The Global Advanced Materials for Semiconductor Market is set to experience substantial growth over the next decade, according to the latest market analysis. Valued at an estimated US$ 50.7 billion in 2023, the industry is projected to expand at a remarkable compound annual growth rate (CAGR) of 12.2% from 2024 to 2034, reaching an impressive US$ 176.4 billion by the end of 2034.
The burgeoning market is being driven by the increasing adoption of flexible and printed electronics, which is significantly enhancing the demand for advanced semiconductor materials. Recent advancements in flexible electronics and digital technologies have spurred investments in inorganic semiconducting materials, particularly for applications requiring smaller and more energy-efficient devices. Graphene semiconductors, known for their superior power efficiency compared to silicon, are increasingly being adopted, heralding a new era of high-performance electronics. Furthermore, vendors are actively exploring the use of silicon carbide across various industries, capitalizing on its efficiency at high voltages, especially in applications like electric vehicle power converters and high-speed charging stations.
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Market Introduction
Advanced semiconductor materials play a critical role in the development of various electric and optical devices, including diodes, transistors, and Integrated Circuits (ICs). These materials are integral to the manufacturing of smartphones, industrial devices, self-driving vehicles, advanced medical devices, and a wide array of other electronic products.
Among the diverse types of advanced semiconductor materials, Gallium Arsenide (GaAs), Gallium Phosphide (GaP), Indium Phosphide (InP), graphene, Transition Metal Dichalcogenides (TMDs), and black phosphorus stand out. GaAs, a III-V direct band gap semiconductor, is widely used in diodes, Field-effect Transistors (FETs), and ICs. Meanwhile, GaP is a polycrystalline compound semiconductor essential for LED production, and InP, a binary semiconductor, finds applications in optoelectronic components, high-speed electronics, and photovoltaics.
Market Drivers
- Rise in Adoption of Flexible and Printed Electronics
The growing adoption of flexible and printed electronics is a key driver of market growth. Inorganic, organic, and hybrid composite semiconducting materials are increasingly used in the development of these technologies, with inorganic semiconductor materials favored for their superior performance and stability, and organic semiconductors valued for their cost-effective processing in ambient environments.
The research and development (RD) of new flexible and printed electronics are significantly boosting market revenue. A notable example is the partnership between Adidas AG and Infineon Technologies AG in 2023, which resulted in the creation of the Lighting Shoe. This innovative footwear integrates high-end sensor technology, reacting to environmental music and beats with dynamic and programmable lighting effects, thereby showcasing the potential of advanced semiconductor materials in consumer electronics.
- RD of Smaller and More Energy-efficient Devices
The increasing demand for faster, more powerful, and energy-efficient semiconductors is poised to drive market expansion. Vendors are investing heavily in 2nm technology to enhance performance, reduce power consumption, and increase transistor density. Advanced and high-performance semiconductor materials are anticipated to play a crucial role in the production of these cutting-edge technologies.
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Expansion in IT and Telecommunications Sector Fueling Market Progress
Semiconductors are indispensable to the telecom infrastructure, particularly in the expansion of 5G networks. As telecommunication companies, semiconductor manufacturers, and governments collaborate to scale up 5G adoption, the advanced materials for semiconductor market is set to benefit from increased investment. A February 2023 report by McKinsey highlighted that telecommunication providers are expected to invest approximately US$ 600 billion in 5G infrastructure between 2022 and 2025, further propelling market growth.
Regional Outlook
Asia Pacific emerged as the leading region in the advanced materials for semiconductor market in 2023, driven by the expansion of the consumer electronics sector and the presence of major semiconductor manufacturers. According to the Consumer Electronics and Appliances Manufacturers Association, the appliances and consumer electronics sector in India is projected to grow by about 10% in 2024, as key players introduce more premium products, contributing to the market's upward trajectory.
Analysis of Key Players
Key players in the global advanced materials for semiconductor market are focusing on developing products that enable precision materials processing at high volumes, enhancing productivity in challenging applications such as thin film solar cell patterning, battery foil cutting, and silicon wafer scribing.
Prominent companies include WOLFSPEED, INC., Coherent Corp., Sumitomo Electric Industries Ltd., Nichia Corporation, Soitec, AXT, Inc., ENTEGRIS, Samsung Electronics Co., Ltd., IQE PLC, Applied Materials, LG Chem Ltd., Resonac Holdings Corporation, BASF SE, and KYOCERA Corporation. Each of these companies has been profiled in the market report based on their company overview, business strategies, financial performance, business segments, product portfolio, and recent developments.
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