Semiconductor Materials Market worth USD 74.87 billion by 2028, registering a CAGR of 5.38% – Report by Market Research Future (MRFR)
New York, Sept. 09, 2021 (GLOBE NEWSWIRE) — Semiconductor Materials Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Semiconductor Materials Market Information: By Material Type (Wafer Fab Materials, Packing Materials), By End-Use (Consumer Electronics, Healthcare, Automotive, Aerospace, Others) and By Region- Forecast to 2028” the market size is projected to be worth USD 74.87 billion by 2028, registering a CAGR of 5.38% during the forecast period (2021 – 2028), The market was valued at USD 55.42 billion in 2020.
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Competitive Landscape:
Eminent players profiled in the global Semiconductor Materials industry report include-
- BASF SE (Germany)
- LG Chem Ltd (South Korea)
- DowDuPont (US)
- Indium Corporation (US)
- Shin-Etsu MicroSi, Inc. (Japan)
- Hitachi Chemical Co Ltd. (Japan)
- Caplinq Corporation (Canada)
- UTAC Holdings Ltd. (Singapore)
- Sumitomo Chemical Co., Ltd. (Japan)
- Nichia Corporation (Japan)
- Intel Corporation (US)
- Kyocera Corporation (Japan)
- Henkel AG & Company, KGaA (Germany), and others.
Market USP:
Market Drivers
The primary factors driving the market’s growth are rising demand for microelectronic devices as a result of the trend toward portable devices and digitalization, which has increased the semiconductor industry’s consumption and development of wafers. Additionally, the rising demand for electronics and the global expansion of the e-vehicle industry are expected to boost the semiconductor materials market during the review period. The increasing adoption of electronic components by numerous end-use industries in order to develop multi-property components and provide high-performance components to industries is a significant factor driving the semiconductor materials market’s growth.
Additionally, the increased digitization of global economies, the deployment of 5G technologies, and robust investments in data centers and cloud services all contribute to the continued upward trend. Advanced node integrated circuits, 3D memory architectures, and heterogeneous integration all require additional processing steps, resulting in increased wafer fabrication and packaging material consumption.
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Market Restraints:
However, the manufacturing process for semiconductor materials is extremely costly and energy intensive, which is likely to restrain global market growth during the review period.
COVID-19 Analysis
2020 was a watershed year in both human history and the semiconductor industry. It was a year marked by business and personal disruptions caused by COVID-19, supply chain disruptions, and the extraordinary agility with which industries adjusted to the pandemic’s new normal. Nonetheless, it was a banner year for the semiconductor industry, which includes semiconductor manufacturing materials.
Market Segmentation
According to Material Type, the wafer fab materials segment captured the largest market share of 3% in 2018 and is expected to continue dominating the global market throughout the forecast period. The increase is due to the growing demand for wafer materials in device technologies. The photolithography process makes extensive use of wafer fabrication materials.
Consumer electronics is expected to drive the market in terms of end-use industry. Since the late 1920s, consumer electronics demand has been increasing. The consumer electronics industry has come a long way as a result of innovation and development in smartphones, tablets, and other gadgets. The segment generated revenue of USD 338.21 billion in 2018 and is expected to grow at a CAGR of more than 12% through 2025.
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Regional Insights:
The North American market is growing due to a well-established semiconductor manufacturing industry and growing adoption of portable devices. Additionally, the expanding aerospace industry is likely to boost regional product demand.
Europe’s market growth is being fueled by increased automobile production and a focus on affordable and durable consumer electronics.
Asia-Pacific held the largest market share of over 40% in 2018 and is expected to maintain this level of dominance throughout the forecast period. This is primarily due to the product’s high demand in the manufacturing of automobiles, particularly electric vehicles due to their lightweight nature, and the region’s growing aerospace industry. Additionally, players operating in Asia’s major economies, such as China, India, Japan, and South Korea, are rapidly expanding semiconductor material production capacities.
The combination of semiconductors in electronic systems used in the construction industry and renewable energy components is expected to drive the Middle East and Africa market’s growth.
During the review period, the automotive industry’s expansion in Latin America is also expected to boost regional market growth.
Segmentation of Market covered in the research:
Semiconductor Materials Market Information: By Material Type (Wafer Fab Materials, Packing Materials), By End-Use (Consumer Electronics, Healthcare, Automotive, Aerospace, Others) and By Region- Forecast to 2028
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