The global beryllium market size was valued at 402.01 MT in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 2.12% from 2022 to 2030. Beryllium alloys are widely used in the aerospace and automotive sectors, which are driving demand for the metal. These alloys are extremely strong and are ideal for use in structural materials. Moreover, increasing awareness about the benefits of beryllium alloys is also opening new avenues for its application in other industries. Furthermore, rising R&D activities and technological innovations will also drive the growth of the beryllium market in the future. Military spending is another key driver for the beryllium market growth.
Global Beryllium Market: Regional Insights
Regionally, North America is expected to dominate the global beryllium market over the forecast period owing to the presence of strong economy in the region which is significantly contributing to growth of the market. Also, major part of the global beryllium production happen in the United States. As per the data given by USGS (US Geological Survey), about 60% of the world’s beryllium resources are in the United States, including the Spor Mountain area in Utah, the McCullough Butte area in Nevada, the Black Hills area in South Dakota, the Sierra Bianca area in Texas, the Seward Peninsula in Alaska, and the Gold Hill area in Utah.
Asia Pacific is projected to witness fastest growth in the global market over the forecast period owing to the presence of emerging countries like China. China is a second-largest producer of beryllium worldwide, after the United States. For instance, in China, the beryl mineral reserves are majorly distributed in Xinjiang (83.5%) and Sichuan (9.6%), with a total of 93.1% in these two provinces, followed by Gansu, Yunnan, Shaanxi, and Fujian
Figure 1. Global Beryllium Market Value Share (%), By Region, 2021
Global Beryllium Market Drivers:
Growing use of beryllium in aerospace and military industry is driving growth of the market. It is used to fabricate lightweight precision instruments due to its light weight, stiff, and stable properties over a wide temperature range. High purity beryllium is used widely used in structures, instruments, digital electronics, that are found in defense weapon systems. Increasing number of commercial airplanes is again projected to foster market growth. According to Boeing, the market value for commercial airplanes is expected to reach USD 3.1 trillion by 2028, as operators are expected to replace older jets with more fuel-efficient models and expand their fleets to accommodate the steady rise in air travel across the emerging and established markets.
Increasing application of beryllium from medical equipment is also expected to fuel market growth. Beryllium is widely used for improving imaging, improving imaging, increasing strength and stability, miniaturizing optical lasers, simplifying surgery, and analyzing blood.
Global Beryllium Market Opportunities:
Growing demand for beryllium oxide in nuclear power is expected to hold potential growth opportunities for key players in the near future. For instance, beryllium has been the ideal choice of material for neutron reflectors (and/or for some neutron moderation) for various nuclear reactors, such as the BR2 Belgian Engineering Test Reactor in Belgium, the MARIA research reactor of the Institute of Atomic Energy in Poland, and the High Flux Isotope Reactor in the United States.
Emerging application of beryllium mirror such as night-vision systems and space cameras for military is also expected to present significant growth opportunities in the near future. Moreover, beryllium mirrors have greatly improved efficiencies of laser cutting machines for several materials and high-power handling for drilling, welding, and cutting applications.
|Base Year:||2021||Market Size in 2021:||402.01 MT|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||2.12%||2030 Value Projection:||483.09 MT|
American Beryllia Inc., American Elements, Belmont Metals, Hunan Shuikoushan Nonferrous Metals Group Co. Ltd (SKS）, IBC Advanced Alloys, Materion Corporation, NGK Metals Corporation, and The Atomic Company "Kazatomprom"
|Restraints & Challenges:||
Global Beryllium Market Trends:
Growing number of partnership and agreements among key players for geographical expansion has emerged as major trend in the market. For instance, in December 2019, Ucore Rare Metals Inc. announced that it partnered with Materion Corporation to respond to an open US government solicitation for a strategic assessment of the domestic heavy rare earth element market, in conjunction with an engineering evaluation of the viability of HREE separation capabilities at various sites within the United States.
Expanding automotive sector due to increasing sale of automobiles is another key trend observed in the market. This trend is expected to continue in the near future as well as due to increasing disposable income of consumers across developing regions.
Global Beryllium Market Restraints:
Competition from potential competitor is projected to hinder the market growth. For example, copper alloys containing nickel and silicon, titanium, tin, or other alloying elements or phosphor bronze alloys can be alternative for beryllium-copper alloys.
