Global Cadmium Telluride Market: Overview
Cadmium telluride (CdTe) is rapidly gaining acceptance and now represents one of the most widely used solar cell materials around the world. CdTe based solar panels are arguably the first and the only thin film photovoltaic technology (PV) to have surpassed the solar crystalline silicon PVs based on cheapness across a significant share in the global PV market.
CdTe is a compound obtained from tellurium and cadmium. It finds use in infrared optical material and solar cells used in optical windows and lenses. It is also used in photovoltaic cells to convert sunlight into electricity. The demand for CdTe-based products has gained considerable impetus over the last decade as they are relatively cheaper and requires simplified manufacturing compared to other materials. These products are also used in electro-modulators because they are more electro-optic coefficient than other compounds.
The report presents a comprehensive analysis of the global market for cadmium telluride, identifying the drivers and restraints influencing its trajectory. The impact of the recent developments and innovations on the overall market operation is studied in detail for a better perspective of the market’s current state. Aimed at updating stakeholders about the prevailing market dynamics and potential growth, the report presents a detailed profile of companies operating in the global CdTe market.
Global Cadmium Telluride Market: Trends and Opportunities
The global cadmium telluride market is primarily driven by the soaring demand for photovoltaic solar cells. The depleting conventional energy sources has been creating lucrative opportunities for the global CdTe market, in terms of bolstering the demand for energy derived from renewable sources. Because solar cells represent a major application segment for the CdTe, growing dependence on the same will accelerate pace of gains for enterprises operating in the CdTe market as well.
With governments across the world increasing their investments and initiatives in the solar energy sector, the future of the global CdTe market looks quite promising. Despite witnessing positive growth opportunities, stringent regulatory policies, shortage of tellurium supply, and the comparatively low level of efficiency associated with cadmium telluride could restraint the market’s growth over the forecast period between 2016 and 2024.
Nevertheless, factors such as abundant availability of cadmium, ease of manufacturing, and the fact that CdTe can absorb sunlight almost to its ideal wavelength, will continue fuelling opportunities for the market through the forecast period.
Global Cadmium Telluride Market: Regional Outlook
In 2012, Europe emerged as the dominant market for cadmium telluride. The rising demand for thin film solar cells has been fuelling the demand for CdTe in the region. However, growth witnessed by the market in Europe is restrained due to the recent economic downturn witnessed in the region. Besides Europe, the demand for thin film solar panel is high in North America thus providing lucrative opportunities for the CdTe market.
During the course of the forecast period, the market is expected to witness attractive prospects in the developing economies of Asia Pacific and Rest of the World. The demand for cadmium telluride across these nations is projected to witness at a stable pace.
Companies Mentioned in Report
To study the competition prevailing in the market, the report has profiled companies such as Advanced Solar Power., Lucintech, Calyxo GmbH, and First Solar Inc.
Global Cadmium Telluride Market is segmented as:
Global Cadmium Telluride Market, by Geography
- North America
- Asia Pacific
- Rest of the World
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