Market Size of Silicon Epitaxial Wafer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.42 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Silicon Epitaxial Wafer Market Analysis
The Silicon Epitaxial Wafer Market is expected to register a CAGR of 4.42% during the forecast period. The growing demand for advanced semiconductors and increasing innovative end-user applications drive the market studied. Epitaxial is mainly done to enhance the functionality of wafers. In recent years, technology has become essential for manufacturing highly integrated semiconductor elements (ICs), image sensors (CIS), and specific power semiconductors.
- Semiconductor silicon wafer remains the core component of many microelectronic devices and forms the cornerstone of the electronics industry. With digitization and electronic mobility being the current trends in technology, these products are finding applications in many devices.
- Currently, the demand for silicon wafers in the market exceeds the supply in the industry. This factor creates considerable scope for expansion, as the companies utilize this trend to expand their market shares by ramping up production.
- In addition, the demand for small-sized gadgets has increased the requirement for more functionalities from a single device. This means that an IC chip should now house more transistors to support more functionalities. Thus, the advancements in wireless computing devices, such as smartphones and tablets, have helped increase semiconductor designers' design activities. Further, the growing need for miniaturization in electronics (due to the demand for thinner wafers that consume low power) is expected to drive some advancements in the silicon epitaxial wafer market over the forecast period.
- The average prices in the industry are increasing. For instance, the Japanese company, Shin -Etsu Chemical Co . , which holds most of the market share, announced a price hike on all silicon wafer products to rise from 10 % -20 % from April 2021 onwards. The companies are taking advantage of the growing demand, further impacting the revenue accrued. GlobalWafer Co . , the second largest silicon wafer supplier, said that their silicon wafer production lines are fully loaded, coupled with the price hike, which led to an increase in revenue in March, which reached a 12 .99 % yearly increase.
- Consumer-centric end-user industries, such as consumer electronics, have robust demand for silicon wafers, forcing vendors in the industry to expand production facilities while investing in research to innovate.
- Due to COVID-19, China disrupted the country's supply chain and production. Major semiconductor manufacturing industries have been significantly affected due to China becoming a world production center over the past two to three decades.
