Demand for Beryllium and Impact of COVID-19……..


The global beryllium market size is expected to reach USD 80.7 million by 2025, according to a new report by Grand View Research, Inc. The rising consumption of beryllium owing to its superior physical and mechanical properties is expected to drive growth.
The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.
Increasing penetration of the metal in aerospace and defense sector is expected to drive the product demand. Aerospace industry consumes around 15% of the overall beryllium that is produced due to the superior properties exhibited by the product including high stiffness and thermal & electrical conductivity.
Beryllium and its alloys are used to effectively manufacture functioning products that cater to a wide range of end-use industries such as aerospace, energy, automotive, medical, electronics, and defense. The growing defense industry in economies such as China, Japan, and India owing to high investments is expected to drive growth in the region.
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The U.S. is a major consumer of the metal. The Department of Defense, U.S., has recognized high-purity beryllium as a critical material for the manufacturing of aerospace and defense components, owing to which, the product is stockpiled for defense-related applications in the event of national emergency. This is expected to lower the availability of the product for other applications including oil & gas and industrial components.
Further key findings from the report suggest:
·         Aerospace & Defense is the major application segment of beryllium & its alloys. It is expected to denote a CAGR of 3.2% over the forecast period due to the rise in defense-related expenditure, especially in countries such as the U.S., China, and India
·         Industrial segment dominated the market from 2014 to 2016; however, the market is expected to witness gradual decline owing to the increasing use of substitutes in the manufacturing of industrial components
·         North America accounted for over 90% of the overall consumption in 2016 owing to the rising consumption of industrial components in consumer electronics and defense sectors
·         Asia Pacific beryllium market is likely to witness fastest growth of 1.2% over the forecast period with Japan estimated to account for the highest consumption due to the rising use of industrial and consumer electronics and increasing defense spending
·         Materion Corporation is the major producer of the metal and exhibits a competitive edge over its counterparts owing to the magnitude of its production volume and extensive distribution channels
The global beryllium market size was estimated at USD 124.6 million in 2016. The increasing use of the metal and its alloys in key application industries including aerospace & defense, telecommunications, and consumer electronics is expected to drive market growth over the next eight years. 
Factors, such as superior properties including lightweight, stiffness & heat dissipation, low density, high melting point, thermal conductivity, heat absorbing capacity, and dimensional stability at different temperatures, are likely to drive the demand for the product. In addition, properties offered by alloys such as electrical conductivity, corrosion resistance, and long-lasting spring are expected to drive product demand.
The product can be alloyed with various materials including magnesium, copper, aluminum, and iron, thereby generating a high demand in electronic, medical, and industrial applications. However, the prices of its alloys are likely to emerge as one of the major reasons for their substitution in automotive applications, which in turn is likely to result in stunted growth.
Beryllium is primarily produced using bertrandite and beryl ores. However, 90% of the current production is derived from bertrandite ore. The rising demand for the metal is anticipated to compel ore mining companies to invest in new sites. However, depleting raw material resources are estimated to be a key concern for the industry.
The rising demand for third-generation and fourth-generation technologies enhancing mobile communications power and bandwidth speed is further expected to drive the product demand. Key opportunities for recycling the metal out of scrap is also expected to provide new opportunities for the market players.
High-purity beryllium is expensive owing to its properties such as high stiffness, lightweight, and high elastic modulus. High cost and lack of product availability to fulfill demand from application industries across the globe are expected to impel the end-users to replace the product with low- cost substitutes including aluminum, copper alloys and titanium; which in turn is likely to restrain market growth.
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https://www.grandviewresearch.com/press-release/global-beryllium-market
Grand View Research has segmented the global beryllium market on the basis of application:
Beryllium Application Outlook (Volume, Kilograms; Revenue, USD Thousands; 2014 - 2025)
·         Industrial
·         Consumer Electronics
·         Automotive Electronics
·         Defense
·         Telecom
·         Energy
·         Medical
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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