What Has Been The Evolution of the Silicon Wafer Market in Recent Years?
The silicon wafer market has seen considerable growth due to a variety of factors.
• The silicon wafer market is projected to grow from $18.25 billion in 2024 to $19.62 billion in 2025 at a CAGR of 7.5%.
This growth is attributed to the increasing proliferation of smartphones, laptops, and other consumer electronics, the rising integration of semiconductor components in vehicles, and increased adoption of automation, expansion of telecommunications networks, and the shift to 5G technology.
What Are the Future Growth Projections for the Silicon Wafer Market?
The silicon wafer market is expected to maintain its strong growth trajectory in upcoming years.
• The silicon wafer market is expected to reach $25.92 billion by 2029, growing at a CAGR of 7.2%.
Growth is driven by the increased adoption of electric vehicles, the growth of IoT, rising renewable energy investments, economic development, and more IoT device proliferation. Trends include 3D integration techniques, AI integration, edge computing for IoT, material innovations, and sustainability in semiconductor manufacturing.
What Are The Core Factors Supporting Growth In The Silicon Wafer Market?
The silicon wafer market is predicted to see significant growth due to an anticipated surge in the installation of solar panels. Solar panels, also referred to as photovoltaic (PV) panels, are composed of multiple solar cells which directly transform sunlight into electricity. These panels, which generate sustainable and renewable power, are an appealing alternative to finite fossil fuels that cause environmental pollution and climate change. Utilizing silicon wafers, solar panels convert solar energy into electricity, promoting sustainable energy use and lessening reliance on fossil fuels. As an example, in April 2023, the National Renewable Energy Laboratory (NREL), a U.S.-based research organization focusing on renewable energy and energy-efficient technologies, published a report stating that global PV installations had hit 231 gigawatts of direct current (GWdc), accumulating to 1.2 terawatts of direct current (TWdc) by the end of 2022. China saw an annual surge of 57% in PV installations, accounting for 42% of the global demand, predominantly fueled by distributed PV installations. The annual installations are projected to cross 300 GW by 2023, and exceed 400 GW by 2025. Hence, an increase in the installation of solar panels is a key driver for the expansion of the silicon wafer market.
What Are The Major Segments Within The Global Silicon Wafer Market?
The silicon wafer market covered in this report is segmented –
1) By Type: N-Type, P-Type
2) By Wafer Size: 0-100 mm, 100-200 mm, 200- 300 mm, More Than 300 mm
3) By End User: Consumer Electronics, Automotive, Industrial, Telecommunications, Other End Users
Subsegments:
1) By N-Type Silicon Wafers: High Resistivity N-Type Wafers, Low Resistivity N-Type Wafers, N-Type Solar Wafers, N-Type Power Devices, N-Type Semiconductor Wafers For Microelectronics
2) By P-Type Silicon Wafers: High Resistivity P-Type Wafers, Low Resistivity P-Type Wafers, P-Type Solar Wafers, P-Type Power Devices, P-Type Semiconductor Wafers For Integrated Circuits
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How Are Emerging Trends Reshaping The Dynamics Of The Silicon Wafer Market?
Leading corporations in the silicon wafer market are concentrating on advancing high-performance wafer technologies, such as silicon carbide single-crystal wafers. This is in response to the growing need for sophisticated semiconductor applications. These silicon carbide single-crystal wafers enhance the efficacy and miniaturization of power modules, aiding in the progress of energy efficiency and shrinking of electronic gadgets. In an example from March 2022, The Showa Denko Group, a chemical products and industrial materials manufacturer located in Japan, initiated the mass production of 6-inch silicon carbide single crystal wafers (SiC wafers). These wafers play a critical role in SiC epitaxial wafers and are vital for SiC-based power semiconductors. Famous for their high heat resistance and voltage stamina, SiC power semiconductors cater to the expanding demand across various industries like EVs, railcars, and industrial equipment.
Who Are the Key Players In The Silicon Wafer Market?
Major companies operating in the silicon wafer market are:
• International Business Machines Corporation (IBM)
• The Dow Chemical Company
• Sumitomo Electric Industries Ltd.
• Applied Materials Inc.
• Komatsu Electronic Metals Co. Ltd.
• Shin-Etsu Chemical Co. Ltd.
• Texas Instruments Incorporated
• Mitsubishi Materials Corporation
• United Microelectronics Corporation (UMC)
• SUMCO Corporation
• GlobalWafers Co. Ltd.
• Siltronic AG
• SunEdison Inc.
• SOITEC SA
• SunEdison Semiconductor Limited
• Wafer Works Corporation
• EV Group (EVG)
• Shinryo Corporation
• Okmetic Oy
• Topsil Semiconductor Materials A/S
• MTI Corporation
• NexWafe GmbH
• MEMC Electronic Materials Inc.
• SK Siltron Co. Ltd.
• Silicon Materials Inc.
• Ultrasil Corporation
What Is The Most Dominant Region In The Silicon Wafer Market?
Asia-Pacific was the largest region in the silicon wafer market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the silicon wafer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
