Tantalum Market: By Product Form (Metal, Carbide, Powder, Alloys and Others), By Application (Capacitors, Semiconductors, Engine Turbine Blades, Chemical Processing Equipment, Medical Equipment and Others), and Geography  

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Tantalum Market demand 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 tantalum 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.  

Tantalum Market 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.

Global Tantalum Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

3.8%

Largest Market

Asia-Pacific

Fastest Growing Market

Asia-Pacific
Tantalum Market Dynamics

The tantalum market is gaining importance in the use of tantalum in lithium-ion battery production for electric vehicles, and similarly cobalt is the most expensive component used in lithium-ion battery cathodes, according to DOE. The consumption of batteries is predicted to expand significantly as more people switch to electric cars (EVs). For instance, according to EV volumes, overall electric vehicles reached a global share of 8.3% (including battery electric vehicles [BEVs] and Plug-in hybrid electric vehicles [PHEVs]) in 2021 from 4.2% in 2020 with 6.75 million vehicles on the road. This is an increase of 108% as of 2020. Further, The Indian EV market is also evolving fast, as close to 0.32 million vehicles were sold in 2021, up 168% YoY, according to IBEF. Hence, which is rapidly creating an utmost utilization of the tantalum in the manufacturing of lithium-ion batteries. Further, increase in mining activities to explore battery minerals, and recent innovations in lithium-ion batteries and electric vehicles are anticipated to fuel the growth of the global tantalum market. Eventually, tantalum is mostly used in alloys and electronic equipment, and at an altitude, it is used mainly in manufacturing industries, but the speed of growing production of raw materials seems to be low compared to the development of industrial sectors that need tantalum, and additionally due to the new innovations which allowed the production of smaller tantalum capacitors, resulted in reducing the tantalum content of the average capacitor. Alongside the electronic applications are getting more powerful, smaller, and of higher quality which is ultimately pushing to create a technological improvement in tantalum capacitors. Additionally, due to the ban in a few countries is also expected to hamper the growth of the global tantalum market.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018-2022), and forecast (2023-2029)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and startup's details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market

Global Tantalum Market Segmentation

By Product Form
  • Metal
  • Carbide
  • Powder
  • Alloys
  • Others
By Application
  • Capacitors
  • Semiconductors
  • Engine Turbine Blades
  • Chemical Processing Equipment
  • Medical Equipment
  • Others
By Geography
  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Asia
  • Latin America

Frequently Asked Questions

There are 34 processing plants, and 12 production plants in different countries namely, Australia, Bolivia, Brazil, Burundi, China, Congo (Kinshasa), Ethiopia, Mozambique, Nigeria, Russia, Rwanda, and Uganda in the global tantalum market.

Roll-out of 5G systems and electronic vehicles, reliability, and robustness of tantalum capacitors, and the increased usage of tantalum capacitors and lithium tantalate in the telecommunications market are some key trends in the market.

The Pentagon, the headquarters building of the United States Department of Defense, sets ban on tantalum purchase from Russia, Iran, China and North Korea.

The tantalum is mainly used by large international corporations: which include, Wireless Users: Sony Corporation, Nokia, Motorola, Inc and Panasonic Infrastructure Users: Cisco Systems and Nortel Network Corporations. Computer Hardware Users: Intel Corporation, Hewlett-Packard Company, IBM, Dell Computer Corporation, and Seagate Technology Inc.

Factors like increasing demand in the chemical sector, and growing tantalum use in semiconductors are the key opportunities for the growth of the global tantalum market.

The global demand for tantalum is 1,950.7 Tons in 2022 and is projected to grow at a CAGR of 3.8%

Capacitors and Semiconductors are the primary applications that require tantalum, accounting for over 60% of the global demand.

Democratic Republic of Congo (700 MT) and Brazil (470 MT) are the top countries in producing tantalum.

