Chemical Elements’ Revenues - Part 2

In the previous blog, the estimated revenues generated in 2018 by chemical elements in the periodic table of elements is presented.  In this blog, the estimated revenues generated by the periodic table’s 18 groups, plus the actinoids, are presented in the following table (Table 1):

Table 1 -                                                      group	estimated 2018 revenues in billions usd	% of groups revenue to total of all groups' revenues
group 11 (coinage metals)	293.00	23.1%
group 8	231.35	18.3%
group 1	162.32	12.8%
group 13	154.45	12.2%
group 15 (pnictogens)	85.43	6.7%
group 14	72.19	5.7%
group 12	52.21	4.1%
group 10	41.80	3.3%
group 17 (halogens)	39.18	3.1%
group 16 (chalcogens)	27.80	2.2%
group 2 (alkaline earth metals)	27.57	2.2%
group 6	25.10	2.0%
group 4	14.74	1.2%
group 5	13.02	1.0%
group 9	8.90	0.7%
group 18 (noble gases)	6.42	0.5%
group 3 (rare earth metals)	5.18	0.4%
actinoids	3.50	0.3%
group 7	3.45	0.3%
total	1267.62

Most of the revenues generated in each group is accounted for by the group’s first 2 to 3 elements, often the first element.  Lower-numbered elements make a much more significant economic contribution compared to higher-numbered elements.

Also provided in the previous blog is an expected compounded annual growth rate (CAGR) of revenues for each element from 2018 to 2023.  The average for all the CAGRs is 4% (shown in the table in the previous blog). The table below (Table 2) shows those elements with CAGRs in the high range (7 to 13%) (along with the elements’ estimated 2018-generated revenues):

Table 2 - element	2018 revenues in billions of usd	compound annual growth rate in % 2018 to 2023
Hydrogen	132.30	7
Carbon	23.70	9
Calcium	23.60	7
Oxygen	21.50	8
Cobalt	8.80	10
Platinum	6.30	7
Zirconium	5.00	7
Bromine	3.85	10
Technetium (radio isotope)	3.30	9
Scandium	1.84	12
Lithium	1.63	9
Neodymium	1.30	8
Fluorine	0.67	7
Indium	0.45	7
Sodium	0.39	9
Yttrium	0.39	13
Germanium	0.19	7
Lutetium	0.15	9
Hafnium	0.14	9
Rhenium	0.09	7

Combining estimated revenues with higher than average estimated CAGRs (as done in Table 2) might be useful in identifying those elements of most interest from an economic perspective.

Chemical Elements’ Revenues - Part 1

The table below presents estimated global revenues generated in 2018 by each chemical element (the periodic table of elements).  Elements not listed had no revenues above $10 million.   Also provided is an expected compounded annual growth rate (CAGR) of revenues for each element from 2018 to 2023.

chemical element	2018 revenues in billions of usd	compound annual growth rate in % 2018 to 2023
Iron	231.00	5
Aluminum	151.53	6
Copper	151.00	4
Hydrogen	132.30	7
Gold	128.00	6
Phosphorus	67.50	4
Zinc	52.10	4
Chlorine	33.80	6
Potassium	28.00	4
Lead	27.60	0
Nickel	27.50	4
Carbon	23.70	9
Calcium	23.60	7
Oxygen	21.50	8
Nitrogen	15.80	5
Chromium	14.50	3
Silver	14.00	2
Silicon	13.70	5
Vanadium	9.70	3
Titanium	9.60	4
Cobalt	8.80	10
Palladium	8.00	3
Molybdenum	7.50	3
Tin	7.00	3
Platinum	6.30	7
Sulfur	6.20	3
Helium	5.80	6
Zirconium	5.00	7
Bromine	3.85	10
Uranium	3.50	0
Technetium (radio isotope)	3.30	9
Tungsten	3.10	6
Niobium	2.90	6
Boron	2.25	2
Magnesium	2.00	6
Antimony	2.00	6
Scandium	1.84	12
Lithium	1.63	9
Barium	1.40	4
Neodymium	1.30	8
Iodine	0.86	4
Fluorine	0.67	7
Praseodymium	0.46	6
Indium	0.45	7
Strontium	0.44	5
Tantalum	0.42	4
Sodium	0.39	3
Yttrium	0.39	13
Ruthenium	0.35	0
Argon	0.32	6
Dysprosium	0.24	6
Terbium	0.21	6
Xenon	0.21	4
Germanium	0.19	7
Erbium	0.17	6
Gallium	0.16	5
Lutetium	0.15	9
Hafnium	0.14	9
Beryllium	0.13	3
Cerium	0.13	6
Bismuth	0.10	5
Lanthanum	0.10	6
Ytterbium	0.09	6
Rhenium	0.09	7
Rhodium	0.08	3
Selenium	0.08	2
Mercury	0.07	1
Thallium	0.07	0
Manganese	0.06	4
Gadolinium	0.05	6
Krypton	0.05	5
Cadmium	0.04	3
Neon	0.04	4
Arsenic	0.03	1
Holmium	0.03	6
Iridium	0.02	0
Europium	0.02	6
Tellurium	0.02	3
Samarium	0.01	6
total	1267.61	4
		average

The revenues were obtained from market research reports and other sources found on the Internet.   The revenues shown are not expected to be exact but reasonably good estimates.   Knowing accurately such revenues is difficult; revenue estimates, like all estimates, are based on various assumptions and knowledge limitations, which make accuracy difficult.   Often different revenues are reported in market research reports and other sources, requiring best guesses for the revenues used in the table.   In some cases, I used average 2018 element prices and estimated element consumptions to calculate a revenue.

The revenues are met to represent what was obtained for the element initially produced (i.e., extracted, mined, processed) and then presented to a market for sale.   The revenues are not met to represent what the element might generated in further uses and consequent sales (e.g., revenues generated by sulfuric acid, after it is made using sulfur).  For carbon, the revenues represent sales of activated carbon, graphite, and carbon fibers.  One element, technetium, is radioactive and generates substantial revenues only as a radionuclide used in medicine.   Other radioactive elements also are used as radionuclides, but their revenues were not obtained.

This data was searched for and presented because it seems to me that it might provide some useful insights.   For example, it is of interest to me to know the relative economic importance of chemical elements, as represented by the revenues they are generating.   The compounded annual growth rate (CAGR) of the revenues is of interest in indicating an average for all chemical elements (the table shows 4%), possibly useful as a benchmark.   Also showing those elements with higher CAGRs might be useful for decision making, e.g., those elements may be in short supply.

In my next blog (Chemical Elements’ Revenues – Part 2), I will separate the elements into functional groups, such as industrial gasses and rare earth metals, and show and discuss the groups’ revenues and CAGRs.