A New Market Study, titled “GaAs Wafer Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
The GaAs wafer market is projected to touch USD 1224.3 million at a healthy 12% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Gallium arsenide or GaAs, simply put, is a semiconductor compound of two elements- gallium and arsenic. It is a product that is produced after smelting zinc and aluminium. It has wide applications in aerospace and defense, optoelectronic devices, wireless communication, photovoltaic devices, mobile devices, and others.
Various factors are propelling the GaAs wafer market share. According to the recent MRFR report, such factors include the increasing adoption of 4G & 5G network, growing demand for smartphone manufacturers, burgeoning demand for smartphones, photovoltaic devices, laptops, and digital cameras, extended battery life, more economical and efficient than silicon, better scalability, compatibility, and functionality with IoT network, and growing demand for such wafers in electronics for high thermal stability and electron mobility. Additional factors adding market growth include increasing use in ultra-high radio frequency applications and electronic switching, increasing digitalization, demand for smart network, rapid urbanization, high disposable income, rising adoption of such wafers, and increasing investments in research and development in developing and developed countries.
On the contrary, high production costs, strict regulations related to toxic emissions, and the impact of the on-going COVID-19 outbreak may impede the global GaAs wafer market growth over the forecast period.
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The MRFR report highlights an inclusive segmental analysis of the global GaAs wafer and Epi wafer market based on production method and application.
By production method, the global GaAs wafer market is segmented into metal-organic vapour phase epitaxy (MOVPE), molecular beam epitaxy (MBE), liquid encapsulated Czochralski (LEC), and vertical gradient freeze (VGF). Of these, the vertical gradient freeze segment will lead the market over the forecast period.
By application, the global GaAs wafer market is segmented into aerospace and defense, optoelectronic devices, wireless communication, photovoltaic devices, mobile devices, and others. Of these, wireless communication will dominate the market over the forecast period.
By region, the global GaAs wafer industry covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Among these, the APAC region will dominate the market over the forecast period. Increasing smartphone users, favorable initiatives by the government to make smart cities, an increasing number of telecom industries and semiconductor manufacturers, and rapid urbanization are adding to the global GaAs wafer market growth in the region. Additional factors adding market growth include increasing use of gallium arsenide wafers in the electronics industry and rising spending capacity. Japan, Taiwan, and China have the maximum share in the market, while South Korea and India will develop at a quick pace over the forecast period.
The global GaAs wafer market in North America is predicted to have healthy growth over the forecast period. The presence of eminent players, coupled with the high adoption of new technologies is adding to the global GaAs wafer market growth in the region.
The global GaAs wafer market in Europe is predicted to have sound growth over the forecast period for the increasing usage of these wafers in consumer electronics applications.
The global GaAs wafer market in the RoW is predicted to have steady growth over the forecast period.
Eminent players profiled in the global GaAs wafer market report include Visual Photonics Epitaxy Co, Ltd. (Taiwan), United Monolithic Semiconductors (France), Qorvo, Inc. (US), IQE plc (UK), Freiberger Compound Materials GmbH (Germany), Sumitomo Electric Semiconductor Materials Inc. (US), Intelligent Epitaxy Technology, Inc. (US), Powerway Advanced Material Co., Ltd. (China), Century Epitech Co Ltd. (China), AXT Inc. (US), WIN Semiconductors Corporation (Taiwan), Ommic S.A. (France), Global Communication Semiconductors, LLC (US), and Advanced Wireless Semiconductor Company (Taiwan), among others.
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