Germanium Market Size, Share, Growth, Forecast 2030

Germanium Industry Prospective:

The global germanium market size was worth around USD 292 million in 2022 and is predicted to grow to around USD 384 million by 2030 with a compound annual growth rate (CAGR) of roughly 3.5% between 2023 and 2030.

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The report analyzes the global germanium market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the germanium industry.            

Germanium Market: Overview

The chemical element germanium, sometimes known as Ge, has an atomic number of 32 and is classified in period 4 of the periodic table of elements. It is a carbon group compound that is a hard, brittle, silvery-white semimetal. Its physical characteristics are comparable to those of tin (stannum) and silicon (silicium). The amount of germanium in the earth's crust is 6.7 parts per million (ppm), which is broadly spread. This element either naturally exists as a sulfide or is present in mixtures with other elements' sulfides, especially those of copper, zinc, lead, tin, and antimony. Despite being a poor conductor of electricity, it has remarkable semiconductor qualities and is mostly employed in the electronics sector. The germanium market is being driven by various factors such as the growing electronics industry, increasing renewable investments, growing investments in network infrastructures, and others.

Key Insights

• As per the analysis shared by our research analyst, the global germanium market is estimated to grow annually at a CAGR of around 3.5% over the forecast period (2023-2030).
• In terms of revenue, the global germanium market size was valued at around USD 292 million in 2022 and is projected to reach USD 384 million, by 2030.
• The growing electronics and solar industries are expected to propel germanium market expansion over the projected period.
• Based on the type, the Germanium Tetrachloride segment is expected to hold a substantial market share during the forecast period.
• Based on the application, the electronics and solar segment is expected to dominate the market during the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market over the forecast period.

Germanium Market: Growth Drivers

Growing demand from the electronics industry drives the market growth

The worldwide Germanium market is anticipated to be driven by the electronics industry, which is a significant user of Germanium. Diodes, transistors, and rectifiers in electronics utilize germanium to carry out most tube-related tasks as well as some tasks that tubes are unable to carry out. Compared to their tube contemporaries, germanium and transistors are lighter, smaller, and less expensive. They use a lot less electricity to operate since they don't need heat or a hot filament. They have advanced due in part to the much-heralded technological revolution since they seem to have an endless lifespan and are stress-resistant. Thus, this is expected to drive the global germanium market growth during the forecast period.

Germanium Market: Restraints

Limited availability and dependency on by-products restrict the market growth

Germanium is not commonly found in high amounts in the Earth's crust, although it may be found there in specific minerals like germanite and argyrodite. As a result, compared to other metals, the availability of germanium is rather constrained worldwide. In addition, germanium is mostly obtained as a by-product of the processing of zinc ore. Germanium is extracted from the smelting-related flue dust by zinc smelters. As a result, the production of germanium is dependent on the zinc market, and changes in the demand for and price of zinc can have an impact on the availability of germanium. Thus, this is expected to act as a major restraint for the germanium industry growth during the forecast period.

Germanium Market: Opportunities

Increasing demand for solar cells offers a significant opportunity

Germanium tetrafluoride is a chemical compound that is employed in the creation of extremely effective solar cells, making solar cells one of the most significant applications for this material. Due to the increased need for renewable energy sources, there is an increase in the demand for solar cells globally, which is anticipated to propel germanium market expansion during the forecast period. For instance, the India Brand Equity Foundation's statistics show that by 2030, India hopes to have constructed 450 GW of renewable energy capacity, of which 280 GW is estimated to come from solar. Similar to this, SolarPower Europe launched a new platform in May 2020 called Solar Manufacturing Accelerator to increase the manufacturing of solar panels in Europe. Thus, this is expected to provide a lucrative opportunity for market growth over the forecast period.

Germanium Market: Challenges

Stringent regulations pose a major challenge to the market growth

The usage of germanium tetrafluoride is closely regulated by different regulatory authorities due to its negative impact on human health and the environment, which may impede germanium market expansion during the projected period. When this chemical compound comes into contact with water, it produces poisonous and acidic hydrofluoric acid. Excessive exposure to germanium tetrafluoride causes skin irritation and respiratory difficulties. As a result, the Occupational Safety and Health Administration controls the use of germanium tetrafluoride, with a permitted exposure limit of 2.5 mg/m3. Due to the dangerous impact of germanium tetrafluoride, such tight monitoring and restrictions may impede market growth over the projection period.

Germanium Market: Segmentation

The global germanium industry is segmented based on type, application, and region.

Based on the type, the global market is bifurcated into High Purity GeO2, Germanium Tetrachloride, Germanium Ingot, and Others. The Germanium Tetrachloride segment is expected to hold a substantial market share during the forecast period. Germanium tetrachloride is a colorless fuming liquid with an odd, acidic odor. It is employed as an intermediary in the synthesis of pure germanium metal. GeCl4 consumption has expanded significantly in recent years due to its use as a reagent in fiber optic fabrication. Moreover, Germanium tetrachloride is used in the production of germanium metal, which is used as a semiconductor material in electronic devices like transistors and diodes. Germanium's unique electrical properties, such as its ability to operate at high temperatures. Thereby, driving the segment growth over the forecast period.

Based on the application, the global germanium industry is divided into Fiber Optics, IR Optics, Electronics & Solar, PET, and Others. Electronics and solar are expected to dominate the market during the forecast period. The segment growth is attributed to the growing electronics and solar sectors. For instance, according to the data by SEIA, in 2021, more than 255,000 Americans will be employed in solar at more than 10,000 enterprises throughout the country. The solar business is expected to produce over $33 billion in private investment in the American economy. Thus, driving the segment growth.

Germanium Market: Report Scope

Germanium Market: Regional Analysis

The Asia Pacific is expected to dominate the market during the forecast period

The Asia Pacific is expected to dominate the global germanium market over the forecast period. The growth in the region is attributed to the increasing electronics and solar industry. The growth in the region is particularly driven by the countries like India and China. For instance, according to secondary analysis, the industrial output of the Indian electronics industry was more than 6.4 trillion Indian rupees in the fiscal year 2022. Particularly the production of mobile phones is one of the fastest-growing industries in India. India is on course to become a manufacturing powerhouse for electronics in the future because of favorable government policies and regulatory support for the sector, as well as rising local and international demand.

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Additionally, according to the International Energy Administration, since 2011, China has spent more than USD 50 billion in new PV supply capacity, ten times more than Europe, and more than 300,000 manufacturing jobs have been generated along the solar PV value chain. Ingots, wafers, cells, and modules made from polysilicon, for instance, account for more than 80% of the total solar panel production today in China. This is more than twice as much of the global PV market as China. The top 10 providers of solar PV manufacturing equipment in the world also make this nation home. Solar PV costs have significantly decreased owing in large part to China, which offers several advantages for the shift to sustainable energy. Thus, this is expected to drive the market growth in the region.

Germanium Market: Competitive Analysis

The global germanium market is dominated by players like:

• JSC Germanium
• China Germanium Co. Ltd
• Teck
• Umicore N.V.
• Yunnan Chihong Zinc & Germanium Co. Ltd
• Shaoguan Smelting Plant
• Hangzhou Zhonghao Technology Co. Ltd
• Yunnan Lincang Xinyuan Germanium Industry Co. Ltd
• Yunnan Luoping Zinc & Electricity Co. Ltd
• PPM Pure Metals GmbH
• Others.

The global germanium market is segmented as follows:

By Type

• High Purity GeO2
• Germanium Tetrachloride
• Germanium Ingot
• Others

By Application

• Fiber Optics
• IR Optics
• Electronics and Solar
• PET
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa