Gadolinium Market, Expects High Growth Due To Increasing Adoption Of Gadolinium In Many New Applications, Predicted To Continue Healthy Growth Rate Till 2021.
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According to the research report “Gadolinium Market: By Raw Material (Monazite and Bastnasite); By Application (Permanent magnets, Catalysts, Glass polishing, Phosphors, Ceramics, Metal alloy, Others); By End-User (Nuclear Reactors, Electronics, Others) & By Region-Forecast (2016-2021)”, published by IndustryARC, estimates that Asia-Pacific will witness the fastest growth during the forecast period.
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Gadolinium Market deals with the development of gadolinium applications in various end user industries. Gadolinium is a chemical element, which is a silvery-white malleable and ductile rare-earth metal, found in oxidized form.
Gadolinium element is used for shielding neutron radiography and nuclear reactors due to its property of absorbing neutrons.
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Gadolinium metal has unusual metallurgic properties, which helps to improve the workability and resistance to high temperature oxidation of iron, chromium and related alloys. Gadoliniums are used in various application segments including electronics, medical equipment, imaging agents and nuclear reactors among others.
Being a rare metal, the gadolinium price had increased and the trend of the Gadolinium Market is expected to grow with significant growth rate during forecast period.
Scope & Regional Forecast of the Gadolinium Market
Advantages of gadolinium properties, superiormetallurgiccharacteristics and high efficiency are the major driving growth factors for the Gadolinium Market. Growing demand for nuclear energy and medical equipment has been a major driver for the industry.
Increasing adoption of color TVs is also a primary growth factor of the market.
In addition, increasing adoption of gadolinium for newer applications coupled with emerging economies like China, India will create new opportunities for gadolinium market. However, higher cost of the research and development, stringent government regulations, and gadolinium risks of serious illness such as; NSF and GDD are the key restraints for Gadolinium Market.
North America is dominating the Gadolinium Market due to rapidly increasing nuclear infrastructure and modernizing health-care infrastructure. Asia-Pacific is projected to witness the fastest growth because of same reasons and increase in medical equipment in developing nations like China and India.
Among the entire end-users, health-care segment is having the highest market share in Gadolinium Market.
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Segmentations & Key Players Involved in the Gadolinium Market
The Gadolinium Market can be broken down into various segmentations on the basis of -
- Raw Material: Monazite and Bastnasite.
- Application: Permanent Magnets, Catalysts, Glass Polishing, Phosphors, Ceramics, Metal Alloy, Glass Additives and Others.
- End-User: Nuclear Reactors, Electronics, Research Labs, Health-care and Others.
- Region: Europe, Asia Pacific, North America and Rest of the World.
Some of the key players involved in the Gadolinium Market are as follows:
- Alkane Resources Ltd.
- Canada Rare Earth Corporation
- Great Western Minerals Group Ltd.
- Indian Rare Earth Ltd.
- Molycorp Inc.
Why access this report?
* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.
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