The global rubidium market is expected to develop at a CAGR of over 4% during the forecast period. The major factor driving the growth of the market studied is its growth in the applications of biomedical research. On the flip-side, the COVID-19 outbreak is expected to have a huge impact on the market studied.
- Rubidium finds its major application in the specialty glasses. It is utilized in making rubidium carbonate which has several properties including electrical conductivity, etc.
- North America is expected to be the largest market of the rubidium market due to the large-scale production in the region.
Key Market Trends
Specialty Glass to be the Largest Application Sector for Rubidium Market
- Rubidium finds its application in specialty glasses. It is utilized in making rubidium carbonate which provides properties including electrical conductivity and better stability. Its key application in specialty glasses is in fiber optic media transmission frameworks.
- In 2019, the total revenue of the fiber optic cable manufacture in Germany is estimated to be USD 91.2 million and is anticipated to grow up to USD 94.6 million by the end of 2020.
- The properties of rubidium-utilized specialty glasses like photo-emissivity make it perfect for electrical-signal generators moving sensor gadgets, night vision gadgets, photoelectric cells (solar panels), and photomultiplier tubes.
- It is further employed as an atomic resonance-frequency-reference oscillator which plays a crucial role in global positioning systems.
- The total solar PV cell production in the world is projected to be around 129 gigawatts in 2019 increase from 21 gigawatts in 2010.
- Therefore, the increased demand is predicted to drive the growth of the market studied during the period of forecast.
North America Accounted for the Largest Share
- Specialty glasses, which constitute the leading market for rubidium, are used in fiber optics, telecommunications systems, and in night-vision devices. The carbonate (Rb2CO3) is used as an additive to these types of glass, where it reduces electrical conductivity and improves stability and durability.
- In 2020, revenue in the consumer electronics segment of the United States is projected to be around USD 117.8 billion, and the market is forecasted to grow at a CAGR of 4.9% between 2020 to 2023.
- The United States fiber optics market revenue is estimated to be around USD 1.2 billion in 2019 and is anticipated to accrue around USD 1.55 billion by 2025.
- Rubidium salts are used in the biomedical applications such as in antishock agents and the treatment of epilepsy and thyroid disorder. A radioactive isotope, rubidium-82, is utilized as a blood-stream tracer in positron discharge tomographic imaging, and rubidium chloride, utilized as an antidepressant.
- Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast period.
The rubidium market is consolidated. Some of the players in the market include American Elements, LANHIT, Lithium Australia NL, Montero Mining & Exploration Ltd, and Inorganic Ventures, Inc.
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