Publishing: June 2021 | Report Code: CM12121 | Available Format: PDF
The global beryllium market is projected to showcase strong growth in the coming years, on account of the rapid industrialization, which is creating a huge spur in demand for the compound, particularly in the automotive and aerospace & defense sectors. Increased government spending on military aircraft and the rise in demand for passenger cars are expected to propel the demand for beryllium in the near future.
The beryllium market has been categorized into alloys, metals, ceramics, and others, on the basis of product type. Among these, alloys are expected to account for a significant market share throughout forecast period. This can be ascribed to the usage of beryllium-containing alloys for critical applications, wherein the extended service life and energy management are of high importance. Additionally, beryllium, when alloyed with copper, aluminum, and iron, makes for a suitable component for use in the manufacturing of tools and equipment.
The beryllium market has also been categorized on the basis of end use into industrial, automotive, healthcare, oil & gas, electronics & telecommunication, aerospace & defense, and others. Of these, the automotive category is expected to account for a significant share in the market throughout the forecast period. This is primarily attributed to the high suitability of the compound as a connector material for batteries and high-temperature applications in automobiles.
Moreover, the alloys serve vital applications, such as in the the airbag of automobile vehicles. Additionally, they facilitate automotive emergency flashers to operate even after thousands of on-and-off cycles. Owing to such important applications of the compound in the automotive sector, its adoption is expected to further increase with the rise in automobile production.
Geographically, North America is expected to be the largest market for beryllium throughout the forecast period. This can be ascribed to its high demand from the automotive and aerospace & defense sectors in the U.S. and Canada. Rising investments for the development of lightweight vehicles are projected to shape the future of the automotive industry. Moreover, high expenditure by the U.S. government on military aircraft, along with the growth in the aviation industry of the country, is expected to increase the demand for the compound, thereby benefitting the market in the region in the coming years.
The increase in demand for the compound from the automotive sector and the aerospace & defense sector has significantly benefitted the market during the historical period and is also projected to shape the future market growth. Beryllium alloys are widely used in these sectors as structural materials owing to their high strength. Additionally, the increasing awareness on the benefits of the compound are opening avenues for its wider application in fields such as telecommunication, consumer electronics, energy, and other industrial sectors. Such factors are projected to drive its market during the forecast period.
Although beryllium has a wide range of applications, its high cost and side-effects on human health are the key factors due to which its demand is likely to showcase restrained growth. Prolonged exposure to beryllium can lead to berylliosis, which is a chronic lung disease, which leads to the inflammation of the lungs, coughing, and breathlessness. This is primarily observed at production sites where there are high chances of inhaling the dust or vapor of the compound. Such hazardous effects can restrain the market growth to a certain extent.
Some of the companies operating in the global beryllium market are American Beryllia Inc., IBC Advanced Alloys, American Elements, Materion Corporation, NGK Metals Corporation, Hunan Shuikoushan Nonferrous Metals Group Co. Ltd (SKS), National Atomic Company Kazatomprom, Xinjiang Xinxin Mining Industry Co. Ltd., Grizzly Mining Ltd., and Ningxia Orient Tantalum Industry Co. Ltd.
The study provides the historical as well as the forecast market size for the beryllium market.
The beryllium market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Product Type
Based on End Use
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