What is Global Industrial Radioactive Sources Market?
The Global Industrial Radioactive Sources Market is a specialized sector that deals with the production and distribution of radioactive sources used in various industrial applications. These sources, which include isotopes like Co-60, Ir-192, Cs-137, Se-75, among others, are used in a variety of ways, such as irradiation and flaw detection. The market is a crucial part of the global industrial landscape, providing essential materials for a wide range of industries. However, it's important to note that the market is subject to stringent regulations due to the potential hazards associated with radioactive materials. Therefore, companies operating in this market must adhere to strict safety standards and protocols to ensure the safe handling and use of these sources.
Co-60, Ir-192, Cs-137, Se-75, Others in the Global Industrial Radioactive Sources Market:
The isotopes Co-60, Ir-192, Cs-137, Se-75, and others play a significant role in the Global Industrial Radioactive Sources Market. Co-60, or Cobalt-60, is a radioactive isotope used in various industrial applications, including radiation therapy in medicine and irradiation in food processing. Ir-192, or Iridium-192, is another important isotope used in industrial radiography to test the integrity of structural materials. Cs-137, or Cesium-137, is used in medical applications and industrial gauges. Se-75, or Selenium-75, is used in radiography. These isotopes, among others, form the backbone of the Global Industrial Radioactive Sources Market, providing essential materials for a wide range of industrial applications.
Irradiate, Flaw Detection, Others in the Global Industrial Radioactive Sources Market:
The Global Industrial Radioactive Sources Market finds its application in various areas such as irradiation and flaw detection, among others. Irradiation involves exposing products to radiation to kill bacteria and other pathogens, making it a crucial process in industries like food processing and medical equipment sterilization. On the other hand, flaw detection involves using radiation to detect defects in materials, a process widely used in industries like construction and manufacturing. These applications highlight the importance of the Global Industrial Radioactive Sources Market in supporting various industrial processes.
Global Industrial Radioactive Sources Market Outlook:
The Global Industrial Radioactive Sources Market is projected to experience steady growth in the coming years. In 2022, the market was valued at US$ 35 million, and it is expected to reach US$ 39 million by 2029, growing at a CAGR of 1.9% during the forecast period 2023-2029. Nordion, a global health science company, is the largest manufacturer of Industrial Radioactive Sources, holding over 45% of the market share. In terms of product, Co-60 is the largest segment, accounting for over 70% of the market. These figures underscore the market's potential for growth and the dominant role of key players like Nordion.
| Report Metric | Details |
| Report Name | Industrial Radioactive Sources Market |
| Accounted market size in 2023 | US$ 35 million |
| Forecasted market size in 2029 | US$ 39 million |
| CAGR | 1.9 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Nordion, Rosatom, China lsotope & Radiation Corporation, Eckert & Ziegler Strahlen, Polatom, NTP |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
