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Health Insurance Is Fastest Growing Segment Fueling The Growth Of Global Beryllium Market

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Sushil Mahalle's Articles
Health Insurance Is Fastest Growing Segment Fueling The Growth Of Global Beryllium Market

Market Overview:

Beryllium is a hard grey metal known for its high strength, lightweight, and stiffness properties. These characteristics make it ideally suited for aerospace and defense applications.

Market key trends:

One of the key trends driving the beryllium market growth is increasing demand from the aerospace sector. The aerospace industry is one of the largest end-use sectors for beryllium due to its excellent properties of light weight and high strength. Beryllium alloys are used to manufacture aircraft brakes, structural components, and precision instruments. The growing commercial aircraft fleet and rising aircraft deliveries are fueling the demand for beryllium in this industry.

The global Beryllium Market Demand is estimated to be valued at US$ 419.24 Mn in 2023 and is expected to exhibit a CAGR of 2.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

The global beryllium market is segmented into beryllium metal, beryllium alloys, beryllium oxide, and beryllium hydroxide. The beryllium metal segment dominates the market and accounted for over 30% of the overall revenue in 2023 due to wide applications in aerospace and defense sectors. Beryllium metal has high stiffness, excellent thermal conductivity, stability at elevated temperatures, corrosion resistance, and X-ray transparency properties that make it suitable for various applications.

Key Takeaways

The global beryllium market is expected to witness high growth, exhibiting CAGR of 2.1% over the forecast period, due to increasing demand from aerospace and defense industries.

The market size for beryllium was valued at US$ 419.24 Mn in 2023. North America dominated the global market with over 40% revenue share owing to high presence of aerospace and defense companies in the region.

Key players operating in the beryllium market are American Beryllia Inc., American Elements, Belmont Metals, Hunan Shuikoushan Nonferrous Metals Group Co. Ltd, IBC Advanced Alloys, Materion Corporation, NGK Metals Corporation, and The Atomic Company Kazatomprom. Materion Corporation accounted for over 15% revenue share in global market in 2023.


Read More: https://www.ukwebwire.com/the-growth-of-global-beryllium-market-size-and-share-analysis/

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