Semiconductor Silicon Wafer Market Skyrockets to $18.09

US & Canada, Nov. 06, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global semiconductor silicon wafer market is observing significant growth owing to the emergence of the 5G network. Growing investments in 5G help improve connectivity and raise the demand for connected devices. 5G technology adoption is also raising the demand for semiconductors, which led companies such as Samsung and TSMC (Taiwan Semiconductor Manufacturing Company) to initiate production of 5G chips on their 7 nm process node. Therefore, the emergence of the 5G network fuels the semiconductor silicon wafer market growth.

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The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the semiconductor silicon wafer market comprises a vast array of type, application, and node type which are expected to register strength during the coming years.

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Market Overview and Growth Trajectory:

Semiconductor Silicon Wafer Market Growth: According to an exhaustive report by The Insight Partners, the Semiconductor Silicon Wafer Market is experiencing significant growth, driven by emergence of 5g and increasing miniaturization of electronic devices. The market, valued at $12.52 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.7% during 2023–2031.

The global semiconductor silicon wafer market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth can be accredited to numerous factors. Firstly, there is a rise in preference for fabless manufacturing. Industries are increasingly adopting fabless manufacturing as it helps them to focus on innovation and design without incurring the enormous capital costs associated with developing and maintaining fabrication facilities. Furthermore, the emergence of new semiconductor applications that use AI, IoT, and automotive technologies results in increased demand for specialized chips, further driving the semiconductor silicon wafer market.

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Government Initiatives for Semiconductor Industry Growth: Supply shortages of semiconductors can lead to difficulties in the production of multiple electronic devices, which results in governments of various countries worldwide taking several initiatives to boost semiconductor production. For instance, in July 2023, the government of Germany announced its plan to invest approximately US$ 22.15 billion (€20 billion) in the semiconductor industry to attract global chipmakers to establish factories in the country. Thus, the growing number of initiatives in the semiconductor industry is expected to offer lucrative opportunities for the growth of the semiconductor silicon wafer market during the forecasted period.

Surge in Demand for Consumer Electronics: The demand for tablets, smartphones, wearables, and other consumer electronics devices, such as smartwatches, fitness trackers, VR headsets, and headsets, is increasing worldwide. According to the Groupe Speciale Mobile Association (GSMA), smartphone adoption across the globe was 76% in 2022, totaling 6.4 billion smartphone connections. The adoption is expected to reach 92% by 2030, making 9 billion connections worldwide. As semiconductors such as silicon wafers can be used to manufacture chips and microchips in electronic devices, their demand is increasing worldwide. In addition, silicon wafers are used for the production of ICs, which are one of the important parts of various electronic devices, further boosting their demand. Thus, the growing demand for consumer electronics drives the semiconductor silicon wafer market.

Increasing Miniaturization of Electronic Devices: Silicon wafers play a vital role in microelectronics and nanotechnology, where circuits must be precisely patterned at microscopic scales. The reduction in the size of electronic components, made possible by silicon wafers, has resulted in the development of increasingly powerful and compact gadgets. Silicon semiconductor wafers, with their unparalleled versatility and dependability, continue to be the foundation of technological advancement. Silicon wafers power computers' microprocessors and capture solar energy for sustainable power solutions. These wafers continue to be critical components in the semiconductor industry, driving the advancement of electronics and contributing to the ever-expanding spectrum of technological opportunities. Thus, the growing miniaturization of electronic devices is expected to boost the growth of the semiconductor silicon wafer market in the coming years.

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Geographical Insights: In 2023, APAC led the market with a substantial revenue share, followed by North America and Europe. APAC is expected to register the highest CAGR during the forecast period.

Semiconductor Silicon Wafer Market Segmentation, Applications, Geographical Insights:

Based on type, the market is divided into upto 150 mm, diameter 200 mm, diameter 300 mm, and diameter 450 mm. The diameter 300mm segment held the largest share of the semiconductor silicon wafer market in 2023.
Based on application, the market is segmented into consumer electronics, industrial, telecommunications, automotive, and others. The consumer electronics segment held the largest share of the semiconductor silicon wafer market in 2023.
Based on node type, the market is categorized into 180 nm, 130 nm, 90 nm, 65 nm, 45 nm, 22 nm, 14 nm, 7 nm, and 5 nm and below. The 7 nm segment held the largest share of the semiconductor silicon wafer market in 2023.
The semiconductor silicon wafer market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

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Key Players and Competitive Landscape:

The Semiconductor Silicon Wafer Market is characterized by the presence of several major players, including:

Okmetic
Wafer Works Corp
SUMCO CORPORATION
NANOCHEMAZONE
Alfa Chemistry
LONGi Green Energy Technology Co Ltd
Wafer World Inc.
WaferPro
PI-KEM Limited
Nano Quarz Wafer GmbH
Sino-American Silicon Products Inc.
Nanografi Nano Technology
Fujimi Incorporated
Hangzhou Semiconductor Wafer Co.,Ltd.
Ferrotec Holdings Corporation
Silicon Materials, Inc.
Shin-Etsu Chemical Co Ltd
SK Siltron Co., Ltd.
Siltronic AG
GlobalWafers Co., Ltd.

