Tantalum Market Forecasts to 2030 – Global Analysis By Product Type (Lithium Tantalite, Tantalum Carbide, Tantalum Oxide and Other Product Types), Product Forms (Alloys, Carbide, Metal, Powder and Other Product Forms), Product Grade (Medical Grade Tantalu

Tantalum Market Forecasts to 2030 – Global Analysis By Product Type (Lithium Tantalite, Tantalum Carbide, Tantalum Oxide and Other Product Types), Product Forms (Alloys, Carbide, Metal, Powder and Other Product Forms), Product Grade (Medical Grade Tantalum and Commercial Grade Tantalum), Application, End User and By GeographyAccording to Stratistics MRC, the Global Tantalum Market is accounted for $4.82 billion in 2023 and is expected to reach $8.33 billion by 2030 growing at a CAGR of 8.13% during the forecast period. Tantalum is a transition metal that has a high melting point and strong corrosion resistance. It is a chemical element that is lustrous and blue-grey in colour and extremely hard to find. Hard rock mines are the primary source of tantalum, but it is also present in artisanal mines, tin slag, and minerals like tantalite, columbine, and colton. Tantalum is used as a substitute for platinum due to its chemical immobility and has a wide range of uses in laboratory equipment, electronic devices, medical equipment, the production of superalloys, etc.

According to the India Brand Equity Foundation, By 2025, Electronics consumption will increase to US$400 billion by 2025, up from US$33 billion in FY20.

Market Dynamics:

Driver:

High demand from electronics industry

The high demand for tantalum in the aerospace and aviation industries, as well as in the production of electronic devices and gadgets, is what drives the tantalum market. The most widely used forms of tantalum are wire and powder. One of their areas of expertise is the production of capacitors. Tantalum carbide is used to make cutting tools, whereas tantalum oxide is used to make camera lenses and X-ray equipment. These elements are equally responsible for the market's expansion.

Restraint:

Price volatility and disruption in supply demand

As lithium, molybdenum, indium, and niobium are all components of tantalum, price fluctuations may hinder the market's expansion. The tantalum industry's price swings and market turbulence indicate issues with the supply chain's resiliency and stability. The tantalum market thus faces a number of difficulties as a result of factors like price volatility and a demand-supply imbalance, which hinder market growth.

Opportunity:

Innovation and adoption of high-end technologies

In the last few decades, there has been an increase in demand for electronic devices in the industrial sector due to the development and adoption of high-end technologies, automation, computerised data recording, collection, and inspection practises, and other such advanced techniques in industries around the world. Global service sector growth is being accelerated by technology-driven transformation, including the deployment of LTE/4G networks and Internet of Things (IoT) services. This has increased demand for electronic devices and appliances, including laptops, computers, air conditioners, and other items. In the upcoming years, the demand for tantalum is likely to rise due to the growth of the electronics industry.

Threat:

Limited supply

Tantalum is a relatively uncommon metal, and only a few nations, including Rwanda and the Democratic Republic of the Congo (DRC), have significant reserves. Tantalum can be replaced with other materials, such as niobium or ceramics, in some applications, which can lower demand and prices. Additionally, supply fluctuations have had an impact on the global tantalum market as a result of political unrest and conflict in these areas. Such fluctuations may hinder the market.

Covid-19 Impact

Due to limited production, a broken supply chain, logistical challenges, and a decline in demand, the COVID-19 pandemic had a significant impact on the tantalum market. However, with strong demand and flourishing applications in important sectors like aerospace, electrical and electronics, and others, it is anticipated that the tantalum market will expand quickly over the course of the forecast period.

The electrical & electronics segment is expected to be the largest during the forecast period

Due to the significant demand for tantalum in the production of high-power resistors and capacitors, the Electrical & Electronics segment is anticipated to hold the largest market share during the forecast period. Tantalum in capacitors makes them lighter and smaller. Because of this, there is an increasing need for capacitors in the production of personal computers, mobile phones, and automotive electronics. As a result, the electrical and electronics industry is expanding and driving the market.

