Tantalum Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Form (Metal, Carbide, Powder, Alloys and Others), By Application (Capacitors, Semiconductors, Engine Turbine Blades, Chemical Processing Equipment, Medical Equipment and Others), and Region Forecast 2019-2030

Tantalum Market size was 1,950.7 Tons in 2022 and is expected to grow at a CAGR of 3.8% from 2023-2029. Tantalum is an atomic number 73 chemical element with the symbol Ta. The demand for tantalum is growing at a rapid pace, and that growth is primarily due to its importance in next-generation electronics; however, there are many other uses for tantalum, including its usage in medical implants, gas turbines, semiconductors, and others. Tantalum is highly conductive of electricity and heat, and this property has made it the material of selection for electronic capacitors. Moreover, the capacity of tantalum to form an extremely thin oxide coating that acts as a shielding layer makes its participation inevitable in producing small, high-quality capacitors.

Wire and powder are the most used forms of tantalum. These are engaged in the manufacture of capacitors. In addition, electronic capacitors remain the largest market for tantalum despite a drop in market share over the past two decades to ceramics and aluminum. Additionally, the electronics industry is proliferating due to the high demand for electrical instruments and consumer electronics such as smartphones, TV, PC, and others in the work-from-home scenario which is anticipated to fuel the market growth.  For instance, the introduction of new technologies, including 4K & OLED televisions with diversifying functionality and electronic content, necessitates the need for increased capacitance, bandwidth, and energy density, thus stimulating product adoption are resulting in producing huge demand for tantalum-based products in the electronic industry.

Further, the rising use of tantalum alloys in aviation and gas turbine are also expected to boost market growth. Additionally, increasing demand for tantalum in medical implants, where its capacitors and chips play an essential role in advanced hospital equipment, but an equally important facet is in surgical implants, thus significantly helping to grow the market share. Moreover, its growing demand in the chemical industry is also resulting in the usage of tantalum an alternative of stainless steel in the chemical industry to produce various inorganic acids, which is greatly extending the lifespan of the equipment compared to that of stainless steel.

In addition, as the tantalum capacitors offer excellent stability in harsh conditions, high energy and volumetric power efficiency, and low parametric shift with lifetime, which make them ideal in several applications for the fifth generation (5G) of telecommunications (telecom) equipment, which ultimately is leading to implementation in many countries and is anticipated to fuel the global market growth in the upcoming forecast period. Our report was recently cited by the Innovation News Network and please click here to read more on this.  

Key Developments

• In October 2022, Tantalex Lithium Resources was awarded a mining license for its TiTan project in the Manono region of the DR Congo. The company has been working to progress the project quickly. Already, the concentration plant has been tested in Manono and is ready for assembly on site. Production is scheduled to commence in March 2023, with output forecast at 120tpm tin concentrate and 20tpm tantalum concentrate.
• In July 2022, Shell & AMG Recycling B.V. partnered with the United Company for Industry (UCI) and announced the signing of an agreement with the Saudi Arabian Oil Company (Aramco) under which SARBV and UCI shall construct and operate a world-class Metals Reclamation Complex for the recovery and recycling of metals in Al-Jubail Industrial City, in Saudi Arabia.
• In February 2022, Presently, MINICOM SAS is held 25% by Tantalex Resources, 45% by MINOR SARL, and 30% by Cominiere SA, a state-owned entity. Following the exercise of the option by Tantalex to acquire an additional 27% of MINOCOM SAS, Tantalex will hold 52% of the shares of MINOCOM SAS and a Right of First Refusal for the 18% still owned by MINOR SARL. As per the agreement, Eric Allard, CEO of Tantalex Resources, will be appointed Managing Director of MINOCOM SAS.