Gallium Arsenide Wafer Market Revenue Growth, Segments & Global Forecast 2027
Posted by sneha patil on March 31st, 2022
The global GaAs wafer market is projected to touch USD 1224.3 million at a healthy 12% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Gallium arsenide or GaAs, simply put, is a semiconductor compound of two elements- gallium and arsenic. It is a product that is produced after smelting zinc and aluminium. It has wide applications in aerospace and defense, optoelectronic devices, wireless communication, photovoltaic devices, mobile devices, and others.
Various factors are propelling the global Gallium Arsenide Wafer Market share. According to the recent MRFR report, such factors include the increasing adoption of 4G & 5G network, growing demand for smartphone manufacturers, burgeoning demand for smartphones, photovoltaic devices, laptops, and digital cameras, extended battery life, more economical and efficient than silicon, better scalability, compatibility, and functionality with IoT network, and growing demand for such wafers in electronics for high thermal stability and electron mobility. Additional factors adding GaAs wafer market growth include increasing use in ultra-high radio frequency applications and electronic switching, increasing digitalization, demand for smart network, rapid urbanization, high disposable income, rising adoption of such wafers, and increasing investments in research and development in developing and developed countries.
On the contrary, high production costs, strict regulations related to toxic emissions, and the impact of the on-going COVID-19 outbreak may impede the global GaAs wafer market growth over the forecast period.
Prominent players in global GaAs wafer market are Advanced Wireless Semiconductor Company (Taiwan), Global Communication Semiconductors, LLC (US), Ommic S.A. (France), WIN Semiconductors Corporation (Taiwan), AXT Inc. (US), Century Epitech Co Ltd. (China), Powerway Advanced Material Co., Ltd. (China), Intelligent Epitaxy Technology, Inc. (US), Sumitomo Electric Semiconductor Materials Inc. (US), Freiberger Compound Materials GmbH (Germany), IQE plc (UK), Qorvo, Inc. (US), United Monolithic Semiconductors (France), and Visual Photonics Epitaxy Co, Ltd. (Taiwan) among others.
The MRFR report highlights an inclusive segmental analysis of the global GaAs wafer and Epi wafer market based on production method and application.
By production method, the global GaAs wafer market is segmented into metal-organic vapour phase epitaxy (MOVPE), molecular beam epitaxy (MBE), liquid encapsulated Czochralski (LEC), and vertical gradient freeze (VGF). Of these, the vertical gradient freeze segment will lead the GaAs wafer market over the forecast period.
By application, the global GaAs wafer market is segmented into aerospace and defense, optoelectronic devices, wireless communication, photovoltaic devices, mobile devices, and others. Of these, wireless communication will dominate the market over the forecast period.
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The global market for GaAs wafers is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of GaAs wafer market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the GaAs wafer market during forecast period. Increasing population, increasing number of semiconductor manufacturers, telecom industries, government initiatives to make smart cities, and increasing smartphone users are a few factors driving the GaAs wafer market in Asia-Pacific. China, Taiwan, Japan are expected to dominate the GaAs wafer market in Asia-Pacific. Whereas, India, South Korea, are expected to grow at a fast rate during forecast period.
North America is expected to register a considerable growth during the forecast period. High adoption of new technologies and presence of big players is also driving the North American GaAs wafer market.
Europe is expected to remain stable during forecast period due to increasing use of GaAs wafers in consumer electronics applications.
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About the Authorsneha patil
Joined: December 28th, 2020
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