Gadolinium is a soft, bright, silvery-white metal that is both malleable and ductile. The metal is employed in various application segments including ceramic, medical equipment, optical glass, and phosphors among others.
A small amount of gadolinium in alloys of iron and chromium can improve resistance and oxidation. Moreover, this metal is used as green phosphors for colour television picture tubes and to make gadolinium yttrium garnets which find their application in microwaves. The ability to absorb neutrons makes it useful for its application in the core of a nuclear reactor. Gadolinium compounds are used by medical devices, particularly MRI, for diagnosing cancerous tumours. Gadolinium is also used for making data storage disks, magnets and electric components.
Growing demand for medical equipment will boost the demand for gadolinium as it is used as a contrast medium by doctors to improve the visibility of human internal body structures. Growing investment in nuclear energy as an alternative to meet the energy demand in the Asia Pacific region will augment the demand of gadolinium and its wide range of applications.
However, stringent government regulations, higher cost of extraction, refining, fabricating and research and development will hinder the growing demand for Gadolinium. In addition to it, the risk of serious illness, such as Gadolinium Deposition Disease (GDD), Nephrogenic Systemic Fibrosis, (NSF) and Nephrogenic Fibrosing Dermopathy will impede the demand of Gadolinium during the forecast period.
Key industry players profiled as part of this section are Avalon Advanced Materials, Inc., Metall Rare Earth Limited, Canada Rare Earth Corporation, HEFA Rare Earth Canada Co., Ltd., and Baotou Iron and Steel (Group) Co., Ltd., among others.
Key Topics Covered:
2. Research Methodology
3. Key Findings of the Study
4. Market Dynamics
5. Global Gadolinium Market Forecast by Type (US$ billion)
6. Global Gadolinium Market Forecast by Application (US$ billion)
7. Global Gadolinium Market Forecast by Geography (US$ billion)