This report sheds light on segments with a higher market share so that players can invest accordingly and take informed business decisions. In addition, it thoroughly studies the vendor landscape and dynamics of the global germanium market. With an unimpressive CAGR of -6.94%, the global consumption of germanium decreased from 213.0 tonne to 159.7 tonne in 2017. However, by the end of 2024, it is expected to grow marginally and is likely to reach 168.6 tonne despite the environmental pressure in China.
Global Germanium Market: Drivers and Restraints
Miniaturization of electronic components is one of the rising trends creating rewarding prospects in the global germanium market. Increase in the production of compact electro-mechanical components could support the growth of the global germanium market. Recent advancements observed in the semiconductors industry is also anticipated to bode well for the global germanium market. The adoption of light and small electronic components in the aerospace sector could catapult the global germanium market.
Increase in the number of solar installations is predicted to help the global germanium market to gain momentum in the coming years. Asia Pacific witnesses high demand for solar panel to generate electricity.
However, there are some factors that reflect negatively on the global germanium market. For instance, the imbalance in demand and supply could result into a shortage of germanium, thus pulling back the growth of the market.
Global Germanium Market: Forecast by Application
The global germanium market is classified into electronic and solar, polyethylene terephthalate (PET), fiber optics, infrared (IR) optics, and others. Among these, IR optics is projected to have a remarkable market potential. It could exhibit a 2.0% CAGR between 2017 and 2024. However, it may not surpass fiber optics in terms of consumption. In 2017, it held the second position in the global germanium market as it collected a larger consumption share of 26.21%.
On the other hand, fiber optics proved itself as the largest consumption field for germanium in 2017. It recorded a consumption of 53.4 MT in the same year.
Global Germanium Market: Forecast by Product
By product, the global germanium market is segmented into germanium ingot, high-purity GeO2, germanium tetrachloride, and others. These germanium products find use in electronics, solar, healthcare, and other industries.
Global Germanium Market: Forecast by Region
The report assesses the global germanium market on the basis of six regions and countries. As per its findings, China shows the largest production of germanium. Moreover, it has the largest germanium reserve. In 2017, it accounted for a 65.23% of the total global production of germanium. It witnessed a production of approximately 104.2 tonne in the same year.
Global Germanium Market: Key Players
The global germanium market includes top suppliers such as AXT Inc., Zhonghao Technology, Teck, Yunnan Chihong Zn & Ge, and Umicore. Securing a 25.24% production share, Yunnan Germanium leads the global germanium market. As observed by the market analysts, a high number of germanium suppliers are based in China.
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