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 |
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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.
