| Study Period | 2020 - 2030 |
| Market Volume (2025) | 663.08 tons |
| Market Volume (2030) | 851.12 tons |
| CAGR | 5.12 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Tellurium Market Analysis
The Tellurium Market size is estimated at 663.08 tons in 2025, and is expected to reach 851.12 tons by 2030, at a CAGR of 5.12% during the forecast period (2025-2030).
The tellurium market felt the brunt of the COVID-19 pandemic, with repercussions on production, supply chains, demand, and overall growth. Lockdown measures led to significant delays in mining operations and transportation, intensifying challenges in the already scarce raw materials. Consequently, these disruptions slowed production and reduced the availability of tellurium.
- Increasing usage in consumer electronics, the growing market for solar energy, and the increasing market for memory chips might propel the market forward.
- Nonetheless, the limited availability of tellurium and its mildly toxic nature to the environment could impede the market.
- Ongoing research to utilize tellurium in the healthcare industry and the increasing application in optoelectronics are poised to unlock substantial opportunities for the market
- Asia-Pacific region dominates the market and is expected to witness the highest growth during the forecast period.
Tellurium Market Trends
Increasing Demand for Solar Cells to Drive Market Growth
- Tellurium plays a pivotal role in formulating solar cells, enabling advancements in efficiency, affordability, and scalability.
- CdTe solar panels, leveraging tellurium, outshine their silicon counterparts in efficiency, cost-effectiveness, and adaptability. These panels not only excel in high-temperature and low-light conditions but also boast a shorter energy payback time due to their reduced production energy demands.
- Trade association Solar Energy UK (SEUK)'s Clean Power Action Plan aims for a solar generation capacity of 45GW-47GW by 2030. In a counterpoint, Solar Energy UK analyzed NESO’s CP30, suggesting that a target of 60GW by 2030 could lead to significant electricity cost reductions.
- At the end of 2023, China's solar cell manufacturing capacity stood at 930 GW/year, bolstered by an addition of 424 GW/year, as highlighted by the IEA Photovoltaic Power Systems Programme. In the first half of 2024, China produced 310 GW of solar cells, marking a 38.1% uptick from the same timeframe in 2023.
- In 2023, China bolstered its solar PV capacity by 260 GW, nearly tripling its growth from the previous year, as reported by the IEA. Meanwhile, the European Union, responding to an energy crisis, ramped up its solar PV additions to 61 GW in 2023, marking a 45% surge from 2022. The REPowerEU Plan and The Green Deal Industrial Plan, with their newly proposed policies and targets, are poised to significantly boost solar PV investments in the years ahead.
- According to IEA, to align with the NZE Scenario and achieve an annual solar PV generation of about 9212 TWh by 2030, a consistent annual growth of roughly 28% from 2024 to 2030 is essential. Additionally, a continued decline in PV module prices throughout 2024 is anticipated to further propel global capacity growth.
- India's solar cell manufacturing market is set to expand 7-8 times by 2030, eyeing a target of 49-50 gigawatts (GW). This surge is spurred by the Ministry of New and Renewable Energy’s draft amendments, poised to incorporate solar photovoltaic (PV) cells into the Approved List of Models and Manufacturers (ALMM) by April 2026.
- As of FY2024, India boasts a 70GW installed capacity for solar modules and 7GW for solar cells. With an anticipated addition of 84GW in the next three years, the actual capacity might fall short of announcements due to extended lead times.
- Consequently, these factors are likely to influence the market during the forecast period, leading to a surge in demand for tellurium in the solar cell market.
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The Asia-Pacific Region to Dominate the Market
- Asia-Pacific accounted for the major market share of tellurium and is expected to continue dominating the market during the forecast period.
- Tellurium is used in solar cells, semiconductors, consumer electronics, thermoelectric devices, metallurgy for alloys, rubber vulcanization, synthetic fiber catalysts, photoreceptors, blasting caps, and as a pigment for glass and ceramics, most of which have Asia-Pacific as their dominant markets.
- China, leveraging its vast mining operations, solidifies its position as the world's leading tellurium producer. This dominance ensures a steady supply of raw materials, greatly benefiting China's electronics, semiconductors, and solar cell sectors.
- A report from the Institute of Energy Economics and Financial Analysis (IEEFA) in 2024 highlighted that India's export value of PV modules surged over 23 times in just two years, from fiscal years 2022 to 2024.
- As per IBEF, India's solar energy capacity has surged 26-fold over the past nine years, reaching 73.32 GW by December 2023. In 2023 alone, India augmented its solar power capacity by 7.5 GW, and in January 2024, the addition was a notable 9008.47 MW. This anticipated growth is largely attributed to the Ministry of New and Renewable Energy's draft amendments.
