Gallium Global Market Report 2024

The global gallium market has grown exponentially in recent years. It will grow from $1.85 billion in 2023 to $2.32 billion in 2024 at a compound annual growth rate (CAGR) of 25.5%. The growth in the historic period can be attributed to electronics industry, medical applications, solar energy, aerospace and defense.

The global gallium market is expected to see exponential growth in the next few years. It will grow to $5.38 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to renewable energy, electric vehicles, advanced materials, nanotechnology. Major trends in the forecast period include gallium nitride (gan) dominance, recycling and sustainability, hybrid solar cells, healthcare innovations.

The gallium market is poised for growth, thanks to the surging adoption of solar panels. Solar panels, also known as photovoltaic (PV) panels, harness the photovoltaic effect to directly convert sunlight into electricity. Notably, gallium plays a crucial role in the production of thin-film solar panels. These panels excel at converting a higher portion of sunlight into energy compared to other solar cells. They offer a flexible and lightweight alternative to conventional silicon-based solar panels. For instance, in September 2021, the United States witnessed a remarkable addition of 13.2 gigawatts (GW) of utility-scale solar power in 2021, setting an annual record that marked a 25% increase over the 10.6 GW added in 2020. Furthermore, small-scale solar capacity installations in the United States also experienced significant growth, surging by 5.4 GW in 2021, a 23% boost compared to 2020 (4.4 GW). Consequently, the ever-increasing adoption of solar panels is poised to drive the gallium market.

The gallium market is on an upward trajectory, fueled by the increasing demand for semiconductors. Semiconductors are solid materials that exhibit electrical conductivity properties falling between those of insulators and conductors. Gallium arsenide (GaAs), a semiconductor material, finds application in high-performance electrical and photonic devices, including power amplifiers, high-frequency circuits, and specific types of solar cells. These semiconductors are versatile and can be integrated into a wide array of electrical systems and automotive components. For example, as of December 2021, the global semiconductor sales reached $48.8 billion in October 2021, marking a 2.4% increase compared to the $39.4 billion recorded in October 2020. Furthermore, semiconductor sales were expected to surge by 26% in 2021 and are projected to surpass $600 billion in 2022, according to a report from the Semiconductor Industry Association. Hence, the growing sales of semiconductors are a key driver for the gallium market.

The gallium market may face hindrances due to strict export controls during the forecast period. These controls can lead to a reduction in international supply, potentially causing higher gallium prices in the upcoming years. For example, in August 2023, China implemented restrictions on the export of six germanium and eight gallium products, citing national security concerns. China's Ministry of Commerce required exporters of such goods to apply for export licenses for dual-use items and technologies, which could have applications in both military and civilian sectors. Consequently, these stringent export controls have an impact on the growth of the gallium market.

Prominent companies operating in the gallium market are prioritizing innovation by introducing advanced product solutions like gallium nitride (GaN) control integrated circuits to enhance their market position. A gallium nitride (GaN) power integrated circuit (IC) consolidates various power electronics functions into a single GaN chip, providing advantages in terms of speed, efficiency, reliability, and cost-effectiveness. For instance, in March 2023, Navitas Semiconductor Corporation, a U.S.-based power-semiconductor company, launched GaNSense Control ICs, a series of gallium nitride (GaN) control integrated circuits designed to enhance performance in rapid chargers, consumer appliances, and server and data center power supplies. These GaN ICs offer significant advantages over conventional high-voltage silicon (Si) processors, delivering up to 20 times the speed and three times the charging capacity in half the size and weight.

In September 2022, Allegro MicroSystems Inc., a U.S.-based provider of sensing and power semiconductor solutions, acquired Heyday Integrated Circuits for an undisclosed sum. This acquisition brings together Heyday's isolated gate drivers and Allegro's isolated current sensors to create compact, high-voltage, and high-efficiency power systems. Furthermore, it enables Allegro to strengthen its presence in potential markets such as electric vehicles (xEV), solar inverters, data centers, and 5G power supplies. Heyday Integrated Circuits is a France-based company known for its development of integrated isolated gate drivers for energy conversion in high-voltage gallium nitride (GaN) and silicon carbide (SiC) wide-bandgap (WBG) semiconductor designs.

Major players in the gallium market are ArcelorMittal SA, BHP Group Limited, Rio Tinto Corp., Thermo Fisher Scientific Inc., Vale SA, Aluminium Corp of China Ltd., Glencore PLC, Sharp Corporation, CMOC Group Limited, Sigma-Aldrich Corporation, Materion Corporation, Nalco Chemical Company, DOWA HOLDINGS CO. LTD., Indium Corporation, Umicore N.V., China Minmetals Rare Earth Co. Ltd., 5N Plus Inc., Nanjing Jinmei Gallium Co. Ltd., Strem Chemicals Inc., GEO Specialty Chemicals, American Elements Corporation, Zhuzhou Keneng New Material Co. Ltd. Inc., SMI Ltd., Fortis Metals Ltd., Nippon Rare Metal Inc.

North America was the largest region in the gallium market in 2023. The regions covered in gallium report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the gallium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product categories associated with gallium include Gallium Nitride (GaN) radio frequency devices, opto-semiconductors, and power semiconductors. GaN (Gallium Nitride) radio frequency devices encompass semiconductor components designed to amplify and process radio frequency signals, leveraging the distinctive properties of gallium nitride. These components encompass transistors, diodes, rectifiers, power integrated circuits, and more, available in various wafer sizes such as 2-inch, 4-inch, 6-inch, and 8-inch. These products cater to diverse end-user sectors, including automotive, consumer electronics, defense and aerospace, healthcare, industrial and power, information and communication technology, and others.

This report provides gallium market statistics, including gallium industry global market size, regional shares, competitors with a gallium market share, detailed gallium market segments, market trends and opportunities and any further data you may need to thrive in the gallium industry. This gallium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The gallium market consists of sales of gallium in soluble form, alloys, high-purity gallium and gallium compounds. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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