NEW YORK, May 11, 2021 /PRNewswire/ --Technological improvements have been gaining significant traction in tantalum capacitors over the past couple of years. As a result, tantalum capacitors are used in a wide variety of circuits, electronic gadgets, automotive industry, cell phones, and others, most often in the form of Surface Mounted Devices (SMDs). Very less space is claimed by these surface mount tantalum capacitors on printed circuit boards, which allows for greater packing densities.
With rapid increase in the use of electronic gadgets, demand for capacitors is also increasing, thereby promoting growth of the market. Tantalum capacitors have numerous applications because of their long-term stability, high capacity, reliability, and low leakage current. Hence, they are used in sample and hold circuits, medical devices, audio amplifiers, and also for power supply filtering on motherboards of electronic gadgets such as laptops and cell phones
Demand for wet tantalum capacitors is projected to grow at a significant rate over the forecast period, owing to their superior features such as volumetric efficiency, high reliability, electrical stability over a wide temperature range, and long service life.
Surface mount capacitors are expected to hold a majority of the market share. However, over the coming years, leaded/through-hole mount capacitors are likely to grow at a significant rate of nearly 7%.
The industrial segment is estimated to contribute a major market share in 2031. However, the automotive segment is expected to grow at the highest CAGR, owing to wide range of application in automotive electronics, ranging from cabin entertainment, airbags, and ABS, to under hood applications and autonomous car control systems.
Among the regions, the market in South Asia & Pacific is estimated to register the highest CAGR. The region is primarily driven by increase in demand from end-user industries such as electronics, aerospace, and medical equipment.
In the U.S., sales are expected to increase at a CAGR of over 3% over the next ten years.
The market in India is expected to progress at a noteworthy CAGR of more than 12% through 2031.
The market for tantalum capacitors in the U.K. and China is expected to surge ahead at CAGRs of around 8% and 6%, respectively.
"Over the past decade, tantalum capacitors have gained popularity in avionic, military designs, and the medical field. Today, manufacturers of tantalum capacitors have set their sights on the automotive industry as the next area of growth," says a Persistence Market Research analyst.
Automotive Industry to Create Lucrative Growth Opportunities
The automotive industry is one of the most targeted for passive component development. One of key trends in automotive is rapid expansion of data handling and data communication associated with requirements for high computing power capabilities. There are a number of communication requirements within the vehicle environment –networks, traffic infrastructure, homes, smart cities, vehicle to vehicle, and pedestrians. Vehicles are becoming their own supercomputers and have high data cloud storage.
Therefore, tantalum capacitor manufacturers are focusing on developing new and advanced products for automotive applications, owing to the high potential offered by the automotive industry. Advancements in technology in the automotive industry are expected to offer significant growth opportunity for tantalum capacitor manufacturers over the coming years.
Persistence Market Research's report on the tantalum capacitors market is segmented into four major sections – type (solid tantalum capacitors, wet tantalum capacitors, and polymer tantalum capacitors), mounting (surface mount and leaded/through-hole), application (medical devices, consumer electronics, military & aerospace, automotive, industrial, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate the lucrative opportunities in the market.
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