Global Compound Semiconductor Materials Market Size, Share, Growth Analysis, By Types(Gallium nitride (GaN), gallium arsenide (GaAs)), By Application(Optoelectronics (LEDs, lasers))

Description

Global Compound Semiconductor Materials Market size was valued at USD 38.92 million in 2022 and is poised to grow from USD 40.40 million in 2023 to USD 54.44 million by 2031, growing at a CAGR of 3.80% during the forecast period (2024-2031).

The compound semiconductor materials market is witnessing robust growth, fueled by their diverse applications in electronics, optoelectronics, and power devices. The increasing demand for high-speed and efficient components in 5G technology, IoT devices, and renewable energy systems is a key driver for this expansion. Gallium nitride (GaN) and silicon carbide (SiC) materials are gaining prominence due to their superior properties. However, challenges such as high production costs and limited substrate availability may impede market growth. To address these issues, ongoing research focuses on developing cost-effective manufacturing processes, and collaborations between industry players and research institutions are expected to play a pivotal role in shaping the market's evolution.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Compound Semiconductor Materials Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Compound Semiconductor Materials Market Segmental Analysis

The global compound semiconductor materials market can be segmented based on type, application, and region. In terms of type, it includes gallium nitride (GaN), gallium arsenide (GaAs), silicon carbide (SiC), and others. Application-wise, it covers optoelectronics (LEDs, lasers), power electronics (inverters, converters), and radio frequency (RF) devices. Geographically, the market is divided into North America, Europe, Asia Pacific, and the rest of the world.

Drivers of the Global Compound Semiconductor Materials Market

Compound semiconductor materials like Gallium Nitride (GaN) and Silicon Carbide (SiC) are renowned for their exceptional electronic and optical characteristics. These materials find application in high-frequency and high-power electronic devices, playing a crucial role in telecommunications, satellite communication, and radar systems. The growing need for such devices and technologies contributes significantly to the rising demand for compound semiconductor materials.

Restraints in the Global Compound Semiconductor Materials Market

The production of compound semiconductor materials typically entails intricate manufacturing procedures and requires specialized equipment, contributing to elevated production expenses in contrast to conventional semiconductors. This cost dynamic poses a restriction on their widespread adoption, particularly in applications characterized by price-sensitive markets.

Market Trends of the Global Compound Semiconductor Materials Market

The growing embrace of 5G technology and the consequent requirement for elevated frequencies, swifter data rates, and reduced latency have spurred a surge in demand for compound semiconductor materials. Notably, gallium nitride (GaN) and gallium arsenide (GaAs) are pivotal in this scenario, showcasing exceptional performance attributes in high-frequency and high-power applications. These materials play a vital role in the advancement of cutting-edge wireless communication devices.

Product Code: SQMIG45O2027

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Compound Semiconductor Materials Market by Types

Market Overview
Gallium nitride (GaN)
gallium arsenide (GaAs)
silicon carbide (SiC)
and others

Global Compound Semiconductor Materials Market by Application

Market Overview
Optoelectronics (LEDs
lasers)
power electronics (inverters
converters)
and radio frequency (RF) devices

Global Compound Semiconductor Materials Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Qorvo, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Skyworks Solutions, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Cree, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
II-VI Incorporated - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Taiwan Semiconductor Manufacturing Company (TSMC) - Taiwan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sumitomo Electric Industries, Ltd. - Japan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Samsung Electronics Co., Ltd. - South Korea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
MACOM Technology Solutions Holdings, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nichia Corporation - Japan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Infineon Technologies AG - Germany
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
IQE plc - United Kingdom
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Analog Devices, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Advanced Micro Devices, Inc. (AMD) - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Lumentum Holdings Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
United Monolithic Semiconductors (UMS) - France
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Broadcom Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
AXT, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
OSRAM Opto Semiconductors GmbH - Germany
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
GlobalFoundries - United States (with manufacturing locations globally)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sivers Semiconductors AB - Sweden
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Compound Semiconductor Materials Market Size, Share, Growth Analysis, By Types(Gallium nitride (GaN), gallium arsenide (GaAs)), By Application(Optoelectronics (LEDs, lasers)) - Industry Forecast 2024-2031