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Navigating the Future: Cadmium Telluride Market Trends and Forecast Insights, 2025 Edition
Cadmium Telluride
Cadmium Telluride Market Size Growth Forecast: What to Expect by 2025?
The market of cadmium telluride has witnessed swift expansion in recent times. Projected to rise from a $5.41 billion valuation in 2024 to $6.08 billion in 2025, it is set to achieve a compound annual growth rate (CAGR) of 12.5%. Factors such as early integration into solar technology, the implementation of renewable energy policies, affordable production methods, requirements for industrial automation, and concentration on energy efficiency have contributed to the growth in the past years.
How Will the Cadmium Telluride Market Size Evolve and Grow by 2029?
Cadmium telluride market growth is anticipated to accelerate in the coming years with a projected value of $9.11 billion by 2029 and a compound annual growth rate (CAGR) of 10.6%. The expansion over the prediction period is attributable to the heightened emphasis on sustainable energy, escalating demand for electronics, the development of smart cities, increased installations of solar power, and wider use in medical devices. The upcoming years could also witness a drift towards sustainable energy solutions, enhanced focus on recycling technologies, involvement in next-generation electronics, greater function in energy storage, and more collaborative efforts in the industry.
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What Drivers Are Propelling the Growth of Cadmium Telluride Market Forward?
The cadmium telluride market is predicted to expand as a result of the growing adoption of renewable energy. Renewable energy is energy that is harvested from perpetually renewing resources like sun, wind, and water, making it a sustainable and eco-friendly energy source. Cadmium telluride is instrumental in amplifying the usage of renewable energy as it is a cost-effective and high-performing material in the creation of photovoltaic solar cells, which transform the collected sunlight into electricity. For example, as revealed by the Department for Energy Security and Net Zero in the United Kingdom in December 2023, the production of renewable electricity landed at 30.1 TWh in the third quarter of 2023, indicating a 6.8% rise in comparison to the equivalent quarter in 2022. This increase was due to the installation of 2.9 GW of fresh renewable capacity, particularly in solar PV and wind installations, which caused renewables to account for 44.5% of overall electricity production. Consequently, the escalating consumption of renewable energy is fueling the expansion of the cadmium telluride market.
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Which Emerging Trends Are Transforming the Cadmium Telluride Market in 2025?
Key players in the cadmium telluride market are establishing strategic alliances to enhance their market position. Such alliances are typically between organizations involved in the production, creation, or implementation of solar panels utilizing cadmium telluride technology. In July 2022, for example, Toledo Solar, an American nanotechnology firm, joined forces with SEDC Solar, a company specializing in the provision of cadmium-telluride solar panels. The objective behind this collaboration is to cater to the increasing market demand for solar panels and to deliver high-value, responsibly produced solar items to residential houses, churches, and businesses across the United States.
What Are the Key Segments in the Cadmium Telluride Market?
The cadmium telluride market covered in this report is segmented -
1) By Product: Powder, Crystal, Other Products
2) By Application: Solar Battery, Semiconductor, Laboratory Equipment, Other Applications
3) By End User: Residential, Commercial, Industrial, Utility
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Who Are the Key Players Shaping the Cadmium Telluride Market's Competitive Landscape?
Major companies operating in the cadmium telluride market report are General Electric Company, China National Building Materials Co. Ltd, Jinko Solar, Hanwha Q CELLS Co. Ltd., Amptek Inc., First Solar Inc., National Renewable Energy Laboratory (NREL), China Sunergy Co. Ltd., Abound Solar (United Power), 5N Plus, RenewSys, Astronergy Solar, Green-tech, Kurt J. Lesker Company, AVANCIS GmbH, Janos Technology LLC, Global Solar Energy Inc., Antec Solar Energy AG, Calyxo GmbH, Lucintech Inc., Advanced Solar Power (Hangzhou) Co. Ltd., Dmsolar LLC, PrimeStar Solar, D2 Solar LLC, MaTecK GmbH, Reel Solar, Xunlight Corporation, Shanghai Chaori Solar Energy Science & Technology Co. Ltd
What Geographic Markets Are Powering Growth in the Cadmium Telluride Market?
North America was the largest region in the cadmium telluride market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cadmium telluride market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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