USD 550 million
Tellurium Market Size, Share, Growth Analysis, By Type(Pure Tellurium, Telluride), By Application(Chemical, Electronics, Solar Energy, Metallurgy), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45K2086 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
93
|Figures:
81
Tellurium Market Insights
Global Tellurium Market size was valued at USD 550 million in 2022 and is poised to grow from USD 4580.25 million in 2023 to USD 890.50 billion by 2031, growing at a CAGR of 5.50% during the forecast period (2024-2031).
The Global Tellurium Market has witnessed notable growth in recent years due to its increasing applications in various industries, including electronics, metallurgy, solar technology, and thermoelectric materials. Tellurium, a rare and brittle metalloid element, is primarily used as an alloying agent to enhance the properties of metals like steel and copper, improving their machinability and strength. Additionally, tellurium finds extensive use in the production of cadmium telluride (CdTe) thin-film solar cells, contributing to the renewable energy sector. The electronics industry relies on tellurium for its use in phase-change memory devices, which offer faster data storage and retrieval capabilities. Moreover, tellurium's thermoelectric properties enable it to convert waste heat into electricity, driving demand for its utilization in thermoelectric materials for applications in automotive and power generation. As solar energy gains prominence, the demand for tellurium is expected to remain robust due to its integral role in CdTe solar cells, which are efficient and cost-effective. However, the supply of tellurium is limited, primarily sourced as a byproduct of copper and lead refining, which can lead to supply chain constraints.
US Tellurium Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Pure Tellurium
Fastest Growth
Pure Tellurium
Growth Rate
5.50% CAGR
Global Tellurium Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Tellurium Market Segmental Analysis
Global Tellurium Market is segmented by Type, Application, and region. Based on Type, the market can be segmented into Pure Tellurium, Telluride. Based on Application, the market is segmented into Chemical, Electronics, Solar Energy, Metallurgy, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Tellurium Market Analysis By Product Type
The global tellurium market is primarily categorized into two main product types: Pure Tellurium and Telluride. Among these segments, Pure Tellurium currently holds dominance in the market due to its widespread applications across various industries. Pure Tellurium, a semi-metal element, finds usage in the production of alloys, semiconductors, and photovoltaic solar cells. Its properties make it a crucial component in enhancing the efficiency of renewable energy technologies.
On the other hand, the fastest growing segment is Telluride. Telluride compounds, due to their unique properties, are increasingly being utilized in thermoelectric applications, which involves converting heat energy into electrical energy. This application is gaining traction in industries aiming for energy efficiency improvements, such as automotive and electronics. As the demand for energy-efficient solutions continues to rise, the Telluride segment is expected to witness rapid growth, driven by its role in advancing thermoelectric technology.
Tellurium Market Analysis By Application
Electronics is the dominant segment in the Global Tellurium Market in 2022. The dominance of the Electronics application segment is driven by the increasing demand for tellurium in the production of various electronic components, including semiconductors, thermoelectric devices, and optoelectronic devices. Tellurium is utilized in these applications due to its unique properties, such as its ability to enhance the efficiency of certain electronic components and its use in phase change memory technologies.
On the other hand, the Solar Energy application segment is the fastest growing segment and is experiencing rapid growth due to the expansion of the solar power industry. Tellurium is a crucial component in thin-film solar panels, where it is used in combination with other elements like cadmium to create cadmium telluride (CdTe) solar cells. CdTe solar cells are gaining popularity due to their cost-effectiveness and high efficiency in converting sunlight into electricity, contributing to the growth of the solar energy sector.
Global Tellurium Market By Product type
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Tellurium Market Regional Insights
The global Tellurium Market Market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia Pacific is often considered the dominant region in the global Tellurium Market. The APAC region, particularly countries like China and Japan, holds a strong grip on the tellurium market. China, with its robust industrial base and high demand for electronics, is a major consumer of tellurium for manufacturing semiconductors and photovoltaic cells. Moreover, the region's increasing focus on renewable energy sources further boosts demand for tellurium in solar panel production. The presence of key tellurium-producing mines in China contributes to its dominance in the market.
On the other hand, North America, especially the United States, is positioned as the fastest-growing tellurium market. The region's emphasis on clean energy technologies and advancements in photovoltaic cell manufacturing drive the demand for tellurium. The growth is also fueled by the development of next-gen electronics and increasing use of tellurium-based compounds in these industries. Government incentives and initiatives to promote renewable energy contribute to the rising demand for tellurium in North America.
Global Tellurium Market By Geography
- Largest
- Fastest
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Tellurium Market Dynamics
Tellurium Market Drivers
Renewable Energy Demand:
- Tellurium is a crucial component in manufacturing thin-film solar cells, a type of photovoltaic technology. The increasing global demand for renewable energy sources has led to a growing demand for thin-film solar cells, which in turn drives the demand for tellurium. As governments and industries focus on reducing carbon emissions and transitioning to sustainable energy, the demand for tellurium is likely to rise.
Electronics and Semiconductors:
- Tellurium is used in the production of various electronics and semiconductor devices, including phase change memory (PCM) devices, which offer faster data transfer rates and lower power consumption. As technology continues to advance, there's an increasing need for more efficient and high-performance electronic components, creating a demand for tellurium in these applications.
Tellurium Market Restraints
Limited Availability:
- Tellurium is considered a rare element in the Earth's crust, making its availability limited. It is often produced as a byproduct of copper and lead refining. This scarcity can lead to supply chain disruptions and price volatility in the market, affecting industries dependent on tellurium.
