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Tantalum Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 5318511
  • Report
  • April 2021
  • Region: Global
  • 130 pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Minsur
  • Pilbara Minerals Ltd
  • Piran Resources Limited
  • Tantalex Resources Corp.
  • MORE
The tantalum market was valued at around 2.3 kiloton in 2020, and the market is projected to register a CAGR of 6% during the forecast period (2021-2026).

COVID-19 has halted the growth of several metal markets all around the world. With the restrictions around the world and mining activities halted in almost every major region, the production and trade of tantalum were adversely affected. Thus, manufacturers were facing continued downward pressure on demand and revenues due to the COVID-19 pandemic. Additionally, the impact of COVID-19 on supply chains has also delayed the implementation of 5G on a short-term basis. However, some of the key players are mainly focusing on research and development to provide innovative products to introduce to the market, thus, boosting the market studied.
  • Over the short term, major factors driving the market studied are the growth from the electrical and electronic industry and extensive usage of tantalum alloys in aviation and gas turbines.
  • Replacement of solid capacitors with polymer tantalum capacitors is likely to act as an opportunity in the future. In the short term, as 5G is rapidly growing, the need for tantalum increases.
  • However, the detrimental effect of tantalum powder is expected to hinder the growth of the market studied.
  • The capacitor's application segment dominated the market with major shares of the total tantalum consumed are used as powder and wire to make capacitors in the electronics industry.
  • Asia-Pacific dominated the market across the world, with the largest consumption from the countries, such as China and South Korea.
Key Market Trends

Capacitors to Dominate the Market
  • The primary application of tantalum is found in capacitors for consumer electronics. Here, it faces competition from aluminum, niobium, and multi-layer ceramics.
  • Tantalum is highly conductive of heat and electricity, and this property has made it the material of choice for electronic capacitors. In addition, the ability of tantalum to form an extremely thin oxide coating that acts as a protection layer makes its involvement inevitable in the production of small, high-quality capacitors. Wire and powder are the most used forms of tantalum. These are engaged in the production of capacitors.
  • Tantalum capacitors have the highest capacitance per unit volume of any capacitor and are used extensively in miniaturized electrical circuitry. As the market moves to greater miniaturization, the tantalum capacitor finds increased application in space-sensitive and high-end applications in telecommunications, data storage, and implantable medical devices.
  • The use of tantalum capacitors with polymer cathode systems continues in many industry segments. Intrinsically conductive polymers, such as PPY (Polypyrrole) and PEDOT (poly(3,4-ethylene dioxythiophene)), have become the polymer material sets of choice for tantalum capacitors. Adoption of this technology began within the consumer electronics market, with rapid adoption in notebook and desktop computer applications.
  • During the past decade, polymer tantalum capacitors have gained popularity in medical, avionic, and military designs. Today, manufacturers of polymer tantalum capacitors have set their sights on the automotive industry as the next area of growth.
  • This recent application stages a new opportunity for the global tantalum market in the forecast period.
Asia-Pacific to Dominate the Market
  • Asia-Pacific had the highest share in the global market in 2020. The region is primarily driven by the increase in the demand from end-user industries, including electronics, aerospace, and medical equipment.
  • China is the largest consumer of tantalum in Asia-Pacific. The Chinese tantalum market is highly competitive. Capacitors and high-end military applications are the key consumption areas for tantalum in the country.
  • China has vigorously advocated localization of high-end military products and reduced dependence on imported products for strategic security and cost control considerations, providing a favorable environment policy and superiority for the domestic military tantalum capacitor industry.
  • In the domestic market, there is no significant market access difference between international manufacturers and domestic manufacturers. The international tantalum capacitor manufacturers, represented by American Vishay, KEMET, and AVX, have mastered and accumulated the core technologies and key materials of tantalum capacitors. The imported industrial-grade tantalum capacitor products used in some projects are likely to be replaced by domestic tantalum capacitor products. The market share of domestic tantalum capacitors is expected to continue rising in the next three to five years.
  • In India, the National Policy on Electronics 2019 aims to promote domestic manufacturing and export in the entire value-chain of Electronics System Design and Manufacturing (ESDM) to achieve a turnover of INR 26 trillion (USD 400 billion) by 2025.
  • Electronics hardware production in India increased from USD 65.53 billion in FY19 to around USD 73.78 billion in FY20.
  • The Government of India has taken several steps for the promotion of the domestic electronics manufacturing industry and exports from the country. For instance, the Modified Special Incentive Package Scheme (M-SIPS) provides a 20-25% subsidy for investments in capital expenditure for setting up an electronics manufacturing facility. So far, 212 projects have been approved with proposed investments of INR 551.82 billion.
  • This boom in electronic products in the country is quite instrumental in propelling the demand in the market studied in the electronic industry over the forecast period.
  • Additionally, policies (like 100% FDI in the electronics hardware manufacturing sector), and initiatives (like modified, special incentive package scheme (M-SIPS), which may provide a capital expenditure subsidy of 20-25%, ‘Make In India’ initiative, and budgetary support of USD 110 million by the India Energy Storage Alliance (IESA) to support local electronics manufacturing) are expected to significantly boost the consumer electronics market. Thus, this may drive the tantalum market in India during the forecast period.
  • The recent COVID-19 outbreak is expected to have an impact on the growth of the various end-user industries (excluding the pharmaceutical industry) in the short term. However, the impact is temporary, and the tantalum market is anticipated to show considerable growth during the forecast period.
Competitive Landscape

