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Cesium Market size to increase by 1,680.79 MT from 2022 to 2027, North America to occupy 37% market share, Technavio

NEW YORK, Feb. 23, 2024 /PRNewswire/ — The cesium market by end-user, product, and geography, forecast and analysis 2023-2027 report has been published by Technavio. Market size is forecast to grow by 1,680.79 MT between 2022 and 2027 at a CAGR of 2.44%. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at 12,511.65 MT. By region, the cesium market is segmented into North America, APAC, Europe, Middle East and Africa, and South America. North America will account for 37% of market growth during the forecast period. The market in this region will expand due to the increasing use of cesium in a variety of applications, including nuclear medicine, analytical chemistry, and the production of electricity. US and Canada are the major consumers of cesium, and this can substantially aid in retaining the region’s market share over the forecast period. Download PDF Sample Report

Report Coverage

Details

Page number

159

Base year

2022

Historic period

2017 – 2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 2.44%

Market growth 2023-2027

1680.79 MT

Market structure

Concentrated

YoY growth 2022-2023(%)

2

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 37%

Key countries

US, Canada, Zimbabwe, China, and Germany

Company profiles

The cesium market report includes information on the key products and recent developments of leading vendors, including:

  • ADVA Optical Networking SE – The company’s key offerings include cesium solutions such as OSA 3230 Series, OSA 3300 HP.
  • Barentz International BV – The company offers cesium solutions such as Crystal, Lumps. Under its unified segment, the company also focuses on providing solutions for human nutrition, pharmaceuticals, personal care and animal nutrition.
  • Battle Chemicals Co. Ltd. – The company offers cesium solutions such as Cesium Iodide, Cesium Chloride, Cesium Sulfate as its key offering. Download PDF Sample Report

Market dynamics

The market is driven by factors such as the growing importance of cesium in cancer treatment, diversified applications of cesium, and the increase in the use of cesium in photoelectric cells. However, the availability of substitutes is hindering market growth.

Market segmentation

  • Based on end-user, the market is segmented into medical & pharmaceuticals and oil & gas. The medical & pharmaceuticals segment accounted for the largest share of the market in 2022.
  • Based on geography, the market is segmented into North America, APAC, Europe, Middle East and Africa, and South America. Download PDF Sample Report

Analyst Review

The cesium market is thriving, driven by diverse applications across various industries. Pollucite and lepidolite are key sources, with significant deposits found in locations like Bernic Lake. The United States leads in lithium production, essential for drilling fluids, optical glass, and catalytic promoter manufacturing. Cesium’s role extends to advanced technologies such as vacuum tubes, atomic clocks, and GPS satellites. Its precise timekeeping abilities are pivotal, showcased in cesium clocks and radioactivity surveillance equipment. Additionally, cesium plays a crucial role in cancer treatment, neuroimaging, and PET scans. In petrochemical processing, cesium chloride finds utility. The future of the cesium market looks promising, driven by innovations across the web, cellular devices, and optical sectors.

The cesium market is witnessing robust growth driven by diverse applications across various sectors. Cesium formate finds extensive use in the oil & gas end-use industry due to its effectiveness in drilling fluids. Formic acid, another cesium compound, is utilized in cancer treatment and as a chemical reagent. With concerns over radioactive cesium compounds, industries are seeking substitutes like cesium chloride, leading to wide adoption. Companies like Island Pyrochemical Industries leverage cesium for fireworks production, while BlueQuark Research & Consulting tracks the global cesium market trends. Regulatory bodies like the US Department of the Interior monitor cesium’s impact, especially in mineral waters. Pyrophoricity of cesium underscores its handling challenges, yet its role in PET scanning underscores its importance in scanning technologies.

The cesium market is experiencing significant growth, driven primarily by its diverse applications across various sectors. In the medical field, cesium compounds like cesium chloride and cesium nitrate are utilized in cancer therapy, targeting cancerous cells with precision. Medical imaging techniques such as positron emission tomography (PET) rely on cesium-based detectors for accurate diagnoses. Additionally, cesium is employed in radiography and research & development activities within the pharmaceutical sector. Its unique properties as a coolant and oxidizer make it indispensable in pyrotechnic facilities. Moreover, cesium carbonate and cesium hydroxide find applications in adjusting acidic and alkaline pH levels and regulating enzyme systems. With its wide-ranging utility and expanding demand, the cesium market is poised for continuous growth in the coming years. Download PDF Sample Report

Related reports:

The ferric chloride market share is expected to increase by USD 155.76 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.17%. 

The ammonium chloride market share is expected to increase to USD 250.99 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.87%. 

Table of Contents:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.co

SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/cesium-market-size-to-increase-by-1-680-79-mt-from-2022-to-2027–north-america-to-occupy-37-market-share-technavio-302069000.html
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