COVID-19 Impact on Terbium Oxide Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the terbium oxide market in the near future.
Key Drivers and Restraints of Terbium Oxide Market
- X-rays help medical professionals to accurately diagnose and further recommend treatment. These X-rays are generated with the use of terbium oxide, which also acts as activator of fluorescent powder, which is a fluorophor of X-ray intensifying screen.
- Terbium oxide is also used in special lasers and as a dopant in solid-state devices. It provides excellent projection for color TV acting as activator for green phosphors used in color TV Tubes.
- Presence of various alternative uses of terbium oxide in the manufacture of different terbium compounds is boosting the terbium oxide market
- Chemical, physical, and toxicological properties of terbium oxide have not been thoroughly investigated. This restrains companies operating in the electronics industry from using terbium oxide in the manufacture of fluorescent products.
Terbium Oxide: Purity Segment
- Based on purity, the global terbium oxide market can be segmented into 98% purity, 99% purity, and others
- The 99% purity segment is expected to hold dominant share of the global terbium oxide market during the forecast period. Terbium oxide is majorly used as an activation agent for fluorescent powders.
Terbium Oxide: Application Segment
- Based on application, the global terbium oxide market can be divided into optics & ceramics, fluorescent lamps, television projection, and others
- The fluorescent lamps segment is expected to account for dominant share of the terbium oxide market during the forecast period. Terbium oxide is used in the preparation of other terbium compounds, which are employed as activation agents due to their stability. This is projected to propel the demand for terbium oxide in the next few years.
Asia Pacific to Dominate Terbium Oxide Market
- In terms of region, the global terbium oxide market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to constitute major share of the global terbium oxide market during the forecast period. Increase in demand for home electrical appliances in Asia Pacific is projected to boost the market in the region.
- China has started consuming terbium oxide on a large scale owing to the increase in manufacture of electronics and medical equipment in the country. This is anticipated to fuel the terbium oxide market in China during the forecast period. Strong growth of medical and electronics industries in China and India is anticipated to propel the terbium oxide market in these countries.
- The market in Europe is projected to expand at a moderate pace compared to that in North America during the forecast period. Europe has stringent regulations regarding fire protection measures in several industries.
- Rise in demand for modern day medical equipment in Europe is anticipated to propel the terbium oxide market in the region during the forecast period
- The terbium oxide market in Latin America and Middle East & Africa is estimated to expand at a sluggish pace compared to that in North America and Europe during the forecast period
Key Manufacturers Operating in Terbium Oxide Market
The terbium oxide market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the terbium oxide market include:
- Yixing Xinwei
- Nanjing Puxi Chemicals
- Ganzhou Rare Earth Mineral Industry
- China Minmetals Rare Earth
- Ganzhou Qiandong Rare Earth Group
- Jiangyin Jiahua Advanced Material Resouces
- Shanghai Ruifeng Chemicals
- Hangzhou Xinfei Non-ferrous Metals
- Longyi Heavy Rare-Earth
- Nanjing Xuang ChemicalHuizhou GL Technology
- Chenguang Rare Earth
Terbium Oxide Market: Research Scope
Terbium Oxide Market, by Purity
- 98% Purity
- 99% Purity
- Others
Terbium Oxide Market, by Application
- Optics & Ceramics
- Fluorescent Lamps
- Television Projection
- Others
Terbium Oxide Market, by End-use
- Chemicals
- Electronics
- Others
Global Terbium Oxide Market, by Region
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Terbium Oxide: Introduction
- Terbium oxide appears in the form of a dark brown-black powder with spherical morphology. Terbium oxide is also known as tetraterbium heptaoxide and is relatively stable and easier to be stored.
- Terbium oxide plays an important role as an activator for green phosphors used in color TV tubes. It is one of the chief commercial terbium compounds. Terbium oxide is also used in special lasers and as a dopant in solid-state devices. It is also frequently used as a dopant for crystalline solid-state devices and fuel cell materials.
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