Transparency Market Research delivers key insights into the global lithium tantalate crystal market. In terms of revenue, the global lithium tantalate crystal market is estimated to expand at a CAGR of 5.5% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global lithium tantalate crystal market.
Lithium tantalate crystals possess different characteristics in terms of optical, piezoelectric and pyroelectric properties. These crystals also have good mechanical properties. They have a wide transparency range and a very high optical damage threshold. Lithium tantalate crystals are produced by the Czochralski process, which yields large-sized and high-quality single crystals. Lithium tantalite, or LiTaO? crystals, are widely used in applications such as electro-optical modulators, pyroelectric detectors, piezoelectric transducers, and acoustic wave devices. Compared to quartz, lithium tantalate has a much stronger electromechanical coupling and a larger number of zero-temperature coefficient cuts of resonant frequency. As a result, these crystals are applied in communications for acoustic resonator filters of high bandwidths.
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In this research report, TMR proposes that, the optical grade type segment is estimated to outpace other type segments of the global lithium tantalate crystal market by 2027. The growing use of lithium tantalate crystals of optical grade in electro-optical devices is the key reason for the increasing demand for lithium tantalate crystals across the globe. Also, the growing use of SAW devices is expected to drive the global lithium tantalate crystal market from 2019 to 2027. For instance, in October 2017, Castech Inc. announced the launch of a new production line for laser and telecom industries. This production line consists of electro-optical switches, isolators, and collimators. This move is estimated to widen the company’s product portfolio, and complement its existing strengths in the fields of telecom and laser. In addition to this, various benefits offered by lithium tantalate crystals over other crystals drive the global lithium tantalate crystal market. However, the high costs of lithium tantalate crystals and the complex production process are likely to adversely impact the global lithium tantalate crystal market during the forecast period. However, new production processes are being developed to reduce the cost of lithium tantalate crystals.
Global Lithium Tantalate Crystal Market: Prominent Regions
Asia Pacific is estimated to present prominent growth opportunities to the lithium tantalate crystal market in the near future, owing to the presence of a large number of manufacturers in the region. Also, the increasing use of telecommunication, IoT, and 5G technologies in economies such as China, India, and Japan is promoting the Asia Pacific lithium tantalate crystal market. In the developed regions of North America and Europe, the increasing use of electro-optical devices plays a significant role in driving the lithium tantalate crystal market. The Middle East and South America are expected to present moderate growth opportunities to the lithium tantalate crystal market in the near future.
Key manufacturers of lithium tantalate crystals are displaying synergies through collaborations in the areas of sales, marketing, and production. Manufacturers are also expanding through organic methods, such as increasing in production capacity, so as to meet the rising demand.
Global Lithium Tantalate Crystal Market: Key Players
Key players operating in the global lithium tantalate crystal market are Precision Micro-Optics Inc., Korth Kristalle GmbH, Castech Inc., Hangzhou Freqcontrol Electronic Technology Ltd., Sumitomo Metal Mining Co., Ltd., Shin-Etsu Chemical Co., Ltd, Yamaju Ceramics Co., Ltd., American Elements, United Crystals, Del Mar Photonoics Inc., and Oxide Corporation.