Cesium (Cs) is a silvery-white, rare, shiny metal with brilliant blue spectral lines, which is one of the four metals that are liquid at or near room temperature besides gallium, mercury, and francium. According to BlueQuark Research & Consulting, the global cesium market is expected to witness growth at a sluggish rate during the forecasted period. Factors such as the growing importance of cesium in cancer treatment are expected to drive the cesium market in the forecasted period. Further, the increasing oil & gas end-use industry is predicted to account for a significant share of the global cesium market owing to better performance properties of cesium compounds compared to the substitutes. Furthermore, the Wide adoption of cesium chloride as a chemical reagent for the preparation of beverage items such as mineral waters is expected to drive the cesium market in the forecasted period. However, the availability of substitutes and cesium products' costly and reactive nature obstruct the global cesium market's growth. Cesium's maximum pyrophoricity and handling of radioactive cesium compounds are other challenges.

Cesium is used extensively in fireworks, PET, scanning, medical imaging, and radiography. Cesium nitrate is utilized as a coolant and oxidizer in pyrotechnic facilities. Other cesium compounds such as carbonate, hydroxide, and cesium bromide have applications.

The primary factor responsible for the global cesium market's growth would be the increasing demand for cesium compounds in cancer treatment. Growing demand for cesium in the pharmaceutical sector is anticipated to fuel the requirement for pharmaceutical-grade cesium compounds due to an increase in research & development activities for the use of cesium in medical applications. Cesium has the capability to penetrate cancerous cells, changing the acidic pH to alkaline pH, which vitiates the enzyme system of the cancer cell and its reproducing ability. Cesium chloride is used in cancer therapy, medical imaging, and positron emission tomography (PET) in the pharmaceutical and healthcare industry. A growing number of cancer patients are demanding safe medical treatments wherein cesium isotopes are used, which is predicted to drive market growth in the future. Cesium-based cancer treatment therapy is cost-effective and provides a secure, side-effect-free treatment advantage. Thus, the growing importance and demand for cesium in cancer treatment can promote the growth of the global market during the forecast period.

North America leads the global cesium market due to the many end-user industries in the region. It is estimated that the area will account for over half of the market's share globally during the forecasted period. The increasing importance of cesium in numerous applications, such as nuclear medicine, analytical chemistry, and electric power generation, will significantly control the growth of the cesium market in this region. It is an inorganic compound known as a homogeneous alkali metal compound. It is naturally found with other elements such as soils, rocks, and dust. The generally found cesium is not radioactive and is called stable cesium. It is the only secure form of cesium denoted by 133 Cs (one-thirty-three). Another two types of cesium, 134 Cs and 137 Cs, are radioactive. They create beta particles while decaying. 134 Cs have halftime of two years, and 137 Cs have a halftime of 30 years. These radioactive isotopes of cesium are produced during nuclear exposition or the breakdown of uranium in fuel elements. Petroleum exploration is the primary application of cesium. In the oil and gas sector, the aqueous or brine solution of cesium formate is extensively utilized as a drilling fluid and a drill tip lubricant in petroleum exploration. Cesium formate is manufactured by treating cesium hydroxide with formic acid. It can be effectively utilized even if the downhole temperature and pressure are very high. Thus, the need for cesium is increasing in the oil and gas industry, owing to its suitability. Cesium can also be used as a completion fluid for oil extraction applications. Owing to its appropriate density and flow characteristics, cesium formate (the brine solution) is frequently used for such applications. Thus, the appropriateness of cesium formate for the petroleum extraction process due to its features and properties can increase the growth of the cesium market during the forecasted period.

The global cesium market is fragmented. Major market players were Cabot Corporation, Avalon Advanced Materials, American Elements, and Pioneer Resources, among others.

IsoRay, the sole manufacturer of cesium-131 brachytherapy seeds, has esteemed that cesium-131 and its isotope are successful in brachytherapy applications, offering quick and safe radiation treatment when compared to other external beam radiation therapies like 3D conformal radiation therapies, radiosurgery, and tomotherapy. The significance of the organization's cesium-131 in treating prostate and brain cancers was highlighted in various presentations at the ASTRO 2020 yearly meeting in Miami, Florida.

In November 2020, a record volume of storage-and-retrieval ability for quantum memory was achieved with efficiency development from a preceding 25% up to 90% using an array of cesium atoms just 2.5 cm long. It's a significant step on the road to ultimately building large-scale quantum communication networks spanning whole continents. While ordinary memory stores details as binary states (represented by "1" s and "0" s), quantum memory stores as quantum states, also called qubits, for later retrieval. Cybersecurity, faster computational speed, cleaner fertilization, better batteries, and solar capture are a few applications of quantum computers, the computing world's future.

Global Cesium Market report provides deep insights into the current and future state of the cesium market across various regions. The study comprehensively analyzes the cesium market by segmenting based on grade (Technical, Pharmaceutical, and Optical), type (Metal and Compounds (Cesium Formate, Cesium Chloride, and Other Halides, Cesium Carbonate, Cesium Nitrate, Cesium Hydroxide, and Others), end-user industry (Healthcare, Oil and Gas, and Others), application (Petroleum Exploration, Atomic Clocks, Chemical and Nuclear, Medical and Defense, Electrical and Electronics, and Others), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market's growth, in detail. The study covers & includes emerging market size, trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.