The Global Epitaxial Wafer Market Growth Accelerated By Increasing Adoption Of Integrated Circuits

 

 Epitaxial Wafer Market

Epitaxial wafers are semiconductor substrates used in electronic devices and the production of integrated circuits. Epitaxial wafers offer high electronic conductivity, uniform thickness and a smooth surface that is ideal for deposition of thin films of semiconductors. The growing demand for consumer electronics such as smartphones, laptops, and tablets has increased the adoption of integrated circuits manufactured using epitaxial wafers.

The global Epitaxial Wafer Market is estimated to be valued at US$ 938.32 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing adoption of integrated circuits across various applications has been the major factor driving the growth of the epitaxial wafer market. Integrated circuits are the basic building blocks of most modern electronic devices. The demand for efficient consumer electronics with advanced functionality has increased the need for integrated circuits with higher bandwidth and faster processing. As epitaxial wafers serve as the base substrate for manufacturing integrated circuits utilizing gallium arsenide or silicon, their demand is directly correlated to the growth of the integrated circuits market. The rising focus on technological advancements in the electronics industry is expected to continue fueling the demand for epitaxial wafers over the forecast period.

Segment Analysis

The global Epitaxial wafer market is dominated by 200mm and less than 200mm wafer size segments. The 200mm wafer size segment accounts for around 35% of the market share owing to high demand from consumer electronics applications like smartphones, LCDs etc. The advancements in semiconductor manufacturing have enabled miniaturization of electronic components, driving the demand for wafers with smaller diameters.

Key Takeaways

The Global Epitaxial Wafer Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The Asia Pacific region currently dominates the market with a share of over 45% in 2023. Growing electronics and semiconductor industries in China, South Korea, Taiwan and other Asian countries have been the major factor driving the regional market growth.

Regional Analysis

The Asia Pacific region is projected to maintain its dominance during the forecast period as well. The presence of top electronics manufacturers and foundries in countries like China, Taiwan, South Korea is fueling the demand for epitaxial wafers in this region. Additionally, the governments in Asia Pacific are encouraging investment in semiconductor manufacturing which will further support the market expansion.

Key players

Key players operating in the epitaxial wafer market are Northrop Grumman Corporation, BAE Systems, Lockheed Martin Corporation, Clearpath Robotics Inc., John Bean Technologies Corporation. These companies are focusing on new product launches and partnerships to strengthen their market position. For instance, Northrop Grumman Corporation recently partnered with BAE Systems to provide autonomous technologies for coastal sea vessels.

Get more insights on this topic:

https://www.marketwebjournal.com/epitaxial-wafer-market-market-size-and-share-analysis/