Epitaxial wafers are an important part of integrated circuits and electronic devices such as LEDs, lasers, transistors, and solar cells. They offer advantages such as high precision, uniform thickness, and low defect density that improves performance and yields of semiconductor devices. Growing demand for smartphones, tablets, laptops, and advanced consumer electronics is fueling the need for more powerful and energy efficient chips. The global Epitaxial Wafer Market is estimated to be valued at US$ 938.32 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the epitaxial wafer market is the explosive growth in applications of semiconductors. Almost every facet of modern life depends on semiconductors used in various devices. There is rising demand for semiconductors from emerging applications such as Internet of Things (IoT), electric and hybrid vehicles, renewable energy infrastructure, and cloud computing. Semiconductors have become crucial for advanced technologies of the future such as artificial intelligence, 5G networks, autonomous vehicles, and quantum computing. As semiconductors become more complex with shrinking device sizes, the need for high quality epitaxial wafers with precise specifications will also rise. This increasing reliance on semiconductors globally is expected to propel the demand for epitaxial wafers over the forecast period.
Segment Analysis
The global epitaxial wafer market is divided into different segments based on technology, application and geography. Based on technology, the market is bifurcated into Si epitaxial, GaAs epitaxial, InP epitaxial, SiC epitaxial, and others. Among these, the Si epitaxial wafer segment dominates the market owing to its widespread adoption in applications such as LED lighting, infrared sensor, and laser diodes. Based on application, the market is categorized into LED, power semiconductor, MEMS, and others. The LED application segment accounts for the largest share of the epitaxial wafer market as these wafers are used in the production of LED chips responsible for energy-efficient lighting and displays.
Key Takeaways
The global epitaxial wafer market scope is expected to witness high growth over the forecast period of 2023 to 2030. The global Epitaxial Wafer Market is estimated to be valued at US$ 938.32 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
Regional analysis shows that the Asia Pacific region holds the highest share of the global epitaxial wafer market currently. This can be attributed to presence of major electronics manufacturing hubs and wafer foundries in countries such as China, Taiwan, Japan and South Korea. Growing demand for consumer electronics and smartphones in Asia Pacific countries is expected to drive the regional market over the forecast period.
Key players operating in the epitaxial wafer market include EpiWorks Inc., Global Wafers Japan Co. Ltd., Nichia Corporation, SHOWA DENKO K.K. These companies dominate the market with their technical expertise in production of different wafer materials and sizes as per application requirements. They are focusing on expansion of wafer manufacturing capacities to leverage future growth opportunities.
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Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the epitaxial wafer market include EpiWorks Inc., Global Wafers Japan Co. Ltd., Nichia Corporation, Showa Denko K.K., Siltronic AG, Desert Silicon Inc., Electronics and Materials Corporation Ltd., Intelligent Epitaxy Technology Inc., IQE plc, Jenoptic AG.
Increased adoption of highly integrated semiconductor elements (ICs), smart devices, automation-based solutions, and the growing trend of IoT technology will boost market growth.
With the rise of electric vehicles and autonomous vehicles, the surge in demand for the epitaxial wafer in several products, like ADAS, navigation control, infotainment systems, and collision detections, will further propel market growth.
Using epitaxial wafers can enable innovation at the device level to meet the requirements of next-generation 5G radiofrequency (RF) cellular networks, smart sensor systems, and consumer power supplies.
The various complexities involved in designing these wafers are the single most restraining factor for this market's growth.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
