The Global Rare Earth Phosphors Market Report is a compilation of comprehensive research studies of various aspects of the Rare Earth Phosphors Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Rare Earth Phosphors market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Rare Earth Phosphors market and how they will evolve in the years to come.
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In terms of volume, the global rare earth phosphors market was valued at US$ 6581.70 Tons in 2022 growing at a CAGR of 3.6% over the forecast period (2022 – 2030). . Beijing Yuji International, Denka Company Limited, Edgetech Industries LLC, Intematix Corporation, Nemoto, Nichia Corporation, OSRAM GmbH, Phosphor Technology, PhosphorTech Corporation, TOKYO KAGAKU KENKYUSHO, Other Market Participants
Global rare earth phosphors market is projected to be driven by growing consumption in LED manufacturing coupled with increasing demand from display sector. Phosphors being doped with rare earth elements and possessing the phenomenon of luminescence are known to be rare earth phosphors. Phosphors are often rare earth or transition metal compounds commonly used in fluorescent lamps, cathode ray tubes, displays, etc. In addition, europium, yttrium, and terbium are some of the commonly used rare earth elements which are doped with phosphor for plethora of applications. The aforementioned elements are categorized under heavy rare earth elements (REEs) and are produced on large scale in China. According to Government of Canada, China accounts for over 60% of annual rare earth elements production while remaining production is shared between India, Australia, the U.S., and Burma. Thus, abundant production of such elements along with its growing demand from major end-use industries such as display and lighting are likely to drive rare earth phosphors market growth.
From manufacturing standpoint, rare earth phosphor production is based on suitable host material in which an activator is added. Host material typically includes selenides, oxides, sulfides, halides, silicates, and various rare earth metals, while zinc sulfide silver and copper-activated zinc sulfide are the most common type of activators. The activators play major role in prolonging the emission time (afterglow) by shortening the decay part of phosphor emission characteristics. For instance, yttrium oxide sulfide activated with europium is used as red phosphor in cathode ray tubes. Growing incorporation of such rare earth elements owing to their luminescence potential is likely to drive the rare earth phosphors market growth.
Rapid penetration of light emitting diodes (LEDs) along with its high costs compared to other lighting alternatives is posing challenge to the rare earth phosphors market growth. However, growing consumer inclination towards energy efficient products is projected to counter such restraint in the extended run. Additionally, falling prices of light emitting diodes (LEDs) are likely to play vital role in improving the product demand. Amid covid-19 pandemic, in 2020, the demand for rare earth phosphors was less affected. Temporary closure of mines and factories destabilized the flow of supply and exports. However, robust rare earth elements inventory along with high demand for consumer electronics subsequently is driving the demand for rare earth phosphors market.
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Global Rare Earth Phosphors Market:
By Type:
- Blue
- Green
- Red
- Yellow
- Others
By Application:
- Display
- Cathode Ray Tubes (CRT)
- Field Emission Display and Plasma Displays Panels (FED and PDP)
- Others
- Lighting
- X-Ray
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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