Dublin, Aug. 26, 2020 (GLOBE NEWSWIRE) -- The "Beryllium Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for beryllium is expected to register a CAGR of around 2% during the forecast period. The major factors driving the growth of the market studied include beryllium's increasing usage in medical equipment, owing to its superior properties, and its extensive usage in aerospace and military applications. On the flipside, the negative economic effects of COVID-19 are expected to hinder the growth of the market studied.
The alloys product segment dominated the market and is expected to grow during the forecast period owing to the fact that beryllium-containing alloys are only used in critical locations in products where they provide a design solution based upon reliability, miniaturization, improved energy management, and/or extending the service life. Future demand for beryllium oxide in nuclear power generation is likely to act as an opportunity in the future. North America dominated the market across the globe with the largest consumption from the countries, such as the United States and Canada.
Key Market Trends
Automotive Segment to Drive the Market Growth
- In the automotive electronics industry, beryllium is used as the connector material for battery and high-temperature applications. In addition, it is abundantly used in optical filters for night vision, speed control, sensors, and camera applications.
- Furthermore, the metal is used in the form of CuBe- a high-performance alloy- for the powertrain. Beryllium in the form of metal matrix composites is employed for chassis, suspension, and braking component applications.
- The lifesaving technology behind automotive airbags relies on beryllium alloys to work in a fraction of a second. Anti-lock brakes trust beryllium alloys to transmit electrical signals through terminal connections when seconds make a critical difference in preventing a collision.
- Electric relays made with beryllium alloys allow automotive emergency flashers to operate every time even after continual cycles over the years of service.
- A breakthrough in the use of beryllia ceramic in the electronic ignition systems led to a 20% increase in the automotive fuel efficiency.
- Asia which is the largest automotive manufacturing hub has witnessed a decline of 6.4% in 2019. The major countries like China, Japan, India, South Korea, Thailand and Indonesia have registered negative growth in the production. This is majorly due to factors like decline in domestic demand, increasing labor costs and implementation of new vehicle norms (BS Stage 6 vehicles in India).
- Furthermore, the slowdown in the manufacturing sector, due to the economic slowdown and lockdowns due to COVID-19 outbreak, is expected to have a negative impact on the growth of the automotive industry in short to medium term, in all the regions. This factor is likely to have an adverse impact on the demand for beryllium in coming years.
The global market for beryllium is a highly consolidated in nature, with the top three players accounting for around 90% of the share in the global market. This scenario additionally reports a highly monopolistic market. The major companies include Materion Corporation, The atomic company "Kazatomprom" (Ulba Metallurgical Plant JSC), Hunan Shuikoushan Nonferrous Metals Group Co Ltd. (SKS), NGK Metals Corporation, and IBC Advanced Alloys, among others.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Extensive Usage of Beryllium Alloys in Aerospace and Military Applications
4.1.2 Increasing Usage in Medical Equipment Owing to its Superior Properties
4.2 Restraints
4.2.1 Competition from Potential Alternatives
4.2.2 Unfavorable Conditions Arising due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Price Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.2 End-user Industry
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Beryllia Inc.
6.4.2 American Elements
6.4.3 Belmont Metals
6.4.4 Hunan Shuikoushan Nonferrous Metals Group Co. Ltd (SKS)
6.4.5 IBC Advanced Alloys
6.4.6 Materion Corporation
6.4.7 NGK Metals Corporation
6.4.8 The Atomic Company "Kazatomprom"
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Future Demand for Beryllium Oxide In Nuclear Power Generation
7.2 Emerging Applications of Beryllium Mirrors
For more information about this report visit https://www.researchandmarkets.com/r/2qwdl4
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