U.S.: Tantalum Market 2024

Tantalum Market Size in the U.S.

The U.S. tantalum market soared to $X in 2022, jumping by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a strong expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Tantalum Exports

Exports from the U.S.

In 2022, shipments abroad of tantalum increased by 16% to X tons, rising for the third year in a row after two years of decline. Over the period under review, total exports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 46%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, tantalum exports amounted to $X in 2022. In general, total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.9% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 29% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico (X tons), Germany (X tons) and El Salvador (X tons) were the main destinations of tantalum exports from the United States, together accounting for 91% of total exports. Japan and Israel lagged somewhat behind, together comprising a further 6.2%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +22.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tantalum exported from the United States were Mexico ($X), Germany ($X) and El Salvador ($X), with a combined 88% share of total exports. Japan and Israel lagged somewhat behind, together accounting for a further 7.5%.

In terms of the main countries of destination, Japan, with a CAGR of +21.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tantalum export price amounted to $X per ton, reducing by -3.5% against the previous year. Overall, the export price continues to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2018 an increase of 19%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (-1.0%), while the prices for the other major destinations experienced a decline.

Tantalum Imports

Imports into the U.S.

In 2022, purchases abroad of tantalum increased by 12% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 46% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, tantalum imports skyrocketed to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.5% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 33%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), China (X tons) and Kazakhstan (X tons) were the main suppliers of tantalum imports to the United States, with a combined 77% share of total imports. Thailand, Japan, Estonia and Rwanda lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +20.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tantalum suppliers to the United States were Germany ($X), China ($X) and Thailand ($X), together accounting for 80% of total imports. Kazakhstan, Japan, Estonia and Rwanda lagged somewhat behind, together comprising a further 18%.

Japan, with a CAGR of +18.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tantalum import price stood at $X per ton in 2022, picking up by 13% against the previous year. Overall, the import price, however, continues to indicate a mild contraction. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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