Gadolinium Market Reaching US$ 8.8 Billion by the Year 2032 at a CAGR of 5.2% in the Forecast Period 2022 to 2032 | Report by Future Market Insights, Inc.

Published Via 11Press : The global gadolinium market is worth US$ 5.3 Billion as of now and is expected to reach US$ 8.8 Billion by the year 2032 at a CAGR of 5.2% between 2022 and 2032.

Gadolinium is amongst the silvery rare earth metals that display malleability and ductility. Gadolinium does react with atmospheric oxygen/moisture (slowly) for forming a black coating. Gadolinium does form trivalent ions abreast with fluorescent properties. Salts of gadolinium (III) are used in the form of phosphors in several cases.

Gadolinium is one of the constituents in numerous minerals like bastnasite and monazite. This metal is so reactive that it can’t exist as an individual identity. The abundance of gadolinium in the crust of the earth is close to 6.2 mg/Kg. The major mining areas are in India, Sri Lanka, Brazil, the US, China, and Australia. The reserves come to more than 1 Mn tons. Almost 400 tons of pure gadolinium get produced worldwide every single year.

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Lepersonnite-(Gd) is the only known material with gadolinium that is essential. However, the presence is rare. Gadolinium gets extracted from its salts or oxide by heating with calcium at 1450 degree Celsius, that too, in an argon atmosphere.

The applications include imaging agents, medical equipment, electronics, and nuclear reactors. As it’s rarely available, the prices have climbed manifold in the last few years and the scenario is expected to remain the same in the near future as well.

Technological advancements are another factor keeping the Gadolinium market on its toes. Higher efficiency and superlative metallurgical properties are vital reasons driving the growth of the gadolinium market. It has been observed that Gadolinium, even in smaller amounts, does improvise the efficiency and thermal resistance of the metals like iron.

At the same time, the fact that the cost of gadolinium is on rise on a continuous basis can’t be ignored. This factor is likely to restrain the gadolinium market in the forecast period. Future Market Insights has etched these findings with future perspectives in its latest market study entitled ‘Gadolinium Market’. Its team of analysts and consultants has paved the way for a 360-degree approach herein; absorbing macros as well as micros.

Key Takeaways from Gadolinium Market

• Europe holds the largest market share due to customers looking out for various sustainable alternatives.
• The Asia-Pacific is expected to grow at the fastest rate in the gadolinium market in the near future; especially in Japan and China. With tremendous investments by these countries along with India and China, the global gadolinium market is bound to grow graciously in the years to come.
• North America is going steady with respect to Gadolinium market in the forecast period.

Competitive Landscape

• GE Healthcare Pharma Ltd., in the year 2020, did acquire ownership of four diagnostic agents of Daiichi Sankyo in Japan.
• Bracco Imaging SpA, in 2020, did receive approval from the US FDA for ProHance, an MRI contrast agent for usage in pediatric patients and neonates.
• Bayer AG, in 2019, did receive approval for Gadolinium-based contrast agent called ‘Gadavist’. It is used in cardiac MRI to diagnose coronary artery disease.
• Guerbet and InterSystems Corporation, in 2019, partnered for expanding the former’s contrast media injection management solution.

“The exorbitant price of Gadolinium is expected to get the tag of being ‘costly’ in the near future”, says an analyst from Future Market Insights.

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What does the Report enclose?

• The research study is based on type (Gadolinium Acetate, Gadolinium Acetylacetone, Gadolinium Oxide, Gadolinium Nitrate, Gadolinium Chloride, and likewise), and by application (electronics, medical equipment, imaging agents, nuclear reactors, and likewise).
• Emerging economies of the Asia-Pacific are expected to drive the Gadolinium Market in the near future.

Key Segments Profiled in the Gadolinium Industry Survey

Type:

• Gadolinium Acetate
• Gadolinium Acetylacetonate
• Gadolinium Oxide
• Gadolinium Nitrate
• Gadolinium Chloride
• Others

Application:

• Electronics
• Medical Equipment
• Imaging Agents
• Nuclear Reactors
• Others

Region:

• North America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan
• Japan
• Latin America
• Middle East & Africa

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