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Osmium is a chemical element represented by the symbol Os and has seven naturally occurring isotopes. It belongs to the platinum group and is obtained when platinum is extracted from ores such as osmiridium and iridosmine. Osmium is found in alloys of iridium and in traces of metals such as nickel and copper, and is highly volatile and water soluble in nature. It is a hard and brittle metal that remains lustrous even at high temperatures. The high toxic and volatile properties of osmium restrains its use in pure form for high-wear applications. Although manmade osmium also comes from chromium smelters, hospital incinerators, and the normal operation of cars i.e. from catalytic convertors, it is primarily the industrial extraction and refining of platinum that produces bulk of osmium.

Osmium concentrates are manufactured as a by-product of copper and nickel mining or while isolating platinum metal from its ores. Distillation or organic solvent extraction of these ores yield volatile osmium tetroxide (OsO4), which is collected and precipitated using potassium hydroxide. The resultant salt is reduced and roasted to yield a fine power of osmium.

Osmium offers a wide variety of medical applications. For instance, an alloy of 90% platinum and 10% osmium is used in surgical implants such as pacemakers and replacement heart valves due to its inertness. Furthermore, osmium tetroxide aids in fingerprint detection and staining fatty tissues using electron and optical microscopy. Different compounds combined with osmium like Organo-Osmium FY26, could aid in treating cancerous cells. Furthermore, these osmium compounds are not cross-resistant with platinum. Osmium Mettalicum 30 is a medicine that aids in treatment of glaucoma and high blood pressure. Therefore, use of osmium in the healthcare sector for various applications is a major factor expected to propel the global osmium market growth.

Filaments of osmium metal are also used as a catalyst. Furthermore, its high refractivity is desirable in space-based UV spectrometers, which have reduced mirror sizes due to space limitations.

Market Dynamics

  • A major factor that drives growth of the global osmium market is its remarkable properties such as stability and hardness. These properties help in manufacturing high quality ballpoint and fountain pens, electrical contacts, jewelry such as rings, record player needles, long life gramophone needles, compass needles, instrument pivots, and other devices prone to frequent wear and tear. Usage of osmium helps to improve the overall quality by making the end product such as nibs, needles hard, stable, and corrosion resistant. Such wide variety of applications of osmium is expected to aid in growth of the global osmium market.
  • However, osmium is a rare and expensive element, which is a major factor restraining the global osmium market growth. Pure osmium generally costs between US$ 12,000 and US$ 14,000 per kilogram. Moreover, osmium-187 is a more expensive and useful isotope, which costs between US$ 15,0000 and US$ 25,0000.
  • Furthermore, availability of substitue products such as tugsten, which is used in light bulb filaments, could negatovely affect growth of the global osmium market.

Market Outlook

  • According to the Coherent Market Insights’ analysis, North America held the dominant position in the market in 2017. According to the United States Geological Survey, U.S. imported 322 Kilograms of Osmium in 2014. In North America region, the U.S. and Canada are projected to maintain its dominance throughout the forecast period.
  • The largest known primary reserves of osmium include the Bushveld igneous complex in South Africa. However, the copper-nickel deposits near Norilsk in Russia and the Canada-based Sudbury basin are also important osmium sources.

 Key Players in the Global Osmium Market

  • Key players operating in the global osmium market include Ceimig Limited, American Elements, Reade International Corp, Cleantech, and others.

Market Taxonomy

On the basis of grade, the global osmium market is segmented into:

  • Analytical Grade
  • Technical Grade

On the basis of form, the global osmium market is segmented into:

  • Rods
  • Pellets
  • Granules

On the basis of application, the global osmium market is segmented into:

  • Instrumental Pivots
  • Electrical Contacts
  • Fountain Pen Nibs
  • Others

On the basis of region the global osmium market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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