The beryllium market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to increasing usages of beryllium in military aerospace applications, rising demand for beryllium in nuclear power generation.

A beryllium is a gray metal that has chemical characteristics similar to aluminum. It is fragile at room temperatures. It does not obtain in nature. Beryllium is found in minerals, beryl, and emerald. Beryllium is used in cogs and gears generally in the automation corporation. It has a low density and is relatively soft. To make non-sparking tools, springs, electrical contacts, gyroscopes, and spot-welding electrodes the beryllium is used as alloys with nickel and copper.

The covid-19 pandemic affected the demand and supply of beryllium market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Market Segment Insights

Based on product types, the beryllium market is divided into metals, ceramics, alloys, and others. The alloys segment accounts for a key share of the market. Growth of the market is attributed to increasing living standards of customers and increasing per capita income level. However, the metals segment is anticipated to expand at a rapid pace during the forecast period due to factors such as improved energy management and rising demand for beryllium in automotive industry.

On the basis of end-user industry, the market is categorized into electronics telecommunication, automotive, oil gas and other energy?, healthcare, aerospace defense, industrial components, and others. The automotive segment accounts for a significant share of the market. Growth of the market is attributed to rising demand for beryllium for extending the service life and increasing production of vehicles. However, the industrial components segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing domestic demand for beryllium and rising automotive fuel efficiency.

On the basis of region, the beryllium market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East and Africa. The market of Asia Pacific is anticipated to expand at a high CAGR during the forecast period due to increasing usages of beryllium in camera applications and as connecting material in battery. North America is expected to hold major market share due to rising demand for beryllium in high-temperature applications.

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Key Players covered in the Report

NGK Metals Corp.; IBC Advanced Alloys Corp.; Belmont Metals; American Beryllia Inc.; Hunan Shuikoushan Nonferrous Metals Group Co. Ltd. (SKS); Materion Corp.; Advanced Industries International; Changhang Group; Esmeralda de Conquista Ltda; Zhuzhou Sinotech Industries; Applied Materials; TROPAG Oscar H. Ritter Nachf GmbH; Ningreia Orient Tantalum Industry Co. Ltd.; and Grizzly Mining Ltd.

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