The semiconductor manufacturing material market was valued at US$56.884 billion in 2021 and is anticipated to grow at a CAGR of 3.25% over the forecasted period to reach a market size of US$71.143 billion in 2028.
The market for semiconductor manufacturing material market is significantly impacted favourably by the growing usage of semiconductor chips from the end user industry.
As per the report, the global semiconductor manufacturing material market is expected to grow at a significant pace.
Semiconductor manufacturing materials are critical in the complex process of creating electronic gadgets that fuel our current technological world. Silicon, a commonly used element because of its availability and remarkable electrical characteristics, is at the forefront of these materials. Silicon, as the foundation of the semiconductor industry, enables the fabrication of integrated circuits and microchips, which serve as the foundation for a wide range of electronic applications. Beyond silicon, elements such as germanium and gallium arsenide have niche applications in semiconductor devices. Continuous development and innovation in semiconductor production materials are critical in addressing the increasing need for quicker, smaller, and more efficient electronic components, which drives improvements in electronics and technology in general.
One of the primary factors fueling the semiconductor manufacturing material business throughout the predicted period is the rising demand for consumer electronics. Companies are introducing new and developed items into their product lines that are equipped with technologies such as the Internet of Things (IoT), and numerous end-user industries are implementing the usage of modern consumer electronic devices for efficient functioning. The growing growth of IoT technologies such as NB-IoT and Cat-M, which generally consist of wide-area situations, is one of the factors driving the semiconductor fabrication material market higher. Furthermore, in countries such as China, where car production is prevalent, the use of such materials is expanding, boosting the need for semiconductor manufacturing materials.
The market is witnessing multiple collaborations and technological advancements, for instance, in August 2022, Indium Corporation introduced a new line of goods based on their GalliTHERM line, which provides revolutionary solutions based on gallium-based liquid metals. These products will be increasingly used in semiconductor fabrication.
The global semiconductor manufacturing material market has been categorized based on type and geography.
Based on type the global semiconductor manufacturing material market is divided into silicon, germanium, gallium arsenide and others. Among these, the silicon segment is anticipated to expand at a high CAGR over the forecast period. Silicon has traditionally been the chosen material for semiconductor manufacture due to its availability, low cost, and outstanding electrical properties. It is frequently employed in the fabrication of integrated circuits and other semiconductor devices. While germanium and gallium arsenide are used in certain applications such as high-frequency devices, silicon remains the market leader in the semiconductor manufacturing material industry due to its widespread acceptance and continual developments in silicon-based technology.
Based on Geography the North American region is likely to grow at a significant rate over the forecast period. The semiconductor manufacturing material market is expanding due to its critical role in allowing technical improvements and innovation across a wide range of sectors, including electronics, telecommunications, automotive, and healthcare. The region is further subdivided into the United States, Canada, and Mexico. The United States will likely retain a significant share of the semiconductor manufacturing material industry, driven by rising demand for high-performance semiconductors for emerging technologies such as 5G, artificial intelligence, and electric vehicles, as well as government support for domestic semiconductor production. The Canadian market is predicted to grow significantly as a result of many reasons, including a strong technological industry, greater investment in research and development, and a focus on sustainable semiconductor manufacturing techniques.
As a part of the report, BASF SE, LG Chem Ltd, Indium Corporation, Resonac, KYOCERA Corporation, Henkel AG & Company KGAA, Sumitomo Chemical Co. Ltd, Dow Chemical Co., International Quantum Epitaxy PLC, Nichia Corporation are the major players in the global semiconductor manufacturing material market
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This global semiconductor manufacturing material market has been analyzed into the following segments:
- By Type
- Gallium Arsenide
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America