The capacitors segment is expected to have the highest CAGR during the forecast period

Due to rising demand from end-use industries, the capacitors segment is anticipated to expand quickly during the forecast period. In order to make electrolytic capacitors, capacitors are used. The medical, aerospace, and renewable energy sectors are just a few that frequently use these electrolytic capacitors. Additionally, tantalum capacitors, which have the highest capacitance per unit space of any capacitor, are frequently used in compact electrical apparatus.

Region with largest share:

During the forecast period, Asia-Pacific is expected to hold the largest market share. The market is primarily being propelled by the rise in demand from end-user industries such as electronics, aerospace, and medical equipment. The largest tantalum consumer in the Asia-Pacific region is China. In the upcoming years, it is anticipated that domestic tantalum capacitors will continue to gain market share, combined with Asia-Pacific's rapid growth.

Region with highest CAGR:

During the projection timeframe, North America is anticipated to offer market vendors a number of expansion opportunities. The growth of the biofuels market in this region will be greatly impacted by the increase in smartphone use that is driving up capacitor demand. The region's main tantalum markets are in the US and Canada. Furthermore, over the course of the forecast period, it is expected that the growing number of mining operations in the North American region will support the market's robust expansion.

Key players in the market

Some of the key players profiled in the Tantalum Market include Admat Inc., Advanced Materials Inc., AMG Advanced Metallurgical Group NV, Cabot Corp., China Minmetals Corporation,CNMC Ningxia Orient Group Co. Ltd, Ethiopia Mineral Development Share Company, Fogang Jiata Metals Co. Ltd, Global Advanced Metals Pty Ltd, H.C. Starck GmbH, High-Performance Alloys, Inc., Jiangxi Tungsten Industry Group Co. Ltd, Mokawa Inc., Ningxia Orient Tantalum Industry Co. Ltd, Talison Minerals Pvt. Ltd., Taniobis GmbH, Tantec GmbH, The USA Titanium Industry Inc. and Ultra metal minor Limited.

Key Developments:

In April 2023, Cabot Corporation announced that it has acquired the Chiba solar farm from Shoko Co., Ltd. The solar farm adjoins Cabot’s carbon black manufacturing facility in Chiba, Japan and will enable Cabot to export solar power as renewable energy to the electrical grid in the region. The Chiba solar farm generates up to 3,500 megawatt-hours (MWh) per year of electricity, which is equivalent to powering over 700 homes in Japan annually. The acquisition supports the company’s sustainability strategy as the solar farm is an investment in renewable energy.

In April 2023, As part of the HVBatCycle (high voltage battery recycling) project, TANIOBIS has put the lithium-ion battery (LIB) recycling facility into operation. The project’s objective was to develop sustainable, energy-efficient processes throughout the HV battery value chain, ultimately creating a closed battery materials loop. This has now been achieved.

In June 2022, H.C. Starck Tungsten Powders, a subsidiary of the Masan High-Tech Materials Group, and the Center for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW) are jointly investigating the use of tungsten-based cathode coatings in lithium-ion batteries. After various tungsten precursors were first systematically examined for their suitability, the first coating tests have now started. This will be followed by electrochemical investigations.

Product Types Covered:
• Lithium Tantalite
• Tantalum Carbide
• Tantalum Oxide
• Other Product Types

Forms Covered:
• Alloys
• Carbide
• Metal
• Powder
• Other Forms

Grades Covered:
• Medical Grade Tantalum
• Commercial Grade Tantalum

Applications Covered:
• Capacitors
• Chemical Processing Equipment
• Engine Turbine Blades
• Medical Equipment
• Semiconductors
• Other Applications

End Users Covered:
• Aerospace
• Electrical & Electronics
• Medical & Healthcare
• Chemical & Pharmaceuticals
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026 and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements