The Global Epitaxial Wafer for Compound Semiconductor Market size is expected to reach $7.8 billion by 2030, rising at a market growth of 13.2% CAGR during the forecast period.
High electron mobility is a common property of quantum epitaxial wafers, which facilitates quicker electron movement and improved device performance. In high-speed electronic equipment, this is very crucial. Hence, the CS Quantum segment registered $195.9 million revenue in 2022. Quantum confinement effects are made possible by the exact control of the thickness of material at the nanoscale level provided by the epitaxial growth process. The engineering of quantum dots and wells with distinct energy levels and discrete electronic states makes use of these features. Some of the factors impacting the market are escalating demand for LED lighting, increasing implementation of compound semiconductors in smart technologies, and large initial capital expenditures.
The increasing popularity of energy-efficient LED lighting is driving the epitaxial wafer industry. Epitaxial wafer technology's benefits, including low manufacturing costs and improved device sensitivity, promote market expansion. The development of LED lighting systems in important developed and developing countries is driven by rising consumer awareness of green technology and a growing focus on decreasing global electricity usage. The epitaxial layer that is growing on top of the silicon wafer serves to improve the electrical properties of the wafer, raising the power density of LED illumination. Additionally, it is anticipated that the smart technologies of the next generation will be constructed out of a wide array of cutting-edge materials, such as carbon nanotubes, superconductors, as well as compound semiconductors such as GaN. A smart grid and other intelligent infrastructures are unable to function without the development of new power electronics, cable insulators, cable types, cable dielectrics, and energy storage technologies. Thus, the growing usage of LED lights and the emergence of smart technologies propels the growth of the market.
However, the cost of purchasing or constructing a power or non-power infrastructure that is anticipated to be repaid via power income is an "initial capital investment." This includes all expenses related to strategizing, designing, buying land, and constructing, as well as any investments made during construction. As a result, the wafer manufacturing process needs qualified people and skilled staff. The high price of chaveound semiconductor (CS) epitaxial wafers, which results from their expensive manufacturing procedures and raw materials, has a limited impact on the market's growth.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include II-VI Incorporated, WOLFSPEED, INC., Ennostar, Inc., GlobalWafers Co., Ltd. (Sino-American Silicon Products Inc.), SVT Associates, Inc., International Quantum Epitaxy, Plc., Masimo Semiconductor, Inc., Nichia Corporation, Siltronic AG and Sumitomo Electric Industries, Ltd.
High electron mobility is a common property of quantum epitaxial wafers, which facilitates quicker electron movement and improved device performance. In high-speed electronic equipment, this is very crucial. Hence, the CS Quantum segment registered $195.9 million revenue in 2022. Quantum confinement effects are made possible by the exact control of the thickness of material at the nanoscale level provided by the epitaxial growth process. The engineering of quantum dots and wells with distinct energy levels and discrete electronic states makes use of these features. Some of the factors impacting the market are escalating demand for LED lighting, increasing implementation of compound semiconductors in smart technologies, and large initial capital expenditures.
The increasing popularity of energy-efficient LED lighting is driving the epitaxial wafer industry. Epitaxial wafer technology's benefits, including low manufacturing costs and improved device sensitivity, promote market expansion. The development of LED lighting systems in important developed and developing countries is driven by rising consumer awareness of green technology and a growing focus on decreasing global electricity usage. The epitaxial layer that is growing on top of the silicon wafer serves to improve the electrical properties of the wafer, raising the power density of LED illumination. Additionally, it is anticipated that the smart technologies of the next generation will be constructed out of a wide array of cutting-edge materials, such as carbon nanotubes, superconductors, as well as compound semiconductors such as GaN. A smart grid and other intelligent infrastructures are unable to function without the development of new power electronics, cable insulators, cable types, cable dielectrics, and energy storage technologies. Thus, the growing usage of LED lights and the emergence of smart technologies propels the growth of the market.
However, the cost of purchasing or constructing a power or non-power infrastructure that is anticipated to be repaid via power income is an "initial capital investment." This includes all expenses related to strategizing, designing, buying land, and constructing, as well as any investments made during construction. As a result, the wafer manufacturing process needs qualified people and skilled staff. The high price of chaveound semiconductor (CS) epitaxial wafers, which results from their expensive manufacturing procedures and raw materials, has a limited impact on the market's growth.
Application Outlook
Based on application, the market is characterized into CS power electronics, CS RF/microwave, CS sensing, CS photonics, and CS quantum. The CS photonics segment procured a considerable growth rate in the market in 2022. A wide range of photons, including those with infrared, visible, and ultraviolet wavelengths, can be emitted and absorbed by compound semiconductors. They are adaptable for usage in a variety of applications, from optical communication to imaging and sensing, owing to this property. Photonic integrated circuits (PICs) with complicated and highly functional architectures can be made by integrating compound semiconductor photonics with traditional semiconductor electronics.
