26-September-2018: The worldwide beryllium market is anticipated to reach USD 80.7 million by 2025, according to a report by Grand View Research, Inc. Beryllium is a metal consisting of properties such as stability at volatile temperatures, heat absorbing capacity, high melting point, and thermal conductivity. Alloys derived from the metal are gaining prominence in consumer electronics, aerospace and defense, and telecommunications owing to their superior characteristics. Major producers of beryllium are the U.S., Mozambique, Madagascar, and China.
Health and safety (HSE) regulations are mandatorily followed in beryllium mines to prevent chronic beryllium and lung cancer among workers. This is exemplified by guidelines drawn by the Occupational Safety and Health Administration (OSHA), a U.S. agency, to protect workers in construction and shipyards. R&D investments by prominent companies are anticipated to pave open growth opportunities for the metal. In 2015, ArQule Inc. and Beryllium Discovery Corporation announced a joint effort to identify potential of small molecule compounds in combating various tumors.
Health and safety (HSE) regulations are mandatorily followed in beryllium mines to prevent chronic beryllium and lung cancer among workers. This is exemplified by guidelines drawn by the Occupational Safety and Health Administration (OSHA), a U.S. agency, to protect workers in construction and shipyards. R&D investments by prominent companies are anticipated to pave open growth opportunities for the metal. In 2015, ArQule Inc. and Beryllium Discovery Corporation announced a joint effort to identify potential of small molecule compounds in combating various tumors.
Positive feasibility studies regarding the extraction of beryllium can extend its area of applications. The Authier Lithium Project, a major mining center located in Canada, is being eyed by Sayona Mining, an Australian company for extraction purposes. Beryllium-based alloys have high demand in the aerospace and defense sector owing to its structural strength. Companies such as IBC Advanced Alloys Corporation and Materion Corporation have been awarded contracts by the defense sector for building components, cementing the status of beryllium as a critical metal.
The beryllium market is expected a steady growth rate from 2014 to 2025 (forecast period) owing to its superior characteristics. Increasing demand for the metal in aerospace and defense sectors is anticipated to spur market growth over the forecast period. Miniaturization of electronic components coupled with high need for low weight materials are likely to contribute to market growth. Key market players include NGK Metals Corporation; Materion Corporation; Ulba Metallurgical Plant; and Texas Mineral Resources Corp. Establishment of numerous distribution channels coupled with a streamlined value chain are strategies being used by players to meet high market demand.
In-Depth Research Report On Beryllium Market:
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