Press release
Beryllium Industry to Incur Rapid Extension During 2024 - 2031 | American Beryllia Inc., American Elements
Beryllium Industry
Global beryllium market is estimated to be valued at USD 159.1 Mn in 2024 and is expected to reach USD 196.9 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031.
Market Dynamics:
The aerospace and defense industry is expected to witness significant growth over the forecast period, driven by rising global defense spending and increasing commercial aircraft deliveries globally. According to estimates, global defense spending is projected to grow by 2-3% annually through 2031. This rising demand from the aerospace and defense sector is anticipated to drive the growth of the beryllium market. Additionally, beryllium also finds application in industrial equipment owing to its strength to weight ratio properties. Growing manufacturing sector globally is further expected to support the market growth over the forecast period.
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Beryllium Market Key Drivers and Factors
Increasing Demand for Beryllium Alloys for Defense and Aerospace Applications
Beryllium alloys are increasingly being used in defense and aerospace applications due to their strength to weight ratio and ability to withstand high temperatures. Their use is growing in manufacturing aircraft structures, engine components, radar domes and more due to their light weight and rigidity. This has led to rising demand for beryllium and is a major driver of growth in the beryllium market.
Market Opportunity
Developments of Beryllium Composite Materials
Continuous research and development is expanding the applications of beryllium by producing advanced composite materials with improved properties. New beryllium matrix composites reinforced with carbon fibers or glass fibers exhibit ultra-high stiffness and specific strength even at elevated temperatures. They also have excellent fatigue and creep resistance. The emerging usage of such beryllium composites in 3D printing, automotive, and other industries presents a lucrative opportunity for the beryllium market to grow.
Market Trend
Adoption of Recycled Beryllium
With the increasing scarcity of beryllium reserves and the rise in primary beryllium production costs, recycling of beryllium is gaining prominence. Many companies are recycling beryllium from old applications such as aerospace and nuclear components to produce new beryllium-containing items. The recovered beryllium can fulfill 30-40% of the current market demand. The growing trend of recycling beryllium is opening new avenues and contributing significantly to the beryllium market expansion.
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Top Companies Featured in This Report:
★ American Beryllia Inc.
★ American Elements
★ Belmont Metals
★ Hunan Shuikoushan Nonferrous Metals Group Co. Ltd (SKS
★ IBC Advanced Alloys
★ Materion Corporation
★ NGK Metals Corporation
★ The Atomic Company "Kazatomprom"
★ Amigo Impex
★ Disha Steels
★ Rajendra Metal Industries
★ AVIVA Metals
★ Bhagyashali Metal
★ Kemlite Piping Solution.
Market Segmentation:
By Product Type:
★ By Product Type: Alloys, Metal, Ceramics, Other Industrial Products
★ By End-use Industry: Industrial Components, Automotive, Healthcare, Aerospace and Defense, Oil and Gas and Other Energy, Electronics and Telecommunication, Other End-use Industries
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Beryllium Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Beryllium market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Beryllium market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Beryllium market.
Segment Analysis: Examining the market value and sales volume of Beryllium by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Beryllium market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Beryllium sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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