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Rising Electronics and Semiconductor Demand to Expand Silicon Wafer Market at 9.3% CAGR until 2031: Report from TMR

Rising Electronics and Semiconductor Demand to Expand Silicon Wafer Market at 9.3% CAGR until 2031: Report from TMR

Silicon wafer demand is expected to rise with the surge in demand for consumer electronics. Investing in technology innovation and integrating artificial intelligence in the coming years will help the business expand.

Wilmington, Delaware, United States, Sept. 29, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The silicon wafer market was valued at US$ 5.4 billion in 2021. The silicon wafer market is expected to reach US$ 13.2 billion by 2031. Silicon Wafer market revenue will increase at a CAGR of 9.3% from 2022 to 2031.

Electronic devices are becoming smaller and more powerful, resulting in smaller transistors and other silicon wafer components. As part of this effort, current fabrication technology such as photolithography is pushed to its limits as well and new technologies such as ultraviolet (EUV) lithography are explored. In addition to developing advanced packaging technologies, manufacturers are focusing on improving semiconductor device performance.

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There are several techniques involved in this process, including heterogeneous integration, chip stacking, and system-on-chip (SoC) designs. Scaling on a single silicon wafer can be overcome with these approaches. A number of alternative materials are being investigated to replace silicon in order to offer improved power efficiency, performance, and scalability.

GaN, nanotubes, and transition metal dichalcogenides (TMDs) are some of the more promising candidates for 2D materials, such as graphene and carbon nanotubes (CNTs). Due to their unique properties, these materials may enable devices to run faster and consume less energy. Global silicon wafer sales will continue to grow as Industry 4.0 technologies such as AI, IoT, machine learning, etc., are increasingly adopted.

Key Findings of Market Report

  • With the transition of the industry, wafer sizes are getting bigger from 200mm and below. In addition to reducing production costs and improving productivity, larger wafers can produce more chips per wafer.
  • Consumer electronics and automotive demand are expected to increase silicon wafer demand.
  • With the growth of smartphones and other portable devices, silicon wafer demand will increase.
  • Increasing production of microchips and technological advancements are expected to boost demand in the coming years.

Global Silicon Wafer Market: Growth Drivers

  • A silicon wafer can be used to produce nanomaterials, as well as microscopic computers and nanotechnology. Additionally, a variety of business opportunities will arise as electronic and portable device miniaturization continues to grow in the market. Wireless communication devices and mobile phones are driving market revenue growth.
  • In recent years, it has become common for both public and private organizations to invest in and support the silicon wafer market. OEMs are making significant investments in the market, which is predicted to lead to exponential growth in the coming years.
  • In addition, the increasing concern about the environment caused by high carbon emissions from power plants that burn fossil fuels has led to an increase in the use of renewable energy sources. In photovoltaic cells, silicon wafers are being used more often due to the growing number of solar power plants. Silicon solar panels are gaining popularity due to their high performance, stability, and nontoxicity.

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Global Silicon Wafer Market: Regional Landscape

  • A growing population and rising disposable income will support industry expansion in the electronics and alternative renewable energy sectors. Furthermore, low labor costs in Japan and China will contribute to an expansion of the market during the forecast period.
  • According to Chinese researchers, they are working on a new laser source using particle accelerators in order to circumvent lithography machine restrictions. This innovation could enable chip manufacturing at a low cost and in high volume. China could become a major player in the manufacture of advanced chips, also known as 2nm (nanometer) chips.

Global Silicon Wafer Market: Key Players

According to TMR’s analysis, many companies are increasing their geographic reach and updating their product portfolios to increase their market share. There is a great deal of competition in the silicon wafer market. By forming strategic partnerships and making strategic moves, companies are becoming more competitive in the market.

Prominent silicon wafer market players include:

  • Wafer World Inc.
  • SUMCO Corporation
  • Shin-Etsu Chemical Co.
  • Ltd., Okmetic
  • Sil’tronix Silicon Technologies
  • Global Wafers Co., Ltd.
  • Siltronic AG
  • Silicon Materials Inc.
  • Wafer Works Corporation
  • SK Siltron Co., Ltd

Key Developments

  • In September 2023, Trina Solar announced that its US division had started manufacturing silicon wafers in the city of Thai Nguyen, 80 kilometres northwest of Hanoi. According to Trina, this new capacity will be used exclusively to supply its utility, commercial, industrial, and residential solar markets in the United States.
  • In September 2023, NorSun agreed to provide a clean source of Western-produced silicon wafers to Silfab Solar, a North American leader in PV module manufacturing.

Global Silicon Wafer Market: Segmentation

By Size

  • Less Than 150 mm
  • 200 mm
  • 300 mm & Above

By Device

  • Logic
  • Memory
  • Analog
  • Others

By End User

  • Automotive
  • Consumer Electronics
  • Telecommunication
  • Energy & Power
  • Aerospace & Defense
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Nikhil Sawlani
Transparency Market Research Inc.
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Originally published at https://www.einpresswire.com/article/658626357/rising-electronics-and-semiconductor-demand-to-expand-silicon-wafer-market-at-9-3-cagr-until-2031-report-from-tmr

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