New York, United States , July 24, 2024 (GLOBE NEWSWIRE) -- The Global Advanced Materials for Semiconductor Market Size is Expected to Grow from USD 50.4 Billion in 2023 to USD 157.87 Billion by 2033, at a CAGR of 12.10% during the forecast period 2023-2033.
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Advanced semiconductor materials are used in a wide range of electric and optical devices, including diodes, transistors, and integrated circuits. Cell phones, industrial equipment, self-driving cars, sophisticated medical devices, and other electronic products are all made with semiconductor materials. To improve certain properties like conductivity, optical transparency, thermal stability, and mechanical strength, semiconductor materials are created or manufactured at the atomic or molecular level. They are crucial parts of making sophisticated electronic systems and devices, which makes advancements possible in industries including consumer electronics, healthcare, renewable energy, and telecommunications. Technological developments in conjunction with growing demand from a variety of industries, including consumer electronics, automotive, healthcare, aerospace, and industrial automation, as well as IT and telecommunications, are the main drivers of the advanced materials market for semiconductors. The increasing use of IoT and AI technologies, which call for high-performance semiconductors, as well as the introduction of new applications like flexible electronics and driverless cars are major drivers of growth. However, the semiconductor industry's advanced materials face several obstacles that could limit their ability to dominate the market. These obstacles include high manufacturing costs linked to intricate production procedures, technological complexity that impedes innovation cycles, and potential shortages due to weaknesses in the global supply chain.
Browse key industry insights spread across 195 pages with 120 Market data tables and figures & charts from the report on the "Global Advanced Materials for Semiconductor Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Compound Semiconductors, Two-Dimensional Materials, Nanomaterials, Organic Semiconductors, Others), By Application (Power Electronics, High-frequency Devices, Photovoltaics, Memory and Storage, Optoelectronics, and Others), By End-User Industry (IT and Telecommunications, Consumer Electronics, Aerospace and Defense, Healthcare, Industrial, Building and Automation), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The compound semiconductors segment is predicted to hold the largest market share through the forecast period.
Based on the material type, the advanced materials for the semiconductor market are classified into compound semiconductors, two-dimensional materials, nanomaterials, organic semiconductors, and others. Among these, the compound semiconductors segment is predicted to hold the largest market share through the forecast period. These materials, comprised of elements such as gallium arsenide (GaAs) and gallium nitride (GaN), have better electrical, optical, and thermal properties than typical silicon semiconductors. Compound semiconductors are widely utilized in telecommunications, aerospace, defense, and high-performance electronics. They thrive in high-frequency operations and severe circumstances, leading to their extensive application.
The memory and storage segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the advanced materials for the semiconductor market are divided into power electronics, high-frequency devices, photovoltaics, memory and storage, optoelectronics, and others. Among these, the memory and storage segment is anticipated to hold the highest market share during the projected timeframe. This segment includes semiconductor materials required for a variety of memory and storage devices, such as DRAM, NAND flash memory, and developing non-volatile memory technologies. The dominance of memory and storage is driven by rising demand from consumer gadgets such as smartphones and laptops, as well as data centers that enable cloud computing services.
The IT and telecommunications segment is anticipated to hold the greatest share of the advanced materials for the semiconductor market during the projected timeframe.
Based on the end-user industry, the advanced materials for the semiconductor market are categorized into IT and telecommunications, consumer electronics, aerospace and defense, healthcare, industrial, building, and automation. Among these, the IT and telecommunications segment is anticipated to hold the greatest share of the advanced materials for the semiconductor market during the projected timeframe. This segment's leadership is fuelled by strong demand from data centers supporting cloud computing and big data analytics, as well as the rapid construction of 5G telecommunications networks that necessitate high-performing semiconductor materials. Furthermore, the growth of IoT applications and enterprise IT solutions drives demand, emphasizing the importance of advanced semiconductor technologies in enabling digital connection and innovation across industries.
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Asia Pacific is estimated to hold the largest share of the advanced materials for the semiconductor market over the forecast period.
Asia Pacific is estimated to hold the largest share of the advanced materials for the semiconductor market over the forecast period. The Asia Pacific region benefits from its status as a global hub for semiconductor manufacturing, with significant firms and large foundries in China, Japan, South Korea, and Taiwan. These countries have developed significant semiconductor ecosystems that include R&D centers, manufacturing capabilities, and a skilled workforce. Furthermore, Asia Pacific's supremacy is propelled by increased investments in technology infrastructure, fast industrialization, and the expanding usage of advanced electronics in different industries such as consumer electronics, automotive, telecommunications, and industrial automation.
North America is predicted to have the highest CAGR growth in the advanced materials for semiconductor market over the forecast period. Several significant reasons contribute to the rapid expansion of advanced materials in North America's semiconductor business. To begin, North America has a high concentration of premier semiconductor businesses, research institutions, and technological pioneers. These institutions generate continual developments in semiconductor materials, creating a competitive environment conducive to innovation and market expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the advanced materials for semiconductor market include WOLFSPEED, INC., Coherent Corp., Sumitomo Electric Industries Ltd., LG Chem Ltd., BASF SE, KYOCERA Corporation, Nichia Corporation, Samsung Electronics Co., Ltd., Soitec, Applied Materials, AXT, Inc., ENTEGRIS, IQE PLC, Resonac Holdings Corporation, and Others.
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Recent Developments
- In February 2024, G-7 leaders will unveil plans for a semiconductor supply chain coordinating committee. Focus on subsea cable connectivity for Internet security and resilience, despite global chip shortage concerns.
- In January 2024, Wolfspeed, Inc. a global pioneer in silicon carbide technology, announced the extension of a long-term silicon carbide wafer supply arrangement with a major global semiconductor business. Wolfspeed will supply the company with 150mm silicon carbide bare and epitaxial wafers under the expanded agreement, which is now worth approximately $275 million in total.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the advanced materials for the semiconductor market based on the below-mentioned segments:
Global Advanced Materials for Semiconductor Market, By Material Type
- Compound Semiconductors
- Two-Dimensional Materials
- Nanomaterials
- Organic Semiconductors
- Others
Global Advanced Materials for Semiconductor Market, By Application
- Power Electronics
- High-frequency Devices
- Photovoltaics
- Memory and Storage
- Optoelectronics
- Others
Global Advanced Materials for Semiconductor Market, By End-User Industry
- IT and Telecommunications
- Consumer Electronics
- Aerospace and Defense
- Healthcare
- Industrial
- Building and Automation
Global Advanced Materials for Semiconductor Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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