Selenium Market: Overview, Scope and Advancement Outlook
The size of the global?selenium market?was considerably strong in 2021 and is expected to experience rapid revenue growth throughout the forecast period. The market's growth is primarily driven by the growing utilization of selenium in the glass manufacturing industry as a decolorizing agent in soda lime glass. This is due to selenium's ability to remove impurities and its widespread adoption in the food and feed industries for nutritional supplements in humans and animals, respectively.
Selenium, symbolized as Se, is a metalloid that is typically obtained as a by-product during copper extraction and from metal sulfide ores. It is commercially produced through the reaction of anode mud, which is collected during the copper refining process via electrolysis, with sodium carbonate to obtain the desired chemical. As an essential trace nutrient in human and animal nutrition, natural food sources of selenium include brazil nuts, seafood, and meat. However, it is estimated that nearly 1 billion people suffer from selenium deficiency, leading to the development of supplements by pharmaceutical companies to address this issue. Similarly, selenium deficiency in cattle and poultry can result in reduced reproduction and immunity, making it a valuable additive in animal feed to enhance animal health. Consequently, the food-grade variant of selenium is extensively used for supplementation purposes.
Additionally, selenium is known for its ability to remove iron oxide impurities from glass, making it an effective decolorizing agent that eliminates the greenish tint in glass. It is available in the form of a red-colored powder, making it a key component in red ruby glass, which is utilized for interior design and architectural decorations. Furthermore, selenium of metallurgical grade is employed as an additive in the production of cast iron, lead, and copper. Despite strict regulations regarding occupational safety in factories handling this substance, the demand for selenium continues to rise due to its versatile applications in various industries.
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Major companies in the market include:
Driving Factors of Selenium Market
There are several factors that are driving the growth of the selenium market. Firstly, the increasing use of selenium in the glassmaking industry as a decolorizing agent in soda lime glass is a significant driver. Selenium has the property of removing impurities from glass, which helps in achieving a clear and colorless final product. This has led to a higher demand for selenium in the glass industry.
Secondly, selenium has found extensive adoption in the food and feed industries. In human nutrition, selenium is recognized as an essential trace nutrient, and its deficiency can have adverse effects on health. As a result, pharmaceutical companies have developed selenium supplements to address this deficiency. Similarly, in the animal feed industry, selenium is used as a nutritional supplement for livestock. Its deficiency can lead to reduced reproduction and weakened immunity in animals. Therefore, the addition of selenium to animal feed has become crucial for maintaining animal health.
Another driving factor for the selenium market is its availability as a by-product in copper extraction and metal sulfide ores. Selenium is obtained during the refining of copper through an electrolytic process. This by-product is then used for the commercial production of selenium. The presence of selenium as a by-product makes it more accessible and cost-effective for various industries.
Furthermore, the versatility of selenium contributes to its market growth. It is not only used in glassmaking and nutrition but also finds applications in other industries. For example, selenium is utilized as an additive in the preparation of cast iron, lead, and copper. Its properties make it valuable for enhancing the properties of these metals.
Overall, the increasing demand for selenium in the glass, food, feed, and metallurgical industries, along with its availability as a by-product, versatility, and recognized importance in nutrition, are the major driving factors behind the growth of the selenium market.
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The global Selenium market has been segmented as follows:
Type (Revenue, USD Million; 2019-2030)
Application/ End Use Outlook (Revenue, USD Million; 2019-2030)
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Regional Outlook (Revenue, USD Million; 2019-2030)
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