Silicon Wafer Market Will Showcase Significant Growth in Future | Shin-Etsu, SUMCO, Siltronic AG, Shanghai Simgui Technology Co., Ltd., Wafer Works Co., GlobalWafers Co., Ltd., Tokuyama Corporation

The Silicon Wafer Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.

The growing importance of renewable energy sources has led to a rise in the demand for solar energy. There is high growth in the number of solar panel installations owing to the rising awareness about the advantages of using solar energy. Solar panels and cells are created using silicon wafers due to their semiconducting properties. The solar band efficiency of 1.1 eV of silicon makes it a practical option to be used for these panels. The abundance of silicon, stable cell efficiencies, and non-toxicity make it a suitable material choice for photovoltaics, boosting the silicon wafer market growth. The high-performance efficiency offered by silicon solar panels is further contributing to the silicon wafer industry growth.

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The demand for wafer sizes larger than or equal to 300 mm will support the silicon wafer market growth. A large wafer diameter enables the production of more semiconductor devices from a single wafer thereby enhancing the efficiency and productivity. The growing demand for chips and enhanced chip throughput enabled by large wafer sizes has led to the evolution of these wafers from half-inch silicon to 300 mm diameter wafers. However, 450 mm wafers are poised to offer several advantages; the 450 mm technology leading to more costly processing tools and less than expected ROI is discouraging the technology adoption.

The growing adoption of automation in the automotive sector will contribute to the silicon wafer market growth. The demand for vehicle electrification and increased connectivity will encourage the R&D in the industry. The introduction of technologies, such as Advanced Driver-Assistance Systems (ADAS), will further aid in the industry growth. There is a growing significance of connected cars with the ongoing trends revolutionizing the automotive sector.

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Technological advancements to enhance the capabilities of wafers will drive the silicon wafer market growth. Automation and AI are used across all the industry verticals to improve the operational efficiency. Products with AI is the latest trend with companies turning to silicon wafers for creating AI-infused technologies. Silicon chips are created with elements that function like neurons to handle deep learning tasks.

Asia Pacific silicon wafer market is poised to witness growth owing to the booming automotive sector in the region. Several government initiatives in India encouraging foreign investments in the automotive sector have led to the growth of the industry. In addition, the flourishing electronics industry in China will also favor the silicon wafer industry growth. The advent of Industry 4.0 and technologies, such as IoT and AI in the automotive sector, will fuel the demand for these wafers for high performance and smooth operation of the vehicle.

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Key players in the silicon wafer market include Shin-Etsu Chemical Co., Ltd., SUMCO Corporation, Siltronic AG, Shanghai Simgui Technology, Wafer Works Corporation, GlobalWafers Singapore Pte. Ltd., and Tokuyama Corporation.

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