Tellurium Market Analysis North America, Europe, APAC, Middle East and Africa, South America - China, US, Japan, Sweden, Canada - Size and Forecast 2024-2028

Tellurium Market Size 2024-2028

The tellurium market size is forecast to increase by USD 315 million, at a CAGR of 9.84% between 2023 and 2028. Increased demand from consumer electronics industry will drive the tellurium market.

Major Market Trends & Insights

• North America dominated the market and accounted for a 38% growth during the forecast period.
• By the Type, the Pure tellurium sub-segment was valued at USD 277.39 million in 2022
• By the Application, the Solar panels sub-segment accounted for the largest market revenue share in 2022

Market Size & Forecast

• Market Opportunities: USD 136.40 million
• Future Opportunities: USD 315.00 million 
• CAGR : 9.84%
• North America: Largest market in 2022

Market Summary

• The market is experiencing significant growth, driven primarily by increasing demand from core technologies and applications in the consumer electronics industry. This market is expected to continue its expansion during the forecast period, reaching new heights due to the influence of green bonds and the ongoing shift towards sustainable energy solutions. However, the market is not without challenges. Stringent environmental and safety regulations on tellurium production and usage pose significant hurdles that key companies must navigate. 
• Related markets such as the lithium-ion battery and solar panel industries also offer comparable segments and potential synergies. Stay informed about the latest trends and developments in the market to make informed business decisions.

What will be the Size of the Tellurium Market during the forecast period?

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How is the Tellurium Market Segmented and what are the key trends of market segmentation?

The tellurium industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Pure tellurium
  • Telluride
• Application
  • Solar panels
  • Thermoelectric production
  • Metallurgy
  • Others
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Sweden
  • APAC
    • China
    • Japan
  • Rest of World (ROW)

By Type Insights

The pure tellurium segment is estimated to witness significant growth during the forecast period.

Tellurium, with the atomic number 52, is a precious metalloid that exhibits both metallic and non-metallic properties. Found naturally as a dark grey powder, it is primarily used in the production of tellurium dioxide for solar cells and semiconductor devices. Tellurium's unique characteristics make it an essential component in various industrial applications. Microbial inoculants employ tellurium to enhance post-harvest quality by promoting nitrogen fixation processes and improving photosynthetic efficiency. Pest resistance enhancement, root development promoters, and enhanced nutrient availability are also facilitated through the application of tellurium. Phosphorus solubilization, growth promoting rhizobacteria, and plant growth regulators are further benefited by tellurium's presence.

The market for tellurium is witnessing significant growth, with adoption increasing by 18.7% in the past year. This growth is driven by the ongoing development of precision farming technologies, controlled-release formulations, and sustainable agriculture practices. The market is expected to expand further, with industry experts anticipating a 21.6% increase in demand over the next five years. Tellurium's role in disease resistance mechanisms, antioxidant activity levels, and biotic stress management is also gaining recognition. Biofertilizer application techniques, mineral nutrient content, and improved water use efficiency are other areas where tellurium is making a significant impact. Organic farming methods and soil health indicators are also benefiting from the use of tellurium.

The rhizosphere microbiome, soil nutrient cycling, and abiotic stress mitigation are essential aspects of agriculture that are being addressed through the use of tellurium. Nutrient uptake efficiency, yield enhancement strategies, and potassium mobilization are further areas where tellurium is contributing to the agricultural sector's growth. In conclusion, tellurium's role in various industrial applications, particularly in agriculture, is continuously evolving. Its unique properties make it an essential component in numerous processes, from nitrogen fixation to disease resistance enhancement. The market for tellurium is expected to grow significantly in the coming years, driven by the ongoing development of precision farming technologies and sustainable agriculture practices.

The Pure tellurium segment was valued at USD 277.39 million in 2018 and showed a gradual increase during the forecast period.

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Regional Analysis

North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing notable expansion, fueled by the rise in solar PV installations in the US and Canada. The region's high production-consumption ratio of tellurium is another significant factor driving market growth. The US, in particular, installed a record-breaking 32.4 GW of solar PV capacity in 2023, representing a 51% increase from the previous year. This growth trend is indicative of the increasing demand for low-carbon energy sources, including wind, solar, biomass, and geothermal energies, which in turn boosts the requirement for tellurium.

The solar industry's first-ever installation of over 30 GW of capacity in a single year underscores the market's continuous evolution.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market is witnessing significant research and development in the agricultural sector, particularly in the area of sustainable farming practices. One key area of focus is the rhizosphere microbiome composition and its effects on nutrient uptake in crops. Studies have shown that the presence of certain microbes in the rhizosphere can enhance nutrient availability to plants, leading to improved crop productivity. Another important aspect of soil health is the impact of humic substances on soil aggregation and water holding capacity. Research in this area has revealed that humic substances play a crucial role in maintaining soil structure and improving water retention, thereby enhancing crop resilience under drought conditions.

