Lithium Tantalite Wafers Market 2021 Report On Size, Growth Analysis by Top Players 2021: Dynamics and Latest Trends with Global Industry Share, Business Development Plans and Strategies, CAGR and Revenue Forecast to 2030

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In a recent published report, Kenneth Research has updated the market report for Lithium Tantalite Wafers Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Lithium Tantalite Wafers Market products.

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REPORT HIGHLIGHT

The lithium tantalate wafers market was valued at USD 1.23 billion by 2017, growing with 10.9% CAGR during the forecast period, 2018-2025.

Market Dynamics

Lithium tantalate wafers, ( Lithium Tantalate Crystal (LiTaO3) or LT) is a ferroelectric crystal that contains pyroelectric, optical, and piezoelectric features. The product finds applications in various industries, most common being surface acoustic wave devices, transducers, piezoelectric sensors, decoders and resonators in laser systems. This specific material is known to have the ability to detect, modify and control light through refraction. This is due to the changes in the electric field.

As per a study published by the International Nuclear Information System (INIS), functional ferroelectric material such as lithium tantalate holds great promise to have bioactive behaviour in tissue growth due to its high bioactivity. This product therefore finds application in tissue development segment, both in situ and ex situ conservation. Furthermore, increasing application of lithium tantalate wafers in the surface acoustic wave (SAW) technology drives the industry demand to great extent. The potential of this category is limitless, considering that SAW is used in the filter systems of conducters, convertors etc. SAW has been finding applications in various circuit systems such as mobile phones. The most popular applications being touch screen displays using the SAW technology, besides the recent touch screen, historically radio and television were using the SAW technology.

The key highlight of the material is its ability to have high optical damage threshold and a wide range of transparency besides the high chemical and mechanical strength. Thus making it the material of choice for encoders, non-linear elements in parametric light generators, converters, resonators in laser systems, frequency doubler. Market restraint for this category is the ease of processing when it comes to BAW filters on silicon wafers. Current manufacturing techniques and processing make BAW very easy to manufacture and use. In addition, high lithium tantalate wafers price will hamper the market development to some extent.

"Final Report will add the analysis of the impact of COVID-19 on this industry."

Application Takeaway

In terms of application, the market is categorized as laser, electronic and others. Electronics such as mobile phones, laptops or similar touch screen devices use lithium tantalite in the SAW technology. Growth in the electronic category will directly impact the demand for this product. An article in the telecoms news stated that "worldwide shipment of smartphones is expected to reach USD 1.66 billion in 2022 with over 2.5% of compounded annual rate (CAGR). Moreover, the product has a wide variety of application in radio, television, mobiles etc. Therefore the electronic industry dominates this product presence.

Regional Takeaway

The North America accounted for the largest revenue share owing to the strong progress of consumer electronics, laser, healthcare and telecommunication sector. All of which have a close direct link with lithium tantalate wafers market. Asia Pacific region is expected to grow with promising growth rate. Steep increase in demand for optoelectronic components (i.e. sensors, laser diode, LED) in the region support the industry growth. As per an article in the Economic Times, 2018, "Internet penetration in rural areas has grown from 18% (December 2016) to 20.26% (December 2017)". This will directly result in an increased sale in mobiles and this eventually growth in demand for lithium tantalate products.

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Key Vendor Takeaway

The key players of the region being American Elements, CASTECH INC, Sumitomo Metal Mining, Oxide Corporation, Korth Kristalle GmbH, Koike Co., Shanghai Dongcheng Electronic Material, Crystalwise Technology, Inc., United Crystal, DayOptics, Kaijing Optics and others. Constant product innovation in this category is expected to improve or at least keep the growth of the industry moving in the right direction.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year - 2014 & 2016

Base Year - 2017

Estimated Year - 2018

Projected Year - 2025

TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies and Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY APPLICATION

Laser

Electronic

Others

MARKET, BY REGION

North America

U.S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of APAC

Rest of the World

Middle East and Africa

Latin America

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us

Name: Kenneth research

Email:[email protected]

Phone: +1 313 462 0609

The post Lithium Tantalite Wafers Market 2021 Report On Size, Growth Analysis by Top Players 2021: Dynamics and Latest Trends with Global Industry Share, Business Development Plans and Strategies, CAGR and Revenue Forecast to 2030 appeared first on America News Hour.

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