Europium is a rare earth element (REE) with an array of applications in metallurgy, automotive devices, consumer electronics, and optoelectronic devices. Derivatives of europium available in the form of nitrates and oxides are used as doping agents to bond discrete elements. Discovery of REEs in Australia and Japan can bode well for sectors heavily relying on the metal. Methods in recycling consumer electronics are underway in China to extract REEs and reuse them for future production.
Advances in Research to Boost Europium Use
Major end users of europium include anti-counterfeiting, nuclear labs, semiconductors, consumer electronics, lighting, metallurgy, healthcare, automotive, and others. The consumer electronics segment is touted to exhibit a high growth rate due to increasing demand for wearables, smartphones, and 4K television sets. Increased customer budgets and improved connectivity due to advances in networking technologies are expected to significantly influence the segment demand. A group of researchers from the University of Buffalo has managed to successfully control energy levels between europium sulfide and tungsten diselenide when placed on a silicon chip.
The lighting segment is estimated to command a considerable demand of europium owing to increased usage of the element in mercury lamps. Transition to solid state lighting systems such as Light-Emitting Diodes (LEDs) by consumers coupled with a rise in infrastructural projects are expected to bolster the segment growth. In 2014, a group of researchers from reputed institutes succeeded in bonding europium with gallium nitride (GaN) with the help of oxygen. The combination can be used in powering red LED lights, as well as imaging techniques such as the Rutherford Backscattering.
Market Outlook
The global europium market is projected to reach USD 308.9 million by 2025, according to a report by Grand View Research, Inc. It is expected to experience immense growth from 2014 to 2025 (forecast period) thanks to the growing consumer electronics sector. Increasing demand for europium oxide and nitrates are likely to propel market demand during the forecast period. Applications of the element in material sciences, electrical, and energy sectors can increase the ambit of the market in the forthcoming years. Prominent market players include Canada Rare Earth Corporation, Lynas Corporation, Baotou Group, and China Minmetals.
In-depth research report on europium market, click the click below:
In-depth research report on europium market, click the click below:
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