USD 324.6 million
Tellurium Market Size, Share, and Growth Analysis
Tellurium Market By Type (Pure Tellurium, Telluride), By Application (Chemical, Electronics), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45K2086 |
Region:
Global |
Published Date: February, 2025
Pages:
197
|Tables:
93
|Figures:
81
Format -
Tellurium Market Insights
Global Tellurium Market size was valued at USD 324.6 million in 2023 and is poised to grow from USD 355.44 million in 2024 to USD 734.64 million by 2032, growing at a CAGR of 9.5% during the forecast period (2025-2032).
Increased demand from the consumer electronics industry is expected to offer lucrative growth opportunities for tellurium. Tellurium alloys are used in the various consumer electronics products such as mobile phones, LED displays & projectors, wearable electronic devices, gaskets & lighting, and rollers. Advancements in semiconductors and the shift toward ICs drive manufacturers to produce smaller electro-mechanical components, thereby fueling the global tellurium market growth. The increase in 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.
The increasing need for clean energy technologies and energy efficient solutions in renewable energy is driving significant growth in the market. Low levels of tellurium especially from Umicore pose a challenge for market expansion. Stringent environmental and safety regulations on tellurium mining and handling further fuel the market growth. However, the market is being captured by cadmium telluride, which is widely used in photovoltaic applications. The demand for tellurium is driven by the renewable energy sector, particularly solar technology and power generation. Tellurium is widely used in the production of alloys and compounds for electronic devices such as semiconductors, thermoelectric materials, and rewritable optical discs. The growing demand for the renewable energy has led to a rise in the adoption of these solar panels, driving the tellurium market forward.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Pure Tellurium
Fastest Growth
Telluride
Growth Rate
9.5% CAGR
Global Tellurium Market ($ Bn)
Country Share for North America Region (%)
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Tellurium Market Segments Analysis
Global Tellurium Market is segmented by Type, Application and region. Based on Type, the market is segmented into Pure Tellurium and Telluride. Based on Application, the market is segmented into Chemical, Electronics, Solar Energy, Metallurgy and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Type
As per the global tellurium market forecast, the pure tellurium segment is estimated to witness significant growth during the forecast period. Pure tellurium is widely used in the semiconductor and electronics industry for the production of thin-film solar cells, semiconductors, and thermoelectric materials. As the demand for renewable energy technologies and electronic devices continues to grow, the need for pure tellurium to manufacture high-performance components increases, driving the market's expansion. The increasing global focus on clean energy and solar power development is significantly boosting the demand for pure tellurium. Pure tellurium is used in various alloys and thermoelectric applications in the automotive and aerospace sectors. As these industries focus on developing more energy-efficient systems and sustainable solutions, the demand for pure tellurium for advanced materials continues to rise.
The telluride segment plays an important role in the tellurium market, primarily because of its use in high-efficiency solar panels and thermoelectric materials. As demand for renewable energy increases, especially solar energy, the telluride segment is experiencing significant growth. In addition to solar technology, tellurides are used in thermoelectric devices that convert waste heat into electricity, further increasing the demand for tellurium. As global resources move towards greener and more energy efficient solutions, the telluride segment is expected to continue to play a key role in expanding the use of tellurium, giving importance to the energy transition.
Analysis by Application
As per the global tellurium market analysis, electronics segment is dominating during the forecast period. The dominance of the electronics segment is driven by the increasing demand for tellurium in the production of various electronic components, including the semiconductors, thermoelectric devices, and optoelectronic devices. These enhanced products of alloys are important in electronic manufacturing components and systems. Tellurium is used in these materials because of its unique properties, such as the ability to enhance the performance of certain electronics. Tellurium's ability to improve the performance of electrical cables and circuit boards makes it important in the electronics segment.
On the other hand, the solar energy segment is the fastest growing segment and is growing rapidly due to the expansion of the solar industry. Tellurium is an important component in thin solar panels, where it is combined with other materials such as cadmium. CdTe solar cells are gaining popularity due to their cost-effectiveness and efficiency in converting sunlight into electricity, contributing to the growth of the solar energy segment. Cadmium Telluride (CdTe) is an important material for thin solar cells, widely recognized for its sufficient performance moving efficiency, low manufacturing costs and high performance in low-light conditions.
Global Tellurium Market By Type (%)
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Tellurium Market Regional Insights
As per the tellurium market outlook, North America is projected to experience modest expansion during the forecast period, driven primarily by the wave in cadmium telluride (CdTe) thin-film solar cells production for solar photovoltaic (PV) installations in the US and Canada.
According to the Solar Energy Industries Association, the US installed a record-breaking 32.4 GW of solar PV capacity in 2022, a 51% increase from the previous year. The region's high tellurium production-consumption ratio is another significant factor fueling the market growth. Additionally, the shift to high-carbon energy sources such as wind, solar, biomass and geothermal energy is driving demand for tellurium in North America.
