Thin Wafer Market Size, Share, Opportunities, And Trends By Thickness (Less Than 100 Micrometer, 100-199 Micrometer, Greater Than 200 Micrometer), By Application (MEMS, Memory, LED, RF Devices, Image Sensor, Others), And By Geography - Forecasts From 2023 To 2028

  • Published : May 2023
  • Report Code : KSI061610412
  • Pages : 127

The thin wafer market is predicted to grow at a CAGR of 4.03% from US$8.404 billion in 2021 to US$11.085 billion by 2028.

The market for thin wafers is rising due to the increasing demand for smartphones and smart wearable devices coupled with technological innovation in the sector. Rapidly growing urbanization and high disposable income has increased the demand for electronic devices such as smartphones, LEDs, and Smart TV. To meet the growing demand for cutting-edge gadgets, many top consumer electronics companies, including Apple, Samsung, Redmi, and Oneplus, are investing heavily in their development and research efforts. Moreover, increasing demand for other thin devices, such as smart TV with slim bodies, smartwatches, etc. is expected to drive noteworthy demand for thin wafers. Rising investments in R&D activities by various countries are expected to surge the market growth in the coming years.

Rising adoption of photovoltaics and technological development to boost the growth of the market.

The thin wafer market is expected to surge in the coming years due to the rising adoption of photovoltaics. Increasing human carbon footprints have raised serious environmental concerns due to which there is a high demand for the development of sustainable means of energy production which includes the adoption of photovoltaics. The thin wafer is the essential raw material which is used to produce solar cells hence its demand is increasing in the market. For instance, in November 2022, a new photovoltaic material has been created by researchers at the IIT Mandi that may produce electricity when exposed to light from LED or CFL household light sources. This study supports the widespread deployment of loT technology in modern culture. IoT devices are being used more regularly by cell phones, home automation, and other systems that require various forms of real-time data. These devices must be independent, producing electricity of their own without the assistance of power cables. These devices are currently powered by both the main and secondary batteries. Every battery has a finite life expectancy and is neither cost-effective nor environmentally beneficial.

Shifting focus towards LEDs on account of their increasing use in a wide range of applications in the consumer electronics and lighting industry is increasing the demand for efficient semiconductors which is expected to increase the demand for thin wafers across the industry. Growing focus on the well-being of the environment and implementation of effective energy efficiency programs across various countries has significantly increased the demand for LED in the market. For example- The government of India has initiated the use of bulk procurement of LED lights which will help the country in conserving energy. This in turn is driving the adoption of thin wafers for LEDs, thus boosting the demand for efficient LED solutions and increased capacity of photovoltaics in the commercial/industrial areas. For instance, as per the 2022 report of the International Energy Association, the net capacity of PVs increased from 27 GW in 2021 to 30 GW in 2022, which has led to an increase in the demand for thin wafers in the market.

Further, the introduction of Industry 4.0 and technologies like loT and Al in the automobile industry will have a big impact on the expansion of the thin wafer market. The growing demand for connected vehicles will lead to new technological developments. Additionally, the relevance of linked cars is expanding as a result of current trends like touch-free human-machine interfaces, which are revolutionizing the automotive industry. The advent of new technologies including adaptive cruise control, intelligent parking assistance systems, and advanced driver assistance systems will further spur market expansion.

Additionally, governments in both developed and developing countries are making significant investments in the production of thin wafer semiconductors. The growth of semiconductors has also been aided by key players' cooperation and increased R&D expenditures. For instance, the German government has spent close to 3 billion euros reclaiming the locations of semiconductor manufacturing. The IoT and Industry 4.0's increasing need for semiconductors are the driving forces behind this investment, and the production facilities improve access to enough microchips to keep up with the newest trends.

Key Developments:

  • According to Argonne National Laboratory data, in March 2023, 93,218 hybrid electric vehicles were sold in the United States which made up 21.7% of the sales in March 2022 and a total of 100,605 plug-in vehicles were further sold in the United States accounting for 81,346 BEVs and 19,259 PHEVs.
  • According to the data provided by the National Energy Administration, the overall solar capacity of China reached 392.61 GW in 2022 which signified a major increase of 28.1% in comparison to 306.GW was recorded in 2021. Moreover, as per the same source, the country saw an additional installation of 87.41 GW in the same year.

The Asia Pacific region is anticipated to hold the largest share of the market during the forecasted period and grow at an exponential rate.

Based on geography, the global thin wafer market is divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific region. The Asia Pacific region is projected to hold a large share of the market and grow at the fastest rate during the forecasted period. Industrialization in countries such as India, China, South Korea, Vietnam, Thailand, and others, has led to mushrooming of consumer electronic manufacturing units in these countries that will support the market. Furthermore, increased disposable income has surged penetration of smart devices, particularly smartphones which also supports market prospects. Moreover, favourable climatic conditions have surged the construction of solar projects, expanding the market for photovoltaics, and hence thin wafers.

Thin Wafer Market Scope:


Report Metric Details
Market Size Value in 2021 US$8.404 billion
Market Size Value in 2028 US$11.085 billion
Growth Rate CAGR of 4.03% from 2021 to 2028
Base Year 2021
Forecast Period 2023 – 2028
Forecast Unit (Value) USD Billion
Segments Covered Thickness, Application, And Geography
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered SK siltron Co. Ltd., Siltronic, Sumco Corporation, Virginia Semiconductor Inc., Global Wafer Co. Ltd., PV Crystalox Solar plc, Wafer Works Corporation
Customization Scope Free report customization with purchase



  • By Thickness
    • Less than 100 μm
    • 100-199 μm
    • Greater than 200 μm
  • By Application
    • MEMS
    • Memory
    • LED
    • RF Devices
    • Image Sensor
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Taiwan
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Thin Wafer market was valued at US$8.404 billion in the year 2021.
The thin wafer market is predicted to reach a market size of US$11.085 billion by 2028.
The global thin wafer market is predicted to grow at a CAGR of 4.03% over the forecast period.
The Asia Pacific region is anticipated to hold the largest share of the thin wafer market.
The thin wafer market is rising due to the increasing demand for smartphones and smart wearable devices coupled with technological innovation in the sector.


1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline


2.1. Research Data

2.2. Assumptions


3.1. Research Highlights


4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis


5.1. Introduction

5.2. Less than 100 μm

5.3. 100-199 μm

5.4. Greater than 200 μm


6.1. Introduction

6.2. MEMS

6.3. Memory

6.4. LED

6.5. RF Devices

6.6. Image Sensor

6.7. Others


7.1. Introduction

7.2. Americas

7.2.1. By Thickness

7.2.2. By Application

7.2.3. By Country USA Others

7.3. Europe Middle East and Africa

7.3.1. By Thickness

7.3.2. By Application

7.3.3. By Country UK Germany France Others

7.4. Asia Pacific 

7.4.1. By Thickness

7.4.2. By Application

7.4.3. By Country China Japan Taiwan South Korea Others


8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix


9.1. SK Siltron Co. Ltd.

9.2. Siltronic

9.3. Sumco Corporation

9.4. Virginia Semiconductor Inc.

9.5. Global Wafer Co. Ltd.

9.6. PV Crystalox Solar plc

9.7. Wafer Works Corporation

9.8. Virginia Semiconductor Inc.

9.9. Shin-Etsu Chemical Co., Ltd.

9.10. DISCO Corporation. 

SK siltron Co. Ltd.


Sumco Corporation

Virginia Semiconductor Inc.

Global Wafer Co. Ltd.

PV Crystalox Solar plc

Wafer Works Corporation