It has been observed that the demand for smartphones, laptops, and gadgets is extensively increasing across the globe. Silicon wafers are deployed to produce semiconductors that form the base of these electronic devices. These wafers are also utilized to manufacture microchips, chips, and integrated circuits, which find their usage in a wide range of electronic devices like smart phones, gaming devices, laptops, computers, and military weapons. Silicon wafers are gaining huge demand from the end-use industries such as electronics, automotive, and semi-conductor. Taking into account the growth of the global silicon wafer market, QYR Consulting has shortly published a new report titled, “Global Silicon Wafer Market Report, History and Forecast 2014 - 2025.” According to the report, the global silicon wafer market was US$ 7640 mn in 2018 and is expected to reach US$ 9090 mn by the end of 2025. The global silicon wafer market is predicted to exhibit a sluggish CAGR of 2.2% during the forecast period of 6 years, i.e. between 2019 and 2025.
300 mn Products to Grain Traction among the Manufacturers
The silicon wafer market can be segregated on the basis of product as 300 mn, 200 mm, and 150 mm. 300 mn is expected to grab a major share in the market owing to growing demand for a large wafer diameter as it enhances the efficiency and overall output. Based on application, the market is segmented as memory, logic/MPU, and others. Logic/MPU may emerge as a key application segment in the market owing to the extensive usage of silicon wafers in the manufacturing of microchips and chips, employed in various electronic devices.
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Asia Pacific to Emerge as a Frontrunner in the Silicon Wafer Market
Asia Pacific is expected to grab a major market share in the coming years owing to growing automotive industry and rising disposable income. Government funding and rise in the foreign investments in the automotive sector are resulting in the regional market growth. In addition, booming electronic sector in China may bode well for the silicon wafer market growth in Asia Pacific.
North America is expected to witness moderate growth because of growing solar cell market in the region. On the other hand, rising usage of silicon wafers in the automotive and electronics industries is helping the global market to develop in Europe.
Some of the key players operating in the global Silicon Wafer market are Zhonghuan Huanou (CN), Sumco (JP), MCL (CN), Siltronic (DE), LG Siltron (KR), Shenhe FTS (CN), SAS (TW), SST (CN), JRH (CN), Okmetic (FI), GRITEK (CN), MEMC (US), Wafer Works (TW), Simgui (CN), and Shin Etsu (JP).
High Demand from the Electronics Sector to Act as a Key Driver
Extensive usage of silicon wafers in the electronic industry due to their associated benefits such as high reliability, low weight, low power consumption, flexibility, and small size is one of the key factors driving the global market. Increasing demand for silicon wafers to boost the performance and smooth operation of the vehicle is also acting as a key driver in the silicon wafer market.
Moreover, since past few years, demand for the solar energy has witnessed a surge. This scenarios is expected to significantly contribute to the growth of the solar panel and solar cells. Silicon wafers are widely used in the manufacturing of the solar cells, thereby driving the demand for the product. Technological developments and advancements in the silicon wafers technology are having a positive impact on the silicon wafer market growth.
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