Published on : Nov 19, 2019
A report titled, “Lithium Tantalate Crystal Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027,” has been recently published by ResearchMoz.us. The report helps its readers with inputs such as market size, share, important trends, regional outlook and profit projection in the business sphere. Further, it enlightens users regarding latest growth strategies adopted by the players in the lithium tantalite crystal market
The competitive landscape of the lithium tantalite crystal market is moderately fragmented with the presence of several prominent players. Sumitomo Metal Mining Co., Ltd and Shin-Etsu Chemical Co., Ltd. are dominating the market with nearly 25-35% of share. Other leading payers operating in the lithium tantalate crystal market are Oxide Corporation, Orient Tantalum Industry, Korth Kristalle, Castech, Crystalwise, Shanghai Dongcheng Electronic Materials, and United Crystal. These players are adopting several strategies to outgun their rivals and strengthening their presence in overseas territories. Some of the organic growth strategies used by players in the lithium tantalate crystal market are acquisitions, mergers, collaboration and business expansion.
The global lithium tantalate crystal market is projected to witness a stellar growth in the coming few years. This is mainly due to the increasing preference of lithium tantalate crystal over traditional crystal such as quartz and lithium niobate. Telecommunication industry holds immense growth opportunities for the lithium tantalate crystal owing to the increasing need for high speed in the telecommunication industry. Other than this, increasing application of advanced technologies in businesses, unpreceded rise in urbanization and need for high-speed internet to perform business automation are some other factor expected to fuel the global lithium tantalate crystal market in the near future.
Blooming Telecom Industry Fuel Growth
Along with this, rollout of 5G networks, emergence of optical fibres and favourable initiatives taken by the governmental bodies are expected to uptick the demand for lithium tantalite crystal in the deployment of broadband networks. Thus rising applications of the lithium tantalite crystals in communication system to minimize energy loss are offering several lucrative opportunities for the growth of the lithium tantalite crystal market.
Strong electro-mechanical coupling properties offered by lithium tantalate crystal over default crystal for optical, telecommunication, semiconductor, construction, and electronics industries is another expected to fuel the lithium tantalate crystal market. The market is expected to gain from the distinguishing characteristics of lithium tantalate crystal.
Despite several drivers growth in the lithium tantalate crystal market may hamper due to the week supply chain system. Additionally, high consumer negotiating power and presence of substitutes at a lower price are some other factors projected to change the growth of the lithium tantalate crystal market.
Nevertheless, rising demands from semiconductor industry for the manufacturing of efficient smartphones, tablets, desktops, and laptops is enabling manufacturers to adopt lithium tantalate crystal over quartz. This is expected to unlock revenue streams from the semiconductor industry for lithium tantalate crystal during the coming years.
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Asia Pacific to Hold Maximum Growth Opportunities in the Market
On the basis of geography, the lithium tantalate crystal market is broadly classified into the Asia Pacific, North America, Europe, Latin America and the Middle East and Africa. Among these region, Asia Pacific is projected to hold maximum growth opportunities in the lithium tantalate crystal industry. This is mainly due to the presence of several manufacturers in the regions and presence of several end user industries.