The Erbium Oxide market size is forecast to reach $X.X million by 2027, after growing at a CAGR of X.X% during 2022-2027. Erbium oxide is a water insoluble oxide of transition metal erbium. The metal is part of the rare earth metal group. It is highly hygroscopic and can absorb carbon dioxide from the environment. Erbium is produced from xenotime and euxenite minerals. Erbium oxide exhibit excellent electrical, photoluminescence and optical properties, hence it has varied applications due to which the market is expected to grow during the forecast period. The development of new applications of erbium oxide Nanoparticles are expected to provide immense opportunities for the players in the market. These nanoparticles can be used in display monitors and bio-imaging. Additionally, recycling of erbium oxide from E-waste is expected to be an important opportunity in the next few years.
The report: “Erbium Oxide Market- Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Erbium Oxide Market Industry.
Due to the COVID-19 pandemic, the production facilities of the electronics parts have been halted owing to the logistics slowdown and unavailability of the workforce across the globe. The shutdown of retail shops and showrooms of major brands, supermarkets, and hypermarkets for a definite period of time is further anticipated to affect the sales of various electronics products, which in turn affects the erbium oxide market.
Asia Pacific dominated the erbium oxide market with a share of more than XX%, followed by North America and Europe. This is primarily because of higher demand from the electronics sector due to a growing population. The burgeoning consumer electronic industry globally is fueling the demand for the display panel, which in turn expected to drive the erbium oxide market. China is the hub for major rare earth materials in terms of production due presence of a large amount of reserves available. In terms of consumption, China holds a large share of the majority of the end-use industries such as automotive, electronics and permanent magnet industries. Strong industrial growth and shifting manufacturing base of major end-use industries makes Asia-Pacific, the fastest growing regional market during the forecast period.
Growing demand for erbium oxide from the display panel industry is expected to drive the market. Due to erbium oxide’s optical and electrical properties, it is primarily used in display monitors such as LEDs and LCDs. The Internet of things is an upcoming trend in the developed world of which display panels form the indispensable element. Furthermore, growth in smartphone and phablet adoption in developing countries is driving the display panel industry. Additionally, growth in the semiconductor industry due to increasing consumer and industrial electronics is expected to fuel the erbium oxide market. Erbium oxide is used as the up-conversion material in capacitors and semiconductor transistors. Furthermore, the growing permanent magnet industry is expected to drive the erbium oxide market. The compound can be paramagnetic, anti-ferromagnetic and ferromagnetic depending on the temperature.
The highly toxic nature of erbium is expected to hamper the market growth. Erbium oxide, when injected, inhaled or taken orally can have harmful effects on human health. The symptoms of erbium oxide toxicity could be ataxia, writhing, arched back, labored respiration and sedation. Erbium oxide is graded as an irritant by Environmental Protection Agency (EPA) and can cause serious skin and eye irritation. Furthermore, high raw material cost is anticipated to hamper the erbium oxide market. Supply of the erbium is highly dependent on mining activities in regions where reserves are abundant. Any political or economic disruptions in these regions can cause supply issues and hence affect the market growth.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the erbium oxide market. In 2019, the market of erbium oxide has been consolidated by the top five players accounting for xx% of the share. Major players in the erbium oxide market are Epsi Metals, Arafura Resources, Avalon Rare Metals Inc., Alkane Resources Ltd., China Rare Earth Holding Limited, Great Western Minierals Group Ltd., Indian Rare Earths Limited, Frontier Rare Earths Ltd., Molycorp and Inner Mongolia Baotou Steel Rare Eartch Hi-Tech Co. among others.
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Report Coverage
The report: “Erbium Oxide Market- Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Erbium Oxide Market Industry.
- By Application: Ceramics, Glass, Electrical & Electronics, Aerospace, Medical and Others.
- By Geography: North America, South America, Europe, APAC, and RoW
Key Takeaways
- New product developments and increasing investments in research and development of erbium oxide are expected to drive the growth of this market.
