Californium Market - Forecast(2021 - 2026)

 Californium Market Overview

Global Californium Market 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. 

 

Californium Market Report Coverage

The report: “Global Californium Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Californium Industry. 
By Type: Californium-251 (Cf-251), Californium-252 (Cf-252), and Others
By Application: Medicine (Cancer Radiotherapy, In-vivo Activation Analysis, and Other Diagnostic Techniques) Nuclear (Nuclear Weapons and Reactors, Neutron Radiography, and Others), Aerospace & Defense, Coal and Cement, Governmental & Academic Research, and Others
By Geography: North America, South America, Europe, APAC, and RoW


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. 


Californium Market Segment Analysis - By Type

The Californium-252 (Cf-252) segment holds the largest share of more than 45% in the Californium market in 2019 due to its greater stability and exceptional neutron emission capabilities. Furthermore, growing consumption of Californium-252 from nuclear industry as a neutron source to initiate the nuclear fission process in reactors and in medical field, used to treat cancer tumors when other radiation treatments failed. As, Californium-252 can only be produced in a high flux isotope reactor and the production process is quite lengthy. At present, High Flux Isotope Reactor (HFIR) at Oak Ridge National Laboratory (ORNL) and SMR3 at RIAR, Russia are only two nuclear reactors capable of producing Cf-252.


Californium Market Segment Analysis - By Application

The Coal and Cement applications segment is projected to witness the substantial growth of CAGR 6% in the Californium market during the forecast period due to growing uses of Prompt Gamma Neutron Activation Analysis (PGNAA) powered by californium-252 in the coal and cement industries. Furthermore, the use of PGNAA offers real-time analysis of samples, also offers the highest level of accuracy and responsiveness for elemental composition readings and contribute to greater cost savings. Thus, due to these advantages of californium, the Coal and cement industry professionals often turn to californium-252 neutron sources.

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Location: United States

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