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Semiconductor Silicon Wafer Market Recent Developments and Innovations:

"LONGi Green Energy Technology Co., Ltd. (hereinafter referred to as "LONGi "), a global leader in solar technology, officially released its new TaiRay silicon wafer products to the industry recently and announced that it had completed a large number of R&D tests and system patents layout, and was ready for full-scale production."
"Wafer Works Corp, the world’s No. 6 silicon wafer supplier, announced to invest of NT$2.4 billion (US$81.41 million) to expand its 12-inch wafer capacity at an existing plant in the Longtan section of Hsinchu Science Park to meet the rising demand for chips used in vehicles."
"LONGi Green Energy Technology Co., Ltd. (hereafter "LONGi") officially announced the new world record efficiency of 30.1% for the commercial M6 size wafer-level silicon-perovskite tandem solar cell on June 19, 2024, at the 2024 Intersolar Europe in Munich, Germany."
Okmetic—the supplier of advanced silicon wafers used for manufacturing MEMS, sensors, RF, and power devices—has announced the release of an Engineered Ultra High Resistivity wafer, a premium silicon substrate dedicated to demanding RF filters and devices. This highly advanced wafer technology leverages Okmetic’s proprietary A-MCzÒ crystal growth process to deliver the highest resistivity and best technical performance in the form of approximately zero substrate-induced losses and nonlinearities for RF devices. Also, Okmetic Ultra High Resistivity wafers’ oxygen content is optimized, which improves wafer strength and makes them a viable option for ultra-high resistivity FZ wafers. (Source: Okmetic, e, Press Release, March 2021)

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Semiconductor Silicon Wafer Market Drivers and Opportunities:

In terms of revenue, Asia Pacific dominated the semiconductor silicon wafer market share, followed by North America and Europe. Asia Pacific is the manufacturing hub for semiconductors. According to the Asian Development Bank, East and Southeast Asia account for over 80% of the world's semiconductor output, which is critical for overall technological growth. This makes the world reliant on the region's semiconductor exports, making its economic prospects also dependent on global semiconductor demand. Further, countries such as China are establishing government policies that benefit the semiconductor industry. This is expected to create considerable potential opportunities for the semiconductor silicon wafer market during the forecast period. The State Council of the People's Republic of China, in April 2021, issued a framework that prioritizes the development of sophisticated semiconductor packaging solutions within the sector. Furthermore, according to material uploaded by a government-run agency, China is focusing on its aim to dominate advanced technologies of the future by establishing the world's largest semiconductor state investment fund.

Governments of various countries across Asia Pacific are emphasizing on the development of the semiconductor industry. For example, the Government of India approved the building of three new semiconductor manufacturing facilities in February 2024 as part of the country's flagship incentive program. In February 2024, the Union Cabinet approved three new semiconductor facilities as part of the "Development of Semiconductors and Display Manufacturing Ecosystems in India" agenda. The Prime Minister of India, Narendra Modi, virtually inaugurated these facilities on March 13, 2024. Similarly, from fiscal year 2021 to 2023, Japan has committed US$ 27 billion, or 0.71% of its GDP, in supplementary budgets to boost the semiconductor industry’s growth. Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, received US$ 8.4 billion in funding to build a plant in Kikuyo, Kumamoto Prefecture. Similarly, Rapidus, a Japanese chipmaker, received US$ 6.45 billion to develop next-generation semiconductor technology.

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Semiconductor Silicon Wafer Market Challenges and Future Outlook:

As per the same report, smartphone adoption in North America was 84% in 2022 and is expected to rise to 90% by 2030. Similarly, the smartphone adoption rate in Europe will boost from 84% in 2022 to 91% by 2030. In sub-Saharan Africa, an underpenetrated market, the smartphone adoption rate is predicted to grow from 51% in 2022 to 87% by 2030.

In multiple industries, wearables are utilized in tracking and managing personnel. For example, miners can be tracked under deep tunnels and alerted with a notification if signs of distress occur. Similarly, wearables are used for patients suffering from dementia to track their location if they go missing or get themselves in situations that require emergency help.

Conclusion:

The semiconductor silicon wafer market is predicted to witness strong growth during the forecast period owing to the rising demand for consumer electronic devices such as smartphones, tablets, and wearables. In addition, the growing deployment of 5G networks worldwide to increase connectivity fuels the market growth. Also, governments of various countries are taking different initiatives for the growth of the semiconductor industry. For instance, in July 2023, the government of Germany announced its plans to invest ~US$ 22.15 billion (20 billion euros) in the semiconductor industry, seeking to attract global chipmakers to establish factories in the country. Furthermore, the increasing demand for EVs and fabless semiconductor manufacturing is expected to create an opportunity for the growth of the semiconductor silicon wafer market during the forecast period. Moreover, the growing miniaturization of electronic devices is expected to propel the growth of the semiconductor silicon wafer market in the coming years.

With projected growth to $18.09 billion by 2031, the Semiconductor Silicon Wafer Market represents a significant opportunity for raw material suppliers, semiconductor silicon wafer manufacturers, end users, and industry stakeholders. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Semiconductor Silicon Wafer Market Skyrockets to $18.09 Billion by 2031 Dominated by Tech Giants - Okmetic, Wafer Works Corp and SUMCO CORPORATION | The Insight Partners

The global semiconductor silicon wafer market is set for explosive growth, with projections indicating a surge to $18.09 billion by 2031. This remarkable expansion, driven by surge in demand for consumer electronics and increasing miniaturization of electronic devices.

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