In a recent published report, Kenneth Research has updated the market report for Mercury Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mercury Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
The Mercury Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.
Product Overview
Mercury is a metal with an atomic number of 80 and is represented by the symbol Hg in the modern periodic table. The actual name of mercury, according to modern periodic table is “hydragyrum” and it is commonly known as quicksilver. The unique property of mercury, such that it remains liquid in room temperature and pressure makes it different from other metals. Mercury is silver-white in color with poor heat conductivity. It is also a heavy metal. Mercury is commonly extracted from various mineral sources the most common type is cinnabar. Cinnabar is a red color rock containing mercury sulfide (HgS). The extraction of mercury involves heating and converting the mercury into vapors, then again converting the vapors into solid mercury.
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Market Size and Forecast
Mercury is used for several medical equipment’s such as barometers, thermometers and electric equipment among others. In these products, mercury is generally trapped in a casing or bottle. The exposure to mercury can lead to several health hazards including kidney damage, nerve damage and skin irritation among others. The surplus release of mercury in the environment can pose serious environmental threats. The CAGR of global mercury market is expected to be around 1.2% during the year 2017-2027.
The global mercury market is segmented on the basis of application type. Moreover, On the basis of application type health and pharmaceuticals expected to lead the market. The main uses of mercury are in dentistry, sphygmomanometers and thermometers. Though modern day’s hospitals are issuing guidelines to reduce the use of mercury as several health hazards can be caused once mercury is released in the environment. On the other hand, Electrical and lighting segment also witnessing an increase in demand of mercury on the account of use mercury in switches as it has the very low melting point(-38.83â—¦C) a very high boiling point(356.7â—¦C).
By region, global mercury market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia Pacific leads the global mercury market and the trend is anticipated to continue during the forecasted period. The application segment is witnessing high investment and increasing development in countries such as China and India. Moreover, in North America and Europe the intervention from government bodies to reduce the use of mercury is the main reason for the sluggish growth of global mercury market in the respective region. This has hampered the demand of mercury in the region.
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Market Segmentation
Our in-depth analysis segmented the Global mercury market in the following segments:
By application
Chemical manufacturing
Artisanal gold mining
Batteries
Measurement and Control Devices
Electrical and lighting
Healthcare and Pharmaceuticals
By Regional
Global mercury Market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
Growth Drivers and Challenges
The density and compactness enable mercury to be used for medicinal purpose. The high melting point and low boiling point enable mercury to be used in electrical appliance nowadays. It also enables mercury to measure high temperature. The distinctive properties of mercury enables the extraction of gold from ore in artisanal and in small scale gold mining.
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Various distinct challenges are associated with mercury. The Minamata disease caused by mercury in Japan forced the international organizations to pose the restriction on the use of mercury. The various health hazards and environmental effects are reducing the use of mercury.
Key Players
Avantor Performance Materials
Globe Chemicals
Mayasa
Sigma Aldrich
Aldrett Hermanos
Bethlehem Apparatus
China Jin Run Industrial
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