Global Beryllium Market - Segmented by Type, End-User Industry, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global beryllium market is expected to grow at a moderate rate during the forecast period, 2018 to 2023. Asia-Pacific is expected to lead the market owing to its rapid growth in the consumer electronics industry. Beryllium is a silver grey metallic element created through stellar nucleosynthesis and is considered a rare element. It helps in enhancing several physical properties once it is extracted as an associate alloying part to copper, aluminum, magnesium, nickel, and iron. It is generally obtained from two naturally occurring sources of bertrandite ore and beryl (a by-product of small-scale emerald gemstone mining operations).
Soaring Demand in Electronics and Electrical Devices
The market is driven mainly by the accelerating use of beryllium in the manufacturing of connectors, springs, switches, and other components of electronic and electrical devices for aerospace & defense, automotive, oil, gas, energy, healthcare, telecommunications, and other products. Beryllium, owing to its resistance to corrosion, fatigue, and extreme pressure, along with its superior characteristics such as excellent stiffness, high melting point, non-magnetic nature, and light weight, is becoming an integral part of various commercial and industrial sectors. The market does face some drawbacks owing to the health concerns due to exposure to beryllium particulates and the high cost, which has led to the replacement of beryllium with substitute materials.
Asia-Pacific Region to Lead the Market
The United States is the world’s leading source of beryllium, whereas China is the second, and Mozambique the third largest producer. Approximately 65% of the estimated global resources of non-pegmatitic beryllium are in the United States.
The beryllium market can be segmented by major end-user application. The market is also segmented as per alloys, metals, ceramics, and other industrial products.
Notable Developments in the Market:
November 2017: Growing demand in the defense industry in the economies of China, Japan, and India owing to high investments in that region.
June 2017: UCB Pharma, Ltd acquired the privately held Beryllium Discovery, LLC.
Major Players: American Beryllia Inc, Belmont Metals, Materion Corporation., NGK Metals Corporation, and Ulba Metallurgical Plant JSC, amongst others.
Reasons to Purchase the Report
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