Global Rubidium Market Ascends Steadily at a CAGR of 4.3%

Introduction

Rubidium-82 is a radioactive isotope utilized in positron emission tomography imaging as a blood-flow tracer. Adults have a positron emission tomographic (PET) scan to help diagnose cardiac disease. Rubidium chloride is used as an antidepressant. Rubidium compounds are employed in biomedical research. The hydrothermal preparation of nanoscale hydroxyapatite particles doped with varying amounts of rubidium is a potential material for biomedical applications. The isotope rubidium-87 is used in magnetic resonance spectroscopy and imaging for analysis.

Anxiolytic agents are antidepressant medications used to alleviate anxiety. According to the Organization for Cooperation and Development (OECD), in 2020, Portugal had the most significant usage of anxiolytic medicines in Europe, with 84.8 specified daily dosages per 100,000 people. This result was followed by Spain, which had 57.9 daily dosages per 100,000 people. The rising use of anxiolytics and antidepressants is expected to drive up demand for rubidium.

Market Dynamics

Applications in Specialty Glass Spur the Global Rubidium Market

The largest market for rubidium is specialty glasses, which are used in fiber optics telecommunications systems and night-vision devices. Due to its photo emissive qualities, rubidium is used in night-vision devices, photoelectric cells, and photomultiplier tubes. Rubidium carbonate is used in the glass lenses of night vision systems.

According to the International Telecommunications Union (ITU), capital expenditures in fiber infrastructure of USD 144.2 billion have been made in 2019 and 2020. 5G radios, 5G wireless, and wired telecommunication systems are among the key drivers of this massive financial investment in fiber infrastructure. The rising acceptance of 4G LTE and LTE-Advanced mobile network technologies hastened fiber telecommunication improvements, significantly boosting specialized glass production. Future 5G networks will take advantage of this, given the excellent bandwidth provided by fiber optic telecommunication technologies.

With the advancement of technology and the practicality of 5G networks worldwide, the use of fiber optics telecommunication systems has increased. The rising global service is due to the scalable, secure, understandable, and cost-effective technology. As a result, the growing use of fiber optic telecommunication systems will likely boost the specialty glasses market, propelling the rubidium market in the following years.

Growing Significance for the Rubidium Atomic Clocks Create New Market Opportunities

Since the Global Navigation Satellite System (GNSS) enables 5G communication networks, the reliance on precise frequency and timing has led to the development of smaller size and high-performance atomic clock technology that has become essential to support both military and commercial applications.

Rubidium atomic clocks are small, light, and affordable to make. They're also employed in various military applications like secure communications, electronic warfare, command and control, telemetry, and navigation. Furthermore, they are used in fine-structure constant variation measurements, relativity tests, accurate spectroscopy, and scientific research. According to researchers and businesspeople, manufacturing such clocks is relatively straightforward and inexpensive.

Microchip's next-generation MAC-SA5X downsized a rubidium atomic clock, which generates a reliable time and frequency reference with high synchronization to a reference clock, such as a GNSS-derived signal. Microchip, the world leader in atomic clock research, development, and manufacture, has delivered over 275,000 rubidium clocks worldwide. As a result of their superior technology and advantages, rubidium atomic clocks are gaining significant market share.

Regional Insights

North America accounts for the largest share and is expected to register the highest CAGR of 5% during the forecast period. In North America, Canada has the most rubidium reserves. According to the January 2020 report of the US Geological Survey, the country had around 12,000 tonnes of rubidium deposits. Furthermore, the electronics industry is one of Canada's largest industrial verticals. There are about 2,000 electronics manufacturing enterprises in the country. As customers in the country value new product developments, the Canadian consumer electronics industry witnessed the growth and seized new chances in the core product category. The country's enhanced network connectivity is fueling this industry's expansion.

Europe is the second-largest region and is estimated to grow at a CAGR of 3.9% during the forecast period. Germany possesses considerable rubidium reserves in Europe. It also has the most significant healthcare market in Europe. The country's yearly health spending is anticipated to be more than EUR 375 billion, excluding fitness and wellbeing. With demographic shifts and digitalization, the government has been investing in mobile healthcare facilities, which provide a platform for the German healthcare sector's ongoing expansion. Growing applications in the healthcare equipment and electronics industries are projected to create opportunities in the future.

Asia-Pacific is the third-largest region. China possesses the most rubidium ore reserves in Asia, primarily used in the electronics and medical industries. A massive rubidium ore deposit was discovered in Guangdong Province, South China, in 2018. The Guangdong Province Mining Association announced finding a 175,000-ton rubidium ore deposit in Heyuan City. Furthermore, China is the world's most significant producer of electronics. The country meets not only domestic needs for electronics but also exports electronic production to other countries and is the world's biggest PCB manufacturer. The trade war between the United States and China and the fear of Chinese enterprises being shut off from US technology are bolstering China's push for the expansion of the country's electronics manufacturing industry, which is driving the demand for rubidium.

Key Highlights

• The global rubidium market size was estimated at 2,570 kilograms in 2021. It is expected to reach 3,755 kilograms by 2030, growing at a CAGR of 4.3% during the forecast period (2022–2030). 

• By production process, the global rubidium market is segmented into Lepidolite, Pollucite, and Others. The Lepidolite segment accounts for the largest market share and is expected to register the highest CAGR of 4.8% during the forecast period.
• By application, the global rubidium market is segmented into Biomedical Research, Electronics, Specialty Glass, Pyrotechnics, and Others. The Biomedical Research segment accounts for the largest market share and is expected to grow at a CAGR of 4.4% during the forecast period. 
• By region, the global rubidium market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America holds dominion in the global market.

Competitive Players

Competitive Landscape

The key players in the global rubidium market are American Elements, Ganfeng Lithium, International Lithium Corp, Lepidico, Jiangxi Special Electric Motor, Lithium Australia, Merck Kgaa, Sinomine Resource Group, and Thermo Fisher Scientific.

Recent Developments

Market News

• In January 2022, the board of directors of International Lithium Corp. (the "Company" or "ILC," TSX Venture: ILC) announced the completion of the sale of its 49% stake in the Mavis Lake lithium project in Ontario to Critical Resources Ltd. (ASX: CRR), in accordance with the announcement made on October 25, 2021, in which CRR purchases 100% of the claims from the company and its partner Essential Metals Ltd. (ASX: ESS).
• In January 2022, Merck announced an investment of more than €3 billion in its Electronics business's innovation and capacity through 2025 to capitalize on growth prospects driven by highly impacting technology trends. 

Segmentation

Global Rubidium Market: Segmentation

By Production Process

• Lepidolite
• Pollucite
• Others

By Application

• Biomedical Research
• Electronics
• Specialty Glass
• Pyrotechnics
• Others

By Regions

• North America
• Asia-Pacific
• Europe
• LAMEA