PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388772
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388772
Silicon wafers, also known as Si wafers, are thin slices of exceptionally pure crystallized silicon. These wafers serve as a foundation for microelectronic devices and are particularly valuable in the construction of electronic circuits due to their conductivity and affordability. In terms of abundance, silicon ranks seventh among the most prevalent elements in the entire universe and second on Earth. It is a primary component in construction materials such as brick, cement, and glass. Moreover, silicon holds the distinction of being the most widely used semiconductor, making it a cornerstone of the electronic and technology industry. Wafers provide consumers with an extraordinary sensory experience, offering both a lightweight and indulgent quality. The increasing demands from consumers have further propelled the growth of the wafer category.
The expansion of GPS tracking systems has led to an increased demand for semiconductor devices, consequently driving the need for silicon wafers. The integration and miniaturization of these systems are a continuous objective due to the widespread use of GPS tracking in various applications. The growth of GPS tracking systems is largely influenced by the Internet of Things (IoT), as IoT devices often require GPS functionality for tracking and location-based services. Over the past decade, the GPS tracking industry has experienced rapid growth, resulting in an estimated market size of USD 3.38 billion by 2025, with a projected CAGR of 11.58 percent, according to GPS Tracking Statistics. Additionally, ongoing research and development, along with future innovations in Emerging Technologies, present potential growth opportunities for the market. However, the high cost of quality silicon wafers may pose a constraint on market growth.
The Global Silicon Wafer Market is segmented on the basis of Size, Application, and Region.
The market is divided into four categories based on size: 150mm, 200mm, 300mm, and 450mm. 300mm size segment dominates the Silicon Wafer Market. Silicon Valley Microelectronics offers 300mm silicon wafers in a diversity of specifications, appropriate for a broad range of applications.
The market is divided into three categories based on application: Solar cells, Integrated Circuits, Photoelectric Cells, and Others. The solar cells segment dominates the market. Because wafer-based solar cells cannot create power when it is black, they store energy and may therefore be utilized when there is no light. It is analogous to plant photosynthesis and may be performed by charging electrochemical batteries for storage.
This market is extensive over North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Based on the nations participating in business, the market is segmented into regions. North America is expected to lead market expansion and acknowledgment of the automobile industry's favourable prospects. The increasing popularity of electric vehicles is driving the demand for essential silicon carbide power electronics components. The US currently has an estimated 3 million electric cars, which is approximately 1% of the total number of cars on the road. In 2022, automakers produced around 442,000 electric vehicles, indicating a significant increase in production. The automotive industry in North America is undergoing a transformation with the integration of advanced electronics, connectivity, and autonomous features. These advancements require sophisticated semiconductor components, including silicon wafers for manufacturing microchips, sensors, and control units. The automotive sector presents significant growth opportunities for silicon wafer suppliers. Furthermore, the Asia Pacific region is expected to drive market growth in the forecast period due to the increasing adoption of smart devices.
The semiconductor industry's demand for wafers to produce integrated circuits is the primary driver of the silicon wafer market. The Key players have successfully completed multiple projects in the silicon wafer industry, allowing clients to establish and expand their businesses. Through vertically integrated product lines of single crystal ingot, polished, and Epi wafers, the manufacturers of this market offer a wide range of wafer solutions for customers. Additionally, the manufacturers specialize in manufacturing various doped silicon wafers, which are extensively utilized in semiconductor devices for power and digital applications. Furthermore, prominent firms have made considerable developments in alternative energy-saving sectors, including PV and LED technologies, to fulfill market demand for smaller, more energy-efficient devices, therefore contributing to environmental conservation and preservation. Manufacturers compete fiercely to manufacture smaller, less expensive, and quicker processors for ever-powerful technological devices. Microprocessors, commodity integrated circuits, memory chips, and sophisticated systems on a chip are the four primary categories of semiconductors.
On February 22, 2023, Silicon wafers have traditionally been a semiconductor industry mainstay, serving as the foundation for the overwhelming majority of electronic products. However, as next-generation technology advances, the need for silicon wafers is growing stronger. In recent years, silicon wafer performance has shown to be unrivaled in the field of semiconductors.
The scope of this report covers the market by its major segments, which include as follows: