Lanthanum Compounds Market Size and, Global and Regional Share, Trends, and Growth Opportunity Analysis Forecasts (2023 - 2033)

 

The global Lanthanum Compounds market was valued at USD 53.45 billion in 2022 and expected to grow at a CAGR of 6.3% during the forecast period.

The metal lanthanum (La), which is soft, silvery white, ductile, and malleable, tarnishes with time when exposed to air. Along with cerium and other rare earth elements, it is a rare earth metal that is naturally present in sediment. The earth has a plentiful supply of lanthanum. There are several uses for lanthanum, such as glass additives, catalysts, ignition components for lighters and torches, electron cathodes, and scintillators.

In order to address high blood phosphate levels, lanthanum carbonate is utilised as a phosphate binder in pharmaceuticals. A single hybrid electric car requires about 10 kilogrammes of lanthanum to produce.

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The forecast term is expected to see significant expansion in the global lanthanum market. The rising need for lanthanum compounds in electronics, hybrid vehicle manufacturing, and the automotive industry is the main driver of the growth of the worldwide lanthanum market. Additionally, FCC catalysts, which are used to create high-octane gasoline that ""burns"" slowly and improves fuel efficiency, are frequently made with lanthanum.

It has numerous uses, including the storage of hydrogen, fibre optics, coatings for phosphor lamps, cigar lighters, the production of cathode materials and vacuum tubes, and lenses for cameras and telescopes. Radioactive lanthanum has been investigated for use in the treatment of cancer, and the ion La3+ is utilised as a biological tracer for Ca2+.

The global lanthanum market's expansion is hampered by government policies and regulations, mining limits, environmental concerns associated with production, dwindling reserves, and the toxicity of lanthanum products.

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