Beryllium Hydroxide Market to Surpass 43.98 Million by 2030 Drives Due to its Lightweight Properties
SkyQuest projects that the beryllium hydroxide market will attain a value of USD 43.98 million by 2030, with a CAGR of 6.7% over the forecast period (2023-2030). Beryllium hydroxide holds a prominent position in various industries, with aerospace being notable. Its lightweight properties make it an ideal choice to replace heavier components in aerospace parts, contributing to improved fuel efficiency and overall performance in the beryllium hydroxide market.
Westford, USA, Oct. 20, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the global beryllium hydroxide market is poised for substantial growth, primarily driven by its versatile applications across various industries, including automotive, defense, and more. Its unique properties make it a valuable material for manufacturing lightweight components and high-performance parts, thereby enhancing efficiency and capabilities across these sectors.
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- Pages – 157
- Tables – 65
- Figures – 76
The beryllium hydroxide market is experiencing significant growth driven by many factors. One key driver is the escalating demand for highly secure defense systems, reflecting the critical role of beryllium in advanced military technology. Additionally, the rising global energy consumption and surging vehicle sales are increasing the need for lightweight and high-performance materials, further propelling the industry forward.
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Prominent Players in Beryllium Hydroxide Market
- Materion Corporation
- IBC Advanced Alloys Corp.
- Ulba Metallurgical Plant JSC
- Hunan Shuikoushan Nonferrous Metals Group Co. Ltd.
- Ningxia Orient Tantalum Industry Co. Ltd.
- American Beryllia Inc.
- Hunan Nonferrous Beryllium Industry Co. Ltd.
- Sichuan Apollo Solar Science & Technology Co. Ltd.
- Belmont Metals Inc.
- Xinfeng Guangguang Jingyan Material Co. Ltd.
- Grizzly Mining Limited
- Anhui Yihao International Trading Co. Ltd.
- Hunan Hanrui New Material Technology Co. Ltd.
- Zibo Honghe Chemical Co. Ltd.
- Zhuzhou Keneng New Material Co. Ltd.
- Qufu Chenguang Chemical Co. Ltd.
- Chongqing Changyuan Group Limited
- Qinyang Sanhui Refractory Material Co. Ltd.
- Guizhou Chitianhua Co. Ltd.
- Qinghai Jinshatan Sand Minerals Co. Ltd.
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Aerospace Segment is Expected to Grow the Market Due to the Indispensable Qualities of Lightweight Materials
Aerospace segment has taken the lead in the beryllium hydroxide market’s end-use mode, primarily driven by the indispensable qualities of lightweight materials, wherein beryllium hydroxide plays a crucial role. The aerospace industry’s relentless pursuit of efficiency and performance has made lightweight materials, like beryllium-based compounds, invaluable for reducing weight and enhancing overall performance.
The market in North America is projected to play a significant role in the global beryllium hydroxide market, with an estimated contribution of nearly half of its total share. Among the countries within this region, the United States stands out as the most crucial market for beryllium hydroxide.
Technical Grade Segment is Expected to Dominate the Market Due to Increasing Industrialization
Technical grade, often referred to as industrial grade, represents a category of steel primarily utilized for commercial and industrial applications. It ranks as the most standard grade in terms of chemical purity and quality in the beryllium hydroxide market.
Regional markets in Asia Pacific including Japan, are anticipated to experience rapid growth and make substantial contributions to the global beryllium hydroxide market. This expansion can be attributed to the region’s increasing industrialization, manufacturing activities, and technological advancements.
A comprehensive analysis of the major players in the beryllium hydroxide market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Beryllium Hydroxide Market
- In 2022, Materion took a significant step to foster its growth within the semiconductor and electric vehicle markets by establishing a new facility. This strategic move reflects Materion’s commitment to meeting the increasing demand for beryllium-based materials in these rapidly expanding sectors, where lightweight and high-performance materials are paramount.
- IBC Advanced Alloy Corp. recently marked a significant achievement by announcing the reception of purchase orders exceeding USD 1 million. These orders were placed for beryllium alloy parts used in Raytheon Technologies’ Advanced Targeting Forward Looking Infrared (ATFLIR) system, designed for the US Navy’s F/A-18 Super Hornet aircraft.
Key Questions Answered in Beryllium Hydroxide Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the market, and how these differences shape the market’s future growth?
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