Hyderabad, March 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Tantalum Market - (2023 – 2028),” the market studied is expected to grow at a CAGR of 5.5%. The growth of the electrical and electronic industry and the extensive usage of tantalum alloys in aviation and gas turbines are projected to fuel market growth throughout the forecast period. Replacing solid capacitors with polymer tantalum capacitors is expected to act as an opportunity for the market.
What is driving the growth of the Tantalum Market?
Among tantalum powder sintered tantalum capacitors, there are tantalum capacitors with solid and non-solid electrolytes due to different electrolytes. The shell of tantalum electrolytic capacitors is marked with CA, but the symbol in the circuit is the same as that of other electrolytic capacitors.
The following are some of the major market trends shaping the Tantalum Market according to our research experts:
- Tantalum electrolytic capacitor can work normally at the temperature of -50 ℃~100 ℃.
- Although the aluminum electrolytic capacitor can work in this range, its electrical performance is not as good as that of the tantalum electrolytic capacitor.
- Tantalum oxide film in tantalum electrolytic capacitors is not only corrosion-resistant but also maintains good performance for a long time.
- According to the Japan Electronics and Information Technology Industries Association (JEITA), the global computers and information terminal devices export reached a value of JPY 378,097 million in 2021.
- With growth of 106.5%, this is further expected to grow in the coming years, thereby enhancing the demand for the tantalum market.
- Additionally, according to ZVEI, the global consumer electronics market is expected to grow by 5% in 2022.
In 2022, the lighting segment should again manage a slightly higher growth of 6% to EUR 138.5 billion (~USD 147.08 billion), while domestic electric appliances (to EUR 287.4 billion (~USD 305.20 billion)) and consumer electronics (to EUR 268.7 billion (~USD 285.34 billion)) might each increase by 5%. This growth is expected to enhance the demand for tantalum-based capacitors from consumer electronics applications.
How is the growth being addressed?
China is one of the largest aircraft manufacturers and one of the largest markets for domestic air passengers. The civil aircraft fleet in the country has been increasing steadily for the past five years. Moreover, Chinese airline companies plan to purchase about 7,690 new aircraft in the next 20 years, which were valued at approximately USD 1.2 trillion.
Boeing estimated that the domestic average RPK (Revenue Passenger Kilometer) growth rate in China is expected to increase at an annual rate of 6.1% in the next 10 years. Therefore, the demand for capacitors and engine turbine blades for aerospace applications is increasing, which is expected to boost the demand for the market.
India’s digital economy is expected to account for USD 1 trillion by 2025, and the Indian electronics system design and manufacturing (ESDM) sector is expected to generate over USD 100 billion in economic value by 2025.
Who are the key players in the Tantalum Market?
The tantalum market is partially consolidated in terms of tantalum mining companies. Major companies include:
- Global Advanced Metals Pty Ltd
- Pilbara Minerals
- Alliance Mineral Assets Limited
- AMG Advanced Metallurgical Group NV
- Minsur (Mining Taboca)
- Piran Resources Limited (Pella Resources Limited)
- Tantalex Resources Corporation
- Tantec GmbH
- Techmet (KEMET GROUP)
- Taniobis GmbH
Recent developments in the Tantalum Market:
- In March 2022, TANIOBIS GmbH invested a total of EUR 28 million (~USD 29.77 million) in augmenting facilities for the manufacture of functional tantalum powder (“the Product”) at its Map Ta Phut plant in Thailand and significantly increased its production capacity for the product.
- In July 2021, Tantalex Resources Corporation announced entering a binding LOI with MINOR SARL to expand its land package in the prolific Manono lithium, tin, and tantalum hub with an earn-in option agreement to acquire the entirety of the dumps located on PER 13698.
- In May 2021, Pilbara Minerals planned to form a joint venture with tech company Calix to examine the development of a midstream lithium chemicals refinery at the Pilgangoora lithium-tantalum operation in Western Australia.
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 https://www.mordorintelligence.com/industry-reports/tantalum-market
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.
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