Global Europium Market Size, Share, Opportunities, COVID-19 Impact, And Trends By End-Use Industry (Semiconductors, Chemicals, Energy And Power, Others), And By Geography - Forecasts From 2022 To 2027

The global europium market is anticipated to expand at a CAGR of 11.26% over the course of the forecast period, from US$46.227 million in 2020 to a total market value of US$97.547 million by 2027.

The lanthanide series of elements includes the rare earth metal europium, which is soft, silvery-white in appearance, and oxidizes in both air and water. It is the most flammable of the rare earth metals and ignites in the soil at temperatures ranging from 150°C to 180°C. It is typically found in oxide form and finds use in fluorescent lights, consumer electronics, flat-panel displays, metallurgy, vehicles, and consumer electronics. It is also used as a glass dopant in lasers and other optoelectronic devices.

Expanding usage of europium in consumer electronics to drive the Global Europium market

The consumer electronics sector is predicted to be propelled by the rapidly expanding demand for smartphones, wearables, gadgets, and smart televisions in developing nations around the world. This, in turn, is anticipated to increase demand for the global europium market. Due to reasons including better internet access, technological improvements, and rising consumer spending on high-end devices, the consumer electronics business is expanding quickly around the world and is predicted to have a substantial impact on the growth of the entire industry. Additionally, during the next eight years, the rising penetration in several applications, such as metal alloys, permanent magnets, glass additives, catalysts, and ceramics, is probably going to have a beneficial impact on product demand.

Expanding use of Europium in various industry verticals to boost the market growth

Additionally, to combat counterfeiting, europium oxide is also used as a watermark on Euro banknotes. Nuclear rods used in nuclear reactors for neutron absorption are made from europium. With the development of laser weapon systems, ceramic, glass, and their additives, as well as defense-related applications, the use of europium is growing. Due to its usage in therapy and optical imaging, europium also finds utility in the healthcare sector. Therefore, it is anticipated that the market will grow as the use of europium in the healthcare sector increases.

Key Developments:

• August 2022: In order to further explore and develop the best method for extracting rare earth elements from phosphogypsum that contains europium, 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 earths. OCP has amassed large intellectual property (IP) assets, know-how, and competence in the area of phosphogypsum processing because to the creative research done by UM6P. Given Rainbow's knowledge and intellectual property regarding the extraction of rare earths, this presents a synergistic possibility for cooperative development. OCP and UM6P will share their specialised knowledge as well as complementary separation technologies that have been modified. The Parties want to figure out how to extract rare earths from phosphogypsum in the most effective way and then separate those rare earths into their individual constituents. The Parties plan to collaborate on the creation of a pilot and large-scale rare earth extraction from phosphogypsum.
• Nov 2021: Neo Performance Materials and the Estonian Ministry of Economic Affairs and Communications have joined forces to investigate the possibility of expanding Neo's current production of advanced rare earth element (REE) products in Estonia, including europium. Additionally, there is a chance that new manufacturing of REE-based metals, alloys, and magnetic materials for use in electric vehicles and other green technologies could also begin. The participants in this joint statement make the following statements. Such a growth would necessitate a considerable increase in Neo's financial commitment to Estonia.

Product Offerings:

• Europium element: Neo Chemicals and Oxides companies offer europium (atomic number 63 and atomic mass 151.964) under the category of lanthanide element products, both individually and in combination. Europium is often sold as oxides or salts, but Neo Chemicals can also modify it to fulfill specific prerequisites, including those of physical qualities.
• Samarium Europium Gadolinium Oxide Concentrate: Samarium Europium Gadolinium Oxide Concentrate, also known as Sm-Eu-Gd Concentrate provided by Hefa Rare earth Canada Co. Ltd., is used largely for its unusual luminous properties. Its atomic number is 63 and its symbol is Eu. The emission of visible light can be caused by certain energy level transitions occurring within the excited Europium atom as a result of the atom being excited by the absorption of ultra violet radiation. Europium supplies both the necessary red and blue in energy-efficient fluorescent lighting. Sm-Eu-Gd Concentrate's description contains Grade of Phosphor A form of white powder with a little pinkish tint is called europium oxide. It serves as the activation ingredient for X-raw intensifying screens and is mostly utilised in the production of CTV fluorescent powders and three-band fluorescent phosphors. It can be ordered in a plastic woven bag with inside double PVC bags that weigh 5kg, 10kg, or 50kg net each, or it can be customized to meet the needs of the customer.

Global Europium Market Scope:

Segmentation

• By End Use Industry
  • Semiconductors
  • Chemicals
  • Energy and Power
  • 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