1. Executive Summary
2. Global Tantalum Market Introduction
2.1. Global Tantalum Market - Taxonomy
2.2. Global Tantalum Market -Definitions
2.2.1. Product Form
2.2.2. Application
2.2.3. By Region
3. Global Tantalum Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Tantalum Market Dynamic Factors - Impact Analysis
3.6. Global Tantalum Market - Competition Landscape
4. Global Tantalum Market, By Product Form, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
4.1. Metal
4.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
4.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
4.1.3. Market Opportunity Analysis
4.2. Carbide
4.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
4.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
4.2.3. Market Opportunity Analysis
4.3. Powder
4.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
4.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
4.3.3. Market Opportunity Analysis
4.4. Alloys
4.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
4.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
4.4.3. Market Opportunity Analysis
4.5. Others
4.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
4.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
4.5.3. Market Opportunity Analysis
5. Global Tantalum Market, By Application, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.1. Capacitors
5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Semiconductors
5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Engine Turbine Blades
5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Chemical Processing Equipment
5.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
5.5. Medical Equipment
5.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.5.3. Market Opportunity Analysis
5.6. Others
5.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
5.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.6.3. Market Opportunity Analysis
6. Global Tantalum Market Forecast, By Region, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.1. North America
6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Europe
6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Asia-Pacific
6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Latin America
6.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
6.5. Middle East and Africa
6.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.5.3. Market Opportunity Analysis
6.6. Global Tantalum Market - Opportunity Analysis Index, By Product Form, By Application, and Region, 2023-2029
7. North America Tantalum Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
7.1. Product Form Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
7.1.1. Metal
7.1.2. Carbide
7.1.3. Powder
7.1.4. Alloys
7.1.5. Others
7.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
7.2.1. Capacitors
7.2.2. Semiconductors
7.2.3. Engine Turbine Blades
7.2.4. Chemical Processing Equipment
7.2.5. Medical Equipment
7.2.6. Others
7.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
7.3.1. USA
7.3.2. Canada
7.4. North America Tantalum Market - Opportunity Analysis Index, By Product Form, By Application, and Country, 2023-2029
7.5. North America Tantalum Market Dynamics - Trends
8. Europe Tantalum Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
8.1. Product Form Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.1.1. Metal
8.1.2. Carbide
8.1.3. Powder
8.1.4. Alloys
8.1.5. Others
8.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.2.1. Capacitors
8.2.2. Semiconductors
8.2.3. Engine Turbine Blades
8.2.4. Chemical Processing Equipment
8.2.5. Medical Equipment
8.2.6. Others
8.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
8.3.1. Germany
8.3.2. Austria
8.3.3. Italy
8.3.4. France
8.3.5. Norway
8.3.6. Russian Federation
8.3.7. Netherlands
8.3.8. Rest of Europe
8.4. Europe Tantalum Market - Opportunity Analysis Index, By Product Form, By Application, and Country, 2023-2029
8.5. Europe Tantalum Market Dynamics - Trends
9. Asia-Pacific Tantalum Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
9.1. Product Form Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Metal
9.1.2. Carbide
9.1.3. Powder
9.1.4. Alloys
9.1.5. Others
9.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Capacitors
9.2.2. Semiconductors
9.2.3. Engine Turbine Blades
9.2.4. Chemical Processing Equipment
9.2.5. Medical Equipment
9.2.6. Others
9.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.3.1. China
9.3.2. India
9.3.3. Japan
9.3.4. South Korea
9.3.5. Taiwan
9.3.6. Rest of APAC
9.4. Asia-Pacific Tantalum Market - Opportunity Analysis Index, By Product Form, By Application, and Country, 2023-2029
9.5. Asia-Pacific Tantalum Market Dynamics - Trends
10. Latin America Tantalum Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
10.1. Product Form Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Metal
10.1.2. Carbide
10.1.3. Powder
10.1.4. Alloys
10.1.5. Others
10.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Capacitors
10.2.2. Semiconductors
10.2.3. Engine Turbine Blades
10.2.4. Chemical Processing Equipment
10.2.5. Medical Equipment
10.2.6. Others
10.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.3.1. Brazil
10.3.2. Mexico
10.3.3. Argentina
10.3.4. Rest of Latin America
10.4. Latin America Tantalum Market - Opportunity Analysis Index, By Product Form, By Application, and Country, 2023-2029
10.5. Latin America Tantalum Market Dynamics - Trends
11. Middle East and Africa Tantalum Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
11.1. Product Form Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Metal
11.1.2. Carbide
11.1.3. Powder
11.1.4. Alloys
11.1.5. Others
11.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Capacitors
11.2.2. Semiconductors
11.2.3. Engine Turbine Blades
11.2.4. Chemical Processing Equipment
11.2.5. Medical Equipment
11.2.6. Others
11.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.3.1. GCC Countries
11.3.2. South Africa
11.3.3. Rest of MEA
11.4. MEA Tantalum Market- Opportunity Analysis Index, By Product Form, By Application, and Country, 2023-2029
11.5. MEA Tantalum Market Dynamics - Trends
12. Competition Landscape
12.1. Strategic Dashboard of Top Market Players
12.2. Company Profiles (Introduction, Financial Analysis, Key Product Forms, Key Developments, Strategies, and SWOT Analysis)
12.2.1. Global Advanced Metals Pty Ltd.
12.2.2. AMG Advanced Metallurgical Group
12.2.3. Pilbara Minerals
12.2.4. Minsur
12.2.5. Tantalex Lithium Resources
12.2.6. Inframat® Advanced Materials TM LLC
12.2.7. U.S. Titanium Industry Inc
12.2.8. Metallurgical products India Pvt. Ltd.
12.2.9. H.C. Starck
12.2.10. Ningxia Orient Tantalum Industry Co. Ltd.
13. Research Methodology
14. Key Assumptions and Acronyms
  • Global Advanced Metals Pty Ltd.
  • AMG Advanced Metallurgical Group
  • Pilbara Minerals
  • MINSUR
  • Tantalex Lithium Resources
  • Inframat Advanced Materials TM LLC
  • US. Titanium Industry Inc
  • Metallurgical products India Pvt. Ltd.
  • C. Starck
  • Ningxia Orient Tantalum Industry Co. Ltd.

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