Yttrium Price Trend

Yttrium Prices 2023 Average

In 2023, the price of the yttrium in the United States reached 7974 USD/MT.
Likewise, the yttrium price reached 6,276 USD/MT in 2023 across China.

Yttrium Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Yttrium Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of yttrium pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of yttrium at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of yttrium price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing yttrium price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Yttrium Market Analysis

The global yttrium market size reached 11.5 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 14.6 Thousand Tons, at a projected CAGR of 2.70% during 2023-2032.

• The increasing demand for high-performance materials in aerospace and defense industries, where yttrium alloys are used to manufacture lightweight, heat-resistant components.
• The expanding electronics industry continuously fuels the need for yttrium, especially in producing phosphors for displays and lasers.
• The shift towards renewable energy sources and the role of yttrium in the production of wind turbines and other green technology equipment highlight its importance in sustainable developments.
• There is an increasing interest in yttrium for its application in medical technologies, particularly in cancer treatment drugs and surgical supplies, which is expected to boost market growth.
• Compounding these factors, the development of new mining projects and refining technologies aimed at enhancing yttrium yield and purity is likely to sustain the market's expansion.
• The semiconductor industry's expansion, driven by consumer electronics, telecommunications, and computing, also augments the need for yttrium.
• Improvements and expansions in the global supply chain for rare earth elements like yttrium enhance its availability and reduce costs, making it more accessible for a variety of applications.
• Increased funding and investment in R&D activities related to yttrium applications, particularly in high-tech and medical fields, will likely unveil new uses and increase its market demand.
• Yttrium's application in high-temperature superconductors, such as yttrium barium copper oxide (YBCO), is driving its demand.
• The use of yttrium in advanced ceramics for electronic and structural applications is expanding.
• Yttrium stabilizes the zirconia in ceramics, enhancing their thermal and structural properties for use in dental implants and automotive sensors.
• Yttrium is integral in improving the durability and heat resistance of various metal alloys used in aerospace and automotive industries.
• As countries recognize the strategic importance of rare earth elements like yttrium, there are movements to stockpile these resources to ensure supply security.
• The biomedical sector's interest in yttrium for radiopharmacy, particularly in radiotherapy for cancer treatment, presents a growing market.
• Yttrium-90, for example, is used in liver cancer treatment through radioembolization, showcasing a direct application of yttrium in improving patient outcomes.

Yttrium News

The report covers the latest developments, updates, and trends impacting the global yttrium market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the yttrium price trend.

Latest developments in the yttrium industry:

• On May 10, 2024, China Brand Day in Shanghai, Vice Premier Zhang Guoqing and other high-profile officials gave speeches, marking China Minmetals' first participation with its brand at the expo. Deputy Party Group Secretary Wang Jiezhi of China Minmetals attended and visited their exhibition area.
• On May 30, 2023, Alkane has completed the acquisition of two exploration tenements in New South Wales from Sandfire Resources, receiving approval from the Department of Regional NSW. As part of the agreement, Alkane issued 2,781,438 shares to Sandfire Resources.
• On September 23, 2023, IREL's annual production is regulated by government permissions rather than industrial demand, ensuring sustainability in the supply of industrial materials. The production of heavy minerals occurs incidentally during the processing of strategic materials.

Product Description

Yttrium is a member of the group of rare earth metals on the Periodic Table and is abbreviated as ‘Y’. It is not present naturally, but can be obtained from minerals like xenotime and monazite wherein it forms as a part of yttrium oxide meaning yttria in general; Y2O3. Common methods in extracting yttrium include solvent extraction and ion exchange; these are methods enhanced in order to get metallic yttrium or its compounds. Yttrium is one of the rare earth elements that show very good ability to dissolve and mix with other elements and compounds, and thus improve materials’ characteristics for something particular.

Yttrium plays a significant and big role in today’s modern technology and manufacturing industries. It is an ingredient in phosphors utilized in the production of CRTs and LEDs, that makes it exceptionally valuable in display devices. Yttrium is also used to stabilize zirconium in ceramics which is crucial in the creation of powerful heat-resistant ceramics used in for instance in dentistry applications and the aerospace industry. It is beneficial for the medical field as well; the yttrium isotopes are used in some kinds of cancer treatments, namely in the radiation therapy, because they are highly effective against Cancer cells and do not harm the surrounding healthy tissues and organs greatly.

These features prove the importance of yttrium as a material in these fields, demonstrating that it is an indispensable element in the progress of the technologies constantly improving the everyday items we use and the special equipment providing the efficient functioning of the modern industry. These applications are evident in the continuous need for this element in improving the performance, strength, and efficiency of various products in numerous industries.

Regional Coverage

The report provides a detailed analysis of the yttrium market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the yttrium price trend.

Global Yttrium Price

The report offers a holistic view of the global yttrium pricing trends in the form of yttrium price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of yttrium but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes. 

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed yttrium demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Yttrium Price

Europe's yttrium pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence yttrium production costs. Additionally, the region's dependency on yttrium imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for yttrium can also be provided for an extensive list of European countries.

North America Yttrium Price

In North America, yttrium prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence yttrium supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific yttrium historical data within the United States and Canada can also be provided.

Middle East and Africa Yttrium Price

The yttrium pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global yttrium supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Yttrium Price

In the Asia Pacific region, yttrium pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of yttrium, making the Asia Pacific market a complex environment for price trend analysis.

This yttrium price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Yttrium Price

Latin America's yttrium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in yttrium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing yttrium pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of yttrium pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting yttrium price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The yttrium price charts ensure our clients remain at the forefront of the industry.