Dallas, Texas, Oct. 28, 2022 (GLOBE NEWSWIRE) — Market experts and latest studies reveal that 2022 and upcoming years to be a splendid year for the global beryllium market recording USD 214.3 million revenue by 2029. They believe that global beryllium market will post around 8.5% annual earnings through 2022-2029.
Beryllium has become the main product of many industries and has remained almost up to the present time. The increasing demand for metal so rapidly in the primary or fabricated form is exceeding the dollar sales volume of beryllium copper alloys and fabricated alloy products. Owing to many important properties, beryllium has become of definite interest in many structural applications such as missiles, aircrafts, spaceships, and other instruments.
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On-going advancements in beryllium metal technology spurred on by substantial research and development expenditures by both public and private enterprises and government is driving the global beryllium market.
Due to unique application in beryllium is the manufacture of metals structures in industries, it has gained a lot of attention and attraction in several industries across the globe. The thermal or electrical conductivity is the key property increasing the use of beryllium in different industries. Owing to benefits such as low density, high melting point than magnesium and aluminum, higher heating capacity, efficient latent heat of fusion, lower heat conductivity is steadily increasing uses for beryllium.
Report coverage & details:
|CAGR||CAGR of 9.1% during 2021-2029|
|Segment Covered||Application, End User Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Player Profile||Materion Corporation, Texas Mineral Resources Corp., American Beryllia Inc., Advanced Alloys, Ningxia Orient Tantalum Industry Co. Ltd, Belmont Metals, Hunan Shuikoushan|
Having low hardness limits the use of beryllium and is also detrimental to human life as well as to environment resulting into stringent regulatory norms regarding the use of beryllium. This is hampering the global beryllium market. Furthermore, Beryllium has become the most important compound in industries because of its strength, hardness, stability at high temperatures, resistance to thermal shock and excellent thermal conductivity.
The global beryllium market is classified into aerospace, electronics, refrigeration, electrical, automotive, agriculture, heating, ventilation, and others on the basis of industry. The use of beryllium is anticipated to experience hike in coming years in Aerospace industry as against the general expectation a few years ago. The greater technology advancements, properties, rising research and development, investments by private as well as government in space exploration and advancement is beneficial driving the demand of beryllium in aerospace industry.
The global beryllium market is classified into satellites, rollers, precision castings, bearings, gears, bellows, springs, electrical contacts, thermal radiation shields, crucibles, nuclear, and others on the basis of applications. The satellites segment held the largest share in global beryllium market and is expected to witness twofold growth in forecast years 2022-2029.
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The increasing sales volume of beryllium copper alloys and fabricated alloy products is driving the dollar sales value of North America. The major expansions of beryllium in North American countries especially United States has resulted primarily from military demands. Other aspects such as new requirements of beryllium for atomic energy development programs, ever increasing demands for new materials leading to the demand of pure beryllium metal are the mainly contributing to the growth of North America in the global beryllium market.
Table of Contents:
2. Research Methodology
3. Market Outlook
4. Global Beryllium Market by Application, 2019-2029 (USD Million)
5. Global Beryllium Market by End User, 2019-2029 (USD Million)
5.1. industrial components
5.4. Aerospace and defense
5.5. Oil and gas and other energy
6.Global Beryllium Market by Region, 2019-2029 (USD Million)
6.1. North America
6.2.4. Rest of Europe
6.3. Asia Pacific
6.3.4. Rest of Asia Pacific
6.4. South America
6.4.5. Mexico City
6.4.6. Rest of South America
6.5. Middle East & Africa
7. Competitive Landscape
8. Company Profiles
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