The beryllium market is expected to reach a notable CAGR of 8.5% and
Dallas, Texas, Oct. 28, 2022 (GLOBE NEWSWIRE) — Market experts and the latest studies reveal that 2022 and beyond will be a glorious year for the world. beryllium market recording $214.3 million in revenue by 2029. They estimate that the global beryllium market will show around 8.5% annual revenue through 2022-2029.
Beryllium became the main product of many industries and has remained almost to the present day. The rapidly growing demand for the metal in primary or fabricated form exceeds the dollar sales volume of beryllium copper alloys and fabricated alloy products. Due to many important properties, beryllium has become of interest in many structural applications such as missiles, aircraft, spacecraft and other instruments.
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Continuous advancements in beryllium metal technology, driven by substantial research and development expenditures by public and private companies and the government, are driving the global beryllium market.
Due to beryllium’s unique application in manufacturing metal structures in industries, it has garnered much attention and appeal in several industries around the world. Thermal or electrical conductivity is the key property increasing the use of beryllium in different industries. Due to advantages such as low density, high melting point compared to magnesium and aluminum, higher heating capacity, efficient latent heat of fusion, lower thermal conductivity steadily increases the uses beryllium.
Report coverage and details:
|Year of reference||2020|
|CAGR||CAGR of 9.1% over the period 2021-2029|
|Segment covered||Application, end user regions|
|Regions covered||North America, Europe, Asia-Pacific, Middle East and Africa, South America|
|Profiled Key Players||Materion Corporation, Texas Mineral Resources Corp., American Beryllia Inc., Advanced Alloys, Ningxia Orient Tantalum Industry Co. Ltd, Belmont Metals, Hunan Shuikoushan|
Having a low hardness limits the use of beryllium and is also detrimental to human life as well as the environment, resulting in strict regulatory standards regarding the use of beryllium. This hampers the global beryllium market. Moreover, beryllium has become the most important compound in industries due to its strength, hardness, high temperature stability, thermal shock resistance and excellent thermal conductivity.
The global beryllium market is classified into aerospace, electronics, refrigeration, electrical, automotive, agriculture, heating, ventilation, and others on the basis of industry. The use of beryllium is expected to increase in the coming years in the aerospace industry, contrary to general expectations of a few years ago. Greater technological advancements, beneficial properties, increase in research and development, private and government investments in space exploration and advancement are driving the demand for beryllium in the aerospace industry.
The global beryllium market is categorized into satellites, rollers, investment castings, bearings, gears, bellows, springs, electrical contacts, heat radiation shields, crucibles, nuclear and others on the basis of applications. The satellite segment held the largest share of the global beryllium market and is expected to witness double growth during the forecast years 2022-2029.
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Higher sales volume of beryllium copper alloys and fabricated alloy products is driving North American dollar sales value. Major beryllium expansions in North American countries, especially the United States, are primarily the result of military requirements. Other aspects such as new requirements for beryllium for atomic energy development programs, ever-increasing demands for new materials leading to the demand for pure beryllium metal mainly contribute to the growth of North America on the global beryllium market.
2. Research methodology
3. Market Outlook
4. Global Beryllium Market by Application, 2019-2029 (USD Million)
5. Global Beryllium Market by End User, 2019-2029 (USD Million)
5.1. Industrial components
5.3. Health care
5.4. Aeronautics and defense
5.5. Oil and gas and other energy
6. Global Beryllium Market by Region, 2019-2029 (USD Million)
6.1. North America
6.2.4. The rest of Europe
6.3. Asia Pacific
6.3.4. Rest of Asia-Pacific
6.4. South America
6.4.6. Rest of South America
6.5. Middle East and Africa
7. Competitive Landscape
8. Company Profiles
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