Gadolinium Industry Size to be worth US$ 8.8 Billion by 2032

Global demand for gadolinium is projected to be worth US$ 5.3 billion in 2022 and to increase at a CAGR of 5.2% to US$ 8.8 billion from 2022 to 2032. Asia Pacific's developing economies are set to have enticing development prospects.

Gadolinium is a rare earth metal, silvery white, ductile and malleable. Gadolinium is employed in various application segments including electronics, medical equipment, imaging agents and nuclear reactors among others. Being a rare earth metal, the price of gadolinium have increased many folds over the years and the trend is expected to continue in the near future.

The key growth drivers of the gadolinium market globally include technical advancements leading to increasing demand, rising demand from the healthcare industry, and increased use of colour televisions. Additionally, expanding uses for gadolinium and developing economies like China, India, and others would open up new opportunities for the gadolinium market.

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Superior metallurgic characteristics and high efficiency have been the major factors driving growth for gadolinium market. Small amount of gadolinium improves the temperature resistance and efficiency of metals such as iron.

Gadolinium has been gaining acceptance in the medical equipment and nuclear applications. Therefore, growing demand for nuclear energy and medical equipment has been a major driver for the industry. Price of gadolinium has been increasing over the years which have been a major factor restraining market growth. Research and development activities to increase the application scope of gadolinium are expected to offer huge growth opportunity in the market.

Increasing demand for nuclear energy mainly in the Asian countries of China, Japan is expected to drive the demand for gadolinium in the region. With increasing threat of energy crisis several developing economies have increased their investments in the nuclear energy segment. Emerging geographical segments such as India, Pakistan and other developing economies in the Asia Pacific region is expected to offer huger growth opportunity in the region.

Increasing shift of demand towards the renewable sources of energy mainly in the developed economies of North America and Europe is anticipated to slow the market growth in the region.

Competitive Landscape

Major industry participants in the gadolinium market include
• Goodfellow Corpration
• GFS Chemicals, Inc.
• All-Chemie, Ltd
• Pascal Technologies, Inc.
• Fredericksburg
• VA Alfa Chemical Corpation
• Super Conductor Materials, Inc.
• Inorganic Ventures

This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.

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Key Segments Profiled in the Gadolinium Industry Survey

Type:
• Gadolinium Acetate
• Gadolinium Acetylacetonate
• Gadolinium Oxide
• Gadolinium Nitrate
• Gadolinium Chloride
• Others

Application:
• Electronics
• Medical Equipment
• Imaging Agents
• Nuclear Reactors
• Others

Region:
• North America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Latin America
• Middle East & Africa

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This release was published on openPR.