March 2, 2024

Epitaxial Wafer Market Is Driven By Rising Demand Of Integrated Circuits In Consumer Electronics

Epitaxial wafers are widely used in manufacturing of integrated circuits in electronic devices owing to their properties of uniform thickness and higher precision. Advances in microelectronics have led to widespread use of integrated circuits in consumer electronics and semiconductor industry. Integrated circuits find applications in various consumer electronic devices such as smartphones, laptops, smart TVs, tablets and wearable electronic devices. Growing demand for high performance consumer electronics have fueled the requirement of advanced integrated circuits manufactured using epitaxial wafer substrates. Epitaxial wafers help in production of integrated circuits with smaller node size and higher transistor density which supports functionality of next generation electronics.

 The global Epitaxial Wafer Market is estimated to be valued at US$ 938.32 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Epitaxial wafers made of such advanced materials have superior electrical and thermal properties for developing high power and RF semiconductors. For instance, silicon-germanium wafers enable fabrication of heterojunction bipolar transistors with high speed and power handling capability essential for 5G infrastructure. Additionally, gallium nitride based epitaxial wafers are extensively used in manufacturing of LEDs and power electronics. Adoption of advanced materials is expected to drive innovations in next generation semiconductor devices and support market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the epitaxial wafer market is moderate. High capital requirements and the need for technical expertise restrict new players from entering this market easily.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of many established players and availability of substitutes in this market.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials and less differentiation in parts and components.

Threat of new substitutes: The threat of new substitutes in the epitaxial wafer market is low as there are limited alternatives available for epitaxial wafers.

Competitive rivalry: Competition in the epitaxial wafer market is high given the presence of numerous international and regional players competing on the basis of product quality, technology and pricing.

Key Takeaways

The Global Epitaxial Wafer Market Size is expected to witness high growth during the forecast period of 2023-2030. The market size is projected to increase from US$ 938.32 Bn in 2023 to US$ XX Bn by 2030, registering a CAGR of 12%.

North America is expected to dominate the global epitaxial wafer market during the forecast period. The region has a strong presence of key manufacturers such as Northrop Grumman Corporation, Lockheed Martin Corporation etc. Furthermore, rising demand for smartphones and consumer electronics is also propelling the growth of the epitaxial wafer market in the region.

Key players operating in the Epitaxial Wafer market include Northrop Grumman Corporation, BAE Systems, Lockheed Martin Corporation, Clearpath Robotics Inc., John Bean Technologies Corporation, ECA Group, Israel Aerospace Industries Ltd., Endeavor (Now a part of FLIR system), Harris Corporation, and General Dynamics. Northrop Grumman Corporation is one of the largest players in the market and offers a wide range of epitaxial wafers for various applications.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it