- With the global shift towards electric vehicles (EVs), the semiconductor sector is pivoting towards eco-friendly equipment. This move is poised to amplify demand, signaling another phase of double-digit growth in 2025. Consequently, in Japan, JEITA anticipates a 3% rise in domestic output, forecasting it to hit JPY 11,646.3 billion (USD 77.36 billion) in 2025, up from JPY 11,298.4 billion (USD 76.47 billion) in 2024.
- Therefore, the demand for tellurium is estimated to increase at the fastest rate in the Asia-Pacific region over the forecast period.
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Tellurium Industry Overview
The tellurium market is consolidated, and some of the key players are Aurubis AG, Central Drug House, Mitsubishi Materials Corporation, Sidhartha Metals, and Rio Tinto.
Tellurium Market Leaders
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Aurubis AG
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Central Drug House
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Mitsubishi Materials Corporation
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Rio Tinto
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Sidhartha Metals
- *Disclaimer: Major Players sorted in no particular order
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Tellurium Market News
- April 2023: At its Kennecott copper operations near Salt Lake City, Utah, Rio Tinto has found an innovative method to extract tellurium from the slime produced during copper smelting. This anode-slime waste, generated during the smelting process, is laden with valuable metals, including silver, gold, selenium, and tellurium. The company channels this extracted waste slime through a specialized tellurium circuit. This circuit employs copper chips, elevated temperatures, and agitation, resulting in the production of copper telluride as a byproduct. After processing the slimes, the resultant solution undergoes treatment to eliminate any lingering impurities, which are then discarded as tailings.
- May 2022: Rio Tinto has commenced tellurium production at its Kennecott copper operation in Utah, positioning itself as one of just two U.S. producers of this vital mineral, which is essential for advanced thin-film photovoltaic solar panels. A newly constructed USD 2.9 million circuit at the Kennecott refinery is set to yield approximately 20 tons of tellurium annually. Under a commercial agreement, the refined tellurium will be processed in North America by 5N Plus, a prominent global player in specialty semiconductors and performance materials, in collaboration with Rio Tinto.
Tellurium Industry Segmentation
Tellurium, a rare and brittle chalcogen metalloid with a silvery-white hue, boasts a modest global demand across various applications. As one of Earth's rarest elements, tellurium is carving out a pivotal role in the clean energy movement, driving enhancements in efficiency, cost-effectiveness, and scalability, which are key components in achieving global renewable energy aspirations. Globally, copper and copper-gold porphyry-type deposits serve as the primary sources of tellurium, extracted as a byproduct during copper refining. Therefore, tellurium production is highly dependent on the copper refining industry.
The tellurium market is segmented by product type, application, and geography. By product type, the market is segmented into pure metal, powder, compounds, and others. By application, the market is segmented into solar cells, thermo-electric appliances, electronics, mercury-cadmium-telluride, thermal imaging devices, metallurgy, and other applications. The report offers market size forecasts for the cadmium market in over 27 countries across major regions. For each segment, the market sizing and forecasts have been made on the basis of volume(tons).
| Product Type | Pure Metal | ||
| Powder | |||
| Compounds | |||
| Others | |||
| Application | Solar Cells | ||
| Thermo-electric Appliances | |||
| Electronics | |||
| Mercury-Cadmium-Telluride | |||
| Thermal Imaging Devices | |||
| Metallurgy | |||
| Other Applications | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Thailand | |||
| Malaysia | |||
| Indonesia | |||
| Vietnam | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Spain | |||
| Turkey | |||
| Russia | |||
| Nordic Countries | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Colombia | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| South Africa | |||
| Nigeria | |||
| Qatar | |||
| Egypt | |||
| United Arab Emirates | |||
| Rest of Middle-East and Africa | |||
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Tellurium Market Research FAQs
How big is the Tellurium Market?
The Tellurium Market size is expected to reach 663.08 tons in 2025 and grow at a CAGR of 5.12% to reach 851.12 tons by 2030.
What is the current Tellurium Market size?
In 2025, the Tellurium Market size is expected to reach 663.08 tons.
Who are the key players in Tellurium Market?
Aurubis AG, Central Drug House, Mitsubishi Materials Corporation, Rio Tinto and Sidhartha Metals are the major companies operating in the Tellurium Market.
Which is the fastest growing region in Tellurium Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Tellurium Market?
In 2025, the Asia Pacific accounts for the largest market share in Tellurium Market.
What years does this Tellurium Market cover, and what was the market size in 2024?
In 2024, the Tellurium Market size was estimated at 629.13 tons. The report covers the Tellurium Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Tellurium Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Tellurium Industry Report
Statistics for the 2025 Tellurium market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Tellurium analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
