Steady Growth to be Witnessed by Cesium Market by 2018-2028

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Cesium is a silvery-gold metal element with an atomic number of 50 and atomic weight of 132.91. It is an inorganic compound know as homogeneous alkali metal compounds. It is naturally found in combination with other elements such as rocks, soils, and dust. The naturally found cesium is not radioactive and is known as stable cesium. It is the only stable form of cesium denoted by 133 Cs (cesium one-thirty-three). The other two types of cesium, 134 Cs and 137 Cs, are radioactive. They generate beta particles while decaying. 134 Cs has halftime of two years and 137 Cs has halftime of 30 years. These radioactive isotopes of cesium are produced during the breakdown of nuclear exposition or break down of uranium in fuel elements.

Cesium minerals are used as a feedstock to manufacture a wide range of cesium metals and compounds such as cesium formate brines, cesium nitrate, and cesium chloride.  The cesium formate brine has applications in oil & gas production and the exploration industry during the high temperature drilling process. Cesium nitrate is used as a coolant and oxidizer in industries such as pyrotechnic. Cesium chloride is used as a chemical reagent in analytical chemistry reagent. Other cesium compounds include cesium carbonate, cesium hydroxide, and cesium bromide. Rise in demand for cesium compounds to treat cancer is anticipated the drive the market during the forecast period. Substitutes of cesium such as rubidium have similar atomic radius and physical properties to cesium. Furthermore, cesium compounds are costly and have high reactivity. This can hinder the global cesium market.

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Global Cesium Market: Segmentation

The global cesium market can be segmented based on grade, derivative, end use industry and region.  In terms of grade, the market can be divided into technical, pharmaceutical, and optical. Growing demand for cesium in the pharmaceutical industry is projected to fuel the requirement for pharmaceutical grade cesium compounds owing to an increase in research & development activities for the use of cesium in medical applications.

Based on derivative, the cesium market can be segregated into cesium bromide, cesium carbonate, cesium chloride, cesium formate, and others, which includes cesium nitrate and cesium iodide. Cesium chloride is a key segment of the global market. Cesium chloride has applications in the medical and health care industry and is used for the treatment of cancer, medical imaging, and positron emission tomography. Rise in the number of cancer patients across the globe and increase in per capita income are projected to fuel the demand of cesium bromide.

In terms of end-use industry, the global market can be categorized into medical & health care, oil & gas, and others, which includes chemical reagent. The oil & gas end-use industry is anticipated to account for a significant share of the global cesium market due to better performance properties of cesium compounds as compared to the substitutes.

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Global Cesium Market: Regional Outlook

Based on region, the global cesium market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a large share in the global market, as large number of end-use industries operate in the region. Economic development of emerging economies such as China, India, and Indonesia has improved the per capita income due to development activities in private and public sectors of the region Additionally, increasing number of cancer patients can afford advanced cancer treatments due to the increase in awareness about health insurance industry  along with relative  government support . This, in turn, is anticipated to fuel the cesium market in Asia Pacific during the forecast period.