Europium is a rare earth metal which oxidizes readily in presence of air and water. It is generally present in oxide form and has applications in automobiles, catalysts, consumer electronics, flat panel displays, metallurgy and fluorescent lamps and as a dopant of glass in lasers and optoelectronic devices.
Growing demand from flat panel displays and LEDs in Asia Pacific market is expected to drive the market. The shift from traditional lighting to solid state lighting systems in displays is expected to fuel the market for flat panel displays and LEDs. Increasing civil infrastructure is the main factor behind growing demand for LEDs owing to its use in street lighting and highway lighting. However, the supply issues and lack of refining, alloying and fabricating technologies for europium are expected to hamper the growth of this market. Technological advances in the field of earth metal nano-crystals are expected to provide immense opportunities for the players in this market. Europium nano-crystals are being use in the LEDs as a phosphor which emits wide range of spectrum.
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Asia Pacific region was the largest consumer of europium and its derivative products. China contributes highest for the consumption of this metal owing to increasing population, improving living standard and disposable income. Growing demand from Japan, Korea and China for consumer electronics is fueling the market in this region. China is the largest manufacturer of europium and its derivatives. However, export restrictions and increasing local demand has been causing supply issues. Asia Pacific is followed by North America owing to demand from LEDs and consumer electronics industries. Decreased exports from China causing development of new exploration and production sites in this region to fulfill the demand.
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