The Tellurium Market is being driven by Increased demand from consumer electronics industry
The Tellurium Market is expected to grow at a CAGR of 9.84% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 315 million. Green bonds represent a significant financing instrument for sustainable investments, with proceeds earmarked exclusively for environmentally-friendly projects and certified as such by issuing entities. In July 2022, the Korean Development Bank issued a USD300 million green corporate bond for renewable energy projects, underscoring the growing interest of financial institutions in this sector. This trend boosts demand for tellurium, a crucial component in solar photovoltaic (PV) panels, by fueling increased investments in solar capacity expansion. Green bonds offer the advantage of easy liquidity and broad market appeal, enabling companies to access a larger investor base and potentially lower their cost of capital. This dynamic is anticipated to drive the expansion of the global tellurium market within the solar energy sector throughout the forecast period.
Get more information on Tellurium Market by requesting a sample report
The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
170 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 9.84% |
|
Market growth 2024-2028 |
USD 315 million |
|
Market structure |
concentration |
|
YoY growth 2023-2024(%) |
8.73 |
|
Key countries |
China, US, Japan, Sweden, and Canada |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
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.
The global diversified metals and mining market encompasses businesses involved in the production and extraction of a range of metals and minerals, including non-ferrous metals such as lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium, as well as salt, borate, phosphate rock, and various alloys. According to Technavio, the market size is determined by the consolidated revenue generated by these companies from their metal and mineral extraction activities and diversified mining operations. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