- Among application, the electrical & electronics segment is projected to lead the erbium oxide market during the forecast period.
- the Asia Pacific dominated the erbium oxide market.
- By Application - Segment Analysis
Due to the COVID-19 pandemic, the production facilities of the electronics parts have been halted owing to the logistics slowdown and unavailability of the workforce across the globe. The shutdown of retail shops and showrooms of major brands, supermarkets, and hypermarkets for a definite period of time is further anticipated to affect the sales of various electronics products, which in turn affects the erbium oxide market.
Geography- Segment Analysis
Asia Pacific dominated the erbium oxide market with a share of more than XX%, followed by North America and Europe. This is primarily because of higher demand from the electronics sector due to a growing population. The burgeoning consumer electronic industry globally is fueling the demand for the display panel, which in turn expected to drive the erbium oxide market. China is the hub for major rare earth materials in terms of production due presence of a large amount of reserves available. In terms of consumption, China holds a large share of the majority of the end-use industries such as automotive, electronics and permanent magnet industries. Strong industrial growth and shifting manufacturing base of major end-use industries makes Asia-Pacific, the fastest growing regional market during the forecast period.
Drivers - Erbium Oxide Market
Increasing usage of erbium oxide in various applications
Growing demand for erbium oxide from the display panel industry is expected to drive the market. Due to erbium oxide’s optical and electrical properties, it is primarily used in display monitors such as LEDs and LCDs. The Internet of things is an upcoming trend in the developed world of which display panels form the indispensable element. Furthermore, growth in smartphone and phablet adoption in developing countries is driving the display panel industry. Additionally, growth in the semiconductor industry due to increasing consumer and industrial electronics is expected to fuel the erbium oxide market. Erbium oxide is used as the up-conversion material in capacitors and semiconductor transistors. Furthermore, the growing permanent magnet industry is expected to drive the erbium oxide market. The compound can be paramagnetic, anti-ferromagnetic and ferromagnetic depending on the temperature.
Challenges - Erbium Oxide Market
Health effects
The highly toxic nature of erbium is expected to hamper the market growth. Erbium oxide, when injected, inhaled or taken orally can have harmful effects on human health. The symptoms of erbium oxide toxicity could be ataxia, writhing, arched back, labored respiration and sedation. Erbium oxide is graded as an irritant by Environmental Protection Agency (EPA) and can cause serious skin and eye irritation. Furthermore, high raw material cost is anticipated to hamper the erbium oxide market. Supply of the erbium is highly dependent on mining activities in regions where reserves are abundant. Any political or economic disruptions in these regions can cause supply issues and hence affect the market growth.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the erbium oxide market. In 2019, the market of erbium oxide has been consolidated by the top five players accounting for xx% of the share. Major players in the erbium oxide market are Epsi Metals, Arafura Resources, Avalon Rare Metals Inc., Alkane Resources Ltd., China Rare Earth Holding Limited, Great Western Minierals Group Ltd., Indian Rare Earths Limited, Frontier Rare Earths Ltd., Molycorp and Inner Mongolia Baotou Steel Rare Eartch Hi-Tech Co. among others.
Product Launch/ Acquisition
- In September 2019, Arafura Resources Ltd has signed a second memorandum of understanding (MoU) to supply rare earth products from its 100% owned Nolans NdPr Project in the Northern Territory. The MoU is with one of China’s leading manufacturers of neodymium iron boron (NdFeB) permanent magnets named Baotou Tianhe Magnetics Technology Co., Ltd.
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Table of Contents
1. Erbium Oxide Market - Overview
2. Erbium Oxide Market - Executive summary
3. Erbium Oxide Market
4. Erbium Oxide Market Forces
5. Erbium Oxide Market - Strategic analysis
6. Erbium Oxide Market - By Applications (Market Size -$Million / $Billion)
7. Erbium Oxide - By Geography (Market Size -$Million / $Billion)
8. Erbium Oxide Market - Entropy
9. Erbium Oxide Market Company Analysis
10. Erbium Oxide Market -Appendix
Methodology
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