Beryllium is an element possessing a higher modulus of elasticity than steel. Several properties of beryllium such as high melting point, heat absorbing capacity, thermal conductivity, and heat & dissipation coupled with its lightweight nature make it a viable element. Alloys derived from beryllium and other metals such as copper, iron, and aluminum have a high demand in medical, industrial, and electronic applications. Other application areas for beryllium and its alloys include aerospace & defense, telecom, energy, and others. Health and safety regulations outlined by governments to prevent Chronic Beryllium Disease (CBD) or berylliosis and lung cancer in miners can have a positive impact the product demand.
Aerospace & Defense: A Major Application Segment for Beryllium
The aerospace and defense segment is anticipated to register a decent growth rate of 5.5 % during the forecast period (from 2017 to 2025) on account of beryllium alloys being used in military jets. The U.S. is a major consumer of beryllium, with volumes of the metal being stockpiled by the U.S. Department of Defense for safekeeping and defense applications. IBC Advanced Alloys, a U.S. company uses beryllium-based alloys for creating castings and forgings for clients in the aerospace sector due to its lightweight nature.
The consumer electronics segment possesses the potential to generate significant revenue owing to ongoing trend of component miniaturization. Properties of thermal conductivity and electrical insulation is anticipated to lead to its application in high-definition television sets and connectors of smartphone chargers. Presence of major players in the consumer electronic sector in China and Japan are expected to create high market demand by 2025.
Market Outlook
The global beryllium market is expected to reach a valuation of USD 80.7 million by 2025, according to a report by Grand View Research, Inc. Superior mechanical and physical properties of beryllium are likely to drive market demand during the forecast period. Increasing demand for beryllium and its alloys in sectors such as aerospace, defense, electronics, and metals is anticipated to spur market growth in the years to come. Key market players include Texas Mineral Resources Corp.; Materion Corporation; Ulba Metallurgical Plant; and NGK Metals Corporation.
In-Depth Research Report On Automotive Appearance Chemicals Market:
https://www.grandviewresearch.com/industry-analysis/beryllium-market
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