Wilmington, Delaware, United States, June 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global meitnerium market was valued at US$ 46.8 thousand in 2022 and is projected to reach US$ 92.9 thousand by 2031, expanding at a CAGR of 7.9% from 2023 to 2031.
Surge in research in the chemistries of superheavy elements is anticipated to bolster market growth. Continuous advancement in computational methods used to study solid-form meitnerium (Mt) and considerable improvements in analytical instrumentation are trends expected to create significant business opportunities for companies in the market.
Surge in utilization of particle accelerators in specialized laboratories is likely to augment the market size in the next few years. Considerable research in efficient characterization of transactinide elements is expected to create new business opportunities for companies in the global meitnerium market.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 46.8 Thousand | |
| Estimated Value | US$ 92.9 Thousand | |
| Growth Rate - CAGR | 7.9% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 260 Pages | |
| Market Segmentation | By Form | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | BASF SE | |
Competition Landscape
There are few companies who have active stakes in the meitnerium market. BASF SE is one of the key players in the market. The competitive landscape is gradually evolving and is characterized by few institutes that are engaged in fundamental research. These institutes are expanding investments in synthesizing meitnerium in scientific research laboratories.
Joint Institute for Nuclear Research and the GSI Helmholtz Center for Heavy Ion Research are prominent players in the meitnerium industry.
Key Findings of Study
Consistent Advancement in Methods and Instrumentation Bolstering Usage of Meitnerium in Particle Accelerators: Significant usage of advanced methods in production and chemistry of transactinide elements is likely to bolster market development. Steady adoption of advanced experimental techniques to study superheavy elements is expected to boost the market. Recent market trends indicate that these techniques have gathered traction for analyzing nuclear properties of meitnerium and its compounds and alloys in the past few years. For instance, usage of time-of-flight measurement technique used for separation of nuclides (of original beam and the reaction products produced during reaction) is a key development.
Rise in R&D in Superheavy Elements to Expand Understanding of Nuclear Physics: Intense focus of companies to use isotopes of meitnerium in medical imaging, environmental monitoring, and nuclear safety applications is anticipated to propel the market in the next few years. Considerable research in nuclear physics and fundamental science has strengthened business opportunities for companies in the meitnerium market over the past few years. Significant demand for superheavy elements with unique properties, especially with useful conductivity, catalytic activity, and atomic properties, is anticipated to fuel meitnerium market growth.
The solid form segment is projected to hold a major share of the global meitnerium market from 2023 to 2031. Companies are intent on enhancing the stability and half-life of the synthetic element meitnerium. This is driving research in the solid form, since the gas form is largely unstable.
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Meitnerium Market: Key Growth Drivers
- Significant research by numerous institutes in understanding physical and chemical properties of heavy and superheavy elements of the periodic table is a key driver of meitnerium market development.
- Rapid adoption of advanced analytical instrumentation technology and methods to study radioactive elements is likely to drive the meitnerium market in the near future. Rise in research in discovering stable isotopes of the element, especially meitnerium-278, is a key trend expected to broaden market outlook.
Regional Growth Dynamics
Europe is anticipated to account for the leading market share from 2023 to 2031. Russia, Italy, and Germany are expected to contribute significant revenue opportunities to the market in Europe. Considerable research in fundamental physics and rapid increase in collaborations between scientists from numerous countries are anticipated to propel the market in Europe from 2023 to 2031. Rise in application of advanced instrumentation used to analyze physical and chemical properties of meitnerium are expected to augment the market size in the next few years. For instance, the research fraternity in Joint Institute for Nuclear Research (in Russia) comprises scientists from as many as 18 countries.
Meitnerium Market Segmentation
By Form
- Solid
- Liquid
- Gas
Region
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
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