The tantalum market is partially fragmented in nature, in terms of tantalum mining companies. The major companies include Global Advanced Metals Pty Ltd, AMG Advanced Metallurgical Group, Pilbara Minerals, Ningxia Orient Tantalum Industry Co. Ltd, and Alliance Mineral Assets Limited.

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Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Minsur
  • Pilbara Minerals Ltd
  • Piran Resources Limited
  • Tantalex Resources Corp.
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from the Electrical and Electronics Industry
4.1.2 Extensive Usage of Tantalum Alloys in Aviation and Gas Turbines
4.2 Restraints
4.2.1 Detrimental Effect of Tantalum Powder
4.2.2 Unfavorable Conditions Arising Due to the Impact of COVID-19
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Trade Analysis
4.6 Technological Snapshot
4.7 Price Index
4.8 Regulatory Policy Analysis

5 MARKET SEGMENTATION
5.1 Product
5.1.1 Metal
5.1.2 Carbide
5.1.3 Powder
5.1.4 Alloys
5.1.5 Other Product Forms
5.2 Application
5.2.1 Capacitors
5.2.2 Semiconductors
5.2.3 Engine Turbine Blades
5.2.4 Chemical Processing Equipment
5.2.5 Medical Equipment
5.2.6 Other Applications (including Ballistics, Cutting Tools, and Optical Applications)
5.3 Geography
5.3.1 Production Analysis
5.3.1.1 United States
5.3.1.2 Australia
5.3.1.3 Brazil
5.3.1.4 China
5.3.1.5 Congo
5.3.1.6 Ethiopia
5.3.1.7 Nigeria
5.3.1.8 Rwanda
5.3.1.9 Other Countries
5.3.2 Consumption Analysis
5.3.2.1 Asia-Pacific
5.3.2.1.1 China
5.3.2.1.2 India
5.3.2.1.3 Japan
5.3.2.1.4 South Korea
5.3.2.1.5 Rest of Asia-Pacific
5.3.2.2 North America
5.3.2.2.1 United States
5.3.2.2.2 Canada
5.3.2.2.3 Mexico
5.3.2.3 Europe
5.3.2.3.1 Germany
5.3.2.3.2 United Kingdom
5.3.2.3.3 Italy
5.3.2.3.4 France
5.3.2.3.5 Rest of Europe
5.3.2.4 South America
5.3.2.4.1 Brazil
5.3.2.4.2 Argentina
5.3.2.4.3 Rest of South America
5.3.2.5 Middle-East and Africa
5.3.2.5.1 Saudi Arabia
5.3.2.5.2 South Africa
5.3.2.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Advanced Metallurgical Group
6.4.2 Alliance Mineral Assets Limited
6.4.3 China Minmetals Corporation
6.4.4 Ethiopian Mineral Development Share Company
6.4.5 Eurotrade International SA
6.4.6 Global Advanced Metals Pty Ltd
6.4.7 Jiangxi Tungsten Holding Group Co. Ltd (China)
6.4.8 Minsur
6.4.9 Ningxia Orient Tantalum Industry Co. Ltd (PROCESSING COMPANY)
6.4.10 Pilbara Minerals Ltd
6.4.11 Piran Resources Limited
6.4.12 Tantalex Resources Corp.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Replacement of Solid Capacitors with Polymer Tantalum Capacitors
7.2 Other Opportunities
Note: Product cover images may vary from those shown
  • Advanced Metallurgical Group
  • Alliance Mineral Assets Limited
  • China Minmetals Corporation
  • Ethiopian Mineral Development Share Company
  • Eurotrade International SA
  • Global Advanced Metals Pty Ltd
  • Jiangxi Tungsten Holding Group Co. Ltd (China)
  • Minsur
  • Ningxia Orient Tantalum Industry Co. Ltd (PROCESSING COMPANY)
  • Pilbara Minerals Ltd
  • Piran Resources Limited
  • Tantalex Resources Corp.
Note: Product cover images may vary from those shown

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