Growth Trajectory Intact: Europium Market to Surge, Targeting USD 418.5 Million by 2034
The global europium market size is estimated to reach USD 246.6 million in 2024 and grow at a CAGR of 5.4% from 2024 to 2034. Global sales of this rare metal are projected to reach USD 418.5 million by 2034. Increased demand is driven by the transition from traditional lighting to solid-state lighting systems in displays.
Asia Pacific is anticipated to remain the primary consumer of this rare metal, fueled by its robust manufacturing base and rising demand for electronics and green technologies. India is expected to lead the industry with a predicted CAGR of 8.1% through 2034, while China closely follows with an estimated CAGR of 6.1% until 2034.
Phosphors continue to be the leading application in the industry due to their use in color displays for monitors, mobile devices, and televisions. In 2024, phosphors accounted for a value share of 24.4%. Lighting dominated the industry based on end-use, holding a market share of 26.3% in 2024.
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