The global Silicon Wafer Market is growing rapidly, mainly due to rapidly growing end-use industries, including solar cells, mobile phones, electronics, and wireless communication devices. With the vast consumption of silicon wafers in consumer electronics, smartphones, military weapons, and devices used in telecom & automotive systems, the market is projected to demonstrate vast opportunities.
In this regard, Market Research Future (MRFR) states that the silicon wafer market will reach a valuation of USD 15.24 BN by 2030, growing at a 4.1% CAGR during the review period (2022-2030). Additional factors substantiating the market growth include vast advancements in electronics industries and silicon wafer technology worldwide. Improvements in 4G and 5G networks and the global economy have been influencing market value.
Furthermore, increasing sales of solar panels and solar cells boost the silicon wafer market size, headed by the growing demand for solar energy. Conversely, the high production cost of silicon wafers is a major factor impeding market growth. Nevertheless, rapidly growing semiconductor and sensor markets would support the market growth throughout the forecast period.
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Today, advanced sensors are used in IoT applications based on MEMS (microelectromechanical systems) and manufactured on silicon wafers, using methods developed for making semiconductor ICs. Also, these MEMS sensors use microscopic mechanical structures to detect motion, sound, pressure, light, and even types of gas. Rising sales of consumer electronic devices due to their increasing use are major driving forces behind the market growth.
Silicon wafers are also used in the production of nanomaterials and microscopic computer systems. The growing trend of miniaturized electronics products and portable devices creates several opportunities for market players. The rapidly growing mobile phone industry and the proliferation of wireless communication devices push market revenues.
Additionally, the rising use of various electronic devices like smartphones, computers, a number of military weapons, and other connected devices create significant market opportunities. The growing adoption of semiconductor devices in automotive, healthcare, aerospace & defense, and consumer electronics sectors boosts the market size. Increasing silicon wafer applications in voice identification, machine vision, and video monitoring systems influence market value.
The burgeoning semiconductor and sensor markets foster market shares. Also, the rising use of ubiquitous technologies like AI and ML is predicted to bolster market growth in future years. Furthermore, the rising need for better-performing ICs and growing demand for quantum computers & chips are major trends defining the growing market landscape.
Market Size in 2030
USD 15.24 Billion
CAGR of 4.1% from 2022 to 2030
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Silicon Wafer Market Segments
The report is segmented into type, diameter, application, and region. The type segment is bifurcated intopolished wafers, epitaxial wafers, SOI wafers, diffused wafers, and others. The diameter segment is bifurcated into 100 nm to 150 nm, 200 nm, 300nm, and 450 nm and above.
The application segment is bifurcated intoRF electronics, MEMs, automotive, consumer electronics, photonics, and others. The region segment is bifurcated intoNorth America, Europe, Asia-Pacific, the Middle East & Africa, and others.
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Silicon Wafer Market Regional Analysis
The Asia Pacific region dominates the global silicon wafer market. APAC has long been attracting foreign investors with its raw material advantage and the availability of cost-competitive workforces. Also, large numbers of semiconductor and SiC manufacturing companies in the region boost the market size. Silicon manufacturers in the region are working on fostering output and secure investments.
Silicon wafer manufacturers in Asia usually have lesser carbon footprints due to the ample availability of renewable energy sources for production and reduced logistics-related emissions. Besides, the growing demand for technologically advanced gadgets such as computers, laptops & tablets and the rising numbers of smartphone users influence the region's market share. Countries like Japan, South Korea, China, and India account for leading silicon wafers markets in the region.
Highly competitive, the global silicon wafer market appears fragmented due to the presence of many well-established players. There is a rising demand for new products that would helpleading silicon carbide (SiC) chipmakers accelerate silicon wafer production and increase chip performance & power efficiency. Silicon wafer manufacturers strive to reduce their carbon footprint and build a procurement strategy of sourcing raw materials such as polysilicon from the US and Germany.
They accelerate their production to ensure to bring more silicon products to the market to support the industry as it scales up and fulfill their ambitions of growing at pace. Industry players work on doubling the die output per wafer, meeting the growing global demand for premium electric vehicle powertrains. They incorporate strategic approaches, such as acquisition, partnership, collaboration, expansion, and product/technology launch, to gain a competitive advantage and stay at the market forefront.
For instance, on August 16, 2022, Meyer Burger announced signing a binding agreement with Norwegian Crystals to secure silicon wafer supplies for its cell production in Germany. The companies have been discussing on possibilities of expanding wafer deliveries over the years ahead. Meyer Burger's growth plans include making its cell production as strategically independent as possible.
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Players leading the silicon wafer market include Shin Etsu (JP), Siltronic (DE), Sumco (JP), MEMC (US), SAS (TW), LG Siltron (KR), Okmetic (FI), SST (CN), Shenhe FTS (CN), JRH (CN), GRITEK (CN), CL (CN), Wafer Works (TW), Simgui (CN), and Zhonghuan Huanou (CN), among others.
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