Global Selenium Market Size, Share, Trends And Product Valuation Report 2024

Overview and Scope

Selenium refers to mining process of selenium and its compounds. Selenium is a chemical element that is mostly acquired as a by-product of the processing of copper ore. Selenium is only present in trace levels in coal.

Sizing and Forecast

The selenium  market size has grown strongly in recent years. It will grow from $0.42 billion in 2023 to $0.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%.  The  growth in the historic period can be attributed to metallurgical applications, glass manufacturing, photovoltaic industry growth, agricultural applications, pharmaceuticals and health supplements.

The selenium  market size is expected to see strongly grown in the next few years. It will grow to $0.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.  The growth in the forecast period can be attributed to semiconductor industry growth, biotechnology and life sciences, renewable energy expansion, increased demand for animal feed supplements, metal alloys and steel industry. Major trends in the forecast period include rise in battery technologies, environmental remediation technologies, advanced materials and nanotechnology, emergence of selenium in 3d printing, digitalization in the mining industry.

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Segmentation & Regional Insights

The selenium market covered in this report is segmented –

1) By Type: Inorganic Selenium, and Organic Selenium

2) By Mining Type: Underground Mining, Surface Mining

3) By Equipment: Excavator, Robotic Truck, Driller and Breaker, Load Haul Dump, Other Equipment

Eastern Europe was the largest region in the Selenium market in 2023.The regions covered in the selenium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

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Major Driver Impacting Market Growth

The growth in the selenium market is due to the increasing demand for mining in Eastern Europe. Mining refers to the process of extracting useful materials from the earth. Selenium is used in the production of container glass and other soda-lime-silica glass to decolorize the green tint caused by iron impurities. For instance, in 2022, according to the Brazilian Institute of Geography and Statistics, a Brazil-based Government agency, Mining production in Brazil increased by 1 % in March of 2022 over the same month in the previous year. Therefore, the increasing demand for mining in Eastern Europe is driving the growth of the Selenium market.

Key Industry Players

Major companies operating in the selenium market report are American Elements Corporation, Hindalco Industries Limited, Mitsubishi Materials Corporation, Sumitomo Metal Mining Co. Ltd., Umicore S.A., Alltech Inc., Lesaffre et Compagnie, Associated British Foods plc, Lallemand Inc., Archer-Daniels-Midland Company, Angel Yeast Co. Ltd., Biorigin – Art in Natural Ingredients, Bio Springer S.A.S., Chr. Hansen Holding A/S, Diamond V Mills Inc., Royal DSM N.V., ICC Brazil, Kemin Industries Inc., Kerry Group plc, Lallemand Bio-Ingredients Inc., Leiber GmbH, Lianyungang Selenium Twins Tech Co. Ltd., Novus International Inc., Nutreco N.V., Orffa International Holding B.V., Pancosma S.A., Phibro Animal Health Corporation, Selko Feed Additives, Trouw Nutrition International B.V., Zinpro Corporation

The selenium market report table of contents includes:

1. Executive Summary
2. Selenium Market Characteristics
3. Selenium Product/Service Analysis -Product/Service Examples
4. Selenium Market Trends And Strategies
5. Selenium Market – Macro Economic Scenario
…
68. Global Selenium Market Competitive Benchmarking
69. Global Selenium Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Selenium Market
71.Selenium Market Future Outlook and Potential Analysis
72. Appendix

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