Beryllium metal possesses unique properties like high stiffness, high melting point, good thermal and electrical conductivity which makes it useful in manufacturing of various alloys used in defense, aerospace and automotive applications.
The global Beryllium Market is estimated to be valued at US$ 419.24 Million in 2023 and is expected to exhibit a CAGR of 2.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the beryllium market is the increasing demand for beryllium alloys. Beryllium alloys like beryllium copper, beryllium nickel and beryllium aluminium alloys have excellent stiffness, strength and dimensional stability attributes. These alloys find wide usage in applications involving springs, contact assemblies, connectors and other precision instruments. The exceptional properties of beryllium alloys allow design of components with lighter weight, longer life and greater reliability, thereby fueling their rising demand across diversified end use industries over the forecast period.
Segment Analysis
The global beryllium market is segmented into beryllium metal, beryllium oxide, and beryllium hydroxide. The beryllium metal segment dominates the market and accounted for over 30% of the total market share in 2023. Beryllium metal is used majorly in applications such as aerospace, military and defense, telecommunication, and automotive. It exhibits high strength, stiffness, heat resistance, and dimensional stability, which increases its demand in these application segments.
Key Takeaways
The Global Beryllium Market Demand is expected to witness high growth, exhibiting CAGR of 2.1% over the forecast period, due to increasing demand from defense and aerospace industries. The beryllium market size is expected to reach US$ 469.12 Mn by 2030 from US$ 419.24 Mn in 2023.
Regional analysis
North America dominated the global beryllium market in 2023 and is expected to continue its dominance during the forecast period. The presence of major beryllium producers and consumers such as the US contributes to the region's large market share. Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the rising automotive, aerospace and defense industries in the region.
Key players
Key players operating in the beryllium market are American Beryllia Inc., American Elements, Belmont Metals, Hunan Shuikoushan Nonferrous Metals Group Co. Ltd, IBC Advanced Alloys, Materion Corporation, NGK Metals Corporation, and The Atomic Company Kazatomprom. Materion Corporation is the worldwide leader in beryllium and beryllium composites production. Belmont Metals is a leading supplier of beryllium products in North America.
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