Overview and Scope
A silicon wafer is a thin slice of semiconductor material, typically silicon, used in the fabrication of integrated circuits and other microdevices. These wafers serve as the substrate for microelectronic devices and are essential in the manufacturing of electronics, from computers to solar cells. The production process involves slicing silicon ingots into wafers, followed by polishing and doping to achieve the desired electrical properties.
Sizing and Forecast
The silicon wafer market size has grown strongly in recent years. It will grow from $17.03 billion in 2023 to $18.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increased proliferation of smartphones, laptops, and other consumer electronics, the growing integration of semiconductor components in vehicles, increased adoption of automation in industrial sectors, expansion of telecommunications networks, shift to 5G technology, and expansion of solar energy installations.
The silicon wafer market size is expected to see strong growth in the next few years. It will grow to $24.20 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increased adoption of electric vehicles, growth of the Industrial Internet of Things (IoT), rising investment in renewable energy, growing economic development, and rising proliferation of IoT devices. Major trends in the forecast period include adoption of three-dimensional integration techniques for semiconductor devices, integration of artificial intelligence (AI) technologies into various applications, development of edge computing infrastructure for IoT applications, materials innovation, and emphasis on sustainability in semiconductor manufacturing.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
A significant rise in the installation of solar panels is expected to propel the growth of the silicon wafer market going forward. Solar panels, also known as photovoltaic (PV) panels, refer to devices composed of multiple solar cells that convert sunlight directly into electricity. Solar panels produce renewable and sustainable energy sources, making them an attractive alternative to fossil fuels, which are finite and contribute to environmental pollution and climate change. Solar panels harness energy from sunlight using silicon wafers, efficiently converting solar radiation into electricity while contributing to sustainable energy practices and reducing dependence on fossil fuels. For instance, in April 2023, according to a report published by the National Renewable Energy Laboratory (NREL), a US-based research institution dedicated to advancing renewable energy and energy efficiency technologies, global photovoltaic (PV) installations reached 231 gigawatts of direct current (GWdc), totaling 1.2 terawatts of direct current (TWdc) cumulatively in 2022. China’s annual PV installations surged by 57%, accounting for 42% of global demand, primarily driven by distributed PV, while annual installations are forecast to exceed 300 GW by 2023 and surpass 400 GW by 2025. Therefore, a significant rise in the installation of solar panels is driving the silicon wafer market.
Key Industry Players
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
The silicon wafer market report table of contents includes:
1. Executive Summary
2. Silicon Wafer Market Characteristics
3. Silicon Wafer Market Trends And Strategies
4. Silicon Wafer Market – Macro Economic Scenario
5. Global Silicon Wafer Market Size and Growth
…..
32. Global Silicon Wafer Market Competitive Benchmarking
33. Global Silicon Wafer Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Silicon Wafer Market
35. Silicon Wafer Market Future Outlook and Potential Analysis
36. Appendix
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