How Big is the Silicon Wafer Market ? :
According to 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 size reached US$ 11.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
What is Silicon Wafer ? :
A silicon wafer is a thin slice of crystalline silicon, primarily used as a substrate for the fabrication of semiconductor devices such as integrated circuits (ICs). Its characteristics include high purity, stable chemical properties, and precise dimensional control. Silicon wafers are generally manufactured through intricate processes that involve the growth of single-crystal silicon ingots, which are then sliced, polished, and cleaned to specific standards. The working mechanism of a silicon wafer involves its usage as a base upon which microelectronic devices are built. It serves as a physical platform for the circuitry components that harness electrical signals, contributing to the functionality of everything from mobile phones to medical equipment.
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Competitive Landscape with Key Players:
Global Silicon Wafer Market Trends:
The global market is primarily driven by the increasing demand for consumer electronics, where these wafers are used as a critical component in ICs. In line with this, the burgeoning growth in the automotive industry requiring high-end semiconductor devices is providing an impetus to the market. Moreover, the expansion of the renewable energy sector, specifically in solar photovoltaic cells that utilize silicon wafers, is acting as a significant growth-inducing factor for the market. In addition to this, the rise in technological advancements in semiconductor manufacturing processes, leading to more efficient and cost-effective wafers, is resulting in a higher demand.
Besides this, the emerging needs for high-performance computing in various sectors, from healthcare to finance, are creating lucrative opportunities in the market. Also, the continuous development in telecommunications infrastructure, needing cutting-edge silicon-based components, is impacting the market positively.
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Key Market Segmentation:
Breakup by Wafer Size:
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Key highlights of the report:
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