Market Trends of Rubidium Industry
This section covers the major market trends shaping the Rubidium Market according to our research experts:
Specialty Glass to Dominate the Market
- Speciality glasses, which constitute the leading market for Rubidium, are used in fibre optics telecommunications systems and night-vision devices. The carbonate (Rb2CO3) is used as an additive to these types of glass, reducing electrical conductivity and improving stability and durability.
- Rubidium carbonate is used to reduce electrical conductivity, which improves stability and durability in fibre optic telecommunications networks.
- According to the European Information Technology Observatory (EITO), telecommunications services generated revenue of around EUR 48.8 billion (USD 51.99 billion) in 2022, compared to EUR 48.4 billion (USD 51.57 billion) in 2021.
- According to The International Telecommunication Union (ITU), mobile subscribers will have exceeded 8.6 billion by 2021, compared to 8.3 billion in 2020.
- A rubidium-tellurium photoemissive surface is used in photoelectric cells and incorporated into various electronic detection and activation devices. It is sensitive to a broad spectrum of radiation from the mid-ultraviolet through the visible into the near-infrared.
- Rubidium carbonate is also applied in glass lenses and built-in night vision devices. Rubidium is used as a getter in vacuum tubes and as a photocell component. It is used in making special glasses.
- All the factors above are expected to drive specialty glass, enhancing the demand for Rubidium during the forecast period.
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North America Accounted for the Largest Share
- North America holds a significant share of the rubidium market in terms of market share and revenue. The region will continue to flourish in its dominance over the forecast period.
- Rubidium was mainly extracted from salt lake brine in the United States, with Cabot as the leading company. Moreover, Canadian rubidium ore and rubidium salt production are in the world's top five.
- The Bernie Lake mining area in Lake Manitoba, Canada, supplies the raw materials to produce rubidium salt in the United States and other countries. The ore mined in this area is exported to several countries.
- The United States was one of the first countries to produce and use rubidium. In the United States, rubidium is mainly employed in the high-tech industry, with 80% used in creating high-tech and 20% used in traditional fields, such as electronic devices, special glass, and catalysts.
- However, data on consumption, export, and import are not available. According to industry data from the last decade, domestic consumption is around 2,000 kg per year. The United States entirely relied on imported rubidium materials used in different applications, such as electronics, healthcare, specialty glasses, etc.
- The US electronics market is the largest in the world in terms of size. Moreover, it is one of the leading potential zones for the market studied. Furthermore, it is expected to remain the top market over the forecast period due to the usage of advanced technology, increased number of R&D centers, and rising consumer demand.
- There is a significant demand for newer and faster electronic products due to the rapid pace of innovation, technology advancement, and R&D activities in the electronics industry.
- According to the Consumer Technology Association, the retail revenue of the consumer electronics (CE) market in the United States expanded steadily. Consumer electronics retail sales in the United States reached USD 505 billion in 2022. Smartphones were the goods with the highest retail revenue in the consumer electronics category, with USD 74.7 billion in 2022. Video streaming services came in second, followed by gaming software and services.
- Medical device companies in the United States are highly regarded globally for their innovative and high-technology products. The medical device industry relies on several sectors where the United States holds a competitive advantage, including microelectronics, telecommunications, instrumentation, and biotechnology.
- Thus, all the above factors will likely increase the rubidium market demand during the forecast period.
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