Global Erbium Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Medical Equipment, Ceramics, Others), And By Geography - Forecasts From 2022 To 2027

The global erbium market is anticipated to expand at a CAGR of 11.21% over the course of the forecast period, from US$104.279 million in 2020 to a total market value of US$219.442 million by 2027.

A member of the lanthanide series, erbium is a rare earth element. Halide lights, control rods, ceramics, specialized glass, and medical equipment are just a few of the products that use erbium. The glass fibre in optical cables contains erbium, which amplifies the signals that pass through it. Infrared-absorbing glass, such as safety glasses for welders and metal workers, is made using erbium oxide. Glass takes on a pink hue when erbium is added, and this pink tint is utilized to add color to some imitation gems and sunglasses. Additionally, because of its capacity for neutron absorption, this element is utilized in nuclear reactor control rods. Display monitors like LED and LCDs use phosphors based on erbium oxide. Infrared light is absorbed by erbium, which is employed as a photographic filter.

Increasing Demand for Compact Passenger Cars to drive the Global Erbium market

Erbium in the form of oxides is frequently utilized in the automobile sector for a variety of purposes, including fuel cells, semiconductors, and electronic displays. The size of the erbium market is being supported by the quick increase in automotive production. Due to their remarkable anti-Stokes luminescence performances and physicochemical characteristics, lanthanide metal erbium has lately demonstrated compelling advantages in a variety of sectors for photon upconversion. The erbium market is also anticipated to benefit from expansion in the semiconductor industry brought on by rising consumer and industrial electronics. For up-conversion purposes, erbium is employed in semiconductor transistors and capacitors.

Increasing Glass Use in Consumer Goods and Electronics Sector is boosting the market expansion of Erbium

The market for consumer goods and electronics is anticipated to be driven by an increase in demand for erbium oxide from display panels. Among other display goods, erbium is primarily employed in LEDs and LCDs. The global market for erbium is being driven by the expanding consumer electronics sector's demand for display panels. The need for display panels is also being fueled by the explosive rise of the Internet of things in both industrialized and emerging nations. The market for erbium is being further stimulated by the increase in smartphone and phablet adoption in developing nations. Additionally, the product is utilized in consumer devices like displays for automobiles, cell phones, tablets, and cameras.

Key Developments:

• August 2022: In order to further explore and develop the best method for extracting rare earth elements from phosphogypsum that contains erbium, Rainbow Rare Earths has entered into a Master Agreement with OCP SA, the leading producer of phosphate products in the world, and Mohammed VI Polytechnic University, a Moroccan university with a strong focus on science, technology, and innovation. As a byproduct of the manufacture of phosphoric acid, phosphogypsum contains rare earth. OCP has amassed large intellectual property (IP) assets, know-how, and competence in the area of phosphogypsum processing because of the creative research done by UM6P. Given Rainbow's knowledge and intellectual property regarding the extraction of rare earth, this presents a synergistic possibility for cooperative development. OCP and UM6P will share their specialized knowledge as well as complementary separation technologies that have been modified. The Parties want to figure out how to extract rare earth from phosphogypsum in the most effective way and then separate those rare earth into their individual constituents. The Parties plan to collaborate on the creation of a pilot and large-scale rare earth extraction from phosphogypsum.
• March 2021: A new rare earth metal production project across the North American and European critical material supply chains was unveiled by Neo Performance Materials and Energy Fuels Inc. The effort aims to turn natural monazite sands, a byproduct of heavy mineral sands extracted in the Southeast of the United States, into value-added rare earth goods. For use as feedstock for Neo's value-added separated rare earth production facility in Europe, Energy Fuels will convert the monazite sands in Utah into a mixed rare earth carbonate. Energy Fuels is also considering the possibility of establishing future value-added U.S. rare earth production capabilities in Utah.

Product Offerings:

• Erbium acetate: An essential coloring agent in glass and porcelain enamel glazes is erbium acetate. Supreme purity Erbium acetate by Metall Rare Earth Limited is frequently used as a dopant in optical fibre and amplifier production. As an amplifier for fiber optic data transfer, it is especially helpful. It looks pink and crystalline. It is stable with slight hygroscopicity, soluble in water, and only weakly soluble in strong mineral acids.
• Erbium Element: The element erbium, atomic number 68, symbol Er, weight 167.26, is used to color glass, as an amplifier in fibre optics, and in lasers for use in dentistry and medicine. Erbium salts are pink because the Erbium ion has a relatively narrow absorption band. As a result, it is utilized in eyewear and decorative glassware. It has the ability to remove discoloring contaminants like ferric ions and create a neutral grey tone. It serves this function in a variety of glass goods. As an amplifier for fibre optic data transfer, it is especially helpful. 1.55 microns-long erbium lasers are needed to provide an effective optical method of amplification. Er:YAG lasers are perfect for surgical applications because they can deliver energy without causing heat buildup in the tissue.

Global Erbium Market Scope:

Segmentation

• By Application
  • Medical Equipment
  • Ceramics
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Taiwan
    • Thailand
    • Others