Tellurium Market
The market for Tellurium was estimated at $104 million in 2024; it is anticipated to increase to $210 million by 2030, with projections indicating growth to around $376 million by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Tellurium Market Outlook
Revenue, 2024
$104M
Forecast, 2034
$334M
CAGR, 2025 - 2034
12.4%
The Tellurium industry revenue is expected to be around $116.9 million in 2025 and expected to showcase growth with 12.4% CAGR between 2025 and 2034. The rise in the market importance of tellurium can be attributed to its increasing demand in industries like energy for making cadmium telluride photovoltaic solar cells-a key application area for this element. Moreover tellurium is being increasingly utilized in alloys to enhance machinability. Is finding expanded use in thermoelectric materials thus solidifying its ongoing significance in the market. Furthermore advancements in technology and research efforts are playing a role in boosting the demand, for this essential element.
Tellurium stands out as an element with a range of impressive qualities. Its ability to be stretched into thin wires (ductility) earth related attributes (telluric characteristics) and limited supply altogether give it significant value in the ever changing global marketplace dynamics. Without a doubt its primary uses extend across industries; from metals and mining where it strengthens steel and copper, to electronics where it enhances chip technology and optics where it is utilized in creating bulk acoustic wave devices.
Market Key Insights
- The Tellurium market is projected to grow from $104.0 million in 2024 to $335 million in 2034. This represents a CAGR of 12.4%, reflecting rising demand across Solar Panels Manufacturing, Metallurgy and Alloying Processes and Thermoelectric Devices Production.
Tellurium consumption was primarily driven by solar power applications, accounting for approximately 40% of global demand. Thermoelectric production represented around 30%, followed by metallurgical uses at 15%, rubber applications at 5%, and other minor uses making up the remaining 10%.
- Aurubis AG, JX Nippon Mining & Metals Corp, Mitsubishi Materials Corp are among the leading players in this market, shaping its competitive landscape.
- China and U.S. are the top markets within the Tellurium market and are expected to observe the growth CAGR of 11.2% to 14.9% between 2024 and 2030.
- Emerging markets including Brazil, India and South Africa are expected to observe highest growth with CAGR ranging between 8.7% to 13.0%.
- Transition like Rise of Renewable Energy is expected to add $10 million to the Tellurium market growth by 2030.
- The Tellurium market is set to add $231 million between 2024 and 2034, with manufacturer targeting Thermoelectrics & Free-Machining Alloys Applications projected to gain a larger market share.
- With Rising demand for solar panels, and Advancements in thermoelectric technologies, Tellurium market to expand 222% between 2024 and 2034.
Opportunities in the Tellurium
The growing trend towards utilizing energy sources due to environmental concerns is also evident in the increasing use of Tellurium, for producing highly efficient thin film solar cells that cater to changing consumer demands.
Growth Opportunities in North America and Europe
North America is considered a market for tellurium with a focus on the United States because of its thriving tech sector. The demand for tellurium in this region is largely propelled by its use in semiconductors and thermoelectric industries. There are exciting possibilities emerging for tellurium in the renewable energy field as well. Particularly in applications, like solar panels and photovoltaic cells. Moreover in this region high tech companies. Focus heavily on research and development with a strong demand for pure tellurium compounds intensifying competition and emphasizing the importance of staying innovative, for businesses operating here. Nevertheless dealing with uncertainties and fluctuating prices of raw materials present challenges that require thoughtful strategies to overcome.
Europe is a player in the market for tellurium due to its strong automotive and aerospace industries that drive the demand for advanced materials and alloys using this element known for its malleability and ductility qualities. Moreover the regions focus on initiatives to embrace renewable energy sources is shining a spotlight on the use of tellurium, in solar photovoltaic technologies.
Market Dynamics and Supply Chain
01
Driver: Rising Demand for Solar Panels, and Accelerating Use of Tellurium in Metallurgy
The demand for tellurium is also on the rise due to the growing focus on clean energy sources, like thin film solar cells that rely on its special properties to convert sunlight into electricity efficiently. In the field of metallurgy Tellurium is also utilized to enhance the workability of metals. Ungoing efforts, in research and development are also concentrated on broadening the variety of alloys that can also leverage this usage. A factor projected to stimulate market expansion.
The appeal of Tellurium for use in high temperature thermoelectric applications is also significant due to its high melting point properties that attract industries seeking new approaches to harness power, from unused heat sources.
02
Restraint: Limited Supply
The rising demand for tellurium has led to challenges in its extraction process as it is commonly found in base metal ores like copper and lead which makes its availability limited. However the production of tellurium is linked with the profitability of copper and lead industries than being a primary focus. This reliance on the byproducts of these industries causes fluctuations, in tellurium production rates which then affects its market demand and overall dynamics.
