Product Code: RP-ID-10294025 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Chemicals |
Report ID: 10294025
Market Overview:
Lithium Tantalate Wafers Market, By Application (Laser, Electronic and Others), and Geography (North America, Europe, Asia Pacific and Rest of the World) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025
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.
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.
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
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