Global Silicon Wafers Market
A silicon wafer refers to a thin slice of a semiconductor which is used to fabricate integrated circuits. In photovoltaics, a silicon wafer is used to manufacture solar cells. A wafer generally serves as a substrate for many microelectronic devices that are built in and upon it. Many microfabrication processes are carried out on a wafer such as doping, etching, ion implantation, photolithographic patterning, and thin-film deposition on several materials. The global silicon wafer market is estimated to record a CAGR of 8.5% during the assessment period, according to MRFR’s latest report.
With growth in solar energy adoption, the demand for silicon wafers is expected to upscale to a great extent. Further, the silicon wafer market is bound to witness robust growth owing to the growing use of semiconductors in numerous industry verticals such as consumer electronics, medical, military, and automotive. Also, elevating demands for wireless communication devices like smartphone and tablets is also anticipated to drive the global silicon wafer market during the review period.
However, the silicon wafers market is facing numerous hindrances because market players are hesitant towards investments made for research and development of the technology. The initial investments are very high, hampering the market growth further. This has not only created a market entry barrier, but the market also appears to be more concentrated among the major market players. Additionally, the replacement of silicon with gallium nitride (GaN) for the manufacturing of semiconductor wafers also poses as a significant threat to the silicon wafer market. This is because the GaN provides further miniaturization and size reductions when compared with silicon, leading to a rise in energy efficiency and density.
Market Segmentation
The global silicon wafers market is segmented on the basis of size, type, and application. The global silicon wafers market is segmented into 150 mm, 200 mm, 300 mm, and 450 mm, based on size. The segment of 300 mm is estimated to garner the biggest market share during the forecast period. Many companies are extensively investing in 300 mm and larger sized wafers owing to the low cost of production per unit area. Based on type, the global silicon wafers market is segmented into N-type and P-type. On the basis of application, the silicon wafers market is segmented into integrated circuits, solar cells, and photoelectric cells.
Detailed Regional Analysis
The global silicon wafers market is projected to garner a revenue of USD 503 million during the forecast period ending by 2022. The global silicon wafers market is geographically segmented by Market Research Future (MRFR) into North America, Asia Pacific, Europe, and the Rest of the World. The silicon wafer market in Asia Pacific is estimated to spearhead the global market during the forecast period. Many emerging economies like China, Japan, and India are expected to dominate the country-specific market for silicon wafers in Asia Pacific. Attributable factors to such growth include the rising disposable incomes of the consumers in the region, increasing government funding, and rapidly rising demand for electronics in the region. Further, a need for safe and reliable clean energy sources is bound to create lucrative demand for solar panels and solar cells, hence, boosting the growth in the silicon wafers market. Europe is projected to exhibit steady growth in the silicon wafers market owing to the development in the automotive and electronic sectors during the forecast period.
Key Players
The global silicon wafers market exhibits the presence of many noteworthy players including Elkem AS (Norway), Renewable Energy Corporation (Norway), LG Siltron Inc.(South Korea), Siltronic AG (Germany), Addison Engineering (CA), Shin-Etsu Handotai Co. Ltd. (Japan) , Advance Semiconductor Inc.(U.S.), MEMC Electronic Materials Inc.(California), and SUMCO Corp.(Japan).
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