Dysprosium (Dy) is a rare earth element with atomic number 66 and having a bright silvery-metallic appearance with low toxicity and it is too soft to cut with knife. The element is never found free but like other lanthanides, Dysprosium is found in Monazite and Bastnaesite deposits, but lesser quantities can also be found in minerals like Xenotime and Fergusonite. Dysprosium consists of seven isotopes among which 164Dy is the most abundant and naturally occurring element obtained from ion-adsorption clay ores of southern China. It is more expensive than light rare earths as cerium and lanthanum. Dysprosium along with holmium has the highest magnetic strength and is widely used in neodymium-based magnets, which could function at higher temperatures.
Dysprosium is used to manufacture laser materials, study chemical reactions, has a use in commercial lightning. It is also used in nuclear reactors as neutron absorbing rods and they find their application in hard disks, wind turbine, electric motors, MRI scanners and Optical industries.
This report provides information on Dysprosium market size for the year 2014-2016, and forecast of the same for year 2021. It also focuses on market drivers, challenges, restraints, market dynamics, growth indicators, competitive landscape, potential growth opportunities and other key aspects with respect to Dysprosium market.
The key drivers for the success of Dysprosium market are its use in automobile sector for manufacturing of batteries, in neodymium-iron-boron high permanent magnets also require dysprosium for their manufacture, and these magnets are injected into joints for treatment of rheumatoid arthritis. Thus, huge demand for dysprosium exists in the market. Asia Pacific besides being dominant producer of rare earth elements is the greatest consumer of dysprosium also.
It is estimated that the global demand of Dysprosium was around 1,350 tonnes per year and is expected to increase around 9% year over year. The countries of Asia Pacific are the major producers of the element, dominated by China forming more than 90% of the total supply globally. Other countries involved in the production of the element are USA, Russia, Australia and others. The market is dominated by few major players, which indeed has become a major challenge for the new entrants. The market is increasing due to multiple applications.
In this research report global Dysprosium market is segmented based on applications and geography as follows:
- Based on applications Dysprosium market report can be broadly segmented into many categories such as laser materials, commercial lightning, nuclear reactors and others
- This report is further segmented based on regional potential markets for Dysprosium. A detailed analysis by region – North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW), has been provided in this report
Sample Companies profiled in this report are:
- Lynas Corp.
- Arafura Resources Ltd
- Avalon Advanced Materials Inc.
- Greenland Minerals and Energy Ltd.
- Tasman Metals Ltd.