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Tantalum Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The tantalum market was valued at around 2. 2 kilotons in 2021, and the market is projected to register a CAGR of over 6% during the forecast period (2022-2027). The COVID-19 pandemic halted the growth of several metal markets all around the world.
New York, April 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tantalum Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06241277/?utm_source=GNW
Thereby impacting the market negatively, but the market has been estimated to have reached pre-pandemic levels.
Key Highlights
Over the short term, major factors driving the market studied are the growth of the electrical and electronic industry and extensive usage of tantalum alloys in aviation and gas turbines.
The replacement of solid capacitors with polymer tantalum capacitors is expected to act as an opportunity in the future.
However, the detrimental effect of tantalum powder is expected to hinder the growth of the market studied.
The capacitor’s application segment dominated the market, with major shares of the total tantalum consumed being used as powder and wire to make capacitors in the electronics industry.
Asia-Pacific dominated the market across the world, with the largest consumption from the countries such as China and South Korea.
Key Market Trends
Capacitors to Dominate the Market
Tantalum is highly conductive of heat and electricity, and this property has made it the material of choice for electronic capacitors.
In addition, the ability of tantalum to form an extremely thin oxide coating that acts as a protection layer makes its involvement inevitable in the production of small, high-quality capacitors. Wire and powder are the most used forms of tantalum. These are engaged in the production of capacitors.
Tantalum capacitors have the highest capacitance per unit volume of any capacitor and are used extensively in miniaturized electrical circuitry. As the market moves to greater miniaturization, the tantalum capacitor finds increased application in space-sensitive and high-end applications in telecommunications, data storage, and implantable medical devices.
The use of tantalum capacitors with polymer cathode systems continues in many industry segments. Intrinsically conductive polymers, such as PPY (polypyrrole) and PEDOT (poly(3,4-ethylene dioxythiophene)), have become the polymer material sets of choice for tantalum capacitors.
Based on the aforementioned aspects, the application of capacitors is expected to dominate the market during the forecast period (2022-2027).
Asia-Pacific to Dominate the Market
Asia-Pacific had the largest share in the global market in 2021. The region is primarily driven by the increase in the demand from end-user industries, including electronics, aerospace, and medical equipment.
China is the largest consumer of tantalum in Asia-Pacific. Capacitors and high-end military applications are the key consumption areas for tantalum in the country.
There is no significant market access difference between international manufacturers and domestic manufacturers in the domestic market. The imported industrial-grade tantalum capacitor products used in some projects are expected to be replaced by domestic tantalum capacitor products. The market share of domestic tantalum capacitors is expected to continue rising in the next three to five years.
In India, the National Policy on Electronics 2019 aims to promote domestic manufacturing and export in the entire value-chain of Electronics System Design and Manufacturing (ESDM) to achieve a turnover of INR 26 trillion (USD 400 billion) by 2025.
The Government of India has taken several steps to promote the domestic electronics manufacturing industry and exports from the country. So far, 212 projects have been approved with proposed investments of INR 551.82 billion.
Based on the aforementioned factors, the Asia-Pacific region is expected to dominate the tantalum market during the forecast period (2022-2027).
Competitive Landscape
The tantalum market is partially consolidated in nature in terms of tantalum mining companies. The major companies include Global Advanced Metals Pty Ltd, AMG Advanced Metallurgical Group NV, Pilbara Minerals, Ningxia Orient Tantalum Industry Co. Ltd, and Minsur (Mining Taboca).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06241277/?utm_source=GNW
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