New York, US, Aug. 27, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Semiconductor Wafer Market information by Process, Application and Region – forecast to 2027” the market is expected to grow at the US $40 billion by 2027 with CAGR of 3.8%.
Dominant Key Players on Semiconductor Wafer Market Covered Are:
- Applied Materials (U.S.)
- ASM International (U.S.)
- Nikon (Japan)
- Hitachi High-Technologies Corporation (Japan)
- Screen Semiconductor Solutions (Japan)
- Hitachi Kokusai (Japan)
- KLA-Tencor Corporation (Japan)
- ASML Holding (Netherlands)
- Tokyo Electron Limited (Japan)
- Lam Research Corporation (U.S.)
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Semiconductor Wafer Market Drivers
Increasing Penetration of 5G Technology to Boost Market Growth
The increasing penetration of 5G technology by businesses will boost market growth over the forecast period. Businesses are shifting towards 5G connectivity with the hope of enhancing operational efficiency and increasing the transaction volumes. 5G network yields almost 20 times faster speeds and also reduced download times, hence make it ideal for applications in smart city development and automotive. The semiconductor wafer manufactured with gallium nitride (GaN) is likely to become highly renowned with the capacity of attaining a power-added efficiency of 50% more. Moreover, domains like autonomous vehicles, augmented reality, and artificial intelligence are likely to use 5G technology on a wide scale.
Surging Need across Vehicular Safety to offer Robust Opportunities
The surging need for semiconductor wafer across vehicular safety will offer robust opportunities to the market over the forecast period. With process automation increasing inroads in the automotive industry, the popularity of self-driving vehicles is getting credible momentum. The different complex chips governing the functioning of all systems should be protected against electrical faults that can undermine advanced features like collision avoidance. The auto industry makes it a must for rendering mechanical engineering more safety conscious. The standard provides strict guidelines to manufacture chips that are impervious to faulty signals and effects induced via overlocking, age, sunlight, and other radiation types. These vital legislative developments are allowing semiconductor wafer manufacturers in enhancing their production and also scale of operations across different regions.
High Cost to act as Market Restraint
The high cost of semiconductor wafer manufacturing owing to high initial investment to establish manufacturing unit may act as a market restraint over the forecast period.
Presence of Toxic Chemicals to act as Market Challenge
Semiconductor wafer manufacturers use toxic chemicals that can harm the environment which can act as a market challenge over the forecast period.
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Segmentation of Market Covered in the Research:
The global semiconductor wafer market is segmented based on process and application.
By process, the FEOL segment will lead the market over the forecast period.
By application, the automotive segment will dominate the market over the forecast period for the surge in automotive production across key regions. Semiconductor wafers are widely used for designing navigation, infotainment, and collision detection in cars.
APAC to Precede Semiconductor Wafer Market
The APAC region will precede this market over the forecast period. The region being a hub for various OEM manufacturers and potential economy like India and China, the region being a producer of semiconductor wafers, and the expanding mechanical advancement in the gadgets and car industry are adding to the semiconductor wafer market growth in the region.
North America to Have Admirable Growth in Semiconductor Wafer Market
North America will have admirable growth in the market. Robust need of microchip for various smart electronics application, growing ownership of 5G-enabled technological devices, different end-use applications ranging from artificial intelligence, connected devices, and IoT effectively leveraging semiconductor wafers, and defense & commercial applications involving 5G technologies are adding to the global semiconductor wafer market growth in the region.
Europe to Have Robust Growth in Semiconductor Wafer Market
Europe will have robust growth in the market over the forecast period. Extensive applications of semiconductor wafer across the automotive industry, increased investments by prominent market players, the presence of top players such as Infineon Technologies in Austria that offer semiconductor and system solutions that facilitate energy efficiency, security and mobility concepts, and the company offering semiconductor solutions for the chip card and security solutions industrial power control, power management and multimarket, and automotive are adding to the global semiconductor wafer market growth in the region.
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During the COVID-19 pandemic, the semiconductor wafers market is likely to vary across various end use industries. In the midst of the emergency, the market assessed at USD 9.7 billion in the year 2020 and is likely to arrive at an overhauled size of USD 13.4 billion by 2027, growing at a 4.7% CAGR during 2020-2027. Customer electronics is likely to grow at a 5.4% CAGR and touch USD 7.1 billion. Post investigation of the outbreak’s business ramifications and its actuated financial emergency, the development in the industrial fragment is straightened out to an overhauled 4.9% CAGR. Continental AG, a German auto supplier giant stated that a rebound in Chinese demand following a global sales slump owing to the pandemic has led to a shortage of semiconductors that may create bottlenecks till 2021, irrespective of prompt responses from the semiconductor manufacturers.
The demand is likely to remain sustained in the wake of the soaring consumer electronic sales in the last few months. India for instance registered a double digit growth in the consumer electronics and appliances segment since September 2020, for the onset of the festive season thus bolstering uptake of semiconductor wafer components. Samsung India, for instance, reported a 32% growth with regards to refrigerators, microwaves, washing machines, and televisions, thus widening the scope of semiconductor wafer sales.
SK Siltron, leading semiconductor wafer manufacturer has announced plans of investing $300 million and create up to 150 high-paying, skilled jobs in Bay County. The company manufactures a specialty wafer made of silicon carbide which can be utilized in the semiconductor power components of electric vehicles.
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