Silicon Wafers Market Worth USD 11,889.0 Million by 2025 at 3.19% CAGR – Report by Market Research Future (MRFR)
New York, US, Aug. 23, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Silicon Wafers Market information by Material, Type, Application, Wafer Size and Region – forecast to 2027” the market was valued at USD 9,621.5 Million in 2019; it is expected to reach USD 11,889.0 Million by 2025 at a CAGR of 3.19%.
Silicon Wafers Market Scope:
Silicon wafers are used in semiconductors manufacturing found in all types of electronic devices. Semiconductor technology holds the potential to completely transform industries such as healthcare, manufacturing, and aerospace & defense, offering various innovative electronic devices. Resultantly, silicon wafers are witnessing exponential traction from venture capitalists and government bodies.
Resultantly, the Silicon Wafer Market is witnessing increased funding and support from the public and private organizations. With substantial investments from OEMs, the market is projected to perceive exponential gains in the years to come.
Today’s advanced sensors for IoT applications are based on MEMS (microelectromechanical systems) and fabricated on silicon wafers using methods originally developed for making semiconductor ICs. These MEMS sensors use microscopic mechanical structures to detect motion, sound, pressure, light, and even types of gas.
Dominant Key Players on Silicon Wafers Market Covered Are:
Shin Etsu (JP)
LG Siltron (KR)
Shenhe FTS (CN)
Wafer Works (TW)
Zhonghuan Huanou (CN)
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Silicon Wafers Market Drivers:
Rising Sales of Consumer Electronic Devices is a Key Driving Force
Silicon wafers are also used to produce nanomaterials and microscopic computer systems. Additionally, the growing trend of miniaturization of electronics products and portable devices creates several opportunities in the market. Booming mobile phone industry and wireless communication devices push market revenues.
Similarly, rising uses of various electronic devices like computers, smartphones, military weapons, and others create significant market opportunities. Additionally, the growing adoption of semiconductor platforms in automotive, healthcare, aerospace & defense, and consumer electronics boosts the market size. Increasing applications in voice identification, machine vision, and video monitoring influence the silicon wafers market growth.
Rapidly growing semiconductor and sensor markets contribute to the market growth substantially. Also, rising uses of artificial intelligence (AI) and machine learning (ML) are 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.
Complexities in Manufacturing Restrict Silicon Wafer Market Growth
The complex manufacturing process of silicon wafer designs and the continuously changing semiconductor industry are major factors impeding the growth of the market. Also, the high production costs of semiconductor wafers pose major challenges to market growth.
Nevertheless, the growing usage of semiconductor wafers in power amplifiers for transmitting ultra-high radio frequency, high-speed signals, and fast electronic switching applications would support the market growth throughout the forecast period.
The Silicon Wafers market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers, including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.
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Segmentation of Market Covered in the Research:
The silicon wafer market forecast is segmented into types, diameters, applications, and regions. The type segment is sub-segmented into epitaxial wafers, polished wafers, SOI wafers, and diffused wafers. The diameter segment is sub-segmented into 100 nm to 150 nm, 200 nm, 300nm, and 450 nm and above.
The application segment is bifurcated into MEMs, RF electronics, automotive, photonics, consumer electronics, and others. The region segment is sub-segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and others.
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Asia Pacific dominates the global silicon wafer market. Factors such as the strong presence of major semiconductor foundries and wafer fabrication industries and the rising adoption of portable electronic devices drive the market growth. Besides, increasing uses of AI, IoT, data analytics, and other technologies & solutions in various industries substantiate the region’s silicon wafer market share.
Augmenting demand for automated systems and fast networks & processors with high computing power substantiate the market growth. Moreover, growing investments in the development of computing technology boost the region’s silicon wafer market size.
The COVID-19 outbreak has impacted the silicon wafer market positively. The market has been witnessing a constant uptick over the past few months. Technology providers are making substantial investments to foster R&D activities to improve the functionalities of silicon wafers. With the COVID-19 crises expected to extend beyond 2021, the need for industrial automation and digitization are expected to increase phenomenally during the years to come.
The Silicon wafer market is estimated to witness several strategic initiatives such as expansion, collaboration, mergers & acquisitions, and product & technology launches. Key players make strategic investments in research and development activities and fostering their expansion plans.
For instance, on July 08, 2021, the UK government announced its plans to probe the takeover of the UK’s largest silicon wafer manufacturer – Newport Wafer Fab, by a Chinese-backed company on national security grounds.
Newport Wafer Fab produces silicon wafers at its plant in south Wales, which was recently purchased by Nexperia, a Netherlands-based Chinese company operating in a similar facility in Manchester. China would take over the silicon wafer plant to evaluate if silicon wafers are made of real intellectual property value, real security implications, and interest to China.
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