Beryllium is a steel-gray metal that is quite brittle at room temperature. Beryllium is widely distributed in Earth’s crust and is estimated to occur in Earth’s igneous rocks.
Major factor driving growth of the global beryllium market is beryllium’s wide application in various sectors such as aerospace, telecommunication, automobile, etc. In addition, increasing demand for beryllium from developing countries for energy-harnessing system is another factor expected to support growth of the global beryllium market.
The global beryllium market is segmented on the basis of application and region.
On the basis of application, the global beryllium market is segmented into industrial, consumer electronics, automotive electronics, defense, telecommunication, energy, medical, and others (oil & gas, and healthcare). The aerospace and defense segment is estimated to dominate the global beryllium market. The consumer electronics segment is projected to register highest CAGR over the forecast period.
On the basis of region, the global beryllium market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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The beryllium market in North America is expected to account for largest share in the global market in terms of revenue, owing to increasing demand from aerospace and defense and automobile sectors. The market in Asia Pacific is expected to account for significant revenue share in the global beryllium market. The market in Asia Pacific is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to increasing demand from telecommunication and increasing use of smart TV, phones, etc. which is increasing demand from consumer electronics in emerging economies in this region.
Key players operating in the global beryllium market include Materion Corporation, Ulba Metallurgical Plant, NGK Metals Corporation, American Beryllia Inc., Belmont Metals, Inc., IBC Advanced Alloys Corp., and Hunan Shui Kou Shan Nonferrous Metals Group Co., Ltd.