Erbium Oxide Market Size and Growth Rate:
Erbium Oxide Market was valued at USD xx million in 2017 and projected to reach USD xx million by 2025 growing at a CAGR of xx% during the forecast period 2017 to 2025.
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Erbium Oxide Market Growth Drivers and Restraints:
However, the highly toxic nature of erbium is expected to hinder the market growth. Erbium oxide, when added, inhaled or taken orally can have harmful effects on human health. The signs of this toxicity could be ataxia, writhing, arched back, labored breath, and sedation. Erbium oxide is graded as an irritant by the Environmental Protection Agency (EPA) and can cause severe skin and eye irritation. Moreover, high raw material cost is anticipated to hinder the world market. Supply of the erbium is extremely dependent on mining activities in regions where reserves are abundant. Any political or business disruptions in these regions can cause supply problems, and hence affect market growth.
Improvement of new applications of erbium oxide nanoparticles are anticipated to provide immense opportunities for the players in the market. These nanoparticles can be used in display directors and bio-imaging. Additionally, recycling of erbium oxide from E-waste is anticipated to be an important opportunity in the next few years.
Geographical Analysis of Erbium Oxide Market:
North America trailed Asia Pacific in terms of the consumption of erbium oxide. The market in Europe is anticipated to decline due to human health-related regulations and shift of the electronics industry to China.
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Key Players of Erbium Oxide Market:
Important players in global erbium oxide market are Epsi Metals, Arafura Resources, China Rare Earth Holding Limited, Avalon Rare Metals Inc., Alkane Resources Ltd., Great Western Minerals Group Ltd., Frontier Rare Earths Ltd., Molycorp Indian Rare Earths Limited, and Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co.
Erbium Oxide Market Segmentation:
· Purity 98%
· Purity 99%
· Chemical Industry
· Electronics Industry
· North America
· South America
· Asia Pacific
· Middle East and Africa
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