Market Size of Yttrium Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Yttrium Market Analysis
The Yttrium market is projected to register a CAGR of more than 4% during the forecast period.
- COVID-19 negatively impacted the market in 2020. However, the market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
- Increasing demand from the ceramics industry and electronic devices industry is expected to drive market growth during the forecast period. On the other hand, the substitution of the product by scandium in specific applications is expected to hinder the market's growth.
- Increasing applications in the defense sector are likely to act as an opportunity. Asia-Pacific dominates the global market with the largest consumption in a country such as India, China, etc.
