Coltan is used primarily for the production of tantalum capacitors, used in many electronic devices. Many sources mention coltan's importance in the production of cell phones, but this is an over-simplification, as tantalum capacitors are used in almost every kind of electronic device.

It is also used in high temperature alloys for air and land based turbines. The upsurge in electronic products over the past decade resulted in a peak in late 2000, lasting a few months. In 2005 the price was still down at early 2000 levels. The United States Geological Survey estimates that tantalum production capacity could meet global demand, which is growing at four percent annually, at least until the year .