The increased demand from the consumer electronics industry is expected to drive the growth of the market. Tellurium alloys are commercially used in various consumer electronics products such as mobile phones, LED displays and projector, wearable electronic devices, gaskets and lighting, and rollers. Factors such as increasing urban population, rise in disposable income, strong supply chain, and high internet penetration are driving the growth of the global consumer electronics market. The increase in demand for consumer electronics will in turn drive the demand for tellurium over the forecast period.
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As per Technavio, the increase in demand for nanostructured tellurium semiconductor will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Tellurium Market : Increase in Demand for Nanostructured Tellurium Semiconductor
Advances in semiconductors and the shift toward ICs are urging manufacturers to produce smaller electro-mechanical components. Moreover, the need for miniaturization of electronic components is further triggered by industries such as aerospace that require smaller and lighter components for increased functionality and low material costs. Thus, the increasing need for miniaturization of electronic components has led to an increase in the use of advanced materials such as tellurium for the manufacture of nanostructured semiconductors. These are used in applications such as PV cells, LEDs, sensors, and solar energy converters with tunable optical and electronic properties. The above-mentioned factors are expected to have a positive impact on the global tellurium market during the forecast period.
“Factors such as the advent of artificial intelligence (AI), rise in demand for tellurium in APAC and the growth of the solar installation market will have a positive impact on the growth of the tellurium market value during the forecast period,” says a senior analyst at Technavio.
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Tellurium Market: Segmentation Analysis
This market research report segments the tellurium market by application (solar panels, thermoelectric production, metallurgy and others), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the tellurium market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the significant economic growth and the rise in investments in the renewable energy integration program.
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Some of the key topics covered in the report include:
- Solar panels
- Thermoelectric production
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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