Yttrium Market Leading Players and Forecast to 2022

(MENAFN- America News Hour) Yttrium is an element with symbol 'Y' and atomic weight 39. It is classified as a rare earth element. Yttrium-oxide, is the major ore and primary source in producing Yttrium and various compounds and alloys. It is produced in small quantities in few regions across the world. Few other minerals like gadolinite, xenotime, samarskite, euxenite, fergusonite, yttrotantalite, yttrotungstite, and yttrialite are source of yttrium.Yttrium is becoming an integral part in major commercial and industrial sectors because of its applications. It has qualities like, good electrical conductivity, creep resistant properties, light weight, and heat stabilizing.

End-user/Technology

Owing to its superior physical properties, it has wide range of applications in various industries. It is used in ceramic and consumer electronics manufacturing. It is also used in automotive industry in Defense and aerospace. It is also used in Healthcare and a few other industries.

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Market Dynamics

This market is majorly driven by its usage in ceramic industry and increase in demand for flat panel displays. Also, demand increase for green vehicles is driving growth for this market. But major threat is all minerals and ores from which this is extracted, are concentrated in few parts of the world especially in China, which limits the potential for this market.

Market Segmentation

Yttrium market is segmented based on products and application. Based on types of products, it is segmented into three categories namely, Alloys, Metals and Compounds. Based on applications, it is segmented into, ceramics, electronic industry, metallurgical and others.

Regional/Geographic Analysis

As most of the ores, from which Yttrium is extracted, are concentrated in China, it dominates the global market in terms of supply and controls major production. Usage is pretty much high in almost all countries especially in developed countries present in Europe and North America as usage of ceramic and electronics are high in that region.

Opportunities

There is a high demand for yttrium as it is used in flat displays and ceramic ware, market is highly controlled by supply side. It has huge potential in China as an abundance of material is available there. Also with the increased awareness among people about plastic and high demand for flat displays in various electronic devices, the demand for yttrium is projected to grow in the next few years.
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Key Players

Following are some key players in global yttrium market Chengdu Haoxuan Technology Co. Ltd. China Rare Earth Co. Ltd. Double Park International Corporation Ganzhou Hong De New Technology Development Ltd. Co. Goring Rare Earth Corporation Limited Inner Mongolia Nonferrous Mining Co. Ltd
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