Silicon Wafer Market Projected at $13.2 Billion by 2031 at 9.3% CAGR

Silicon wafer shipments and revenues are rising continuously to cater to the burgeoning demand for chips for use in various industries, increasingly in the defense, automotive, telecommunication, and aerospace industries. Semiconductor wafer suppliers have reaped significant revenue gains from rise in prices of silicon wafers. The global market is projected to surpass valuation of US$ 13.2 Bn by 2031, reports Transparency Market Research.

 

Growing use of microelectronic chips and systems in AI and IoT have shaped the development of the silicon wafer market. Players in the semiconductor industry have in recent years vigorously pushed for attaining lower cost per chip. This aspect has spurred the shift toward larger diameter wafers. The TMR study on silicon wafer market observed that there is a shift toward production of 450mm silicon wafers, in addition to 50mm and 300mm sized wafers.

 

Ever-increasing need for next-gen chips for both consumer and commercial applications is reinforcing advancements in silicon wafer manufacturing process. Need for state-of-the art semiconductor devices for photovoltaic (PV) equipment is a case in point. Which is enriching the prospects of the silicon wafer market. Silicon wafers are widely utilized in ICs, MEMS, sensors, and diverse range of microelectronics.

 

Both high-value and high-volume production of chips in Asia Pacific has made the region highly lucrative in the global silcon wafer market. High concentration of chip foundries in Taiwan has spurred the sales of silicon wafers in Asia Pacific. Rise in demand for semiconductor devices in data centres and computing devices is catalysing revenue growth of the Asia Pacific silicon wafer market.

 

Key Findings of Silicon Wafer Market Study

 

• Widespread Use of Silicon Wafers in Microelectronics & MEMS Generating Abundant Opportunities: Growing utilization of silicon wafers for MEMS and microelectronics is spurring the application in consumer electronics. Commercially, silicon wafers nanotechnology is gathering traction in the photovoltaic industry. Abundant use of Si-wafer-based solar cells has been propelling revenue potential for silicon wafer manufacturers in the USA. They are keen on developing high-end silicon wafer manufacturing processes for meet the demands for chips for memory and logic chips. Of note, solar cells based on semiconductor nanostructures have opened a new frontier in the global silicon wafer market.
• Need for Advanced Wafers for Consumer Electronics Expanding Lucrative Avenue: Focus on improving technical performance of silicon wafers has boosted the market prospects for newer array of products that can be used in next-gen microelectromechanical systems (MEMS) and sensors. Additionally, the adoption of advanced wafers is also growing in consumer electronics. Multiple applications of memory and logic chips underpins tremendous revenue potential in the silicon wafer market.
• Next-gen Silicon Wafer Manufacturing Tech Expanding Profitable Avenues: Top silicon wafer manufacturing companies are leaning on launching tailored silicon substrates customized for certain applications. A case in point is a few leading players in the silicon wafer market expanding their product lines for meeting the requirements of thin film surface acoustic wave hybrid structures. Evidently, demand for ultra-flat silicon wafers have expanded the horizon for chip manufacturers.

 

Silicon Wafer Market: Key Drivers

 

• Rapidly increasing demand for semiconductors for automotive electronics is key force for the expansion of avenues in the silicon wafer market. Rise in demand for chips for artificial intelligence applications, 5G connectivity networks, and autonomous drive vehicles is spurring the production of silicon wafers.
• Wafer foundry capacity expansion in recent years most notably in Asia presents abundant lucrative opportunities for silicon wafer producers and suppliers.

 

Silicon Wafer Market: Strategic Landscape

 

Top silicon wafer manufacturing companies in the world are stridently geared toward the production of wafers to ensure stable supply of silicon wafers in the semiconductor industry. Multinational semiconductor manufacturing companies are also reinforcing their propriety silicon material manufacturing technologies to assert their distinctive competencies in the silicon wafer market. Recent cases of such efforts have been made by Global Foundries, Okmetic, SUMCO Corporation, and Wafer Works Corporation.

 

Other key players in the silicon wafer market are Wafer World Inc., Siltronic AG, SK Siltron Co. Ltd., Globalwafers Co. Ltd, and Taiwan Semiconductor Manufacturing Company.