Demand for Europium to Reach US$373.3 million by 2030 Fostered by Phosphors and Consumer Electronic Applications
Industry Experts, Inc., has released its latest report on Europium Market , which projects the demand for the same to reach US$373.3 million by 2030 from an estimated US$267.1 million in 2024 at a CAGR of 5.7% between the two years. The demand for Europium in the global market is primarily being driven by a number of factors that include increasing demand of phosphors in various applications for making high-quality displays that offer higher cooling, energy efficiency and brightness in products, such as OLEDs & LCDs, which are used in televisions, smart phones, wearables and other electrical & electronic equipment. Technological advancements have enhanced the methods of extracting, purifying and separating europium from other ores, thereby positively impacting its availability to manufacturers. Heavy investments in R&D for improving performance and overcoming supply challenges of this metal have determined the global market in yielding innovative solutions,