Californium is one of the highly radioactive elements and is a silvery white colored element. Californium belongs to the actinide series and is considered as rare earth element. The element californium derives its name from state of California as it was first synthesized in 1950 at the University of California. Californium is one of the few trans-uranium elements which could be synthesized and used for practical applications. Californium finds application in starting of nuclear reactors mainly due to its ability of emitting neutrons. Moreover, californium can also be used to study the neutron spectroscopy or neutron diffraction. Californium plays a vital role in synthesizing higher mass elements such as ununoctium. In spite of its considerable usages in nuclear reactor and in synthesizing of heavy mass elements, the radioactive nature of californium affects its application. Californium is produced in very miniscule quantities in nuclear reactor by bombarding plutonium by neutrons. Since, the production of californium is very less, the market for californium is extremely niche. Currently the production for californium carried out in very small quantities at the Oak Ridge National Laboratory in U.S. and in Research Institute of Atomic Reactors, Russia.
Californium exists in two crystalline forms under normal pressure and the third form at extremely high pressure. The two crystalline forms available, tend to get tarnished at room temperature. The most common isotope of californium (californium-252) has a half life of 2.64 years while the most stable isotope of californium (californium-251) has a half life of 898 years. Californium is chiefly used as a source of emission of neutrons in nuclear reactor. According to one of the researches, one micro gram of californium has a capability to release 0.17 billion neutrons suitable to start multiple nuclear fission reactions. This ability of californium enhances the delivery of neutrons in nuclear reactors, making it ideal substitute for various other radioactive elements used for free neutrons source. Moreover, as californium emits high amount of neutrons, it could be used in the discovery of precious metals such as silver or gold. This potential application is expected to boost the demand for californium in next few years. Furthermore, one of the isotopes of californium (californium-252) finds usage in cancer treatment. Recently, californium is used in moisture gauges primarily used in detecting ground water movement. The radioactive nature of californium coupled with its complex process of production is anticipated to restrict the large scale production of californium, thus affecting californium market to certain extent.
Considering all the potential usages, the market for californium is expected to grow in next few years. The cancer treatment application is anticipated to increase the production of californium making it available in commercial quantities. The demand for californium is expected to be high from developed regions such as Europe and the U.S as these regions show tremendous growth potential in cancer research. Owing to strong research work in nuclear reactions and its potential benefits, the californium market is anticipated to flourish in the developed regions. Moreover, californium has a strong ability of synthesizing heavy mass elements which makes californium vital in research work. The capability of californium to release large number of neutrons could be used in discovery of precious elements such as gold and silver. In spite of the challenges posed regarding the production of californium, the potential range of applications is expected to drive the market of californium in the developed regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.