PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1100689
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1100689
The global semiconductor materials market size was valued at USD 58,127.5 million in 2021, growing at a registered CAGR of 5.5% during the forecast period 2022 to 2028.
Semiconductors come in binary, ternary, and quaternary configurations. Based on the various applications, semiconductor products are available in a variety of sizes and shapes.
The Global Semiconductor Materials Market is being driven by wireless technologies and optoelectronics devices. For optoelectronic devices, compound semiconductors are in high demand. The increasing global demand for mobile and wireless devices has fueled the expansion of the Semiconductor Materials Market. Semiconductor materials have qualities that are important in electrical technology and appliances, such as wide temperature limitations, low power consumption, and high electron mobility. Semiconductor materials are also employed in light-emitting devices such as LEDs and lasers. Compound semiconductor materials are employed in space applications because of their strong resistance to radiation and heat. They are combined with solar cells installed on spacecraft. These magnetically sensitive compounds are employed in sensing applications. Furthermore, compound semiconductor materials are utilised in optical data storage devices. These reasons are expected to help the Global Semiconductor Materials Market develop. Furthermore, the increasing use of electronic components by various organizations to manufacture multi-property components and provide high-performance parts to end-user industries is critical to the growth of the Semiconductor Materials Market.
The COVID-19 pandemic had a detrimental impact on the market during the first quarter of 2020, causing disruptions in supply chains in China and other major electronics manufacturing countries in Asia, resulting in a global scarcity of semiconductor chips. As a result, numerous enterprises are boosting their orders and stockpiling the essential semiconductor components for end-product manufacture in order to avoid delays in the event of a component shortage.
The Global Semiconductor Materials Market is segmented on the basis of Product, Application, and Region
The market is divided into two segments based on product: Fab Materials and Packaging Materials. In the Global Semiconductor Materials Market, Packaging Material has the highest CAGR. These materials are mostly employed in the aerospace industry for a number of applications such as power supplies for space and aviation, solid-state relays and contractors, and VLF transmitters.
In terms of application the market is divided into Computers, Communications, Consumer Goods, Defense & Aerospace, and Other. The Global Semiconductor Materials Market's fastest growing segment is communications. Factors influencing the rising demand for semiconductors used in mobile phones and wireless communication. GaAs substrates are utilized in power amplifiers in smartphones. Because of their greater speed and efficiency over silicon semiconductors, their application in wireless technology is expanding, driving demand for the communication segment.
Because of the presence of technology-driven enterprises focusing on product differentiation, the market is highly fragmented. Companies are also focusing on obtaining core capabilities connected to a variety of service offerings through a variety of strategies such as mergers and acquisitions, strategic alliances, and vertical integration across the value chain. The leading firms' tactics for meeting rising demand in regional markets include capacity expansion and acquisitions.
For instance, In October 2022, BASF and Entegris agreed to sell the Precision Microchemicals business to Entegris for USD 90 million. The transaction, which includes technologies, intellectual property, and trademarks, is scheduled to close by the end of 2022. Precision Microchemicals is part of BASF's Coatings division's Surface Treatment business area, which operates under the Chemetall name. It develops, and markets high purity products, such as cleaning chemistries and Chemical Mechanical Planarization slurries used in electronic material machining and surface conditioning.
The scope of this report covers the market by its major segments, which include as follows: