Hyderabad, July 13, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Tantalum Market Report (2023-2028)," the market is estimated at 2,303.42 tons in 2023. It is expected to register a CAGR of 5.83% during the forecast period.
Tantalum is a chemical element with the symbol Ta and atomic number 73. It is used in the production of electronic components. Tantalum alloys are used in aviation and gas turbines. The growth of the electrical and electronic industry worldwide is expected to drive the market in the coming years.
Report Summary:
| Report Attribute | Details |
| Market Volume (2023) | 2,303.42 tons |
| Market Volume (2028) | 3,057.86 tons |
| CAGR (2023-2028) | 5.83% |
| Study Period | 2018-2028 |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growth of the electrical and electronic industry. |
| Increasing usage of tantalum alloys. |
Who are the Top Companies in the Global Tantalum Market?
The market is partially consolidated with the presence of tantalum mining companies.
The significant players in the global tantalum market are,
- AMG Advanced Metallurgical Group NV
- Alliance Mineral Assets Limited
- China Minmetals Corporation
- CNMC Ningxia Orient Group Co. Ltd
- Ethiopian Mineral Development Share Company
- Global Advanced Metals Pty Ltd
- Jiangxi Tungsten Industry Group Co. Ltd
- Minsur (Mining Taboca)
- Pilbara Minerals
- Piran Resources Limited (Pella Resources Limited)
- Tantalex Resources Corporation
- Tantec GmbH
- Techmet (KEMET GROUP)
- Taniobis GmbH
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Key Highlights from the Global Tantalum Market Report:
Capacitor Segment to Hold the Largest Market Share
- Tantalum electrolytic capacitors are widely used in various industries, including communications, computers, aerospace, military, etc.
- They have a large capacitance per unit volume. They can perform well in a temperature range of -50o C to 100o C.
- The export of computers and information terminal devices is growing, creating more demand for tantalum.
Asia-Pacific Leading the Market
- Countries like China and South Korea are driving the tantalum market in Asia-Pacific.
- China is the largest base for electronic production in the world. South Korea has a significant electronics industry. India is aiming to have a digital economy of USD 1 trillion by 2025.
- Electronics, aerospace, and medical equipment are the major industries that are driving the tantalum market in the region.
What are the Latest Developments in the Global Tantalum Market?
- In March 2022, TANIOBIS GmbH invested USD 29.77 million in augmenting facilities for the manufacture of functional tantalum powder at its Map Ta Phut plant in Thailand.
- In July 2021, Tantalex Resources Corporation entered a binding LOI with MINOR SARL to expand its land package in the prolific Manono lithium, tin, and tantalum hub.
Mordor Intelligence has Segmented the Global Tantalum Market Based on Product, Application, and Geography.
- By Product (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Metal
- Carbide
- Powder
- Alloys
- Other Product Forms
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Capacitors
- Semiconductors
- Engine Turbine Blades
- Chemical Processing Equipment
- Medical Equipment
- Other Applications (includes Ballistics, Cutting Tools, Optical Applications)
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Production Analysis
- United States
- Australia
- Brazil
- China
- Congo
- Ethiopia
- Nigeria
- Rwanda
- Other Countries
- Consumption Analysis
- Asia-Pacific
- China
- 2 India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Asia-Pacific
- Production Analysis
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Tantalum Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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