Tellurium Market to Expand by USD 315 Million from 2024-2028, Driven by Rising Demand in Consumer Electronics, AI’s Impact on Market Dynamics – Technavio Report

NEW YORK, Aug. 27, 2024 /PRNewswire/ — The global tellurium market  size is estimated to grow by USD 315 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.84%  during the forecast period.  Increased demand from consumer electronics industry is driving market growth, with a trend towards green bonds fueling demand for tellurium. However, stringent environmental and safety regulations on tellurium  poses a challenge. Key market players include 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, and UMMC Holding Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Key Market Trends Fueling Growth

Green bonds, which are used for investments in environmentally-friendly projects and certified as such by issuing authorities, have gained traction among banks. For instance, the Korean Development Bank issued a USD300 million green corporate bond for renewable energy projects in July 2022. These bonds contribute to the demand for tellurium by funding the installation of solar photovoltaic (PV) systems. The liquid nature of green bonds makes them an attractive investment option for companies, enabling entry into the broader investor base and reducing their cost of capital. This trend is expected to fuel the growth of the global tellurium market in the solar energy industry during the forecast period. 

Tellurium, a metalloid element, is gaining attention in the energy and tech industries due to its role in energy-efficient solutions. In solar technology, tellurium is used as an alloying agent in cadmium telluride (CdTe) for manufacturing thin-film solar cells, contributing to sustainable energy production. In next-gen electronics, tellurium-based compounds are utilized in phase-change memory devices and data storage. However, challenges persist. Supply chain disruptions and environmental impacts, including toxic byproducts and worker safety concerns, are pressing issues in tellurium extraction. The metallurgy industry is advancing to address these concerns, exploring more sustainable and efficient methods for sourcing and utilization. Tellurium’s use in alloys, such as steel and copper, also offers benefits in machinability and strength. Overall, tellurium’s role in clean energy technologies and next-gen electronics makes it a crucial component in the shift towards carbon emissions reduction. 

Discover a Comprehensive 360° Market Analysis: Understand the Impact of AI. For detailed information- Request Sample!

Market Challenges

Tellurium is a radioactive metalloid with cyanogenic properties that can negatively impact human health and the environment. Exposure to tellurium through air, water, or food can lead to respiratory issues, such as lung impairment and hard metal disease, as well as carcinogenic health concerns. Continuous exposure to tellurium at a concentration of 0.01 mg/m2 can cause tellurium breath, dry mouth, headache, nausea, and drowsiness. Tellurium can also pose fire hazards and emit toxic fumes when heated. To protect public health and the environment, federal regulations limit the permissible levels of tellurium in air, water, and food. Strict environmental and safety regulations will likely restrict demand for tellurium during the forecast period.Tellurium is a metalloid element with significant applications in electronics, metallurgy, and solar technology. In electronics, it is used as an alloying agent in steel and copper for improved machinability and strength. In solar technology, Tellurium is a crucial component of cadmium telluride (CdTe) used in thin-film solar cells. In thermoelectric materials, Tellurium’s unique properties make it ideal for use in phase-change memory devices and data storage with excellent retrieval capabilities. The demand for Tellurium is driven by the renewable energy sector, particularly in solar energy and power generation. The use of Tellurium in CdTe solar cells is essential for converting sunlight into electricity. However, the limited availability of Tellurium poses challenges for the industry. Umicore is one of the leading suppliers of Tellurium and its compounds, but supply chain constraints can impact production. Tellurium’s dominance in semiconductors and photovoltaic solar cells is due to its high efficiency in thermoelectric applications, energy efficiency improvements, and thermoelectric devices. Its use in optoelectronic devices and thin-film solar panels is also increasing. Despite its importance, Tellurium’s limited availability and high production costs remain significant challenges for the industry.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This tellurium market report extensively covers market segmentation by

Type 1.1 Pure tellurium1.2 TellurideApplication 2.1 Solar panels2.2 Thermoelectric production2.3 Metallurgy2.4 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Pure tellurium-  Tellurium, represented by the chemical symbol Te and having an atomic number of 52, is a fragile, silver-white metalloid. It is naturally found as a dark grey powder with both metallic and non-metallic properties. Tellurium forms numerous compounds similar to those of sulfur and selenium. When burnt in air, it produces tellurium dioxide, resulting in a greenish-blue flame. While water and hydrochloric acid do not affect tellurium, nitric acid causes it to disintegrate. The demand for tellurium is increasing due to its applications in semiconductors and solar cells. As a result, the market for tellurium is projected to expand significantly over the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

Tellurium is a metalloid element with unique properties, making it an essential component in various industries, including electronics, metallurgy, and renewable energy. In metallurgy, Tellurium functions as an alloying agent, enhancing the strength and machinability of steel and copper. In electronics and semiconductors, it plays a crucial role in the production of thermoelectric materials, which convert waste heat into electricity. Tellurium is also a vital ingredient in CdTe solar cells, contributing to the dominance of this technology in solar energy. The demand for Tellurium is driven by the renewable energy sector and the electronics industry, leading to supply chain constraints. Pure Tellurium and its compounds, such as Telluride, are used in chemical processes and the automotive industry. The semi-metal element’s versatility in alloys and semiconductors makes it an indispensable component in data storage and retrieval capabilities. The future of Tellurium lies in its potential to revolutionize power generation and solar energy, offering a sustainable solution to meet the world’s increasing energy demands. Umicore, a leading global materials technology and recycling group, is a significant player in the Tellurium market, contributing to its production and application in various industries.

Market Research Overview

Tellurium is a metalloid element with unique properties, making it an essential component in various industries, including electronics, metallurgy, and solar technology. As a key element in alloying agents for steel and copper, Tellurium enhances machinability and strength. In solar technology, Tellurium is a dominating element in thermoelectric materials, used in the production of cadmium telluride (CdTe) for thin-film solar cells and phase-change memory devices in data storage. Tellurium’s role in solar energy is significant, with CdTe solar cells being a popular choice due to their efficiency and energy efficiency improvements. However, the supply chain for Tellurium is limited, leading to constraints in the renewable energy sector. Pure Tellurium and its compounds, such as Telluride, are used in various applications, including semiconductors, photovoltaic solar cells, and thermoelectric devices. The demand for Tellurium is driven by the renewable energy sector, particularly in solar energy, as well as in next-gen electronics and clean energy technologies. However, the extraction of Tellurium comes with challenges, including environmental impacts, toxic byproducts, and worker safety concerns. Advancements in metal extraction and sourcing are essential to meet the growing demand while minimizing these issues. Tellurium’s role in energy efficiency and sustainable energy solutions is significant, with potential applications in waste heat recovery, automotive power generation, and optoelectronic devices. Despite its importance, the limited availability and supply chain disruptions can pose challenges to its widespread adoption.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypePure TelluriumTellurideApplicationSolar PanelsThermoelectric ProductionMetallurgyOthersGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/tellurium-market-to-expand-by-usd-315-million-from-2024-2028-driven-by-rising-demand-in-consumer-electronics-ais-impact-on-market-dynamics—technavio-report-302231571.html

SOURCE Technavio