Silicon Wafer Market Size to Reach US$ 17.5 Billion, Globally, by 2032 at 4% CAGR

SHERIDAN, WYOMING, UNITED STATES, February 27, 2024 /EINPresswire.com/ — According to latest report by IMARC Group, titled “Silicon Wafer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” the global silicon wafer market size reached US$ 12.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.

Factors Affecting the Growth of the Silicon Wafer Industry:

• Technological Advancements:

As electronic devices become more sophisticated, there is an increasing demand for silicon wafers with higher purity and larger diameters to facilitate the development of more compact and efficient integrated circuits (ICs). Innovations in manufacturing processes, such as the adoption of the Czochralski process for producing monocrystalline silicon, have enabled the production of larger wafers with fewer defects, thereby increasing their suitability for advanced semiconductor applications. These technological advancements improve performance and reduce the cost of electronic devices and drive the expansion of the silicon wafer market by meeting the evolving requirements of the semiconductor industry.

• Growing Demand for Consumer Electronics:

The escalating demand for consumer electronics, such as smartphones, tablets, and laptops, directly impacts the growth of the silicon wafer market. These devices rely heavily on silicon-based ICs for their operation, which in turn drives the demand for high-quality silicon wafers. As consumer electronics become increasingly integrated into daily life, the need for more powerful, energy-efficient, and smaller devices continues to rise. This trend necessitates the development of advanced semiconductor technologies, which require silicon wafers as a fundamental component. As a result, the growing consumption of consumer electronics globally fuels the expansion of the silicon wafer market.

• Expansion of the Solar Energy Sector:

The silicon wafer market is also benefiting from the rapid expansion of the solar energy sector. Silicon wafers are a critical component in the manufacture of photovoltaic (PV) cells, which convert sunlight into electricity. With growing environmental concerns and the push for renewable energy sources, there has been a significant increase in the adoption of solar energy worldwide. This trend has led to an increase in demand for high-quality silicon wafers, as they are essential for producing efficient and durable PV cells. The expansion of the solar energy sector thus represents a key driver for the growth of the silicon wafer market, as it broadens the application range of silicon wafers beyond traditional electronics to include renewable energy technologies.

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Competitive Landscape with Key Players:

• Global Wafers Singapore Pte. Ltd
• Okmetic Oy
• Shanghai Simgui Technology Co. Ltd
• Shin-Etsu Chemical Co., Ltd
• Silicon Materials Inc
• Siltronic AG
• SK Siltron Co., Ltd
• Sumco Corporation
• Tokuyama Corporation
• Virginia Semiconductor, Inc
• Wafer Works Corporation

Silicon Wafer Market Trends:

The automotive industry’s shift towards electric and autonomous vehicles has created a new growth avenue for the silicon wafer market. Advanced driver-assistance systems (ADAS), infotainment, and onboard diagnostics require a substantial amount of semiconductor components, which in turn propelsthe demand for silicon wafers. The integration of electronics in vehicles is becoming more complex and sophisticated, necessitating high-quality silicon wafers to ensure reliability and performance. As the automotive industry continues to innovate and evolve, the demand for silicon wafers is expected to increase, further propelling the market’s growth.

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Silicon Wafer Market Report Segmentation:

Breakup by Wafer Size:

• 0 – 100 mm
• 100 – 200 mm
• 200 – 300 mm
• More than 300 mm

Wafers larger than 300 mm dominated the largest segment by wafer size due to their efficiency in producing more chips per wafer, reducing costs, and meeting the high demand for semiconductors in advanced technology applications.

Breakup by Type:

• N-type
• P-type

P-type silicon wafers were the largest segment by type, primarily due to their widespread use in various semiconductor devices, attributed to their positive charge carrier conductivity and compatibility with a wide range of applications.

Breakup by Application:

• Solar Cells
• Integrated Circuits
• Photoelectric Cells
• Others

Solar cells emerged as the largest segment by application, driven by the global shift towards renewable energy sources, where silicon wafers are essential for manufacturing photovoltaic cells due to their efficiency in converting sunlight into electricity.

Breakup by End-Use:

• Consumer Electronics
• Automotive
• Industrial
• Telecommunications
• Others

Consumer electronics constituted the largest segment by end use, as silicon wafers are fundamental components in the manufacturing of electronic devices, such as smartphones, laptops, and tablets, which have a high consumer demand.

Breakup by Region:

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America

The Asia Pacific region was the largest market, attributed to its robust electronics manufacturing sector, significant investments in technology and infrastructure, and the presence of key semiconductor and solar cell manufacturers.

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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