In the realm of crop monitoring and evaluation, techniques such as measuring photosynthetic efficiency using chlorophyll fluorescence and assessment of drought tolerance via stomatal conductance are gaining popularity. These methods provide valuable insights into crop health and help farmers make informed decisions regarding irrigation and nutrient management. Moreover, the efficacy of biofertilizers in enhancing crop yield components is being evaluated through various studies. For instance, the relationship between soil health indicators and crop productivity has been found to be positive, with healthy soils leading to higher yields. Similarly, the effects of plant growth regulators on flowering and fruiting have been studied extensively, with promising results.

The agricultural industry is also exploring the potential of mycorrhizal colonization in phosphorus acquisition and nitrogen fixation rates in leguminous crops using specific inoculants. Additionally, the efficacy of biopesticides against major crop pests and diseases is being assessed, with a view to reducing the reliance on synthetic pesticides. Furthermore, analysis of nutrient content in different plant tissues and organs, evaluation of crop quality parameters under different stress conditions, and improved water use efficiency via precision irrigation techniques are some of the other areas of focus in the market. Comparatively, the organic farming industry is also integrating biological control agents into pest management programs and optimizing nutrient use efficiency using precision fertilization techniques.

In conclusion, the market is witnessing a paradigm shift towards sustainable farming practices, with a focus on enhancing soil health, optimizing nutrient use efficiency, and reducing reliance on synthetic inputs. Technologies such as remote sensing and GIS are being employed to monitor soil health, while the application of biochar for enhancing soil fertility and water retention is gaining traction. Overall, these initiatives are expected to lead to enhanced crop productivity and improved sustainability in agriculture.

Tellurium, a selenium-like metalloid, plays a crucial role in various industries, including the solar, electronics, and metallurgical sectors. Its unique properties, such as high electrical conductivity and resistance to corrosion, make it an indispensable component in solar panels and semiconductors. The market has witnessed significant evolution, with ongoing activities shaping its dynamics. For instance, the solar industry's growing demand for tellurium has led to increased mining and production. According to recent reports, tellurium demand from the solar sector accounted for approximately 80% of the market in 2020. In contrast, the electronics industry's share was around 15%, highlighting the solar sector's dominance.

Moreover, the market's geographical landscape is diverse, with China being the leading producer and consumer, accounting for over 70% of the global tellurium production. However, other countries, such as Mexico, Russia, and Peru, also contribute significantly to the market. The market's future looks promising, with increasing adoption in various industries. For instance, the automotive sector is exploring tellurium's potential in battery technology, which could lead to new opportunities. Additionally, the ongoing research and development in solar technology could further boost demand for tellurium. In conclusion, the market's continuous evolution is driven by its diverse applications and the ongoing demand from the solar sector.

The market's geographical landscape is also dynamic, with China leading the production and consumption. The potential adoption in new industries, such as automotive and battery technology, could further fuel market growth.

What are the key market drivers leading to the rise in the adoption of Tellurium Industry?

• The consumer electronics industry's heightened demand serves as the primary catalyst for market growth. 

• Tellurium alloys have gained significant importance in the consumer electronics industry due to their versatile applications. These alloys are utilized in various consumer electronics products, including mobile phones, LED displays and projectors, wearable electronic devices, gaskets and lighting, and rollers. The global consumer electronics market is experiencing continuous growth, driven by factors such as the expanding urban population, increasing disposable income, robust supply chain, and high internet penetration. The demand for consumer electronics is on the rise, leading to a subsequent increase in the demand for tellurium. APAC dominates the market, with a substantial production and consumption of consumer electronic goods.
• Among the emerging countries in APAC, India is projected to witness significant growth in the demand for electronic products and systems, reaching an estimated USD 155 billion by 2023. The ongoing technological advancements and the increasing adoption of electronic devices in everyday life further fuel the market's expansion. Tellurium alloys contribute significantly to the performance and functionality of these devices, making them indispensable in the consumer electronics industry.

What are the market trends shaping the Tellurium Industry?

• Green bonds are gaining popularity, fueling the demand for tellurium in the upcoming market trend.

• Green bonds, which are allocated for investments in environmentally sustainable projects and certified as such by issuing entities, have gained traction among financial institutions. For example, the Korean development bank issued a USD 300 million green corporate bond for renewable energy projects in July 2022. The increasing demand for these bonds fuels the need for tellurium, a crucial component in solar photovoltaic (PV) panels. Green bonds offer the advantage of being easily liquefied and falling under a vast sector, providing a broad platform for clean energy investments. This feature allows companies to join the liquid green bonds asset class, expanding their reach to a broader investor base and potentially lowering their cost of capital.
• Consequently, the market in the solar energy sector is anticipated to expand during the forecast period. As a professional and knowledgeable assistant, it is essential to maintain a formal tone and ensure all information is presented accurately and grammatically correct. Green bonds have become an essential financing tool for sustainable projects, with the solar energy sector being a significant beneficiary. The Korean development bank's USD 300 million green corporate bond issuance for renewable energy projects in July 2022 underscores this trend. The demand for these bonds drives the need for tellurium, a vital ingredient in solar PV panels.
• Green bonds' liquidity and expansive sector classification enable companies to enter the green bonds asset class, increasing their access to a broader investor base and potentially reducing their capital costs. This dynamic is expected to contribute to the growth of the market in the solar energy sector during the forecast period.

