silicon wafer Global Market Size, Share, Segments, Technologies, Applications, Verticals, Strategies and Regional Forecast to 2022

At present, silicon wafers market share is growing at a stable rate of 8.5%, and in 2016, its value was USD 333 million, asserts Market Research Future (MRFR). MRFR also expects the silicon wafers market to reach a valuation of USD 503 million during the forecast period (2016-2022).

Primary Drivers and Key Challenges

The global silicon wafer market is set to progress at a striking rate in the near future, given the strong demand for high-performance electronic gadgets. Surge in the number of businesses coupled with the increasing standards of living is leading to rising demand for laptops, gadgets, and smartphones. Silicon wafers are used to manufacture semiconductors, which are considered the base of advanced electronic devices. These wafers are used to produce microchips & chips and to build ICs that find use in a broad range of electronic devices.

Mounting the importance of renewable energy sources has given way to a high demand for solar energy. A surge in the number of solar panel installations has been noted in recent years, given the surging awareness regarding the benefits offered by solar energy. Solar panels and cells are made with the use of silicon wafers owing to their semiconducting properties. Its solar band efficiency is 1.1 eV, which makes it the perfect option for solar panels. High availability of silicon, non-toxicity and stable cell efficiencies render it the ideal choice for photovoltaics, which augments the demand for the silicon wafer market. Silicon’s high-performance efficiency also benefits the market across the globe.

The market is abuzz with a host of technological advancements that help elevate the capabilities of wafers, thereby stimulating the growth of the silicon wafer market. Automation and artificial intelligence (AI) are quite popular among all the industry verticals, as these enhance operational efficiency. Products backed with AI have emerged as a trend among companies that opt for silicon wafers to create AI-infused technologies. Miniaturization of electronics and advancements in the IoT will also induce market growth in the coming years.

Industry Trends

Developments in Internet of Things

Advances in the IoT is giving rise to a broad spectrum for semiconductors as they are used in the devices that are interconnected via a mobile application. This is expected to usher in a favorable marketplace for sustainable silicon wafers in the coming years.

Market Segmentation

The worldwide silicon wafers market has been segmented with respect to size, type, and application.

With regard to size, the market includes 150 mm, 200mm, 300mm, and 450mm.

The types of silicon wafers are N-Type and P-Type.

Application-wise segments mention in the report are solar cells, integrated circuits, photoelectric cells and others. 

Regional Insight

Asia Pacific (APAC), Middle East & Africa (MEA), North America and Europe have been identified as the primary markets for silicon wafers.

APAC is expected to be the highest gaining market for silicon wafer, thanks to the booming automotive sector. A number of government initiatives, especially in India, is prompting foreign investments within the automotive sector, which is leading to business growth in the region. Additionally, the thriving electronics industry in China is also working in favor of the silicon wafer market. With the growth in Industry 4.0 and technologies like AI and IoT in the automotive sector, the demand for silicon wafers for smooth operation and high performance of the vehicle is expected to mount in the next couple of years.

The market growth in North America is expected to be moderate during the review period, backed by a substantial increase in the number of solar panel installations in the United States (U.S.), Canada and Mexico. These installations have hiked in number in these countries, given the rising adoption of environment-friendly solar energy. Other than this, there will be high demand for the market on account of soaring demand for electronic devices like tablets and smartphones in the region.

In Europe, high disposable income combined with rising population has led to strong demand for electronics as well as alternative renewable sources of energy. Also, the industry growth in the region is in response to frequent technological advancement and an advancing number of solar panel installations.

Leading Players

Some of the leading players shaping the silicon wafers market include LG Siltron Inc. (South Korea), Renewable Energy Corporation (Norway), Shin-Etsu Handotai Co. Ltd. (Japan), Siltronic AG (Germany), Advance Semiconductor Inc.(U.S.), SUMCO Corp.(Japan), Elkem AS (Norway), Addison Engineering (CA), MEMC Electronic Materials Inc.(California), among others.

Browse Complete Report "Silicon Wafers Market Research Report- Global Forecast 2022" @ https://www.marketresearchfuture.com/reports/silicon-wafers-market-2052