Asia-Pacific is the fastest growing region in this market. Tellurium price trends in Asia-Pacific are heavily influenced by strong technological growth and expanding production, particularly in China and India but also supply disruptions caused by geopolitical pressures and regulations internal mining fluctuations play a significant role in the volatility of the price. Additionally, tellurium pricing dynamics are significantly influenced by the robust industrial growth and expanding manufacturing sectors, particularly in China and India. It is driven by active construction activity and the increased investment in infrastructure.
Global Tellurium Market By Geography
- Largest
- Fastest
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Tellurium Market Dynamics
Tellurium Market Drivers
Technological Advancements in Electronics and Semiconductors
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Tellurium is an important raw material for the manufacture of semiconductors, thermoelectric materials and advanced electronic devices. The expansion of the electronics industry, driven by innovations in consumer electronics, mobile devices and data storage, is contributing to the growing demand for tellurium and its use in devices generating thermal electricity.
Increased Demand from Consumer Electronics Industry
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Increased demand from the consumer electronics industry is the key driver of the market. Tellurium’s use as an alloying element in the manufacture of copper and steel, enhancing their properties such as electrical conductivity and mechanical properties in electronics. Tellurium is important in solar technology as an integral component of thermoelectric materials that convert waste heat into electricity . Tellurium, a metallic element plays an important role in various industries such as electronics and metallurgy.
Tellurium Market Restraints
Stringent Environmental and Safety Regulations
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Stringent environmental and safety regulations on tellurium is a key challenge affecting the market growth. Tellurium is a metalloid element with significant applications in various industries, including electronics, metallurgy, and solar technology. In metallurgy, tellurium is utilized as a thermoelectric material in the manufacture of thermoelectric generators and coolers.
Increasing Extraction Costs
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Increasing extraction costs are expected to hamper the market. As Tellurium is found as a by-product of copper and lead refining processes, the extraction of Tellurium becomes economically viable only when these base metals are mined in large quantities. Surging environmental concerns regarding mining and processing activities are likely to limit the market. Tellurium extraction and refining processes tend to generate environmental pollutants, such as sulfur dioxide emissions and toxic tailings.
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Tellurium Market Competitive Landscape
The competitive landscape of the tellurium market is composed of key players involved in various sectors of tellurium mining, production and consumption. This market is niche, but has grown due to solar energy, electronics and advanced materials. The tellurium market companies leverage vertical integration, strategic partnerships, and R&D investments to maintain their competitive edge.
Top Players in Tellurium Market
- JX Nippon Mining & Metals Corporation (Japan)
- Jiangxi Ketai New Materials (China)
- 5N Plus (Canada)
- Aurubis (Germany)
- Boliden (Sweden)
- Umicore (Belgium)
- Shinko Chemical (Japan)
- Kisan Kinzoku Chemicals (Japan)
- Pan Pacific Copper (Japan)
- Rio Tinto (UK)
- MMG Ltd. (Hong Kong)
- Teck Resources (Canada)
- Southern Copper (Peru)
- Freeport-McMoRan (USA)
- Gold Fields (South Africa)
- AngloGold Ashanti (South Africa)
- Newmont Corporation (USA)
- Barrick Gold (Canada)
- Kinross Gold (Canada)
Tellurium Market Recent Developments
- In April 2023, China Minmetals Corp. announced a $100 million investment in a new tellurium plant in China.
- In October 2021, Teck Resources Ltd, a diversified natural resources company, completed the acquisition of a minority stake in one of the Asia's largest tellurium refineries.
- In July 2021, First Solar Inc., a manufacturer of thick, thin-film solar modules, announced the acquisition of a controlling interest in a tellurium mining company based in South America in the form of adopted by a targeted business.
Tellurium Key Market Trends
- Green Bonds Fueling Tellurium Demand: Green bonds fueling demand for tellurium is the upcoming trend in the market. Tellurium, a metalloid element, plays a significant role in various industries, particularly in electronics and metallurgy. In electronics, tellurium is used as an alloying agent in steel and copper to enhance their properties. In the realm of solar technology, tellurium is a vital component in thermoelectric materials, which convert waste heat into electricity.
- Growing Focus on Renewable Energy: The growing focus on renewable energy presents a major opportunity for the global tellurium industry. As countries prioritize reducing carbon emissions and enhancing energy efficiency, the demand for solar technologies, where tellurium plays a vital role, is expected to rise. Governments around the world, including the United States and the European Union, have set ambitious targets for renewable energy generation.
Tellurium Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, renewable energy demand from clean energy technologies continues to drive the need for tellurium in photovoltaic cell manufacturing, contributing to next-generation electronics. Supply constraints and potential problems pose challenges to the development of the industry. The growing applications in electronics are expected to provide the lucrative opportunities in the coming years. Electronics makes extensive use of tellurium-based materials in semiconductor manufacturing, photovoltaic devices, and infrared detectors. Tellurium is also used by the automotive industry as a telluride alloy for energy-saving solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 324.6 million |
| Market size value in 2032 | USD 734.64 million |
| Growth Rate | 9.5% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| 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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