In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Beryllium hydroxide is an amphoteric hydroxide with chemical formula Be(OH)2. It is a chemical compound which is used either as a base or an acid during chemical reactions. Amphoteric behavior is wholly dependent upon the oxidation state of the oxide. Beryllium hydroxide is a bright white, impervious crystal that is slightly soluble in water; identically known as beryllium dihydroxide.
Beryllium is commonly used as an alloying agent in the production of beryllium copper, which is broadly used for electrical contacts, spot-welding electrodes, springs etc. Beryllium is also used as a structural material in high-speed aircraft, communication satellites missiles and spacecraft. Some of the other applications of beryllium comprises of support beams, windshield frame, brake discs etc.
The global beryllium hydroxide market is expected to showcase a significant CAGR during the forecasted period 2018-2027. The market is thriving on increasing automotive sales; growing telecommunications network and need for highly secure defense systems.
The global beryllium hydroxide market is segmented on the basis of type, application, end users and geography. In terms of regional platform, demand for beryllium hydroxide in the North America region is projected to propel the growth of overall global beryllium hydroxide market over the forecast period. Factors such as, per capita spending of consumers in North America region for automobile and electrical products are high, which is expected to boost the market growth. Europe is anticipated to contribute a significant CAGR during the forecasted period. Additionally, Asia Pacific beryllium hydroxide market captured significant share of global beryllium hydroxide market in previous years. Increasing rising disposable income and growing use of exchanger tubes & microwave devices are some of the key factors which are driving the growth of beryllium hydroxide market in Asia Pacific region.
Our in-depth analysis segmented the global Beryllium Hydroxide market in the following segments:
Global beryllium hydroxide market is further classified on the basis of region as follows:
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Rising demand for electrical and electronics goods coupled with increasing usage of beryllium lead and alloys is expected to result in a steady growth in beryllium hydroxide market. The rising demand for automobile vehicle across the globe is one of the main drivers for the global beryllium hydroxide market. The growing economies such as India, China, Middle East countries along with consumer preferences of the growing population are the key characterizes areas for the fast growth of automotive industries.
Rapid urbanization along with positive GDP figures of developed and developing nations such as U.S., China and others are projected to flourish the growth of beryllium hydroxide market in automotive products. In addition to this, mounting use of lightweight materials in the aerospace industry is expected to fuel the growth of beryllium hydroxide market.
In contrast, strict government regulations and compliance across the regions and countries, is expected to dampen the growth of beryllium hydroxide market. Production of chemicals, mining and extraction techniques associated with costs are some probable factors restraining the growth of the beryllium hydroxide market.