The global rubidium market reached a volume of 2.7 Kilo Tons in 2022. Looking forward, IMARC Group expects the market to reach 3.3 Kilo Tons by 2028, exhibiting a growth rate (CAGR) of 3.60% during 2023-2028.
Rubidium (Rb) is a soft, silvery-white, and highly reactive lithophile metallic element of the alkali group. It is the second most electropositive element that reacts violently with ice and water and sets fire to the liberated hydrogen. It oxidizes when reacting with oxygen and quickly ignites when exposed to air due to humidity. It is used as an ion engine for space vehicles and in vacuum tubes as a getter that helps remove residual gases. It is also utilized as a coating on the electrodes of thermionic power converters to convert heat energy into electrical energy by driving electrons through a vacuum gap. Besides this, Rb finds extensive applications in making specialty glasses that are installed in night-vision devices and fiber optics telecommunications systems for electrical conductivity.
Rubidium Market Trends:
The increasing global population is catalyzing the demand for consumer electronic goods. This represents one of the key factors positively influencing the market. In addition, the rising adoption of Rb in manufacturing electrical-signal generators in motion-sensor devices, night vision devices, solar panels, and photomultiplier tubes, on account of its photo-emissive properties, is supporting the market growth. Apart from this, the growing use of fiber optics telecommunications due to its impressive high-speed connectivity, coupled with rising solar energy consumption in various countries, is driving the demand for specialty glasses. The increasing awareness among individuals about the use of renewable sources of energy to reduce carbon footprints is catalyzing the demand for solar panels across the globe. Additionally, governments of various countries are encouraging individuals to use solar energy, which is contributing to market growth. Moreover, the escalating demand for Rb in biomedical research is expected to propel market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global rubidium market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on production process, grade and application sector.
Breakup by Production Process:
Breakup by Grade:
Technical Grade Metal
Breakup by Application Sector:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being American Elements, ESPI Metals Inc., Ganfeng Lithium Group, Inorganic Ventures Inc., Lanhit, Lepidico, Merck KGaA, Otto Chemie Pvt Ltd and Sinomine Resource Group Co. Ltd. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key questions answered in this report:
How has the global rubidium market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global rubidium market?
What are the key regional markets?
What is the breakup of the market based on the production process?
What is the breakup of the market based on the grade?
What is the breakup of the market based on the application sector?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global rubidium market and who are the key players?
What is the degree of competition in the industry?