03
Opportunity: Technological Innovation and Strategic Collaboration
The rise of cutting edge advancements like nanotechnology has paved the way for the utilization of Tellurium in new ways. There is an increasing demand for optical data storage tools and Telluriums characteristics as a phase change material could provide a key solution which might lead to a significant market advancement. Countries with emerging economies such as India and China could potentially delve into this opportunity given their expanding market and efforts, towards digital transformation.
Collaborating strategically in the space and semiconductor sector could offer Tellurium a market opportunity. The distinctive properties of this element can be harnessed by companies to propel advancements and foster economic growth. High speed communication and digital device requirements may spur interest in utilizing Tellurium in semiconductor applications. This presents an opportunity for market expansion in cutting edge nations such, as Japan, South Korea and the United States.
04
Challenge: Health and Environmental Concerns
Despite its range of uses and advantages in various applications Tellurium can become a hazardous waste material in certain situations It has direct effects on human health when exposed to it which can result in symptoms such as dizziness nausea and in extreme cases may lead to tellurium poisoning Improper disposal of tellurium also contributes to environmental pollution prompting responses, from environmental regulatory agencies.
Supply Chain Landscape
1
Extraction & Mining
Rio TintoFreeport-McMoRan
2
Processing & Refining
NyrstarDoe Run
3
Tellurium Material Production
5N PlusVital Materials
4
End-User Industry
Solar Panel ManufacturersElectronics Manufacturers
1
Extraction & Mining
Rio TintoFreeport-McMoRan
2
Processing & Refining
NyrstarDoe Run
3
Tellurium Material Production
5N PlusVital Materials
4
End-User Industry
Solar Panel ManufacturersElectronics Manufacturers
Use Cases of Tellurium in Solar Panels Manufacturing & Metallurgy
Solar Panels Manufacturing : Tellurium plays a role in producing cutting edge solar panels using cadmium telluride . This CdTe technology combines telluride and cadmium to efficiently convert power into electricity with performance levels similar to traditional silicon based panels. Leading companies like First Solar utilize this method due to its reduced reliance, on tellurium compared to materials – ensuring cost efficiency and stable supply chains.
Thermoelectric Devices Production : Tellurium is commonly utilized in making thermoelectric devices because of its thermoelectric efficiency. Bismuth telluride a combination of bismuth and tellurium is mostly employed in cooling systems for computers and refrigerators. Laird Thermal Systems holds a spot, in the market by leveraging the advantageous characteristics of tellurium based alloys to enhance the reliability and effectiveness of thermoelectric devices.
Metallurgy and Alloying Processes : In the field of metallurgy industry uses tellurium to enhance the quality of metal alloys by improving their machinability and strength when incorporated into copper and stainless steel materials. Freeport McMoRan stands out in the market for producing top notch alloys with the help of tellurium usage which has boosted their reputation and increased demand across industries.
Recent Developments
Tellurium is an overlooked element found in the Earths crust that is gaining attention across different industries thanks to recent market trends. Its unique metallic traits and semiconductor properties make it a vital ingredient in the production processes of manufacturing companies well as, in the technology and renewable energy sectors.
December 2024 : Comprehensive Mining revealed a rise in Tellurium extraction thanks to advancements, in their operational technology.
October 2024 : SolarTech Industries integrated Tellurium into their cutting edge cells to increase their popularity, in the market.
August 2024 : Metallix Corp made a move, in the market by getting into recycling Tellurium as part of their efforts to promote sustainability.
Impact of Industry Transitions on the Tellurium Market
As a core segment of the Metal & Minerals industry,
the Tellurium market develops in line with broader industry shifts.
Over recent years, transitions such as Rise of Renewable Energy and Expansion of Consumer Electronics have redefined priorities
across the Metal & Minerals sector,
influencing how the Tellurium market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Rise of Renewable Energy
The crucial role that Tellurium plays in the realm of energy cannot be emphasized enough – both presently and in the upcoming times ahead. Given its significance as an element in cutting edge solar panel technologies. Notably in thin film photovoltaic cells. There is a considerable surge in the demand for Tellurium on the horizon. These specific cells have demonstrated their effectiveness and affordability which has played a role in propelling the shift towards renewable energy sources. So; the renewable energy sector is experiencing rapid growth primarily due to the urgent necessity, for clean and sustainable energy solutions. The growth of power installations worldwide has caused a ripple effect, in the tellurium industry by boosting demand and driving market expansion.
02
Expansion of Consumer Electronics
Tellurium is important in the consumer electronics industry because of its properties, which are crucial in creating products, like CDs, DVDs or Blu ray discs.