End-user Outlook
On the basis of end user, the market is classified into digital economy, industrial, energy & power, defense/security, transport, consumer electronics, healthcare, and space. The healthcare segment witnessed a promising growth rate in the market in 2022. Numerous medical device improvements now taking place are anticipated to drive up demand for cutting-edge compound semiconductors. Advances in semiconductor technology are required as a result of these advances. It is projected that there would be an increase in the demand for epitaxial wafers for compound semiconductors in the medical industry due to a number of variables.Regional Outlook
Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment garnered the maximum revenue share in the market in 2022. The market's growth is linked to a number of variables, including the increasing adoption of IoT, self-driving vehicles, and smartphone penetration. As smartphone demand has increased and smartphone technology has advanced, smaller and thicker integrated circuits (ICs) have appeared. These semiconductors are used in a variety of electronic equipment, including consumer electronics, telecommunications gear, computers, and other things. As a result, this factor will lead to an increase in the region's demand for epitaxial wafers.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include II-VI Incorporated, WOLFSPEED, INC., Ennostar, Inc., GlobalWafers Co., Ltd. (Sino-American Silicon Products Inc.), SVT Associates, Inc., International Quantum Epitaxy, Plc., Masimo Semiconductor, Inc., Nichia Corporation, Siltronic AG and Sumitomo Electric Industries, Ltd.
Strategies Deployed in the Market
- May-2023: GlobalWafers Co., Ltd. signed an agreement to acquire Crystalwise Technology Inc., a manufacturer of oxide compound substrate in Taiwan, from Sino-American Silicon Products Inc. The acquisition aims to expand the product portfolio of GlobalWafers.
- Jun-2021: GlobalWafers Co., Ltd. signed an agreement with GLOBALFOUNDRIES, a company engaged in feature-rich semiconductor manufacturing. The agreement added 300mm silicon-on-insulator (SOI) wafer manufacturing and expanded the current 200mm SOI wafer production at GWC's MEMC facility in O'Fallon, Missouri.
- Mar-2021: II-VI Incorporated signed an agreement with Coherent, Inc., a provider of laser-based system solutions and laser-based technologies. Together, the companies would have opportunities to strengthen their competitiveness by leveraging combined scale across the value chain, accelerate growth through complementary technology platforms, gain access to deeper market intelligence and expertise, and further diversify their businesses by end market and geography.
- Aug-2020: II-VI Incorporated announced an agreement to acquire Ascatron AB, a provider of silicon carbide (SiC) epitaxial wafers and devices. This acquisition will expand the manufacturing power of II-VI Incorporated around the globe with the help of the technology platforms of Ascatron AB.
- Sep-2019: II‐VI Incorporated partnered with LITE-ON Technology Corporation, a company engaged in providing optoelectronic components, for manufacturing and commercialization of packaged semiconductor lasers in volume for mass-market LiDAR. The first was released in the middle of 2020. The companies aimed to utilize their respective high-volume manufacturing platforms for semiconductor lasers and optoelectronic packaging to jointly commercialize a wide range of laser solutions over time, spanning from near infrared (NIR) to shortwave infrared (SWIR).
- Aug-2019: Cree (Wolfspeed) signed an agreement with ON Semiconductor following which the former company aimed to manufacture and supply its Wolfspeed® silicon carbide wafers to ON Semiconductor. A more than $85 million contract calls for Cree to offer ON Semiconductor advanced 150mm silicon carbide (SiC) bare and epitaxial wafers for use in high-growth industries like electric vehicles and industrial applications.
- Jan-2019: Cree, Inc. signed an agreement with STMicroelectronics, the seller of intelligent and energy-efficient semiconductor products and solutions, in which STMicroelectronics will receive the Wolfspeed® silicon carbide (SiC) wafers from Cree, Inc. This agreement will also increase the presence of Cree, Inc. in the geographical market. 2019-Jan: Cree came into an agreement with STMicroelectronics, a semiconductor company, for manufacturing and supplying its Wolfspeed® silicon carbide (SiC) wafers to STMicroelectronics. During this moment of tremendous growth and demand for silicon carbide power devices, the agreement governs the supply of a quarter billion dollars’ worth of Cree's advanced 150mm silicon carbide bare and epitaxial wafers to STMicroelectronics.
Scope of the Study
Market Segments Covered in the Report:
By Application
- CS Power Electronics
- CS RF/Microwave
- CS Sensing
- CS Quantum
- CS Photonics
By End-user
- Industrial, Energy & Power
- Defense/Security
- Digital Economy
- Transport
- Healthcare
- Consumer Electronics
- Space
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- II-VI Incorporated
- WOLFSPEED, INC.
- Ennostar, Inc.
- GlobalWafers Co., Ltd. (Sino-American Silicon Products Inc.)
- SVT Associates, Inc.
- International Quantum Epitaxy, Plc.
- Masimo Semiconductor, Inc.
- Nichia Corporation
- Siltronic AG
- Sumitomo Electric Industries, Ltd.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 5. Global Epitaxial Wafer for Compound Semiconductor Market by Application
Chapter 6. Global Epitaxial Wafer for Compound Semiconductor Market by End User
Chapter 7. Global Epitaxial Wafer for Compound Semiconductor Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- II-VI Incorporated
- WOLFSPEED, INC.
- Ennostar, Inc.
- GlobalWafers Co., Ltd. (Sino-American Silicon Products Inc.)
- SVT Associates, Inc.
- International Quantum Epitaxy, Plc.
- Masimo Semiconductor, Inc.
- Nichia Corporation
- Siltronic AG
- Sumitomo Electric Industries, Ltd.
Methodology
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