Epitaxial wafers Market also known as epi wafers, refers to crystalline film grown on a crystalline substrate through epitaxial growth. It is used in semiconductor and optoelectronics devices such as integrated circuits, LEDs, lasers, solar cells, and transistors. Epi wafer act as a base material for manufacturing of these devices. Growing demand for silicon wafers in the semiconductor industry has resulted in increasing use of epi wafers.
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.
Growing demand for silicon wafers in semiconductor industry: Growing adoption of semiconductor integrated circuits in various industries such as consumer electronics, automotive, healthcare, and telecommunications is driving the demand for silicon wafers. Epitaxial wafer is a crucial material used in the manufacturing of silicon wafers. This increased demand for silicon wafers from end use industries is expected to propel the growth of global epitaxial wafer market over the forecast period.
Growing demand for silicon wafers is refered to in the heading as one of the opportunity and its explanation covers the usage of epi wafer and end use industries driving the demand for silicon wafers increases the usage of epi wafers in turn, leading to the growth of epi wafer market over the forecast period as explained in 200 words covering the driver.
The epitaxial wafer market is dominated by the power segment which holds around 40% share of the overall market. Power electronics devices such as IGBTs, MOSFETs, and thyristors require epitaxial wafer and their increasing demand from industries like consumer electronics, automotive, industrial has been driving the demand for power segment epitaxial wafers. Epitaxial wafers are important in the fabrication of power electronics devices due to their excellent characteristics like high precision, smooth surface, and chemical & mechanical stability which makes them ideal for high power and voltage operations.
Political: Governments across regions are supporting the manufacturing sector through policies and subsidies to boost local wafer fabrication. This is positively impacting the demand for epitaxial wafers.
Economic: Growing economies are witnessing increased investments in manufacturing, power, and telecom sectors which utilize devices based on epitaxial wafers. This is augmenting the market revenues.
Social: Social trend of growing electronic and electric vehicle adoption is driving the need for advanced semiconductor devices and components requiring epitaxial wafer fabrication.
Technological: Advancements in wafer size, defect density control, and layer deposition are allowing fabrication of more efficient power devices. Emerging 5G networks also provide growth opportunities.
The Global Epitaxial Wafer Market Size is expected to witness high growth on account of increasing demand for power electronics and optoelectronics devices across industries. Regionally, Asia Pacific dominates the market and is expected to continue its lead during the forecast period. China, Taiwan, and South Korea are major wafer fabrication hubs and are major contributors to the regional market growth.
The Asia Pacific region holds over 50% share of the global epitaxial wafer market led by China, Taiwan, and South Korea. These countries are leading manufacturing hubs for wafer fabrication and semiconductor devices. Growing investments in manufacturing, 5G rollout, and electric vehicles adoption is propelling the regional demand. Japan is another major market in the region.
Key players operating in the epitaxial wafer market are 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.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it