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, production efficacy and expanding market opportunities. It is also used in magnets, lasers and memory devices due to advancements in semiconductor and electronics industry. Additionally, development of novel technologies has paved the way for recycling this metal from electronic waste along with creating new applications in the fields of medical, industrial and scientific ventures. Yet another contribution of europium has been in nuclear reactor control rods to make nuclear operations safe and efficient. The metal has also contributed to advancement of medical imaging & diagnostics, especially in techniques, such as magnetic resonance imaging (MRI) and positron emission tomography (PET) scans. Furthermore, europium, which is utilized in phosphors, is utilized in Euro banknotes to prevent counterfeiting. Phosphors, which shine under specific light to aid in distinguishing, make it simple to identify counterfeit notes.

Geographically, Asia-Pacific is anticipated to be the largest and also fastest growing region in the global market for Europium during the analysis period, owing to high demand from the electronics and lighting sectors. Presence of robust industrial set-ups and extensive resources in the region has been instrumental in further propelling the market. South Korea, Japan and China are among the top producers and consumers of this element, followed by China’s vast capability of mining and refining of scarce elements. Further, the market growth is reinforced by government programs that favor energy-efficient technologies. Additionally, existence of electronics giants in the region along with rapidly increasing urbanization and infrastructural expansion and also heavy investments in R&D for developing europium based applications are bolstering the region’s dominance and leadership.

The report studies the Europium market across all major regions including North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa.

The market for major forms of Europium analyzed in this report includes Europium Alloys, Europium metal and Europium Oxide. The study also examines the market for Europium by application, comprising Catalysts, Ceramics, Glass Additives, Glass Polishing, Metal Alloys and Permanent Magnets and Phosphors. With regard to end-use sector, the global market for Europium has been categorized into Anti-Counterfeiting, Automotive, Consumer Electronics, Healthcare, Lighting, Metallurgy, Nuclear Labs and Semiconductors.

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