Unfavorable conditions arising due to Covid-19 pandemic is another key factor expected to restrict the market growth. COVID-19 has severely impacted the economic condition in various countries. Countries, such as India and China, experienced an impacts in the first quarter of 2020, while in countries, where the impact started from March, have witness a major effect in the second quarter of 2020.
Figure 2. Global Beryllium Market Value Share (%), By Product Type, 2021
Global Beryllium Market Segmentation:
The global beryllium market report is segmented into end-user industry, product type, and region
Based on end-user industry, the market is segmented into industrial components, automotive, healthcare, aerospace and defense, oil and gas and other energy, electronics and telecommunication, and other end-user industries. Out of which, industrial components is expected to dominate the global market over the forecast period and this is attributed to the growing demand for manufacturing wide range of industrial equipment. It is used for manufacturing mine detection and minesweeping systems that keep global powers secure, mineral mining equipment bearings that run underground coal, and thermal-efficient plastic and metal casting molds that improve efficiency and offer improved tolerance for plastics products.
Automotive segment is also expected to witness significant growth in the near future and this is owing to the increasing use of beryllium in manufacturing connector material for high temperature and battery applications. Moreover, it is also used in optical filters for speed control, night vision, sensors, and camera applications.
Based on product type, the market is segmented into Alloys, Metal, Ceramics, and Other Industrial Products. Out of which, Metal is expected to dominate the global market over the forecast period and this is attributed to the growing demand for pure metal for producing nuclear weapons and reactors, aircraft disc brakes, aircraft-satellite-space vehicle structures and instruments, missile parts, X-ray transmission windows, fuel containers, heat shields, rocket propellants, precision instruments, navigational systems, and mirrors.
Alloys segment is also expected to witness significant growth in the near future and this is owing to the growing demand from aerospace, automotive, and oil and gas. It offers miniaturization, reliability, improved management of energy, and extending the service life of equipment.
Global Beryllium Market: Key Developments
In March 2018, American Elements unveiled an advanced production facility for high-purity beryllium components, as a part of its commitment on doubling its production capacity of high-purity beryllium.
In May 2019, after completing first article qualification, IBC Advanced Alloys Corp. started initial production run for a major satellite manufacturer. This is a very important step toward commercial-scale production of precision beryllium alloy parts for the satellite industry.
In August 2019, IBC Advanced Alloys Corp. announced that it received new orders of high-performance beryllium-aluminum alloy parts made from IBC’s proprietary Beralcast material from a leading global manufacturer of semiconductor and electronics assembly equipment. The orders for the fourth quarter in 2019, made under an existing exclusive supply agreement between IBC and the semiconductor assembly equipment manufacturer, were valued at USD 400,000.
In April 2020, IBC Advanced Alloys Corp. announced that it plans to continue to manufacture its strategic alloy products because of the Company’s essential role as a part of the US Defense Industrial Base.
Global Beryllium Market: Key Companies Insights
The global beryllium market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global beryllium market are American Beryllia Inc., American Elements, Belmont Metals, Hunan Shuikoushan Nonferrous Metals Group Co. Ltd (SKS）, IBC Advanced Alloys, Materion Corporation, NGK Metals Corporation, and The Atomic Company "Kazatomprom"
*Definition: Beryllium alloys have superior properties that make them a great material for a variety of applications. They are lightweight and low in density, and have high thermal conductivity. In addition, they are dimensionally stable even at high temperatures. These attributes make them ideal for manufacturing tools.
Beryllium is a colorless metal that can form covalent compounds with other elements. In addition to its metal-to-carbon ratio, this element can also bond with carbon directly, making it useful for many applications. Some of the most common beryllium alloys are alkyl and aryl compounds. Beryllium is also used in electrical contacts and springs. It can pass through X-ray detectors, making it a valuable component in the aerospace and defence industries. It can also be used in optical fibers and other electronic devices, including gyroscopes. Its alloys with copper and nickel are also used in the production of electrical contacts and gyroscopes.
The high demand for beryllium-containing alloys from end industries is expected to spur market growth. The aerospace and defense industry is a major driver of the beryllium market growth. This material is used to make aircraft and missiles more maneuverable and improve targeting capabilities. It is also used in electronic products, including high-definition television and cable. Beryllium alloys are used in these products for their superior thermal conductivity and electrical insulation. These alloys offer superior properties such as low density, high thermal conductivity, dimensional stability at varying temperatures, and corrosion resistance.
However, the high cost of high-purity beryllium is likely to limit its growth in the near future.
Key features of the study: