Authored By: Sarah
11 Jul 2024

 Tellurium Market Size to grow by USD 315 million between 2024-2028

According to a research report “ Tellurium Market” by Type (Pure tellurium, Telluride) Application (Solar panels, Thermoelectric production, Metallurgy, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 315 million, at a CAGR of  9.84% during the forecast period. Tellurium alloys hold significant importance in the consumer electronics industry due to their application in various products such as mobile phones, LED displays and projectors, wearable devices, gaskets, lighting, and rollers. The global consumer electronics market is experiencing robust growth, driven by factors including an expanding urban population, rising disposable income levels, a strong supply chain, and high internet penetration. APAC is the leading region in terms of tellurium market share, given its substantial production and consumption of consumer electronics. In particular, the demand for electronic goods and systems in India is projected to reach USD155 billion by 2023, contributing significantly to the global tellurium market expansion.

Browse market data tables, figures, and in-depth TOC on “Tellurium Market” by Type (Pure tellurium, Telluride) Application (Solar panels, Thermoelectric production, Metallurgy, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Type, the Pure tellurium segment is projected to dominate the market size in 2024

Tellurium plays a crucial role in the production of solar photovoltaic (PV) cells, specifically in the formation of cadmium-tellurium (CdTe) compounds. These compounds exhibit enhanced electrical conductivity, which is essential for the production of CdTe thin films used in solar PV technology. Solar PV is a renewable energy source that offers significant advantages, including cost-effective electricity generation and reduced CO2 emissions. Despite geopolitical uncertainties and changing energy policies in key markets such as China, India, and the US, solar PV has shown remarkable competitiveness in recent years. According to the International Energy Agency (IEA), solar PV experienced the largest absolute generation growth among all renewable technologies in 2023, increasing by approximately 51% compared to 2022, or around 32 GW. This growth underscores the importance of tellurium in the solar energy sector and its potential to contribute to a more sustainable and cost-effective energy future.

By Application, Solar panels  segment is expected to hold the largest market size for the year 2024

Tellurium, with the atomic number 52 and symbol Te, is a precious metalloid characterized by its fragile, silver-white appearance. Naturally occurring tellurium assumes the form of a dark grey powder, exhibiting both metallic and non-metallic properties. Notably, tellurium forms compounds similar to those of sulfur and selenium. When burnt in air, it generates tellurium dioxide, resulting in a unique greenish-blue flame. While it remains unaltered by water and hydrochloric acid, nitric acid induces its disintegration. In the realm of technology, tellurium plays a pivotal role in solar cells and semiconductor devices production.

North America is forecasted to hold the largest market size by region in 2024

As a seasoned business analyst, I'm pleased to provide insights into the Tellurium market. This essential mineral is in high demand due to its application in various industries, including semiconductors and solar panels. The global Tellurium market is projected to grow significantly in the coming years, driven by increasing demand for renewable energy and technological advancements. Companies are investing heavily in Tellurium production to meet this demand and capitalize on the market's potential growth opportunities.

The Tellurium Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 5N PLUS Ltd.
  • Aurubis AG
  • Boliden AB
  • II VI Inc.
  • Kisan Kinzoku Chemicals Co. Ltd
  • Pan Pacific Copper Co. Ltd.
  • PJSC MMC Norilsk Nickel
  • Rio Tinto Ltd.
  • Sino Santech Materials Technology Co. Ltd.
  • Shinko Chemical Co. Ltd.
  • Umicore SA
  • UMMC Holding Corp.
.

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Research Analysis Overview

Tellurium is a semi-metal element with unique properties, making it an essential component in various industries, including electronics and semiconductors. Umicore, a leading global materials technology and recycling group, is a significant player in the Tellurium market. The demand for Tellurium is driven by its use in semiconductors and alloys, particularly in CdTe solar cells for renewable energy applications. The dominance of Tellurium in solar technology is due to its high thermoelectric efficiency, making it an ideal material for power generation from waste heat and electricity production. In the electronics industry, Tellurium is used as an alloying agent in copper and steel, enhancing their machinability and electrical conductivity. However, the Tellurium market faces supply chain constraints due to its limited availability and the complex process of extracting it from ores. Pure Tellurium is produced through a chemical process, which involves the reduction of Tellurium oxides. The metalloid element is also used in data storage and thermoelectric materials, further expanding its applications. In summary, Tellurium is a valuable metalloid element with a wide range of applications in electronics, semiconductors, renewable energy, and metallurgy. Umicore's role in the Tellurium market is significant due to its expertise in the production and recycling of this essential element. The renewable energy demand and the increasing focus on sustainable power generation are expected to drive the growth of the Tellurium market in the coming years.

Market Research Overview

Tellurium is a precious semi-metal element with unique properties, making it an essential component in various industries, particularly in the utilization of sustainable energy and next-generation electronics. Sourcing and Tellurium extraction have been a challenge due to its limited availability and toxic byproducts. However, advancements in metallurgy and chemical processes have improved worker safety and reduced environmental impacts. Tellurium's dominance in the renewable energy sector lies in its use in Tellurium-based compounds, such as cadmium telluride (CdTe), which is a key component in thin-film solar panels and photovoltaic cell manufacturing. The renewable energy demand for Tellurium continues to grow as the world transitions to clean energy technologies, reducing carbon emissions. Umicore, a leading global materials technology and recycling group, is one of the major Tellurium producers, focusing on sustainable and responsible sourcing. The supply chain constraints have led to the exploration of alternative alloys and semi-metal elements, such as copper and steel, as alloying agents. Tellurium's strength, machinability, and thermoelectric properties make it an ideal material for various applications, including solar technology, electronics and semiconductors, and optoelectronic devices. Its efficiency in converting waste heat into electricity and its role in energy-efficient solutions have made it a valuable asset in the automotive industry and data storage. Despite its importance, the Tellurium market faces challenges, including supply chain disruptions and the need for sustainable and responsible sourcing. The future of Tellurium lies in its continued role in the renewable energy sector, particularly in the manufacturing of solar cells, thermoelectric materials, and phase-change memory devices. The potential for efficiency improvements and new applications in thermoelectric applications will further solidify Tellurium's position as a critical element in the sustainable energy transition.

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