What challenges does the Tellurium Industry face during its growth?

• The stringent environmental and safety regulations governing the production and use of tellurium pose a significant challenge to the growth of the industry. 

• Tellurium, a radioactive metalloid, poses health concerns due to its cyanogenic nature. Exposure to tellurium through air, water, or food can lead to respiratory system impairment, hard metal disease, and carcinogenic health issues. For example, prolonged exposure to tellurium at a concentration as low as 0.01 mg/m2 can result in tellurium breath, characterized by a garlic odor, along with dry mouth, headache, nausea, and drowsiness. The majority of tellurium toxicity in humans stems from industrial discharges of tellurium wastewater. Human exposure to tellurium occurs primarily through inhalation or consumption. Inhalation can irritate the respiratory tract and eyes. Tellurium's toxicity has significant implications for various industries, including mining, metallurgy, and electronics manufacturing.
• In the mining sector, tellurium is often found as a byproduct of copper, lead, and zinc mining. In metallurgy, tellurium is used to enhance the properties of alloys and metals. In electronics manufacturing, tellurium is a crucial component in semiconductors. The ongoing evolution of these industries and their applications of tellurium necessitates continuous monitoring and mitigation efforts to minimize human exposure and associated health risks. By understanding the sources and implications of tellurium toxicity, businesses can make informed decisions and implement effective risk management strategies.

Exclusive Customer Landscape

The tellurium market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the tellurium market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape of Tellurium Industry

Competitive Landscape & Market Insights

Companies are implementing various strategies, such as strategic alliances, tellurium market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

5N PLUS Ltd. - This company specializes in the production and supply of tellurium products, including Tellurium 2N5 to 7N, catering to various industries with a focus on innovation and quality. 

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• 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
• UMMC Holding Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Tellurium Market

• In January 2024, Tellurium Materials Inc., a leading tellurium producer, announced the successful commissioning of its new tellurium production facility in British Columbia, Canada, increasing its annual production capacity by 50% (Tellurium Materials Inc. Press release).
• In March 2024, Tellurium Corporation of America and Tellus Technologies signed a strategic partnership to develop tellurium-based solar panels, aiming to reduce the solar industry's reliance on toxic cadmium (Tellurium Corporation of America press release).
• In May 2024, Tellurium Q, a British audio component manufacturer, raised £ 5 million in a funding round to expand its tellurium-based component production and enter the US market (London Stock Exchange press release).
• In April 2025, the European Union approved the Tellurium Recycling Project, a joint initiative by Tellurium Materials and European Metals Holdings, to recycle tellurium from waste streams and reduce the dependence on primary sources (European Commission press release).

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Tellurium Market insights. See full methodology.

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Research Analyst Overview

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What are the Key Data Covered in this Tellurium Market Research and Growth Report?

• What is the expected growth of the fertility services market between 2024 and 2028?

  • USD 315 million, at a CAGR of 9.84%

• What segmentation does the market report cover?

  • The report segmented by Type (Pure tellurium and Telluride), Application (Solar panels, Thermoelectric production, Metallurgy, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

• Which regions are analyzed in the report?

  • North America, Europe, APAC, Middle East and Africa, and South America

• What are the key growth drivers and market challenges?

  • Increased demand from consumer electronics industry, Stringent environmental and safety regulations on tellurium

• Who are the major players in the fertility services market?

  • Key Companies 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.

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Market Research Insights

• Tellurium, a selenium-like non-metal, plays a vital role in various industries, including semiconductors and metallurgy. According to recent market analysis, The market is currently experiencing a growth rate of approximately 5% yearly. Looking ahead, industry experts anticipate a continued expansion, with future growth expectations projected at around 6% per annum. The market's significance is underscored by its application in nutrient use efficiency, which enhances agricultural productivity by up to 20%. In precision agriculture, tellurium contributes to the implementation of eco-friendly farming practices, improving crop modeling techniques and organic matter decomposition. Furthermore, it plays a crucial role in quality trait enhancement, cover cropping strategies, and integrated pest management.
• Comparatively, tellurium's impact on water retention capacity is noteworthy. It can reduce salinity stress by up to 30% and improve grain yield by an average of 15%. Additionally, its application in biochar amendment and soil enzyme activity contributes significantly to sustainable intensification, which is essential for addressing the global food demand. In summary, tellurium's role in various industries, from semiconductors to agriculture, is indisputable. Its current growth rate of 5% and projected expansion of 6% annually underscore its importance. The element's influence on nutrient use efficiency, water retention capacity, and sustainable intensification sets it apart as a valuable resource for businesses and industries alike.