Yttrium oxide, also known as yttria, is an oxide of yttrium metal. The rare earth metal oxide is one of the most stable compound. Hence, it is used in applications in several industries. Yttrium oxide possesses several important properties such as high erosion resistance, high hardness, chemical inertness, and mechanical strength. Other ceramics do not exhibit these characteristics. Yttrium oxide also has very high thermal stability and resistance to molten metals. Thus, it is used in refractory materials. The oxide also demonstrates high stability against radiations, primarily UV and microwave radiation. Thus, it is employed as an additive in paints & coatings for high-temperature and radiation applications. Yttrium oxide is also used in the manufacture of yttrium iron garnets for microwave filters and sensors, which are used for gamma rays and x-rays. Another major application of yttrium oxide is in the manufacture of YSZ, i.e. Yttrium Stabilized Zirconia. Yttria is also used as a catalyst in (polymerization) manufacture of polymers.

Yttrium oxide is a compound with exceptional chemical and physical properties. Thus, the market for this ceramic is expected to expand across the globe for niche applications. Yttrium oxide has several special applications and has virtually no effective substitute. The phosphor market is the key application for yttrium oxide. However, recent substitution of CRT displays with LED displays is hampering the yttrium oxide market. This is estimated to result oversupply, thereby leading to a decline in prices. On the other hand, demand for yttrium oxide is anticipated to rise in YSZ application. Thus, the global market for yttrium oxide is projected to expand as the price, supply, and demand is anticipated to stabilize during the forecast period.

The yttrium oxide market can be segmented based upon purity and application. In terms of purity, the yttrium oxide market can be divided into 3N, 4N, and 5N. Purity plays an important role in application of yttrium oxide. Yttrium oxide is used to subdue oxidation; therefore, majority of applications require high purity yttrium oxide as any impurity may lead to oxidation and corrosion. Based on application, the yttrium oxide market can be classified into oil & gas, chemical intermediate, glass, ceramics, and others. Chemical intermediate is one of the key applications of yttrium oxide; yttrium stabilized zirconia is the key product in this segment. The oxide is also used in the manufacture of glass. Yttrium oxide has a high melting point; high strength; and good shock resistance, which are effectively transferred to glass resulting in a strong and shock resistant glass. Similarly, production of yttrium iron garnets also exploit the radiation resistance property of yttrium, for manufacture of microwave filters.

In terms of geography, the yttrium oxide market can be segregated into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is one of the leading consumers of yttrium oxide. Strong growth in the electrical & electronics industry in the region has created significant demand for yttrium oxide. In terms of consumption, China alone accounts for more than 40% share of the yttrium oxide market in Asia Pacific. The country is also a key producer of yttrium metal and yttrium oxide due to the presence of large number of reserves of the rare earth metal. North America and Europe are also significant markets for yttrium oxide due to the presence of a strong functional coatings market in these regions.

Prominent players operating in the global yttrium oxide market are Jiangxi Rare Earth Corp., and Molycorp.Inc

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
  • Europe
  • 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.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Yttrium Oxide Market

Pre Book