Environmental and Health Concerns:
- Mining and refining tellurium can have negative environmental impacts due to the release of toxic byproducts. Additionally, exposure to tellurium compounds can be harmful to human health. Stricter regulations regarding environmental protection and worker safety can increase operational costs and pose challenges to tellurium production.
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Tellurium Market Competitive Landscape
The global tellurium market's competitive landscape is characterized by a few prominent players dominating the industry. Companies like Teck Resources Limited, and Umicore are key players in the market, focusing on tellurium extraction, production, and distribution. These companies have established strong supply chains and partnerships with end-users in industries such as electronics, solar energy, and metallurgy. The market's growth is propelled by the rising demand for tellurium in photovoltaic applications due to its use in cadmium telluride solar cells. Additionally, advancements in electronics and the growing need for efficient thermoelectric materials have further bolstered the market. However, the tellurium market faces challenges related to supply chain disruptions and geopolitical factors, as tellurium is often a byproduct of copper and other metal extraction. As the renewable energy sector expands, competition and innovation in tellurium sourcing and utilization are expected to intensify.
Tellurium Market Top Player’s Company Profile
- Teck Resources Limited - Canada
- Norilsk Nickel - Russia
- Freeport-McMoRan Inc. - United States
- Sumitomo Metal Mining Co., Ltd. - Japan
- Glencore plc - Switzerland
- Boliden Group - Sweden
- First Quantum Minerals Ltd. - Canada
- Doe Run Company - United States
- Telson Mining Corporation - Canada
- Dowa Holdings Co., Ltd. - Japan
- Aurubis AG - Germany
- Nyrstar - Switzerland
- Korea Zinc Co., Ltd. - South Korea
- Kazatomprom - Kazakhstan
- Zhuzhou Keneng New Material Co., Ltd. - China
- China Molybdenum Co., Ltd. - China
- Trevali Mining Corporation - Canada
- Yunnan Tin Company Group Limited - China
- Penoles - Mexico
- Hindustan Zinc Limited - India
- Pobugsky Ferronickel Plant - Ukraine
- Vital Materials Co., Ltd. - China
- Solaris Resources Inc. - Canada
- Almonty Industries Inc. – Canada
Tellurium Market Recent Developments
- In January 2023, Umicore announced that it had signed a long-term supply agreement with a major solar cell manufacturer. The agreement will ensure a stable supply of tellurium for the solar cell industry.
- In February 2023, 5N Plus announced that it had opened a new tellurium production plant in China. The plant is expected to increase the company's tellurium production capacity by 50%.
- In March 2023, II-VI Incorporated announced that it had acquired a tellurium production facility from a major mining company. The acquisition will increase the company's tellurium production capacity by 20%.
- In April 2023, China Minmetals Corporation announced that it would invest USD 100 million in a new tellurium production plant in China. The plant is expected to start production in 2024.
- In May 2023, ESPI Metals announced that it had signed a joint development agreement with a major solar cell manufacturer to develop new tellurium-based solar cell technologies. The agreement is expected to lead to the development of more efficient and cost-effective solar cells.
- In June 2023, the United States Department of Energy announced that it would invest USD 10 million in a research project to develop new tellurium-based materials for energy storage applications.
Tellurium Key Market Trends
- Rising Demand in Solar Energy Applications: Tellurium is a crucial component in the production of thin-film photovoltaic solar cells. As the demand for renewable energy sources increases, the solar energy sector has gained significant traction. Tellurium's unique properties, such as high photoelectric efficiency, make it valuable for converting sunlight into electricity. With the push for sustainable energy solutions, the demand for tellurium in solar applications is expected to rise, impacting the market's growth trajectory.
- Technological Advancements in Electronics: Tellurium is also used in various electronics applications, including phase-change memory devices and thermoelectric materials. The demand for more efficient and compact electronic devices continues to drive innovation in the electronics industry. Tellurium's role in improving the performance and efficiency of these devices has led to increased research and development efforts focused on utilizing tellurium-based materials. As technology advances, the demand for tellurium in electronics is likely to grow, influencing market dynamics.
Tellurium Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Tellurium Market analysis, the market has witnessed notable growth due to its increasing applications in various industries such as electronics, solar energy, and metallurgy. Tellurium, a rare and brittle metalloid element, is a crucial component in the production of cadmium telluride (CdTe) thin-film solar panels, which are gaining popularity due to their efficiency and cost-effectiveness. The escalating demand for renewable energy sources has bolstered Tellurium's role in the photovoltaic sector. Moreover, tellurium finds application in the electronics industry as a key ingredient in the production of phase change memory devices and rewritable optical discs. Its unique properties, such as high electrical conductivity in specific conditions, make it valuable for advanced electronics. However, the tellurium market is susceptible to supply constraints as it is primarily produced as a byproduct of copper and lead refining processes. Fluctuations in base metal mining and refining can impact tellurium availability and pricing. Additionally, environmental concerns and regulatory challenges in mining regions can affect supply dynamics. The market's growth potential is also linked to technological advancements and research focused on improving tellurium recovery methods, recycling techniques, and exploring alternative materials for its various applications. In conclusion, the global tellurium market is likely to continue expanding, driven by its vital role in renewable energy and electronics, but its growth trajectory could be influenced by supply chain dynamics and ongoing research efforts.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 550 million |
| Market size value in 2031 | USD 890.50 billion |
| Growth Rate | 5.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Tellurium Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Tellurium Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Tellurium Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Tellurium Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Tellurium Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Tellurium Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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