SAN FRANCISCO, June 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Beryllium - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: January 2021
Executive Engagements: 452
Companies: 23 - Players covered include American Beryllia Inc.; Belmont Metals, Inc.; IBC Advanced Alloys Corp.; Materion Corporation; NGK Metals Corporation; Ulba Metallurgical Plant â€" UMP; Xinjiang Xinxin Mining Industry Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Application (Electronics, Industrial Components, Telecom, Defense, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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Global Beryllium Market to Reach 448.2 Thousand Kilograms by 2026
Beryllium (Be), a silver-gray metallic element with compelling properties, is commonly used in a broad range of applications within the aerospace, energy, defense, appliance, automotive, electronics and medical equipment industries. Beryllium is suitable for applications requiring high levels of reliability, quality and safety and is recognized as a critical raw material in nuclear and aerospace industries. Growth in the global market is supported by growing consumption in the computer, electronics, automotive, and telecommunications industries. In terms of technological applications, the rising usage of beryllium-containing alloys could make a significant contribution to the market growth. Additionally, application of copper beryllium alloys in automotive electronics is expected to drive growth in future. Further anticipated favorable economic scenario post COVID-19 pandemic, is likely to accelerate industrial production across various domains and expected to pave way for market progress in the approaching years.
Amid the COVID-19 crisis, the global market for Beryllium estimated at 396 Thousand Kilograms in the year 2020, is projected to reach a revised size of 448.2 Thousand Kilograms by 2026, growing at a CAGR of 2.2% over the analysis period. Electronics, one of the segments analyzed in the report, is projected to grow at a 2.2% CAGR to reach 167.3 Thousand Kilograms by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industrial Components segment is readjusted to a revised 2.6% CAGR for the next 7-year period. This segment currently accounts for a 24.6% share of the global Beryllium market. Beryllium based products are used in an array of electronic parts, systems and equipment across all the major verticals of electronics sector including consumer electronics, medical electronics, automotive electronics and various other types of electronics. Demand for Beryllium-based industrial components remained robust in line with intensified industrial activity and increased demand for manufactured and processed goods from consumers across the world.
The U.S. Market is Estimated at 145.5 Thousand Kilograms in 2021, While China is Reach 63.2 Thousand Kilograms by 2026
The Beryllium market in the U.S. is estimated at 145.5 Thousand Kilograms in the year 2021. The country currently accounts for a 40.12% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 63.2 Thousand Kilograms in the year 2026 trailing a CAGR of 3.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR while Rest of European market (as defined in the study) will reach 65.4 Thousand Kilograms by the end of the analysis period. Developed regions including the US, Canada, Japan and Europe constitute the primary consumers of beryllium. The US and Europe are early adopters of the beryllium and beryllium alloys, which gained traction as critical enablers of modern technologies in defense, aerospace, telecommunications, ICT products, energy exploration, medical diagnostics and several other applications. High consumption of beryllium in Asia-Pacific is driven by the increasing use of metals in wireless and fixed optical transmission systems, telecommunications and computers, infrastructure equipment, and routers.
Telecom Segment to Reach 53.4 Thousand Kilograms by 2026
Telecommunication represents a growing sector for beryllium and beryllium products. Telecommunications sector is currently characterized by expansion in mobile networks and increased adoption of mobile phones. Due to its high strength, beryllium alloys find use in wireless, fixed and optical transmission tools such as broadband cable hubs, wireless base receiver stations and wireless network gateway equipment. In the global Telecom segment, USA, Canada, Japan, China and Europe will drive the 1.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of 41.6 Thousand Kilograms in the year 2020 will reach a projected size of 46.8 Thousand Kilograms by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 5.3 Thousand Kilograms by the year 2026. More
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