Global Tantalum Market 2017-2021
Tantalum is an element of the periodic table with the symbol Ta, and atomic number 73. Tantalum finds use as an industrial metal due to its properties of capacitance, hardness, corrosion resistance, and high heat resistance. Tantalum is available in the form of wire, sputtering target, and rod, and compounds as nanopowders. Tantalum is usually found in the compound form and is not available in nature as a free element. The most common tantalum mineral is columbite or tantalite. Both tantalite and columbite have the same mineral structure.
Technavio’s analysts forecast the global tantalum market to grow at a CAGR of 3.13% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global tantalum market for 2017-2021. To calculate the market size, the report considers the sales of tantalum for capacitors, turbine and aircraft structure parts, optical coatings, medical implants, thin-film resistors, carbide cutting tools and wear parts, and other end-markets.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tantalum Market 2017-2021
Technavio recognizes the following companies as the key players in the global tantalum market: Advanced Metallurgical, China Minmetals, Global Advanced Metals, H.C. Starck, and Ningxia Orient Tantalum Industry.
Other Prominent Vendors in the market are: Ethiopian Mineral Development Share Company, Jiangxi KING-TAN Tantalum Industry, and Mineração Taboca.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is huge growth prospects due to increasing IoT applications. The Internet of Things (IoT) applications are expected to have a tremendous growth during the forecast period. The introduction of new and innovative electronic and electrical products with advanced connectivity features will boost the IoT applications. The greater propagation of the idea of a connected world will further stimulate innovation and the introduction of electronic and electrical products, i.e., smartphones, notebooks, TV sets, and tablets. These products extensively use capacitors for their functioning.”
According to the report, one of the major drivers for this market is smartphone penetration triggering demand for capacitors. The telecommunication sector is the most prominent end-user segment for low voltage capacitors, comprising over 32% of the market, thus, growing telecommunication sector will act as a major driver for the market. Currently, the growth of telecommunication sector is attributed to the growing demand for smartphones and its increasing penetration, especially in the developing economies. The fact that the content of capacitors in smartphones significantly surpasses that of traditional handsets, this encompasses the contribution of increasing penetration or the demand for smartphones to the growth of the overall market.
Further, the report states that one of the major factors hindering the growth of this market is tantalum designated as conflict mineral. Columbite-tantalite, or coltan as it is commonly known, has been designated as a conflict mineral by the Secretary of State of the US. Conflict minerals are those minerals that come from areas of the world in which conflicts are affecting the mining and trading of those minerals in the global market. Tantalum is designated as a conflict mineral due to the number of conflicts arising in the Congo, which has great reserves of tantalum.
Advanced Metallurgical, China Minmetals, Global Advanced Metals, H.C. Starck, Ningxia Orient Tantalum Industry, Ethiopian Mineral Development Share Company, Jiangxi KING-TAN Tantalum Industry, Mineração Taboca.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook