Tellurium is utilized in the renewable energy industry with Cadmium to form CdTe used in thin films for solar cells. This application in global solar energy, which occurs mainly in China, US and India, accounts for 40% of the end uses of Tellurium, with respect to global consumption.
- CdTe thin films in solar cells
- BiTe semiconductors
- rubber applications
Key industries of demand:
The Solar Energy Market, Thermoelectric Industry, and Metallurgy will be the main drivers of tellurium demand in the next decades. The increased demand from the consumer electronics industry has been instrumental in driving the tellurium market. For the sole purpose of thin-film technology development in Europe, 90+% of the current yearly tellurium supply will be needed each year from 2020 to 2030. By 2025, it is expected that Tellurium will have a "near-critical" supply. The tellurium supply may decrease in high-grade copper ores and will therefore limit the supply of Tellurium as a byproduct.
Tellurium price reached a high point of around $92 per kg in April 2018. Then, at the end of 2019, it significantly dropped to $50 per kg and from January 2020 the tellurium price shows significant growth by 70% from $50 per kg to $85 per kg on April 6, 2021.
Tellurium Price Chart:
Forecast CAGR for key industries of applications:
According to Technavio, the global tellurium market is expected to grow by 60.03 MT from 2020-2024, increasing at a CAGR of about 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Considering key drivers of the tellurium market, it should be noted that the global solar energy market was valued at $52.2 billion in 2018 by Allied Market Research and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026.
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