Europium Market Growth: What’s Driving Demand in Consumer Electronics? | IndustryARC?
The Europium Market is projected to reach $381 million by 2030, growing at a CAGR of 4.80% (2024-2030).
With growing use of the europium metal, oxides, and compounds for the manufacture of phosphors used in consumer electronics, the Europium market is witnessing an increase in demand. Growing public interest towards electronics products will further enhance the overall market demand for Europium during the forecast period.
Key Takeaways
Europium Market Segment Analysis - By Application?
Phosphorus segment holds the largest share in the Europium market. The increasing use of the product for the manufacture of red and blue phosphors, widely used in all smart phones, flat displays, and televisions, is expected to drive product demand over the forecast period.? Europium oxide (Eu2O3), one of the components of europium, is commonly employed as red phosphorus in television sets and acts as an activator of yttrium-based phosphors. The luminescence of europium is extraordinary. The Eu3+ cation is one of those lanthanide cations that can emit light in the visible range in a suitable complex upon absorption of certain wavelengths.
Trivalent europium cation is colorless in an aqueous solution, but when organic ligands are coordinated with an extended π-electron system, the antenna effect causes the luminescent properties of the central particle to increase sharply. The π electrons of the ligand guide the absorbed energy of the incident light (about 355 nm) to the 5d electrons of the Eu3+, causing them to enter the 4f orbital and emit light in the visible region (at about 610 nm) when they fall back, Europium oxide is whitish under normal light.
Europium Market Drivers
Increase in demand of Electronics products
Continuous increasing demand of electronics products around the globe are the expanding the electronics market, due to the increasing demand of electronic products the demand for electroceramics are also increasing and the electroceramics markets are also expanding worldwide. The demand for electroceramics are highly influenced by the electronics and electrical sector as most of the Electroceramics are the ceramics materials which are able to perform an electronic function for a particular application.
Stringent Governments’ regulations
Stringent Governments’ regulations such as digitalization, IoTs and others will further increase the market demand of Electroceramics, as these regulations will never be completed without using electroceramics, as it is used in every part of the automation.? Electroceramics materials are used to build the board on which the PCB designing takes place so that the programmer can code their program on it. So, because of the governments’ regulations electroceramics market will always grow.
??????? ??????????????????: Great Western Minerals Group Ltd. | Canada Rare Earth Corporation | Rare Element Resources | Molycorp | Alkane Resources Ltd | Toyota Tsusho America | Shin-Etsu | Sumitomo Corporation | Rhodium Enterprises, Inc | Hudson Resources Inc - HUD (TSX.V) | Xiamen Xiangyu Co., Ltd. | Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co., Ltd. | Northern Minerals