Absolute Market Insights recent analysis of the Rare Earth Phosphors Market finds that the increasing demand from the Rare earth phosphors market is projected to be driven by growing consumption in LED manufacturing coupled with increasing demand from display sector. is expected to witness maximum growth in the Rare Earth Phosphors Market during the forecast period. The global Market revenue stood at a value USD 40.7 Mn in the year 2021.
Market Synopsis
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.
Rare Earth Phosphors Market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behaviour such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Rare Earth Phosphors Market is predicted to grow at a CAGR of roughly 3.60% during the forecast period.
- The Rare Earth Phosphors Market was estimated to be worth roughly 40.7 Mn in 2021 and is expected to reach USD by 2028; based on primary research.
- On the basis of region, is projected to dominate the worldwide Rare Earth Phosphors Market.
Market Dynamics:
Industry Analysis:
The report covers exhaustive analysis on the global Rare Earth Phosphors Market. Industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.
Drivers:
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.
Restraint:
Growing consumer inclination towards energy efficient products is projected to counter such restraint in the extended run.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pervasive might lead to a significant delay in the commercial roll-out of the packaging industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Quarterly Market Revenue Forecast 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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The Report on Rare Earth Phosphors Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Based on the regions, Asia Pacific followed by Europe emerged as the largest regional markets in 2020. Increasing need for electricity along with early adoption of energy efficient light sources has driven the product demand in these regions. Moreover, increasing demand for automotive displays in conjunction with high rate of car sales is likely to bolster rare earth phosphors market in automotive display sector in Europe and Asia Pacific.
China being one of the largest producers of heavy rare earth elements, industry participants operating in the region are likely to gain competitive edge in terms of prices. In addition, high rate of display manufacturing activities in China, Japan, India, and Taiwan are projected to further drive product demand in display manufacturing sector which subsequently will drive rare earth phosphors market in the region.
List of Prominent Players in Rare Earth Phosphors Market:
- Beijing Yuji International Co., Ltd.
- Denka Company Limited
- Edgetech Industries LLC,
- Intematix Corporation
- Nemoto &Co., Ltd.
- Nichia Corporation
- OSRAM GmbH
- Phosphor Technology
- PhosphorTech Corporation
- TOKYO KAGAKU KENKYUSHO CO., LTD.
- Other Market Participants
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Rare Earth Phosphors Market?
- How will the Rare Earth Phosphors Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Rare Earth Phosphors Market?
- What is the Rare Earth Phosphors Market drivers and restrictions?
- What will be the CAGR and size of the Rare Earth Phosphors Market throughout the forecast period?
This market titled Rare Earth Phosphors Market will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years: 2016-2028
Base Year: 2021
Historic Years: 2016-2020
Forecast Years: 2022-2028
Segmentation Covered
- 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
- Display
Region & Counties Covered
- North America
- The U.S.
- Canada
- Mexico
- 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
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Report Coverage
- Market growth drivers
- restraints, opportunities
- Porter’s five forces analysis
- PEST analysis
- Value chain analysis
- Regulatory landscape
- Technology landscape
- Patent analysis
- Market attractiveness analysis by segments and Regional
- Company market share analysis
- COVID-19 impact analysis
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