Revolutionizing Industries: Semiconductor Materials’ Impact on Automotive and Healthcare

According to MRFR analysis, The Semiconductor Materials Market Size was valued at USD 59.02 Billion in 2022. The Semiconductor Materials industry is projected to grow from USD 60.34 Billion in 2023 to USD 87.4 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.6% during the forecast period (2023 – 2030). 

Semiconductor materials are used in the manufacturing of different circuits and electronic components that find applications in various industries. Its shielding property with toughness and flexibility has increased its use in consumer electronics, aerospace, automotive, and healthcare industries. Some of the primary factors favoring the global market growth are increasing adoption of portable electronics devices, and surge in the demand for high-performance medical devices across the globe.

Pricing and Standardization

In 2018, the price of silicon wafer, one of the fastest-growing segments in the global semiconductor materials market, varied from USD 15 to USD 22 for one inch, which is witnessing an upward trend. The trend is likely to continue during the forecast period owing to fluctuating raw material prices.

The safety standards regarding semiconductor materials such as wafers and packing materials are set by various institutes such as the United States Environmental Protection Agency (EPA); SEMI; American National Standards Institute (ANSI); Automotive Electronics Council (AEC) Component Technical Committee; Electronic Industries Alliance (EIA); International Electrotechnical Commission (IEC); Institute of Electrical and Electronics Engineers, Inc (IEEE); Japan Electronics and Information Technology Industries Association (JEITA); National Electronics Manufacturing Initiative (NEMI); Semiconductor Manufacturing Technology (SEMATECH); and others. Some of the standards are SEMI Standards – SEMI PV32; US Environmental Protection Agency (EPA) – 40 CFR Part 469.12 and 40 CFR Part 469.22.

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SEGMENTATION

By Material Type

• Wafer Fab Materials: The wafer fab materials segment held the largest market share of 3% in 2018 and is expected to dominate the global market during the forecast period. The growth is attributed to the increasing demand for wafer materials in device technologies. The use of wafer fab materials is high in the photolithography process. The sale of the material type increased by 16% in 2018 from 2012. Photomask is one of the fastest-growing sub-segments in the semiconductor materials market. The wafer fab materials consist of silicon, photomasks, photoresist, specialty gases, and others. The other sub-segment comprises photoresist ancillaries, chemicals, sputter targets, and CMP slurry and pads.

• Packing Materials: It is one of the fastest-growing segments of the global market during the review period, owing to increasing preference for miniature devices with excellent functionality, reliability, and low cost. The increase in demand for consumer electronics has surged the demand for ICs to enhance the performance, as the semiconductor manufacturers use packing materials in the integrated circuits (ICs). EMI shielding with pastes and coatings, liquid encapsulation, die-attach adhesive with paste and films, solder pastes, conductive adhesives and inks, underfills with film, liquids, and pastes are some of the packing materials that are extensively used in the semiconductor industry. The sub-segments of packing materials include substrates, lead frames, bonding wire, die-attach, and others.

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By End-Use Industry

• Consumer Electronics: The demand for consumer electronics is growing since the late 1920s. With innovation and development in smartphones, tablets, and other gadgets, the consumer electronics industry has come a long way. In terms of revenue, the segment in 2018 reached USD 338.21 billion and is expected to register a CAGR of over 12% by 2025. Additionally, the increasing demand for consumer electronics and portable devices is driving the demand for semiconductor materials in the electronics industry. Thus, consumer electronics is projected to be the largest segment by the end-use industry of the global semiconductor electronics market.

• Healthcare: The growing development for precision medical devices is expected to fuel the demand for semiconductor materials in the healthcare industry.

• Automotive: It is projected to be the fastest-growing segment owing to the shift toward e-vehicles and lightweight and durable materials in the industry.

• Aerospace & Defense: The increasing production of commercial and military aircraft is expected to boost the growth of the segment. The segment accounted for a market share of over 15% in 2018 due to a rapid shift in engineering design and manufacturing process of defense and commercial aircraft across various industries.

• Others: The other segment includes consumer goods, construction, energy, food processing, and automated machinery.

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By Region

• North America: The growth of the regional market is driven by the high demand for the product in the expanding aerospace industry.

• Europe: A well-established regional market.

• Asia-Pacific: The largest and fastest-growing regional market.

• Latin America: A small but growing automotive industry coupled with the application of electronics is fueling the demand for semiconductor materials in Latin America.

• Middle East & Africa: Increasing construction activities and growing automotive industry are factors expected to drive the regional market growth.

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