Global Polishing Powder market size is 140.24 Million USD in 2017
Thursday, 18 Oct, 2018
REE-based polishing powders are essentially employed to finish the surface of glass products and electrical components, such as display panels, flat glass, optical glass and consumer electronics. Moreover, REEs (i.e. CeO2) can also be used in jewellery as alternative to jeweller’s rouge, i.e. a very fine powder of ferric oxide, to polish precious metals and stones.
The main advantages in using CeO2-based polishes, making them the most used glass polishes, are related to the faster polishing operations, in which CeO2 is mixed with water, and easier cleaning after use.
Rare earth polishing powder can be used in various fields, among those fields, demand from crystal industry accounts for the largest share, with 40.88% in 2017.
There is no doubt that China is the largest producer of rare earth polishing powder. In 2017, China produced 27553 MT rare earth powder, holding 80.30% market share globally. However, it should be noticed that the capacity utilization rate in China is low due to the oversupply. The average utilization is below 30%.
As for consumption, China is the largest consumers with 89.83% share in 2017. Europe is the follower, with 1814 MT rare earth polishing powder being consumed.
The rare earth polishing powder achieved steady growth in the past few years. Increasing demand in optical glasses, consumer electronics will continue to provide support for the industry development. It is estimated that global rare earth polishing powder market will increase to 52089 MT in the year of 2024.