Posted in | News | Rare Earth Elements | Mining Business

Global Selenium Market Expected to Grow at CAGR of 1.96% During 2017-2021

Reviewed

Dec 6 2017

The "Global Selenium Market 2017-2021" report has been added to Research and Markets' offering.

The global selenium market is expected to grow at a CAGR of 1.96% during the period 2017-2021.

The report, Global Selenium Market 2017-2021 , has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is the increasing use of selenium in electronic products. Selenium is a naturally occurring element in the Earth's crust. However, it is rarely available in its elemental form but is rather found as a compound with other elements. It is a semiconductor material and is used in various electronic components such as circuit boards and photosensitive drums in photocopiers. The photosensitive drum in photocopiers is the heart of the system. It is a metal roller covered by a layer of photoconductive material, which is made of a semiconductor such as selenium. Thus, the use of selenium in electronics and photocopiers will drive the growth of the global selenium market during the forecast period.

One of the major drivers for this market is Germany and Japan play a major role in selenium market. The major producers of selenium such as Mitsubishi Materials Corporation and SUMITOMO METAL MINING are based in Japan. Japan and Germany account for more than 64% of the global selenium production in 2016. Approximately 50% of the selenium produced in Japan was exported to China in 2016. In China, imported selenium is primarily used in ceramic tiles. The domestic demand for selenium in Japan is driven by the growing glass industry in the country.

Key vendors