How has the selenium market evolved, and where is it heading next?
The selenium market size has grown strongly in recent years. It will grow from $0.45 billion in 2024 to $0.49 billion in 2025 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 strong growth in the next few years. It will grow to $0.72 billion in 2029 at a compound annual growth rate (CAGR) of 9.8%. 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 the steel industry. Major trends in the forecast period include the rise in battery technologies, environmental remediation technologies, advanced materials and nanotechnology, the emergence of selenium in 3D printing, and digitalization in the mining industry.
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What are the key drivers behind the rapid expansion of the selenium market?
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.
What is the segmentation for the selenium market?
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
Subsegments:
1) By Inorganic Selenium: Selenium Dioxide (SeO2), Sodium Selenite, Sodium Selenate
2) By Organic Selenium: Selenomethionine, Selenocysteine, Selenium-Enriched Yeast
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Who are the most influential companies in the selenium market?
Major companies operating in the selenium market include 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, 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
Which transformative trends will shape the selenium market landscape?
Major companies operating in the selenium market are increasing their focus on introducing new mining facilities to gain a competitive edge in the market. Mining facilities are specialized sites or locations where various processes, equipment, and infrastructure are employed to extract, process, and refine minerals and other valuable resources from the earth or underground deposits. For instance, in September 2023, Kazakhmys Progress LLP, a UK-based mining company, collaborated with Russian scientists to develop a unique method of producing branded selenium. They opened a new plant in the city of Balkhash, which can produce 75 tons of high-purity selenium per year. This new technology is more efficient and eco-friendlier than traditional methods, allowing Kazakh scientists to produce selenium of the highest purity in a single step. The plant will cater to the domestic and international markets, supplying the needs of both.
What are the major regional insights for the selenium market, and which region holds the top position?
Eastern Europe was the largest region in the Selenium market in 2024. The regions covered in the selenium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
What Does The Selenium Market Report 2025 Offer?
The selenium market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Selenium refers to the 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.
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