Global [FURL=https://www.industryarc.com/Report/15671/californium-market.html]Californium Market[/FURL] size is forecast to reach around $800.2 million by 2025, after growing at a CAGR of 5% during 2020-2025. Californium is highly radioactive chemical elements represented with the symbol Cf and atomic number 98. Californium belongs to the actinide series and is used for practical applications. The surging uses of californium due to its radioactive properties in a number of applications like neutron source in nuclear reactors, material scanners, and certain types of cancer treatment drive the growth of global californium market size. Additionally, the growing well logging activities in the oil industries from the US and Middle East country is also propelling the growth of this market.Key Takeaways
In South America region, Brazil and Argentina are the major emerging market for the Californium owing to growing industrialization and developing healthcare sector.
The outbreak of COVID-19 is also considered as the major restraining factor to the market growth over the forecast period. COVID-19 pandemic has badly impacted the global supply chain and world economy. Besides, Industries are being shuttered all around the globe due to lockdown. Hence, demand is declining for Californium from various industry verticals acts as a restraining factor to the market growth.
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Californium Market Segment Analysis - By Geography
Among the regions, the APAC is projected to witness the highest CAGR of 8% in the global Californium market during the forecast period. The growing demand from healthcare industries across China and India is fueling the growth of this market in the APAC region. In APAC region, China acts as a dominant country in the Californium market owing to the presence of large consumer base and the rapid development of the production of nuclear weapons. Furthermore, developing cancer treatment centers and petrochemical industry across the region and rise in disposables income also contribute to the growth of this market in APAC region.
Californium Market Drivers
Surging demand for Californium across various end-use industries
Californium Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Californium market report. In 2019, the market of Californium top 10 companies accounting for xx% of the share. Major players in the Californium industry outlook are Frontier Technology Corporation, Oak Ridge National Laboratory, Research Institute of Atomic Reactors, among others.
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