NEW YORK, United States, July 21, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Spherical Tantalum Powder Sales Market - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. According to the latest research study, the demand of global spherical tantalum powder sales market size was worth at around USD 641.78 million in 2022. The market is expected to reach a CAGR of 5.63% and is anticipated to surpass over USD 987.26 million by 2030.
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Spherical Tantalum Powder Sales Market Overview:
Tantalum is a transition series element with the atomic number of 73. It is an exceedingly rare, silver-gray metal with a high hardness. With a Mohs hardness of 6.5, tantalum is harder than silver and platinum, according to research, and it is also scratch-resistant. The metal has four primary applications in the modern industrial world, including the production of electrical capacitors, aircraft engines, the management of corrosive chemicals, and surgical implants.
Plasma inert gas atomization is used to produce spherical tantalum powder from nodular or angular tantalum powder. The resulting particles have a spherical shape and a polished exterior. One of the primary characteristics of spherical tantalum powder is its limited particle size distribution, which makes it highly effective for a variety of applications.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
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Key Insights from Primary Research
- As per the analysis, the Spherical Tantalum Powder Sales market share is likely to grow above a CAGR of around 5.63% between 2023 and 2030.
- The Spherical Tantalum Powder Sales market size was worth around USD 641.78 Million in 2022 and is estimated to hit approximately USD 987.26 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The spherical tantalum powder sales market is projected to grow at a significant rate due to the growing demand for sustainable packaging
- Based on purity segmentation, 99.9% was predicted to show maximum market share in the year 2022
- Based on end-user segmentation, the electronic industry was the leading user in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
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Spherical Tantalum Powder Sales Market: Growth Drivers
- Increasing 3D printing applications in healthcare will contribute to market expansion.
The global market for the sale of spherical tantalum powder is anticipated to expand due to the expanding use of spherical tantalum powder in 3D printing in the healthcare industry. The process of creating a three-dimensional object from a digital file is known as 3D printing. The powder's excellent flowability, which contributes to the formation of a homogenous and cohesive structure, is one of the primary characteristics that makes it an ideal material for 3D printing. As a result of the increasing number of patients around the world, the global healthcare industry is under intense pressure, and industry leaders are actively seeking and adopting methods to enhance patient care.
Spherical Tantalum Powder Sales Market: Restraints
- A limited supply of tantalum metal will hamper market expansion
Tantalum is a rare metal. The American Geoscience Institute estimates that the Earth's crust contains approximately 2 parts per million of tantalum. In addition, the metal base is presently restricted to a small number of regions, including Australia and Africa, which makes exploration and mining more difficult. The limited quantity of the metal also contributes to the higher price of tantalum derivatives, such as spherical tantalum powder. As of 2022, 1 kilogram of tantalum cost more than USD 145, and the production of additional derivatives, including powder-form, increases the price. These factors are anticipated to restrain the development of the global spherical tantalum powder sales market over the forecast period.
Competitive Players
The report contains qualitative and quantitative research on the global spherical tantalum powder sales market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global spherical tantalum powder sales market include;
- Edgetech Industries
- Tekna
- Advanced Engineering Materials
- ALB Materials
- HC Starck
- Guangdong Yinna Technology
- Beijing Youxinglian Nonferrous Metal
- GAM
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Spherical Tantalum Powder Sales Market: Segmentation Analysis
The global spherical tantalum powder sales market is segmented based on purity, application, end-user, and region.
Based on purity, the global market segments are 99.9%, 99.5%, and others. The highest growth was observed in the 99.9% segment since these variants of spherical tantalum powder are considered the purest form. They are used in industries such as aerospace, medicine, and electronics which have strict and high standards in terms of product quality.
Based on application, the spherical tantalum powder sales industry is divided into 3D printing, cold spray application, electronic components, additive manufacturing, and others. The largest application of the powder is in the electronic segments due to its application in the production of high-performance resistors and capacitors.
Based on end-user, the global market segments are medical, electronics, aviation, and others with the electronics segment leading with the highest CAGR. The demand and need for advanced electronic products across commercial and noncommercial segments along with growing investments in electronics used for national defense and security could create higher growth in the segment during the forecast period.
Regional Analysis:
- North America anticipates to dominate global market during the projected period
North America currently dominates the global spherical tantalum powder sales market, but it is important to note that tantalum powder is traded globally and the market remains highly fragmented. The presence of important tantalum and derivatives suppliers in the United States is a major factor in North America's economic expansion. Global Advanced Metals (GAM), a prominent industry supplier, is headquartered in the United States.
Globally, the company has established crucial partnerships with regional businesses. Similarly, the increasing end-use applications of spherical tantalum forms in the healthcare and electronics industries are anticipated to contribute to the region's expansion. Research institutions from a variety of sectors are experimenting with spherical tantalum powder to advance the understanding and development of new technologies based on the advanced metal.
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Recent Industry Developments:
- In April 2023, Global Advanced Metals (GAM) and Croom Medical announced a partnership to work on introducing tantalum-based additive manufacturing capability. The companies are expected to bring their strengths together for promoting advancements in the field of spherical tantalum powder sales and application.
Key questions answered in this report:
- What is the market size and growth rate forecast for Spherical Tantalum Powder Sales industry?
- What are the main driving factors propelling the Spherical Tantalum Powder Sales Market forward?
- What are the leading companies in the Spherical Tantalum Powder Sales Industry?
- What segments does the Spherical Tantalum Powder Sales Market cover?
- How can I receive a free copy of the Spherical Tantalum Powder Sales Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 641.78 Million |
| Market Forecast in 2030 | USD 987.26 Million |
| Growth Rate | CAGR of 5.63% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Edgetech Industries, Tekna, Advanced Engineering Materials, ALB Materials, HC Starck, Guangdong Yinna Technology, Beijing Youxinglian Nonferrous Metal, and GAM. |
| Segments Covered | By Purity, By Application, By End-User, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global spherical tantalum powder sales market is segmented as follows:
By Purity
- 99.95%
- 99.9%
- Others
By Application
- 3D Printing
- Cold Spray Applications
- Electronic Components
- Additive Manufacturing
- Others
By End-User
- Medical
- Electronics
- Aviation
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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