Enjoy complimentary customisation on priority with our Enterprise License!
The mercury market size is projected to increase by USD 695.42 million, at a CAGR of 2.94% between 2023 and 2028.
The market report includes a comprehensive outlook on the market offering forecasts for the industry segmented by Application, which comprises electrical and electronics, measuring and controlling devices, dental application and gold processing. Additionally, it categorizes Product into metal, alloys and compounds and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
The growth of the market is propelled by the increase in the adoption of mercury in button cell batteries, although its progress is hindered by the stringent regulation on the emission and use of mercury. Furthermore, there is a notable upward trend in the increasing efforts to recycle and recover emissions of mercury.
To learn more about this report, Request Free Sample
Mercury is one chemical element that exists in many forms, some of which are naturally occurring in the surroundings. The silver-white, lustrous, odorless liquid known as metallic or elemental mercury is commonly used to make fluorescent lightbulbs, barometers, and thermometers.
The electrical and electronics segment is estimated to witness significant growth during the forecast period. In the market, electrical and electronics applications play a crucial role, primarily due to the unique properties of mercury, which are utilized in a variety of electrical devices and electronic components owing to its high conductivity and stable liquid state at room temperature. Fluorescent lamps are low-pressure mercury vapor lamps that generate light through the combination of mercury and fluorescence.
Get a glance at the market contribution of various segments View the PDF Sample
The electrical and electronics segment was the largest and was valued at USD 1,816.77 million in 2018. Further, mercury is applied in the manufacturing of batteries, particularly button cell batteries used in various electronic gadgets. Mercury oxide batteries, although declining in popularity due to environmental concerns, have historically been employed for their high energy density. In the field of sensors, mercury is utilized in tilt and motion sensors for accurate detection and measurement. However, it is essential to note that the market faces challenges due to environmental regulations and concerns regarding mercury toxicity. Efforts are underway to reduce mercury usage in various applications and promote environmentally friendly alternatives, thereby hindering the growth of the market in the electrical and electronics sector during the forecast period.
Based on the product, the market has been segmented into metal, alloys and compounds. The metal segment will account for the largest share of this segment.?The extraction process involves heating the cinnabar ore to release mercury vapour, and during this process, other metals present in the ore may also be released. The market is influenced not only by the demand and supply dynamics of mercury itself but also by the market conditions of these associated metals. Additionally, the management and utilization of these by-products are subject to environmental regulations to ensure responsible mining practices and minimize any environmental impact associated with the extraction process. As the market evolves, considerations around the extraction and utilization of these by-products continue to play a role in shaping industry practices. Thus, the increase in the use of mercury as a metal boosts the growth of the market during the forecast period.
APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
Further, the Asia-Pacific region significantly influences the global mercury market. The increasing industrialization and rapid economic development in APAC countries, particularly in China and India, have been key drivers for the demand for mercury. Mercury is extensively used in a range of industries, including electrical and electronics, chemical manufacturing, and mining, aligning with the flourishing industrial landscape of the region. One of the primary drivers in the regional market is the surging demand for mercury in the electronics sector, driven by the region's dominance in manufacturing electronic devices.
In addition, the production of electronic components, such as compact fluorescent lamps (CFLs), batteries, and sensors, relies on mercury. With the growing consumer electronics market, the demand for these products is expected to fuel the consumption of mercury in APAC during the forecast period.
The increase in the adoption of mercury in button cell batteries is notably driving the market growth. The use of mercury in batteries serves as a driver in the market, particularly in the production of button cells and certain types of alkaline batteries. Mercury oxide batteries, commonly known as mercuric oxide batteries, have historically utilized mercury to generate electrical energy. These batteries have unique characteristics, such as high energy density and stable voltage output, making them suitable for certain applications, such as medical devices and aviation equipment. Further, the growing demand for these batteries propels market expansion, meeting the rising need for reliable power sources in various applications worldwide. Therefore, an increase in the use of mercury in button cell batteries will drive the growth of the market during the forecast period.
Increasing efforts to recycle and recover emissions of mercury is an emerging trend shaping the market growth and trends The market is increasing emphasis on recycling and recovery efforts to mitigate environmental impacts and reduce the amount of mercury released into the environment. Recognizing the persistent nature and toxicity of mercury, stakeholders are actively pursuing strategies to enhance recycling practices and recover mercury from end-of-life products. Furthermore, educational campaigns and awareness programs are fostering a culture of responsible mercury disposal and recycling among consumers and industries. This trend aligns with global commitments to reduce mercury emissions, as outlined in international agreements such as the Minamata Convention. As recycling technologies advance, the market is gradually evolving toward a more circular economy, where the recovery and reuse of mercury play a pivotal role in minimizing its environmental impact, which can boost the growth of the market during the forecast period.
Stringent regulation on the emission and use of mercury is a significant challenge hindering market growth. The challenge posed by regulatory restrictions is notably exemplified by the Minamata Convention. For instance, according to the US Environmental Protection Agency, on 12 December 2023, a multilateral environmental agreement called the Minamata Convention on Mercury addressed particular human activities that are causing widespread mercury pollution. Over the ensuing decades, this agreement's implementation will contribute to a decrease in mercury pollution worldwide. The international community has the chance to address this growing issue before it gets worse with the Minamata Convention on Mercury. Further, global supply chains are also affected as countries committed to the convention are obligated to curtail mercury supply, impacting the availability and pricing of mercury. Thus, due to the high impact of mercury on the environment, which limit the market research and growth during the forecast period.
Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and result of market growth analysis.
Aldrett Hermanos SA de CV - The company offers mercury such as Metallic Mercury, which is used in electrical switches as a liquid contact material, as a working fluid in diffusion pumps in vacuum techniques.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including Aldrett Hermanos SA de CV, Albemarle Corp., Almaden Minerals, Avantor Inc., Carbanio, China Jin Run Industrial Co. Ltd., Henan Tianfu Chemical Co. Ltd, High Purity Standards, Lab Alley, Labogens Fine Chem Industry, Luciteria Science, MaTecK GmbH, Merck KGaA, MERU CHEM PVT. LTD., Nanoshel LLC, Noah Chemicals, NovaElements, Spa Corp., Vivid India, and Wake Group
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting growth strategies.
Global market Customer Landscape
Mercury Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.94% |
Market Growth 2024-2028 |
USD 695.42 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.66 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 57% |
Key countries |
Mexico, China, Tajikistan, Norway, and Peru |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aldrett Hermanos SA de CV, Albemarle Corp., Almaden Minerals, Avantor Inc., Carbanio, China Jin Run Industrial Co. Ltd., Henan Tianfu Chemical Co. Ltd, High Purity Standards, Lab Alley, Labogens Fine Chem Industry, Luciteria Science, MaTecK GmbH, Merck KGaA, MERU CHEM PVT. LTD., Nanoshel LLC, Noah Chemicals, NovaElements, Spa Corp., Vivid India, and Wake Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.