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Global Semiconductor Materials Market to Reach US$ 72.6 Billion by 2024, Stimulated by Booming Electronics Industry

According to the latest report by IMARC Group, titled “Semiconductor Materials Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global semiconductor materials market size reached US$ 52.4 Billion in 2018. Semiconductor materials are a class of crystalline solids that have an electrical conductivity range between that of an insulator and a conductor. Although these materials do not exhibit either electric conductivity or insulation at room temperature, they can conduct electricity when subjected to light, heat, or voltage after the doping phase. Moreover, semiconductor materials are reliable, cost-effective, power-efficient and compact, owing to which they are widely employed in the manufacturing of several electronic components, including integrated circuits, transistors, microprocessors and diodes.

Global Semiconductor Materials Market

Global Semiconductor Materials Market Trends:

Widespread digitalization and the utilization of smart technologies and automation in various applications ranging from industrial to residential sectors represent the key factors driving the global semiconductor materials market. In recent years, rapid technological innovations in the electronics industry have increased the use of semiconductor materials in the manufacturing of processors and sensors. Since these components are installed in appliances such as air conditioners, televisions, rice cookers, washing machines, refrigerators and smart lighting, their rising demand acts as a growth-inducing factor for the market. Also, based on the semiconductor material market research, the automobile industry is experiencing a high demand for car-mounted sensor systems for providing enhanced driving experiences to consumers, such as the Advanced Driver Assistance Systems (ADAS). Moreover, with increasing urbanization, and rising internet penetration, there has been a consequent upswing in the adoption of the internet of things (IoT)-enabled smart devices. This, in turn, has led to a rise in the usage of semiconductor-based components. On account of these factors, the market value is projected to reach US$ 72.6 Billion by 2024, expanding at a CAGR of 5% during the forecast period (2019-2024).

Market Summary:

  • Based on the material, the market has been segmented as silicon carbide, gallium manganese arsenide, copper indium gallium selenide, molybdenum disulfide and bismuth telluride.
  • On the basis of the application, the market has been segregated into the fabrication and packaging segments.
  • The market has been categorized based on the end user industry into consumer electronics, manufacturing, automotive, energy and utility, and others.
  • Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been examined with detailed profiles of the key players operating in the industry. Some of the global semiconductor materials market competitors include BASF SE, LG Chem Ltd., Indium Corporation, Hitachi Chemical Co. Ltd, Kyocera Corporation, Henkel AG & Company KGAA, Sumitomo Chemical Co. Ltd., DuPont de Nemours, Inc., International Quantum Epitaxy (IQE) PLC, Nichia Corporation, Intel Corporation and United Test and Assembly Center (UTAC) Holdings Ltd.

 

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