Rubidium is a highly reactive alkali metal characterized by its soft, silvery-white appearance. It is primarily sourced from lithium production or mined from mineral deposits. It has distinct chemical and physical properties, including low melting points and excellent conductivity. It is used in photoelectric cells, night-vision goggles, and photomultiplier tubes due to its photo-emissive properties. It finds numerous applications in the manufacturing of special glasses and ceramics, fireworks, and biomedical research. It is also employed as an electrode coating in thermionic power converters to transform heat energy into electrical energy by facilitating the movement of electrons across a vacuum gap. Besides this, it is widely used in telecommunications and global positioning systems (GPS) for precise timekeeping.
The global rubidium market size 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.
Rapid technological advancements in electronics and telecommunications are resulting in a higher demand for rubidium-based products. Moreover, the expanding use of rubidium isotopes in the biomedical research field for various medical tests and treatments is contributing to market growth. Apart from this, the increasing usage of rubidium in the glass and ceramics industry due to its ability to modify properties like electrical conductivity and refractive index is offering a favorable market outlook. Furthermore, the rise of renewable energy solutions is driving the demand for rubidium in thermoelectric generators.
The report has segmented the market into the following categories:
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Who Are the Key Players Operating In The Industry?
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.
