Silicon Wafers Market Expected to Grow at 7.3% upto 2027

The latest market report published by Brisk Insights “Global Silicon Wafers Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the global market is worth US$ 6.77 Bn in 2018 and expected to reach at US$ 12.67 Bn by 2027, growing at a CAGR of 7.3% during the forecast period from 2019 to 2027.

Market Insights

"Electric vehicles & solar farms driving the silicon wafers demand"

The exponential growth of consumer electronics products has a major impact on the demand for silicon wafers that are used as ICs in electronics products. Products such as smartphones, tablets, laptops and wearable electronics products are in high demand across the globe. Besides, growing technological advancement such as IoT & IIoT where the whole area will be connected with sensors. Further, technological development such as 5G technology where special chip requires has expected to increase the silicon wafers demand in the coming years.

Moreover, with the successful launch of an electric car by Tesla, Inc. other automobile companies such as BMW, Audi, Nissan, and Hyundai, etc. are also shifting towards electric car manufacturing. Secondly, many automobile companies are investing in a new concept of driverless cars which is assembled with many chips and ICs like sensors and cameras. It is anticipated that with the growing automobile market, there will be an increase in demand for silicon wafers in the coming years.

Furthermore, the whole world is switching towards sustainable energy source and solar energy is the most widely utilized source across the globe. China, India, UAE, the U.S. are some of the leading countries that are installing solar farms across the country. In 2017, China installed about 50 GW solar capacity panels. Also, in 2018, China established a 1,547 MW solar farm in Tengger. Another Asian giant, India had also installed over 7.5 GW in 2019. The growing trend of solar farms across the world expected to drive the demand for silicon wafers which is used in its panels. This, in turn, will drive the global silicon wafers market. 

Browse the full report at https://www.briskinsights.com/report/silicon-wafers-market

The overall silicon wafers market is competitive in nature and it is growing at moderate rate. The market players are adopting strategies such as launching new production facilities, agreements, partnership & collaboration, and investment in R&D to stay competitive in the market.

Industrial Developments

• In February 2020, REC Group announced the start of production of its 72-cell alpha series solar panels. The world’s most powerful solar panel that can reach 450 WP having a module efficiency of 21.3%. With this production, the company is expecting a surge in demand for its new panel. With the growing solar panel sales, the market for silicon wafers is poised to grow in the near future.

• In December 2018, Elkem ASA announced that it will build an R&D facility for developing high value-added silicone specialties. The new center will be operational by 2020 that will bring 130 European researchers, as the company claimed. With silicones industry showing the growth of more than 5% per year, this investment for innovating silicones is a good step towards market share growth of the company. 

Key Market Movements:

• Based on wafer type, epitaxial wafer segment is the fastest growing segment on account of its wider use in photonics, consumer electronics, and microelectronics, etc. It is expected to grow with a CAGR of around 8% during the forecast period.
• Based on wafer size, 300 mm segment captured the major share of the market in 2018.
• Based on end-use, consumer electronics segment captured the major share of the global market in 2018. Subsequently, the same segment expected to keep its leading position from 2019 to 2027.
• Based on region, Asia Pacific was the largest regional silicon wafers market in 2018. Subsequently, the region anticipated to show the fastest growth during the forecast period.

List of Companies Covered:

• Elkem ASA
• Shin-Etsu Chemical Co., Ltd.
• Addison Engineering, Inc.
• Siltronic AG
• Okmetic
• SUMCO CORPORATION
• Global Wafers Japan Co. Ltd.
• Nanoshel LLC
• PV Crystalox plc
• LDK Solar High-tech Co., Ltd.
• REC Solar Holdings AS
• Tokuyama Corporation
• Silicon Materials, Inc.
• Others

The Global Silicon Wafers Market is Segmented into:

*Complete segmentation list is on report page