Tantalum Market Demand in 2021 was 1,887 Tons in 2021, the Growing Use of Tantalum In Electrical And Electronic Industry

According to Precision Business Insights (PBI), latest report, the global tantalum market demand in 2021 was 1,887 Tons and is expected to grow at a CAGR of 3.8% from 2022-2028. The primary drivers of the expansion of the global tantalum market include increasing demand for capacitors, growing use of tantalum in electrical and electronic industry, and rising use of tantalum alloys in aviation and gas turbine.

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Powder Segment to Dominate the Tantalum Market:
Based on the product form, the global tantalum market is segmented into metal, carbide, powder, alloys, and others. The applications of the powder are associated with the manufacturing of tantalum capacitors for electronic circuits used in automotive components such as abs, airbag activation, engine management modules, gps; portable electronics e.g. laptop computers tantalum. and also these powder-based attributes are highly reliable and have low failure rates and is capable of storing a high amount of electricity. For instance, in 2021, the market volume for the powder segment is projected to grow at a CAGR of 3.9% over 2022 - 2028. hence, this segment will drive the global tantalum market growth.

Asia Pacific Tantalum Market:
Asia Pacific is expected to lead in the global tantalum market over the forecast period. It is projected to grow at a CAGR of 4.0% in the coming years. Due to the booming demand from major industries like electrical & electronics, aerospace, and others, as well as fueling manufacturing activities across the region, are factors that are driving up tantalum demand and growth in this region. For instance, China is the Pacific region's largest tantalum consumer. Further, capacitors are the country's principal application for tantalum. Further, Acquisition and mergers are further strengthening the companies of this region. North American region is expected to record a significant growth rate, due to the increasing usage of electronic devices.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global tantalum market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,In June 2022, Tantalex Lithium Resources Corp. announced that its Congolese subsidiairy Tantalex SAU has effectively exercised its option to acquire an additional 27% stake in the MINOCOM SAS joint venture from MINOR SARL for a total consideration of USD $500,000 and the issuance of 35,000,000 common shares of TTX pursuant to an amending agreement executed on May, 2022. In October 2021, Tantalex Resources Corporation made an agreement with Minor SARL to acquire 25% of the shares in MINOCOM SAS, holder of the mining concession PER 13698 with an irrevocable option to receive an additional 27% at any time following completion of the mineral resource estimate on the ManonoKitotolo Lithium & Tin Tailings Project.

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The tantalum market is segmented based on product form, application, and geography
Based On the Product Form:
• Metal
• Carbide
• Powder
• Alloys
• Others

Based On Application:
• Capacitors
• Semiconductors
• Engine Turbine Blades
• Chemical Processing Equipment
• Medical Equipment
• Others

Based On Geography:
• North America
• Europe
• Asia-Pacific
• Middle East and Asia
• Latin America

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Key players' profiles in the tantalum market report are Global Advanced Metals Pty Ltd., AMG Advanced Metallurgical Group, Pilbara Minerals, MINSUR, Tantalex Lithium Resources, Inframat® Advanced Materials TM LLC, U.S. Titanium Industry Inc, Metallurgical products India Pvt. Ltd., H.C. Starck, and Ningxia Orient Tantalum Industry Co. Ltd.

Related Report:
Wet Tantalum Capacitors Market: https://precisionbusinessinsights.com/market-reports/wet-tantalum-capacitors-market/

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