The global beryllium market was valued at 395.49 metric tons in 2020 and the market is projected to register a CAGR of over 1.5% during the forecast period (2021-2026). 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.
Due to the COVID-19 outbreak, airplane manufacturers have experienced severe disruptions in production, owing to the slowing demand, due to suspended international flights. Boeing and Airbus have not received even a single order since January 2020 in the first half and saw a decline of more than 10% contraction in their airplane production for the first time. These factors have impacted the aerospace industry in 2020 and thus the beryllium demand.
- In the short term, major factors such as increasing usage in medical equipment, owing to its superior properties, and its extensive usage in aerospace and military applications are likely to drive the market.
- 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. ​
For sample report please visit: https://www.statzyreports.com/report/sr496853/beryllium-market
- Many substitute materials are tested for the replacement of beryllium in automotive electronics, which include alloys- like CuZn Brasses, CuSn Bronzes, and CuNiSi alloys. The insufficient combination of strength/ formability, electrical conductivity, stress relaxation resistance, failure to resist vibration and corrosion resistance are hindering this replacement. ​
- The automotive industry is focused on innovation, and the onboard technology is turning them into computers on wheels.​
- The automotive industry has witnessed slowdown from couple of years. According to the International Organization of Motor Vehicle Manufacturers (OICA), the automotive production witnessed a 5.2% decline from 96,869,020 unit in 2018 to 91,786,861 units in 2019. Also, the sales of the automobiles has declined in 2019 by around from 95.06 million units in 2018 to 91.29 million units in 2019.​
- Furthermore, due to the COVID-19 impact, the global automoile production has declined by around 23% in the first nine months of 2020 compared to the same period in the previous year.
- Owing to the above mentioned factors, the market is expected to winess a slow growth during the forecast period.
China to Drive the Growth in Asia-Pacific Region
- In Asia-Pacific, China is the largest economy, in terms of GDP. China is one of the fastest-growing economies, globally, and almost all end-user industries have been growing, owing to the rising population levels, living standards, and per capita income levels. ​
- The demand for beryllium was stable in the past few years. The aerospace and defense sector is the major consumer of beryllium in China. Further, under the plan, ‘Made in China 2025’, it is expected that China may supply over 10% home-made commercial aircraft to the domestic market by 2025.
- China's current major military aircraft production bases include the aircraft manufacturing plants of Xi'an, Shaanxi, Chengdu, Shenyang, and Guizhou. Among the five major aircraft manufacturers in the country, Xifei and Shaanxi have the largest number of aircraft models, accounting for 40% of military aircraft..​
- China is the second-largest market after the United States. However, the Chinese market is still lagging, with a larger difference, in terms of market share, as compared to the United States. Presently, China’s beryllium ore supply is dependent on imports, with a major focus on the defense and science and technology fields, while the applications of beryllium-copper alloy are still far behind those in the United States and Japan. ​
- However, in the long run, beryllium, as a metal with excellent performance, may penetrate further, from the existing aerospace and military fields to electronics and other emerging industries, under the premise of meeting resource guarantees. ​
- The country is one of the major solar panel manufacturers across the world, which is also the famous exporter of low-cost photovoltaic cells to numerous countries. China’s total solar capacity accounts for more than 34% of the global total solar capacity.
- Thus, all these factors are likely to increase hte demand for beryllium in the region during the forecast period.
Competitive Landscape
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.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
For sample report please visit: https://www.statzyreports.com/report/sr496853/beryllium-market
Contact Us:
Poojan Dogra
Public Relations Manager
Statzy Market Research
Email : This email address is being protected from spambots. You need JavaScript enabled to view it.
Email : This email address is being protected from spambots. You need JavaScript enabled to view it.
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com