Sarasota, FL -- (SBWIRE) -- 03/26/2019 -- Osmium Market: Overview
Osmium is obtained through extraction of platinum metal from its ores. It is found as an alloy with iridium. It is bluish grey in color and is one of the densest elements found in nature. Symbolically it is represented as Os and has atomic number 76. Physically, osmium is hard, brittle, and lustrous in nature. Its luster is retained even at high temperatures. Osmium is toxic in nature and undergoes a chemical reaction to form osmium tetroxide when exposed to air. Owing to the toxicity of osmium, there are numerous regulations on the use of osmium. Osmium is used to make alloys since it induces properties such as hardness and corrosion resistance into the alloy.
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Osmium Market: Facts
An international team of scientists from the University of Bayreuth probed certain samples under extreme conditions. The team made use of the extreme X-rays from the synchrotron resources PETRA III at APS in the U.S and DESY, ESRF in France. After the experiment, they found that osmium showed extraordinary structural stability and retained their crystalline structure even at high pressures.
Osmium Market: Segmentation
The global osmium market is segmented into its form, grade, application, and geography. Based on form, the market is divided into granules, rod, and pellets. On the basis of grade, the market is segregated into analytical grade and technical grade. Based on application, the market is categorized into fountain pen nibs, instrumental pivots, electrical contacts, and others such as gramophone, compass needles, and clock bearings. Based on geography, the market is classified into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
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Osmium Market: Growth Factors
The chemical industry has been exhibiting a sustainable development globally. The growing use of osmium for innovative medical applications is expected to drive the demand for the osmium market. Various research institutes have been using osmium in optical and electron microscopy, fingerprint detection, and in staining fatty tissues which have boosted the market demand for osmium. Alloys made from osmium are used in manufacturing surgical implants and instruments and they are greatly used in the chemical industry due to its volatile and strongly oxidizing nature. These applications of osmium have positively influenced the market demand. Price of osmium remains stagnant which further favors market growth. However, toxic nature of osmium necessitates efficient storage facilities. This may cause a hindrance to the market growth in the coming periods.
Osmium Market: Regional Analysis
The largest share in the osmium market is held by North America. The U.S. and Canada will be the major contributors to the market in this region. North America is expected to be followed in its growth by the European regions. Also, market share will gradually increase in Asia Pacific region. Globally, China is the major exporter of osmium that adds to the revenue of the Asia Pacific osmium market. Considerable demand is expected from the Latin America and the Middle East and African regions.
Osmium Market: Competitive Players
Some of the major companies involved in the global osmium market include Ceimig Limited, American Elements, Reade International Corp and Cleantech, among others.
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Osmium Market: Regional Segment Analysis
Middle East and Africa
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