Global Silicon Wafer Market to Grow at 4.3% During 2023-2028, Stimulated by Expanding Electronics and Automotive Industries

According to the latest report by IMARC Group, titled “Silicon Wafer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global silicon wafer market is expected to grow at a CAGR of 4.3% during 2023-2028. Also known as silicon slice or substrate, a silicon wafer is used to manufacture semiconductors, which find extensive application in the production of electronic devices. Silicon wafers are reliable, durable, heat resistant and can absorb photons in sunlight to create electricity. As a result, they are utilized for product testing and in computers and mobile phones, wearable smart devices, automobile electronics, aerospace and drone technology, detection and sensor devices, home appliances, robotics, and medical and imaging equipment.

Global Silicon Wafer Market Trends:

Significant growth in the electronics and automotive industries around the world represents one of the key factors driving the global silicon wafer market. Moreover, silicon wafers are adopted by electronic manufacturers to produce compact ICs in laptops, smartphones, smartwatches, and tablets. The rising demand for these electronics acts as another growth-inducing factor. Besides this, the increasing number of solar power plants are catalyzing the demand for silicon wafers in photovoltaic (PV) cells. Furthermore, the widespread adoption of silicon wafers in touch-free human-machine interfaces, Advanced Driver-Assistance Systems (ADAS), automatic braking systems and adaptive cruise control in automobiles is contributing to the growth of the market.

Market Summary:

• Based on the wafer size, the market has been divided into 0-100 mm, 100-200 mm, 200-300 mm, and more than 300 mm.
• On the basis of the type, the market has been bifurcated into N-type and P-type.
• Based on the application, the market has been segmented into solar cells, integrated circuits, photoelectric cells, and others.
• On the basis of the end use, the market has been classified into consumer electronics, automotive, industrial, telecommunications, and others.
• Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
• The competitive landscape of the market has been examined, with some of the key players being GlobalWafers Singapore Pte. Ltd., Okmetic Oy, Shanghai Simgui Technology Co., Ltd., Shin-Etsu Chemical Co., Ltd., Silicon Materials Inc., Siltronic AG, SK Siltron Co., Ltd., Sumco Corporation, Tokuyama Corporation, Virginia Semiconductor, Inc., and Wafer Works Corporation.

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