Silicon Wafer Global Market Report 2024

The silicon wafer market size has grown strongly in recent years. It will grow from $17.03 billion in 2023 to $18.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed during the historic period can be attributed to several factors, including the increased proliferation of smartphones, laptops, and other consumer electronics, the growing integration of semiconductor components in vehicles, the heightened adoption of automation in industrial sectors, the expansion of telecommunications networks, the transition to 5G technology, and the expansion of solar energy installations.

The silicon wafer market size is expected to see strong growth in the next few years. It will grow to $24.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The projected growth in the forecast period can be attributed to several factors, including the increased adoption of electric vehicles, the expansion of the Industrial Internet of Things (IoT), rising investments in renewable energy, growing economic development, and the increasing proliferation of IoT devices. Key trends expected during this period encompass the adoption of three-dimensional integration techniques for semiconductor devices, the integration of artificial intelligence (AI) technologies into various applications, the development of edge computing infrastructure for IoT applications, innovations in materials, and a focus on sustainability in semiconductor manufacturing.

The silicon wafer market is poised for growth due to a significant increase in solar panel installations. Solar panels, also known as photovoltaic (PV) panels, convert sunlight directly into electricity using multiple solar cells. They offer renewable and sustainable energy sources, presenting an attractive alternative to finite fossil fuels, which contribute to environmental pollution and climate change. Silicon wafers are integral components of solar panels, efficiently converting solar radiation into electricity and promoting sustainable energy practices while reducing reliance on fossil fuels. For example, a report published by the National Renewable Energy Laboratory (NREL) in April 2023 revealed that global photovoltaic (PV) installations reached 231 gigawatts of direct current (GWdc) in 2022, totaling 1.2 terawatts of direct current (TWdc) cumulatively. China witnessed a 57% annual increase in PV installations, accounting for 42% of global demand, driven mainly by distributed PV installations. Forecasts predict annual installations to exceed 300 GW by 2023 and surpass 400 GW by 2025, thereby driving the silicon wafer market.

Key players in the silicon wafer market are focusing on developing advanced wafer technologies to meet growing demand for semiconductor applications. Silicon carbide single-crystal wafers, for instance, offer enhanced performance, improving the efficiency and compactness of power modules. This contributes to advancements in energy efficiency and the miniaturization of electronic devices. In March 2022, The Showa Denko Group launched mass production of 6-inch silicon carbide single-crystal wafers (SiC wafers), crucial for SiC-based power semiconductors known for their superior heat resistance and voltage endurance. These semiconductors cater to rising demands in sectors such as electric vehicles, railcars, and industrial machinery.

In March 2021, GlobalWafers Co. Ltd. acquired a 70% stake in Siltronic AG, aiming to bolster its position in the silicon wafer industry. This strategic move expands GlobalWafers’ market presence, enhances production capacity, and diversifies product lines, ensuring better service for its global customer base. Siltronic AG, based in Germany, specializes in producing hyper-pure silicon wafers.

Major companies operating in the silicon wafer market are International Business Machines Corporation (IBM), The Dow Chemical Company, Sumitomo Electric Industries Ltd., Applied Materials Inc., Komatsu Electronic Metals Co. Ltd., Shin-Etsu Chemical Co. Ltd., Texas Instruments Incorporated, Mitsubishi Materials Corporation, United Microelectronics Corporation (UMC), SUMCO Corporation, GlobalWafers Co. Ltd., Siltronic AG, SunEdison Inc., SOITEC SA, SunEdison Semiconductor Limited, Wafer Works Corporation, EV Group (EVG), Shinryo Corporation, Okmetic Oy, Topsil Semiconductor Materials A/S, MTI Corporation, NexWafe GmbH, MEMC Electronic Materials Inc., SK Siltron Co. Ltd., Silicon Materials Inc., Ultrasil Corporation.

Asia-Pacific was the largest region in the silicon wafer market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the silicon wafer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the silicon wafer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A silicon wafer is a slender slice of semiconductor material, typically silicon, utilized in the fabrication of integrated circuits and various microdevices. Serving as the foundation for microelectronic devices, these wafers are indispensable in the production of electronics ranging from computers to solar cells. The manufacturing process involves slicing silicon ingots into wafers, which are then polished and doped to achieve the desired electrical properties.

The primary types of silicon wafers comprise N-type and P-type. N-type wafers are doped with elements such as phosphorus or arsenic to generate an excess of negative (electron) charge carriers and are employed in the production of electronic components such as diodes, transistors, and solar cells. These wafers are categorized into various sizes, including 0-100 mm, 100-200 mm, 200-300 mm, and over 300 mm, catering to end-users in sectors such as consumer electronics, automotive, industrial, telecommunications, and others.

The silicon wafer market research report is one of a series of new reports that provides silicon wafer market statistics, including silicon wafer industry global market size, regional shares, competitors with an silicon wafer market share, detailed silicon wafer market segments, market trends and opportunities, and any further data you may need to thrive in the silicon wafer industry. This silicon wafer 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 silicon wafer market consists of sales of polished wafers, epitaxial wafers, silicon-on-insulator (SOI) wafers, and diffusion wafers. 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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