Global Yttrium Market - CAGR Status, Industry Analysis, Trends, and Forecast (2020 - 2023)
Yttrium Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Yttrium market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Yttrium Market report is anticipated to register a CAGR of 9.11% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Yttrium Market are –
- Chengdu Haoxuan Technology Co. Ltd.
- China Rare Earth Co. Ltd.
- Double Park International Corporation
- Ganzhou Hong De New Technology Development Ltd. Co.
- Goring Rare Earth Corporation Limited
- Inner Mongolia Nonferrous Mining Co. Ltd
- Metall Rare Earth Limited
- Shenzhen Chuanyan Technology Co. Ltd.
- Sichuan Lanthanum Rare Materials Limited
- Zhejiang Jinda Rare-earth Element Co. Ltd
- Alkane Resources
- GBM Resources Ltd
- Nippon Yttrium Co.
- The Nilaco Corporation
- Crossland Strategic Metals Limited
The global yttrium market is expected to register a CAGR of 9.11% during the forecast period (2020 - 2023). Yttrium is a chemical element with symbol Y and has often been classified as a ‘rare-earth element’. The majority of the yttrium is extracted from the deposits of other rare-earth elements and metals during their mining and subsequent purification. A limited amount is also being extracted from scarcely found minerals gadolinite, xenotime, samarskite, euxenite, fergusonite, yttrotantalite, yttrotungstite, and yttrialite.
Increasing Popularity of LED Lighting
Yttrium, owing to its superior physical properties, such as excellent electrical conductivity, heat stabilizing and creep resistant properties, and light weight, is becoming an integral part of various applications in major commercial and industrial sectors. They are used in light bulb, panel and television sets. The red component of color television cathode ray tubes is typically emitted from an yttria or yttrium oxide sulfide. Beside this, they are also used in glass industry for polishing and as an additive for providing color and special optical properties. Producers all across the globe are engaging themselves in improving the technology and efficiency of LEDs. This is expected to drive the market for Yttrium during the forecast period.
Yttrium Oxide Products are expected to have the Highest Growth
It has been identified that the yttrium compound, especially yttrium oxide, has the largest market share by product type during 2017. One major reason for growth of the yttrium market is its extensive use in the electronics sectors and defense sector. In these sectors, the metal is used in phosphor compounds for flat panel displays and aluminum garnet composites for laser target designators, respectively.
China to Dominate the Market
China is the world's largest producer and consumer of yttrium products. In terms of consumption, China alone accounts for more than 40% share of the yttrium oxide market in Asia Pacific. Due to the presence of large number of reserves of the rare earth metal, the country is also a key producer of yttrium metal and yttrium oxide. As most of the reserves and mines of yttrium oxide are concentrated mainly in China, the product has limited international trade. However, the Chinese government is unable to clamp down illegal yttrium mining and expectation of imposing further restrictions on yttrium exports is forcing the the end-users to explore newer avenues to meet the impending supply shortages. Major Players: Chengdu Haoxuan Technology Co. Ltd., China Rare Earth Co. Ltd., GBM Resources Ltd, Nippon Yttrium Co. and EMC Metals Corp., among others.
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Scope of the Report:
The report analyses Yttrium market, which includes –
- Analysis of the growth of Yttrium market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Yttrium market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Yttrium market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Yttrium market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Yttrium Market Report:
- Varying dynamics of the Yttrium industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Yttrium market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Yttrium market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Yttrium Market Report:
- The report analyses how stringent emission control norms will drive the global Yttrium market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Yttrium market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Yttrium:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
Look into Table of Content of Yttrium Market Report @ https://www.360marketupdates.com/TOC/12885772#TOC
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