Global Tantalum Market - Segmented by Products, Application and Geography - Growth, Trends and Forecast (2018 - 2023)
The global tantalum market is expected to witness a CAGR of approximately 3.1%, during the forecasted period, majorly driven by its increasing application base in the electronics industry and extensive use of tantalum alloys in aviation and gas turbine.
Growing Usage in Electronics Industry
Tantalum is a dense silver metal with high ductility, and heat and electricity conducting properties. Due to the formation of a thin film called oxide, the element possess high corrosion-resistance property owing to which it is highly preferred in the electronics industry. Majority of the tantalum is consumed in the electronics industry primarily as powder and wire for capacitors. The demand for tantalum is expected to rise from the growing telecommunication sector owing to requirement for low voltage capacitors, hence, driving the market for tantalum. Additionally, as the market is increasingly moving towards miniaturization, the tantalum capacitor is preferred in space-sensitive, high-end applications in telecommunications, data storage, and implantable medical devices. Thus, increasing the demand for and consumption of tantalum in the electronics industry. However, market faces certain drawbacks, due to the detrimental effects of tantalum powder, which may hinder the market growth to a certain extent.
Capacitors Dominates the Market
Tantalum powder witnessed the highest demand from the capacitors industry. This is majorly because it offers unique properties, as well as high capacitance value in the smallest physical component size. As a result, driving the demand for capacitors. Furthermore, with the growth of the electronics industry and the technological development for usage of such materials in industries, such as medical, the demand for tantalum is expected to rise. This in turn shall benefit the market for tantalum during the forecast period.
Congo and Rwanda Major Producing Countries
Rwanda and Congo are the world’s largest producer for tantalum. The countries are also among the major exporters of tantalum. In 2016, Congo dominated the market with a production of 370 tons, however in 2017, Rwanda again gained back its position of the major tantalum producing country. But, it is difficult to ascertain the how much tantalum is actually produced in the country’s mines, as it is being said that much of the country’s mineral production arrives from countries, like Congo, where conflict minerals are an issue. However, to solve this issue the government and some companies are focusing on making the mining industry in Rwanda more transparent.
Key Developments in the Market
February 2018: Global Advanced Metals planned to launch direct tantalum mining operations at the Greenbushes Mine assets in Western Australia (WA)
Major Players : H.C. Starck, Ningxia Orient Tantalum Industry Co., Ltd., Metallurgical Products Co., Globe Metals and Mining and Duoluoshan Sapphire Rare Metal Co., Ltd., amongst others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating process type and filler used in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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