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

The global gadolinium market is anticipated to expand at a CAGR of 11.18% over the course of the forecast period, from US$244.773 million in 2020 to a total market value of US$514.132 million in 2027.

The silvery-white metal gadolinium is a ductile rare-earth element with exceptional metallurgical qualities. Chromium, iron, and other related metals' resistance and workability to oxidation at high temperatures can both be considerably improved. It slowly transforms into a black covering when combined with moisture or ambient oxygen. The metal is used in a variety of application areas, such as ceramic, medical devices, optical glass, and phosphors, among others. In contrast to other lanthanides, gadolinium can be used as a rare earth metal or as a neutron-absorbing salt. Additionally, this metal is used to create gadolinium yttrium garnets, which are utilized in microwaves, and green phosphors for color television image tubes. Medical equipment uses gadolinium chemicals to diagnose tumors. Additionally, gadolinium is utilized to create magnets, electric components, and data storage devices.

However, the increasing demand for gadolinium is anticipated to be hampered by strict government regulations, and greater extraction, refining, manufacturing, and R&D costs. The risk of catastrophic illnesses including nephrogenic systemic fibrosis (NSF), gadolinium deposition disease (GDD), and nephrogenic fibrosing dermopathy is also anticipated to reduce the demand for gadolinium.

Increasing Demand in the healthcare sector to boost the Global Gadolinium Market

It is regarded as a rare-earth metal, but because it is used more frequently in the healthcare sector, demand and supply for this metal are growing quickly. Gadolinium is utilized by doctors as a contrast agent to make interior body structures in humans more visible. Since gadolinium-based contrast agents are used in magnetic resonance imaging, the flourishing medical and healthcare sector is the main factor propelling the growth of the global gadolinium market (MRI). The demand for gadolinium and its many uses will increase as nuclear energy becomes a more popular solution to address energy needs.

Key Developments:

• July 2021: A new supply chain for rare earth between the United States and Europe has been established by Energy Fuels Inc. and Neo Performance Materials Inc. The first container (about 20 tons of product) of an anticipated 15 containers of mixed rare earth carbonate has been successfully manufactured by Energy Fuels at its White Mesa Mill in Utah and is on its way to Neo's rare earth separations facility in Estonia. As Energy Fuels continues to process the naturally occurring monazite sand ore (having major component gadolinium) mined in Chemours mined in Georgia (U.S.) for both the rare earth elements and naturally occurring uranium that it contains, more shipments of RE Carbonate are anticipated. In the beginning, this new supply chain will use monazite, which is converted into RE carbonate at Energy Fuels' mill in Utah, to make rare earth products. At its Silmet rare earth processing facility in Sillamäe, Estonia, Neo converts the RE Carbonate into segregated rare earth oxides and other value-added rare earth compounds.
• March 2021: A significant step in the development of the project has been reached with the announcement by Rainbow Rare Earths of the findings of the Preliminary Economic Assessment (PEA) for the Company's Phalaborwa Rare Earths Project in South Africa. The PEA shows that Phalaborwa has a good chance of becoming a substantial supplier of high-quality rare earth oxides including gadolinium to the rapidly growing permanent magnet industry in order to support global decarbonization and the rising demand for electric vehicles and offshore wind turbines. METC Engineering, a Johannesburg-based minerals processing engineering firm, carried out the PEA with significant assistance from independent experts as required. A total of 26,208 tons of separated magnet rare earth oxides were produced, and over a 14.2-year period, they brought in US$3.6 billion in revenue at a weighted average sales price of US$137.92/kg.

Product Offerings:

• Gadolinium oxide: Gadolinium oxide by HEFA Rare Earth Limited, which contains the gadolinium element with atomic number 64, symbol Gd, weight 157.25, is used in both phosphors and scintillated material due to its high magnetic moment (7.94uB). Gadolinium oxide is used as an injectable contrast agent for patients undergoing magnetic resonance imaging when combined with EDTA dopants. Phosphor, neutron absorption, optical glass, electronics, GGG materials, crystals, and ceramics are only a few uses for gadolinium oxide. It is packaged in a plastic woven bag with two inside double PVC bags that each holds 500kg of net weight, as well available in packaging as per the specifications of the customer.
• Gadolinium chloride: Gadolinium chloride by Metall Rare Earth Limited is white in color and has a crystalline structure. Strong mineral acids can dissolve it with ease. It is a dopant for gadolinium yttrium garnets, which have microwave uses, and is used to make optical glass.    For the production of laser crystal and phosphors for color television tubes, high-purity gadolinium chloride is needed. It is employed in the production of Gadolinium Yttrium Garnet, as a substrate for magneto-optical films, and in the manufacture of other optical components. It also has microwave applications. Gadolinium Gallium Garnet (GGG, Gd3Ga5O12) was utilized in computer bubble memory and imitation diamonds. Additionally, it can be used as an electrolyte in SOFCs (SOFCs). It has a white crystalline appearance. Strong mineral acids can dissolve it with ease.

Global Gadolinium 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