Tellurium Market Updates

Tellurium Market size was valued at USD 318.5 Million in 2023 and is poised to grow from USD 349.7 Million in 2024 to USD 738.8 Million by 2032, growing at a CAGR of 0.098 during the forecast period (2025-2032).

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.   'Teck Resources Limited - Canada', 'Norilsk Nickel - Russia', 'Freeport-McMoRan Inc. - United States', 'Sumitomo Metal Mining Co., Ltd. - Japan', 'Umicore - Belgium', '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'

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.  

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.