The Selenium Global Market Report 2023 by The Business Research Company, provides selenium market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Selenium Global Market Report 2023, the market size is expected to grow from$0.4 billion in 2022 to $0.43 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The selenium market size is expected to grow from $0.63 billion in 2027 at a CAGR of 9.7%.
The growth in the selenium market is due to the increasing demand for mining in Eastern Europe. Mining refers to the process of extracting useful materials from the earth. Selenium is used in the production of container glass and other soda-lime-silica glass to decolourize the green tint caused by iron impurities.
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The selenium market is segmented:
1) By Type: Inorganic Selenium, and Organic Selenium
2) By Mining Type: Underground Mining, Surface Mining
3) By Equipment: Excavator, Robotic Truck, Driller and Breaker, Load Haul Dump, Other Equipments
4) By Component: Hardware, Software, Services
Companies engaged in the selenium industry are using Internet of Things technology which gives miners greater insights into the working condition of their equipment.
The selenium market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Selenium Market Characteristics
4. Selenium Market Product Analysis
5. Selenium Market Supply Chain
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26. Selenium Market Competitive Landscape
27. Key Mergers And Acquisitions In The Selenium Market
28. Market Background: General Mineral Mining Market
29. Recommendations
30. Appendix
Top Major Players:
- American Elements
- Hindalco Industries
- Mitsubishi Materials Corporation
- SUMITOMO METAL MINING
- Umicore
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