PUBLISHER: The Business Research Company | PRODUCT CODE: 1809629
PUBLISHER: The Business Research Company | PRODUCT CODE: 1809629
Selenium mining involves the extraction of selenium and its compounds. Selenium, a chemical element, is primarily obtained as a by-product during the processing of copper ore. In coal, selenium is found only in trace amounts.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the ensuing trade tensions in spring 2025 are heavily affecting the mining sector, especially in areas such as equipment acquisition, export flows, and supply chain stability. Increased tariffs on imported heavy machinery, drilling tools, and specialized parts have driven up both capital and operational expenditures, leading to delays in project development and reduced production efficiency. Simultaneously, retaliatory tariffs from major trading partners have diminished global demand for U.S. sourced minerals particularly critical resources like lithium, copper, and rare earth elements intensifying revenue challenges. These impacts are hitting mid-sized and niche mining companies the hardest due to their reliance on international markets. In response, the industry is focusing on building domestic equipment supply chains, scaling up mineral recycling programs, and lobbying for tariff relief to regain competitiveness and safeguard long-term resource availability.
The selenium market research report is one of a series of new reports from The Business Research Company that provides selenium market statistics, including selenium global industry, regional shares, competitors with a selenium market share, detailed selenium market segments, market trends and opportunities, and any further data you may need to thrive in the selenium industry. This selenium global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The selenium market size has grown steadily in recent years. It will grow from $0.24 billion in 2024 to $0.25 billion in 2025 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to metallurgical applications, glass manufacturing, photovoltaic industry growth, agricultural applications, pharmaceuticals and health supplements.
The selenium market size is expected to see strong growth in the next few years. It will grow to $0.35 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to semiconductor industry growth, biotechnology, and life sciences, renewable energy expansion, increased demand for animal feed supplements, metal alloys, and the steel industry. Major trends in the forecast period include the rise in battery technologies, environmental remediation technologies, advanced materials and nanotechnology, the emergence of selenium in 3D printing, and digitalization in the mining industry.
The forecast of 8.2% growth over the next five years reflects a modest reduction of 0.2% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. Tariffs on selenium may impact electronics and glass manufacturing, where it's used as a pigment and in semiconductors. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The selenium market's expansion is rooted in the surging demand for mining activities in Eastern Europe, a process involving the extraction of valuable materials from the earth. Selenium, integral in the production of soda-lime-silica glass and container glass, counteracts the green tint caused by iron impurities. The noteworthy 1% increase in mining production in Brazil during March 2022, reported by the Brazilian Institute of Geography and Statistics, exemplifies this escalating demand for mining activities in Eastern Europe, serving as a catalyst for the selenium market's growth.
The anticipated global population surge is poised to be a driving force behind the selenium market's expansion. As the global populace grows, there's an amplified demand for selenium due to its vital role in bolstering human health and nutrition, leading to heightened consumption in food manufacturing and dietary supplements. Projections from the United Nations indicate an imminent increase of nearly 2 billion individuals over the next three decades, elevating the global population from the current 8 billion to an anticipated 9.7 billion by 2050. This burgeoning population growth significantly propels the demand for selenium, contributing substantially to the selenium market's rise.
Prominent companies within the selenium market are intensifying their efforts to establish new mining facilities. These specialized sites encompass diverse processes, equipment, and infrastructure to extract, process, and refine minerals and valuable resources. For instance, in September 2023, Kazakhmys Progress LLP, in collaboration with Russian scientists, spearheaded a pioneering method for manufacturing premium-grade selenium. Their recently launched plant in Balkhash has the capacity to annually produce 75 tons of high-purity selenium. This cutting-edge technology, surpassing conventional methods in efficiency and environmental impact, enables Kazakh scientists to yield top-tier selenium in a single step. With a focus on both domestic and international markets, the plant is poised to cater to the diverse needs of consumers worldwide.
Major companies operating in the selenium market include American Elements Corporation, Hindalco Industries Limited, Mitsubishi Materials Corporation, Sumitomo Metal Mining Co. Ltd., Umicore S.A., Alltech Inc., Lesaffre et Compagnie, Associated British Foods plc, Lallemand Inc., Archer-Daniels-Midland Company, Angel Yeast Co. Ltd., Biorigin - Art in Natural Ingredients, Bio Springer S.A.S., Chr. Hansen Holding A/S, Diamond V Mills Inc., Royal DSM N.V., ICC Brazil, Kemin Industries Inc., Kerry Group plc, Leiber GmbH, Lianyungang Selenium Twins Tech Co. Ltd., Novus International Inc., Nutreco N.V., Orffa International Holding B.V., Pancosma S.A., Phibro Animal Health Corporation, Selko Feed Additives, Trouw Nutrition International B.V., Zinpro Corporation
Eastern Europe was the largest region in the Selenium market in 2024.The regions covered in the selenium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
The countries covered in the selenium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The selenium market includes revenues earned by entities by manufacturing glass, chemicals and pigments, electronics, fertilizers, etc. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Selenium Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on selenium market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for selenium ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The selenium market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.