DEUTERIUM OXIDE MARKET REPORT OVERVIEW
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The global deuterium oxide market size is anticipated to be worth USD 56 million in 2022 and is projected to touch USD 91.85 million by 2031 with a CAGR of 5.6% during the forecast period.
Deuterium oxide is a compound of oxygen and hydrogen and is also an isotope of deuterium. It is also called as the heavy water or the deuterium water because the density of this compound is greater than that of water. Under normal temperature and pressure this compound is colorless, odorless and is in the form of a normal liquid.
Application of the compound to study the substrate metabolism using nucleic acids, lipids and proteins has been one of the latest trends in the market. Large scope of deuterium and cheaper methods of producing the chemical are the factors driving the market growth.
COVID-19 impact: Decline in Chemical and Nuclear Industry Affected the Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the deuterium oxide market growth and demand returning to pre-pandemic levels once the pandemic is over.
The pandemic of COVID-19 put a brake to almost all markets and industries worldwide. Some of the worst affected industries were the chemical industry and the nuclear industry. The non-availability of skilled workers, the increasing price of raw materials and the rigid restrictions that were imposed were the primary reason for the fall of these markets.
This chemical compound is mainly used as a moderator in nuclear reactors as well as used in NMR (Nuclear Magnetic Resonance). Apart from this it is also implemented in spectroscopy for the purpose of observing the magnetic fields around the nuclei of various atoms. Since deuterium oxide is a key component of the chemical and the nuclear industry it was negatively impacted and suffered during the lockdown period. Post the pandemic, when the chemical and the nuclear industries recovered, there was a considerable increase in the deuterium oxide market share, which will continue to rise in the near future.
LATEST TRENDS
"Simultaneous Measurement of a Range of Substrates Using the Product to Increase Market Growth"
One of the major developments and advancements that has been witnessed in deuterium oxide industry during the recent times is the application of the compound to study the substrate metabolism using nucleic acids, lipids and proteins. The new discoveries have vast scope in the pharmaceuticals and clinical researches.
D2O is now creating wide opportunities to form a more holistic scenario in the vivo-metabolic phenotypes. This is, in turn, enabling greater developments in personalized medications and clinical researches. It also allows the dynamic measurement of substrates to create long-term free-living in the field of clinical settings. Emerging applications in various fields will promote the market growth in the forthcoming years.
DEUTERIUM OXIDE MARKET SEGMENTATION
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- By Purity:
The market can be divided on the basis of purity as follows: 0.999 and 0.998.
The 0.999 segment will be seen dominating the market in the upcoming years.
- By Application:
Classification based on application is as follows: Deuterium Production, Deuterated Solvents, Nuclear Industry, and others. Deuterium Production is anticipated to dominate the industry during the forecast period.
DRIVING FACTORS
"Wide Scope of Deuterium Oxide in The Medical Industry to Drive Up the Market Share "
The above-mentioned compound has a very wide scope not only in the medical industry but also in the chemical and pharmaceuticals markets. Molecular and biochemical analysis is another field where this chemical compound has wide application. It is involved in various studies as an isotopic tracer. Many investigations and researches involving hydrogen are conducted using the versatile compound.
The product is also used as a tool to understand the physiology for treating crucial and serious health issues. Along with this, isotopologues of various organic compounds are made with the help of deuterium oxide. The large scope of this chemical in various industries is a major factor driving the deuterium oxide market growth.
"Introduction of New and Cheaper Production Methods to Drive the Market Growth"
Cheaper production of deuterium is now possible with continuous innovation and advancing technology in the market. The key industry players are focusing on discovering new ways to produce deuterium at a cheaper price. The research has been successful with the emergence of Girdler-Sulfide method. This method is now widely used across the industry.
This process is energy intensive and uses other chemicals as well. Being able to produce deuterium at a cheaper cost is an advantage to the manufactures as it promises them greater returns, higher income, and increased profits.
RESTRAINING FACTOR
"Harmful Health Effects of Deuterium Oxide Could Limit Market Growth"
Consuming very small amounts of heavy water or deuterium oxide may not have serious effects however, greater amounts of heavy water can have a negative impact on our health and is not recommendable or safe. The biochemical reactions that take place inside our body could be affected because of the difference that can be observed in the mass of the different hydrogen atoms.
Feeling dizzy and nauseous are some side effects of consuming appreciable amounts of deuterium oxide. The major reason for this is the difference in the density of the fluid within our inner ear. Mitosis or cellular division can also get affected by this. It reduces the capacity of the mitotic spindles to divide equally. These factors can are expected to limit the product demand in the future.
DEUTERIUM OXIDE MARKET REGIONAL INSIGHTS
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North America is slated to dominate the deuterium oxide market with over more than three-fourth of the share in the market. Canada, the U.S., and Mexico are driving the growth of the market in North America. The growth of this region is attributable to the bulk product demand sales. A diverse range and variety of deuterium oxide solutions are available in the region which makes the production process much easier and faster. The raw materials and other primary chemicals required for the production process are available at a lesser price in this region which creates suitable opportunities for the manufacturers to produce more. Greater production results in greater sales, making North America the largest market share holder.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- Isowater (Canada)
- Heavy Water Board (India)
- deutraMed Inc (Canada)
- Qatran Complex (Iran)
Report Coverage
The report provides an insight into the loom industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 56 Million in 2022 |
Market Size Value By |
US$ 91.85 Million by 2031 |
Growth Rate |
CAGR of 5.6% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type, Application & Region |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the deuterium oxide market expected to touch by 2031?
The global deuterium oxide market is projected and estimated to touch USD 91.85 million by 2031.
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What CAGR is the deuterium oxide market expected to exhibit by 2031?
The deuterium oxide market is expected to exhibit a CAGR of 5.6% by 2031.
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Which are the driving factors of the deuterium oxide market?
Wide scope of deuterium oxide in the medical industry and introduction of new and cheaper production methods are the two major driving factors of the deuterium oxide market.
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Which are the top companies operating in the deuterium oxide market?
Isowater, Heavy Water Board, deutra Med Inc, Qatran Complex are some of the top leading companies in the deuterium oxide market.