NEW YORK, June 23, 2021 /PRNewswire/ -- As per industry analysis by Persistence Market Research, the global tantalum carbide coating for graphite market is estimated to expand at a healthy CAGR of around 5% over the forecast period of 2021-2031.
Growing demand for tantalum across various industrial sectors such as semiconductor & electronics, aerospace & aviation is one of the leading driving factors for the growth of the market. Tantalum consumption is dominated by capacitors for electronic equipment.
Capacitors are electrical components that store energy electrostatically in an electric field, and are used in a wide variety of electric and electronic products. Capacitors are an essential part of almost all electronic products, ranging from smartphones to appliances in homes, electronic systems in cars, and wind turbines producing electricity. As such, demand for tantalum carbide coatings for graphite is rising steadily.
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Key Takeaways from Market Study
Increasing demand for tantalum coatings from the semiconductors & electronics sector is expected to propel market growth over the assessment period.
Tantalum carbide coatings are widely used due to their properties and advantages such as excellent resistance to wear and abrasion, corrosion, oxidation and erosion, thermal shock resistant, superior flatness capability, electrically conductive, etc.
There has been increasing use of chemical vapor deposition (CVD) in industries for coatings applications.
Tantalum coatings are made from refractory ceramic material that is exceedingly hard and has metallic electrical conductivity. Tantalum carbides have one of the highest melting points among binary compounds, peaking at around 3,880°C depending on purity.
Demand for tantalum coatings from various industries has seen rapid growth. Also, the need for tantalum carbide coatings has been rising steadily over the past few years for related applications, especially in nations such as Taiwan, South Korea, and China.
The market in Japan, South Korea, and Taiwan is projected to expand at CAGRs of 3.9%, 4.9%, and 5.1%, respectively.
Due to the COVID-19 pandemic, industrial activities were hit. In 2020, the market witnessed decreased growth. However, with activities gradually increasing across sectors, growth in 2021 has slightly increased.
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"Globally, Taiwan has stayed relatively safe from the pandemic situation created by COVID-19, and has maintained its growth. End-use industries such as semiconductors & electronics are expected to witness significant growth, which would be a robust propeller for the demand for of tantalum carbide coatings for graphite," says an analyst of Persistence Market Research.
The global tantalum carbide coating for graphite market has been identified as a significantly fragmented market, with the organized sector occupying a major section of the overall industry.
Some of the leading players included in the report are Bay Carbon Inc., Toyo Tanso Co., Ltd., Nanoshel LLC, Momentive Performance Materials, Materion Advanced Chemicals, Hunan WISE New Material Technology Co., Ltd., American Elements, CGT Carbon GmbH, and Pacific Particulate Materials (PPM) Ltd., who are anticipated to create a tough competitive environment at the global level.
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Demand for tantalum carbide coatings for graphite is anticipated to increase substantially owing to growing demand from the semiconductors & electronics industry, owing to increasing demand for consumer electronics across the world.
Demand is growing due to the excellent properties of tantalum coatings. These tantalum-based coating films have high thermal stability, high conductivity, as well as excellent corrosion that is highly resistant to foreign atoms, thereby driving demand.
More Valuable Insights
Persistence Market Research, a research and consulting firm, has published a market research report on the tantalum carbide coating for graphite market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides in-depth analysis of the market through different segments, namely, coating method, application, and region. The report also provides supply and demand trends, along with an overview of the parent market.
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