Rubidium Market: By Production Process (Lepidolite, Pollucite, Carnallite, Zinnwaldite, Leucite), By Product Type (Rubidium Chloride, Rubidium Carbonate, Rubidium Hydroxide, Rubidium Copper Sulphate, Rubidium Silver Iodide, Rubidium Nitrate, and Others), By Application Sector (Biomedical Research, Electronics, Specialty Glass, Pyrotechnic, Other Application Sectors) and Geography.

Rubidium Market was valued at USD X million in 2022 and is poised to grow at a CAGR of 4.8% over 2023-2029. Global demand for rubidium is modest and is predicted to increase in upcoming years. Rubidium is a very soft, highly reactive, ductile, silvery-white metal. It can be liquid at ambient temperature but melts above 40 degrees Celsius. It is extensively used in ion engines for space vehicles, in vacuum tubes as a getter to remove residual gases, in coatings on the electrodes of thermionic power converters and in making specialty glasses for night vision devices. In addition, they are used to make photocells, atomic clocks and optic fiber for telecommunications. The driving factors for the rubidium market is its growth in biomedical research applications and its primary use in the manufacture of specialty glasses owing to its impressive high-speed connectivity. It is also incorporated in solar cells for high-efficiency power conversion.

According to a research article in ACS, Rubidium incorporated perovskite films in solar cells achieve 20% more power conversion for both double and triple-cation perovskite systems. The increasing awareness among individuals for renewable source of energy to reduce carbon footprint, government encouraging to use solar energy, escalating demand for rubidium in biomedical research, developed infrastructure and increased population, and market players investments oriented to new technologies are some of the factors leading to the growth of the rubidium market. However, the COVID-19 pandemic negatively affected the rubidium market owing to slowed down advancement in biomedical industry. Moreover, high cost, difficulty in transportation and storage and some potential safety hazard during the production of rubidium-containing products affected the rubidium market. Despite this the presence of intense competition due to global recovery from a pandemic, increased investors, implementation of various government policies, and difference in economic and social challenges in different countries is expected to further enhance the growth of the market during the forecast period.

Rubidium Market Key Developments:

• In June 2022, Orolia had launched an upgraded edition mRO-50 Ruggedized- a space based atomic clock of its low SWaP-C miniaturized rubidium oscillator product line
• In August 2021, International Lithium Corp. Canada secured over 14,000 hectares of mining rights adjacent to the Lake Raleigh lithium-rubidium project in Ontario and built the Raleigh Lake project at just over 17,000 hectares.
• In March 2020, Curium and DMH Global completed a transaction where Curium acquired Zevacor Molecular. Zevacor Molecular is a leader in the production of strontium 82 used in the manufacture of rubidium 82 generators for cardiac PET imaging.
• In October 2020, Bracco Imaging S.p.A announced FDA approval of the new CardioGen-82 infusion system to improve the electronics, efficiency and convenience of cardiac emission tomography (PET) myocardial perfusion imaging (MPI).