GaAs Wafer Market Forecasted to Grow at 12% by 2027 | Market In-Depth Analysis, Opportunities, Challenges and COVID-19 Impact
Research Reports
Apr 18, 2022
Market Overview
Globally, the GaAs Wafer Market is expected to grow from USD 625 million in 2017 to USD 1224.3 million by 2023, at a CAGR of 12% during the forecast period.
The GaAs wafer market is being driven by the growing adoption of 4G and 5G networks. The high production costs, on the other hand, are limiting the market growth. During the forecast period, the worldwide GaAs wafer market is expected to increase significantly. Gallium arsenide (GaAs) is a compound semiconductor made up of gallium and arsenic that is made by melting metals like aluminium and zinc, as well as arsenic. While gallium is thought to be more uncommon than gold, arsenic, despite being both rare and valuable, is said to be dangerous. GaAs was previously only used in high-frequency applications that required high efficiency and low noise, such as military and mobile phones. Mobile internet sales, as well as the development of new communication technologies like 4G and 5G, are expected to drive the GaAs wafer industry forward shortly.
The worldwide food and beverage business is one of the key industries experiencing substantial disruptions as a result of the COVID 19 infections, including supply chain breakdowns, cancellations of technology events, and workplace closures, among other things. China is the world’s manufacturing hub, with the world’s leading raw material suppliers and manufacturers all based there. COVID-19 is causing a widespread market breakdown, which is affecting the development of the bacon market.
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Key players:
Prominent players in global GaAs wafer market are Advanced Wireless Semiconductor Company (Taiwan), Global Communication Semiconductors, LLC (US), Ommic S.A. (France), WIN Semiconductors Corporation (Taiwan), AXT Inc. (US), Century Epitech Co Ltd. (China), Powerway Advanced Material Co., Ltd. (China), Intelligent Epitaxy Technology, Inc. (US), Sumitomo Electric Semiconductor Materials Inc. (US), Freiberger Compound Materials GmbH (Germany), IQE plc (UK), Qorvo, Inc. (US), United Monolithic Semiconductors (France), and Visual Photonics Epitaxy Co, Ltd. (Taiwan) among others.
Market Segmentation
Based on the production method, the GaAs Wafer Market is segmented into vertical gradient freeze (VGF), Liquid encapsulated Czochralski (LEC), Molecular Beam Epitaxy (MBE), Metal-Organic Vapor Phase Epitaxy (MOVPE).
Based on the application, the GaAs Wafer Market is segmented into mobile devices, photovoltaic devices, wireless communication, optoelectronic devices, aerospace & defense, and others
Based on the region, the GaAs Wafer Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
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Regional Classification
Due to the region’s enormous population and increasing smartphone penetration, Asia-Pacific is the world’s largest market for GaAs wafers. The increasing demand for advanced technology gadgets such as smart devices, cellphones, computers, and laptops is one of the primary driving factors in this region. The demand for GaAs wafers in the region is increasing at a promising rate as a result of the increased adoption of advanced innovative devices such as smart gadgets, cell phones, computer systems, and laptop computers. China has a global monopoly on the electronics industry. The government is providing significant aid in this field, which is assisting in the sector’s expansion. The Chinese government, for example, is bolstering the country’s domestic technology sector by offering financial aid to industry participants. The need for safe, dependable, and environmentally friendly energy sources is likely to drive up demand for solar cells in various countries. This, in turn, would help the GaAs wafer market share expand.
Industry News
The global gallium arsenide industry is highly consolidated, with a few companies dominating a significant percentage of the market. Companies that have already made a name for themselves are bolstering their positions by investing heavily in research and development and providing better and more technologically sophisticated goods and services to their customers. The major key players in the market are Semiconductor Wafer Inc., AXT Inc., Sumitomo Electric Industries Ltd., Freiberger Compound Materials GmbH, and Xiamen Powerway Advanced Material Co. Ltd.
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