Market Size of Mercury Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 4.40 Billion |
| Market Size (2029) | USD 4.68 Billion |
| CAGR (2024 - 2029) | 1.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mercury Market Analysis
The Mercury Market size is estimated at USD 4.40 billion in 2024, and is expected to reach USD 4.68 billion by 2029, growing at a CAGR of greater than 1% during the forecast period (2024-2029).
The COVID pandemic had a mixed impact on the mercury market. On the one hand, the decline in economic activity led to a decrease in demand for mercury in some industries, such as the manufacturing and construction sectors. On the other hand, the pandemic also led to an increase in demand for mercury testing services, as governments and businesses sought to ensure that their products and environments were free of mercury contamination. Overall, the impact of COVID-19 on the mercury market is expected to be relatively modest.
The major factor driving the market studied is the demand for measuring and controlling devices.
The hazardous properties of mercury are likely to act as a restraint to the growth of the market. Owing to its hazardous nature, many countries have banned mercury-containing batteries, thermometers, barometers, and blood pressure monitors, thus affecting the market studied.
The mercury market is experiencing growth due to increasing demand in specific niche applications, such as catalysts in chemical processes and certain medical devices, where alternatives are not yet available.
Asia-Pacific is expected to dominate the global market, with the majority of the demand coming from China and Tajikistan.
Mercury Industry Segmentation
Mercury's density and compactness enable it to be used for medicinal purposes. Mercury's characteristic properties allow the extraction of gold from ore in artisanal and small-scale gold mining. Mercury is used in batteries, biocides in the paper industry, paints, and seed grain, as antiseptics in pharmaceuticals, as reagents in laboratories, and as catalysts. The Mercury Market is segmented into product type, application, and geography.
By product type, the market is segmented into Metal, Alloy, and Compounds. By application, the market is segmented into Batteries, Dental Applications, Measuring and Controlling Devices, Lamps, Electrical and Electronics Devices, Processing of Gold, and Other Applications. The report also covers the market size and forecasts for the Mercury Market in 27 countries. For each segment, the market sizing and forecasts were made on the basis of revenue (USD).
| Product Type | |
| Metal | |
| Alloy | |
| Compounds |
| Application | |
| Batteries | |
| Dental Applications | |
| Measuring and Controlling Devices | |
| Lamps | |
| Electrical and Electronics Devices | |
| Processing of Gold | |
| Other Applications (Healthcare, Pharmaceuticals, and Batteries) |
| Geography | |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
| Middle-East and Africa | |||||||||||
| Saudi Arabia | |||||||||||
| South Africa | |||||||||||
| Nigeria | |||||||||||
| Qatar | |||||||||||
| Egypt | |||||||||||
| UAE | |||||||||||
| Rest of Middle-East and Africa |
Mercury Market Size Summary
The mercury market is poised for moderate growth over the forecast period, driven primarily by the demand for measuring and controlling devices. Despite the hazardous nature of mercury, which has led to bans on its use in certain products like batteries and thermometers, it continues to find applications in niche areas such as chemical catalysts and specific medical devices where alternatives are not yet viable. The market's growth is also influenced by the increasing need for mercury testing services, a demand that surged during the COVID-19 pandemic as businesses and governments sought to ensure safety from contamination. However, environmental concerns and regulatory measures, particularly in Europe, pose challenges to market expansion.
The Asia-Pacific region, with China and Tajikistan at the forefront, dominates the global mercury market due to significant production and reserves. Mercury's use in various devices, including sphygmomanometers for blood pressure measurement, underscores its ongoing relevance despite health and environmental concerns. The Artisanal and Small-Scale Gold Mining sector remains a major source of mercury emissions, highlighting the complex interplay between economic activity and environmental impact. The market is characterized by a fragmented landscape with key players like Avantor Inc., Merck KGaA, and others, navigating regulatory changes and environmental initiatives aimed at reducing mercury's harmful effects.
Mercury Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 Demand from Measuring and Controlling Devices
-
1.1.2 Demand for Sphygmomanometer for the Measurement of Blood Pressure
-
1.1.3 Widely Used in the Mining Sector for the Extraction of Gold
-
-
1.2 Restraints
-
1.2.1 Hazardous Properties of Mercury
-
1.2.2 Other Restraints
-
-
1.3 Industry Value Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION (Market Size in Value)
-
2.1 Product Type
-
2.1.1 Metal
-
2.1.2 Alloy
-
2.1.3 Compounds
-
-
2.2 Application
-
2.2.1 Batteries
-
2.2.2 Dental Applications
-
2.2.3 Measuring and Controlling Devices
-
2.2.4 Lamps
-
2.2.5 Electrical and Electronics Devices
-
2.2.6 Processing of Gold
-
2.2.7 Other Applications (Healthcare, Pharmaceuticals, and Batteries)
-
-
2.3 Geography
-
2.3.1 Asia-Pacific
-
2.3.1.1 China
-
2.3.1.2 India
-
2.3.1.3 Japan
-
2.3.1.4 South Korea
-
2.3.1.5 Malaysia
-
2.3.1.6 Thailand
-
2.3.1.7 Indonesia
-
2.3.1.8 Vietnam
-
2.3.1.9 Rest of Asia-Pacific
-
-
2.3.2 North America
-
2.3.2.1 United States
-
2.3.2.2 Canada
-
2.3.2.3 Mexico
-
-
2.3.3 Europe
-
2.3.3.1 Germany
-
2.3.3.2 United Kingdom
-
2.3.3.3 France
-
2.3.3.4 Italy
-
2.3.3.5 Spain
-
2.3.3.6 NORDIC
-
2.3.3.7 Turkey
-
2.3.3.8 Russia
-
2.3.3.9 Rest of Europe
-
-
2.3.4 South America
-
2.3.4.1 Brazil
-
2.3.4.2 Argentina
-
2.3.4.3 Colombia
-
2.3.4.4 Rest of South America
-
-
2.3.5 Middle-East and Africa
-
2.3.6 Saudi Arabia
-
2.3.7 South Africa
-
2.3.8 Nigeria
-
2.3.9 Qatar
-
2.3.10 Egypt
-
2.3.11 UAE
-
2.3.12 Rest of Middle-East and Africa
-
-
Mercury Market Size FAQs
How big is the Mercury Market?
The Mercury Market size is expected to reach USD 4.40 billion in 2024 and grow at a CAGR of greater than 1% to reach USD 4.68 billion by 2029.
What is the current Mercury Market size?
In 2024, the Mercury Market size is expected to reach USD 4.40 billion.
