Lanthanum Nitrate Market 2022 Key Players, SWOT Analysis, Key Indicators and Forecast to 2029

Lanthanum Nitrate market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Lanthanum Nitrate market.

Lanthanum Nitrate Market: Introduction

Lanthanum Nitrate is a rare earth chemical, having molecular formula – La (NO3)3 · 6H2O, and lanthanum nitrate is found as a white or colorless crystal. Lanthanum nitrate is highly soluble in water. Decomposition of Lanthanum(III) nitrate hexahydrate emits toxic fumes which is highly dangerous. Lanthanum nitrate acts as a strong oxidizer which may lead to fire and is also more toxic to aquatic life with long lasting after-effects.

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Lanthanum nitrate is used as a catalyst for specialty glass and water treatment. Various lanthanum nitrate compounds includes other non-earth elements are components of various catalytic process including processes such as petroleum catalytic cracking, water treatments, etc. Minimal amounts of lanthanum added to steel improves its properties such as malleability, resistance, and ductility. End users such as glass industry use lanthanum nitrate for manufacturing of optical glass. Water treatment plants also find application of lanthanum nitrate owing to ability to bind with phosphates in water which is helpful in clarifying water. Catalytic cracking is one of the most extensively used conversion processes in refineries. Moreover lanthanum nitrate is used in laboratories for lanthanum exchanging in synthesizing Zeolites.

Lanthanum Nitrate Market: Dynamics

Lanthanum Nitrate Market: Driver

The rapidly growing population as well as urbanization is rising concern over the quality of water and general public health. Lanthanum Nitrate is a rare earth element and used extensively as an intermediate in water treatment plants. As a result, the demand for lanthanum nitrate market is upsurge. Further, increasing prevalence of waterborne diseases in recent years help the cause for the development of various water treatment methods across the globe, owing to which lanthanum nitrate market is expected to witness growing demand in the coming years.

Moreover, robust development in infrastructure sector as well as increasing disposable income and improved living standards is expected to drive the infrastructure business over the forecast period. Owing to this, the sales of lanthanum nitrate is increasing for the manufacturing of specialty glass.

Lanthanum Nitrate Market: Restraints

On other hand, lanthanum nitrate is classified as hazardous compound, according to the 2012 OSHA Hazard Communication Standard. This kind of stringent regulations is expected to hamper the market in the coming years. Additionally, the fluctuation in prices of raw materials is expected to be major deciding force for lanthanum nitrate market.

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Lanthanum Nitrate Market: Trends

Lanthanum Nitrate is used for extracting lanthanide ions for solar cells. Spectral conversion for solar cells is an up and coming concept in the photovoltaics field. Lanthanum ions helps to increase the efficiency of a solar cell significantly. Manufacturers are investing into new developments of technology to make it economically feasible and significant solutions. Attributing to this factor, lanthanum nitrate is an ideal option as a source of lanthanide ions for spectral conversion, due to their high luminescence efficiency and rich energy level structures. Thus, increased inclination towards the renewable energy sources is act as key trend for the global lanthanum nitrate market

Market: Key participants

Star Earth Minerals Private Limited, ALPHA CHEMIKA, Henan CoreyChem Co., Ltd., Chemwill Asia Co.,Ltd., Hubei Jusheng Technology Co.,Ltd., China XiangDing Chemical International, Shenyang OTE, China Leadmat Advanced Materials and others.