"Growing electric cars market expected to drive the market growth in the forecasted period"
The rapid development in the integration of the semiconductor industry has a high demand for silicon wafer, as a basic material for producing ICs. The exponential growth of consumer electronics products such as smartphones, tablets, and smart wearable are the end products where ICs are assembled. This industry has kept the demand high for silicon wafers. A silicon wafer is a thin slice of crystalline silicon that is majorly used in our electronics products. Its natural abundance and semiconductor properties like neither too strong conductor and nor strong insulator of electricity made it the preferred choice of the semiconductor industry; compare to its competitor semiconductors like germanium for making wafers.
Secondly, there is a growing demand for electric cars across the world. Rising petroleum prices and its ill-impact on the environment have influenced the buyer to go for electric cars. Moreover, governments and NGOs are also forcing the automobile-makers to switch-to-electric for reducing air pollution. Governments are also supporting the automotive industry as well as buyers by providing subsidy. Supplementarily, technological advancement in self-driving cars where several chips such as LiDAR, radar, camera and other sensors that can sense the surrounding environment are assembled into the system. Major automotive companies like Tesla, Toyota, Volvo, Nissan, Baidu, and Google are continually investing in driverless car development, considering the market potential in the long run. Either the electric car or driver-less car, silicon wafer-based chips, ICs, and sensors are the most important component to run the vehicle.
This new development in the automotive industry expected to further the growth of the silicon wafers market during the forecasted period. Overall, the global silicon wafers market was US$ 7.26 Bn in 2021 and expected to reach US$ 13.59 Bn by 2030, growing at a CAGR of 7.3% from 2023 to 2030.
"Consumer electronics segment dominating the market"
Based on end-user, the consumer electronics segment captured the highest share of the global silicon wafers market in 2021. According to the Consumer Technology Association (CTA), the U.S. based organization representing more 2,200 consumer technology companies in the U.S. predicted the U.S. consumer sales to surpass US$ 400 Bn mark in 2021, growing 2.2% year-on-year. The consumer electronics sector is experiencing the launch of emerging technologies such as smart homes, smart speakers, home robots, smartwatch. With the launch of 5G technology, IoT and enhanced mobile broadband services, the demand for high RAM ICs is expected to grow exponentially; that will show high demand for silicon wafers, worldwide. This, in turn, will benefit the global silicon wafers market.
"Asia Pacific dominating the global market by region"
The global silicon wafers market was dominated by the Asia Pacific, accounting for more than 35% of the market share in the year 2021. Robust demand from semiconductor industries of China, South Korea, and Japan has kept the region leading in the global market. Furthermore, India’s “Make in India” campaign to establish chip fabrication units in the country has also added advantage to the regional market. China’s growing production of electric cars and manufacturing hubs of smartphones has a high demand for silicon wafers.
According to the “2020 China Semiconductor Silicon Wafer Outlook report”, wafer production growth is the fastest in the world. Further, strong domestic demand and favorable government policies have added advantages to the growth of fabrication units in the country. It is forecasted in the above report that China can produce 4 million wafers per month by 2020.
"Technological advancement is keeping the market competitive"
The global silicon wafers market is competitive in nature. Prominent players operating in the silicon wafers market are adopting strategies such as partnership with other companies, acquisition of smaller players to increase their production capacity and geographical reach. Following is the list of players included in the published reports.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Silicon Wafers market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Wafer Type
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Doping Type
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Wafer Size
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End-user
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
