Rubidium Market Overview
Rubidium market was volume 2.95 kilotons in 2023. The Global Rubidium Market is estimated to grow at a CAGR of 4.01% and expected to reach volume 3.88 kilotons over the forecast period.
Rubidium is a silver-white soft metal that belongs to the alkali metal family. It has the atomic number 37 and is symbolised by the symbol Rb. Pure Rubidium, like the other alkali metals (Lithium, Sodium, Potassium, and Caesium), is highly reactive and would combust if exposed to water or oxygen. It has a melting point of 39 degrees Celsius. As a result, it’s most commonly found in rubidium oxide or rubidium carbonate.
Rubidium Market Report Scope and Research Methodology
The rise of biomedical research applications is the key driver driving the rubidium market. Other rubidium-based goods include photovoltaic cells, atomic resonance-frequency-reference oscillators, and fireworks, which all contribute to the market’s growth. However, the rubidium market’s growth is hampered by high costs and storage-related safety concerns. COVID-19 had a detrimental impact on the rubidium market in 2020. The pandemic had a negative impact on biomedical research, slowing new biopharmaceutical technology breakthroughs. The closure of many laboratories, restricted or lost access to facilities and equipment, cancellation of scientific and technical conferences, supply chain disruptions, problems acquiring new equipment, and delayed or uncertain graduation schedules and career prospects for trainees and early career scientists all resulted in significant delays and losses, which harmed rubidium because it is used in the biomedical field. The expansion of biomedical research applications is the primary driver driving the market’s growth. On the other hand, the COVID-19 pandemic is predicted to have a significant influence on the market under consideration. Rubidium is most commonly used in specialised glasses. It’s used to make rubidium carbonate, which has a variety of qualities such as electrical conductivity. Due to the large-scale manufacturing in the region, North America is likely to be the main market for rubidium.
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Rubidium Market Regional Insights
The Rubidium Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America on the basis of region.
In the United States, rubidium was mostly collected from salt lake brine, with Cabot being the leading business. Furthermore, Canada ranks first in the world for rubidium ore and rubidium salt production. The Bernie Lake mining area in Lake Manitoba, Canada, provides the raw materials used to make rubidium salt in the US and other nations. This area’s ore is exported to a number of countries.
Rubidium Market Segmentation
By Grade Segment, The Rubidium Market is segmented into Technical grade metal and High-purity grade on the basis of grade segment.
During the forecast period, the technical grade metal segment is expected to account for the majority of the market. This can be attributed to an increase in demand for technical grade metal, which is used in photocells, vacuum tubes to eliminate traces of oxygen, and particular types of glass. It’s also employed in vacuum tubes as a getter, a substance that mixes with and eliminates trace gases.
Rubidium Market Key Players
American Elements (US)
LANHIT (Russia)
Ganfeng Lithium Co. Ltd. (China)
International Lithium Corp. (Canada)
Lepidico (Australia)
Merck KGaA (Germany)
Otto Chemie Pvt. Ltd. (India)
Thermo Fisher Scientific Inc. (US)
AccuBeat Ltd. (Israel)
Excelitas Technologies Corp. (Canada)
Lithium Australia (Australia)
Inorganic Ventures (US)
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Key questions answered in the Rubidium Market are:
- What is Rubidium?
- What was the Rubidium market size in 2023?
- What is the growth rate of the Rubidium Market?
- Which are the factors expected to drive the Rubidium market growth?
- What are the different segments of the Rubidium Market?
- What growth strategies are the players considering to increase their presence in Rubidium?
- What are the upcoming industry applications and trends for the Rubidium Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Rubidium Market?
- What segments are covered in the Rubidium Market?
- Who are the leading companies and what are their portfolios in Rubidium Market?
- What segments are covered in the Rubidium Market?
- Who are the key players in the Rubidium market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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