Global High Purity Yttrium Oxide Market, By Product Type (99%-99.9%, 99.9%-99.99%, 99.99%-99.999%, >99.999%), Application (Chemical Industry, Metallurgy, Ceramics, Glass, Permanent Magnetic Material, Other), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global High Purity Yttrium Oxide Market
The high purity yttrium oxide market is expected to witness market growth at a rate of 3.40% in the forecast period of 2021 to 2028, and is estimated to reach the value of USD 2,743.99 million by 2028. Data Bridge Market Research report on high purity yttrium oxide market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of high purity yttrium oxide market.
Yttrium oxide, also called yttria, refers to an oxide of yttrium metal. The rare earth metal oxide is considered one of the most stable compound. The compound is widely used in applications in several industries. It is known to possess several important properties such as high hardness, mechanical strength, high erosion resistance and chemical inertness. Yttrium oxide also tends to have resistance to molten metals and high thermal stability.
The increase in demand for rare metals across the globe acts as one of the major factors driving the growth of high purity yttrium oxide market. The rise in the employment of the product as an additive in paints and coatings for high-temperature and radiation applications, and high popularity of the material owning to its exceptional chemical and physical properties accelerate the market growth. The high usage of the material in the manufacture of yttrium iron garnets for microwave filters and sensors, which are further used for gamma rays and x-rays, and rise in demand for the compound because of the high stability against radiations, primarily UV and microwave radiation further influence the market. Additionally, rapid industrialization, expansion of various end use industries, increase in as a catalyst in (polymerization) manufacture of polymers and usage in refractory materials positively affect the high purity yttrium oxide market. Furthermore, research and development to enhance the product extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
- On the other hand, issues with recent substitution of CRT displays with LED displays is expected to obstruct the market growth. The decline in prices due to the oversupply situation is projected to challenge the high purity yttrium oxide market in the forecast period of 2021-2028.
This high purity yttrium oxide market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on a high purity yttrium oxide market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global High Purity Yttrium Oxide Market Scope and Market Size
The high purity yttrium oxide market is segmented on the basis of product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product type, the high purity yttrium oxide market is segmented into 99%-99.9%, 99.9%-99.99%, 99.99%-99.999% and >99.999%.
- On the basis of application, the high purity yttrium oxide market is segmented into chemical industry, metallurgy, ceramics, glass, permanent magnetic material and other.
High Purity Yttrium Oxide Market Country Level Analysis
The high purity yttrium oxide market is analyzed and market size, volume information is provided by country, product type and application as referenced above.
The countries covered in the global high purity yttrium oxide market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the high purity yttrium oxide market due to the growing industrialization and extraction activities in China. North America is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the presence of a strong functional coatings market in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and High Purity Yttrium Oxide Market Share Analysis
The high purity yttrium oxide market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to high purity yttrium oxide market.
The major players covered in the high purity yttrium oxide market report are ARAFURA RESOURCES, Lynas Corporation Ltd, China Rare Earth Holdings Limited, Avalon Advanced Materials Inc., IREL(INDIA) LIMITED, Greenland Minerals Ltd., NEO, Rare Element Resources Ltd., Frontier Rare Earths Limited, Canada Rare Earth Corporation, Iluka Resources Limited, Northern Minerals, Krakatoa Resources Limited, Ucore Rare Metals Inc., Namibia Critical Metals Inc., Minmetals Rare Earth Co., Ltd., and Alkane Resources Ltd, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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