Thin Wafer Global Market will Exceed $17.33 Billion By 2028 with a Projected CAGR of 10.0%. | 3M Company, Brewer Science Inc., DISCO Corporation, EV Group, SUSS MicroTec

The thin wafer market size has grown rapidly in recent years. It will grow from $10.73 billion in 2023 to $11.85 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to increased demand for miniaturized devices, rising adoption in semiconductor industry, cost reduction, growing consumer electronics market, growing demand for photovoltaic cells.

The thin wafer market size is expected to see strong growth in the next few years. It will grow to $17.33 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to increasing use in automotive electronics, growing focus on renewable energy, focus on energy efficiency, demand for compact and lightweight devices. Major trends in the forecast period include rise in iot and connected devices, advancements in semiconductor packaging, expansion of 5g technology, wafer-level chip scale packaging (wlcsp), technological innovations in wafer thinning.

Market Overview -
Thin wafers are the building blocks used in producing semiconductor devices through mechanical grinding and stress reduction.

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Smartphone And Consumer Electronics Boom Propels Thin Wafer Market Growth
The growing smartphone and consumer electronics market is expected to propel the thin wafer market. Consumer electronics refers to an electronic device designed to be purchased and used by an end-user for daily, non-commercial or professional purposes. They are powered by electricity or have circuit boards. Thin wafers are used to fabricate integrated circuits and for high-density packaging in compact or microelectronic devices that power consumer electronics. So, an increase in the smartphone and consumer electronics market will propel market growth. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. By 2025, there will be 68.3 million people living in the UK, of whom 95% (or about 65 million people) will have smartphones. Furthermore, in December 2022, according to a report shared by Shopify, a Canada-based multinational e-commerce company, the amount spent on consumer electronics had increased by 20% since 2020. The largest market for consumer electronics, smartphones, generated $481 billion in revenue in 2021. By 2026, it's anticipated that this will surpass $500 billion. Therefore, the growing smartphone and consumer electronics market is driving the growth of the thin wafer market.

Competitive Landscape -
Major companies operating in the thin wafer market report are 3M Company, Applied Materials Inc., Brewer Science Inc., DISCO Corporation, EV Group, GlobalWafers Co. Ltd., Shin-Estu Chemical Co. Ltd., Sil'tronix Silicon Technologies, SK Siltron Co. Ltd., SUMCO Corporation, SUSS MicroTec, Synova S A, Virginia Semiconductor Inc., ULVAC GmbH, Wafer Works Corporation, Atecom Technology Co. Ltd., UniversityWafer Inc., Mechatronic Systemtechnik GmbH, Soitec, My-Chip Production GmbH, Polishing Corporation of America, Kulicke & Soffa Industries Inc., SunEdison Semiconductor, LG Siltronic, Han's Laser Technology Industry Group Co. Ltd., ASM Pacific Technology Ltd., Aixtron SE, SPTS Technologies Limited, Nuvonyx Inc., Semiconductor Equipment Corporation

Embracing Technological Advancements For Enhanced Performance
Technological advancement is a key trend in the thin wafer market. Major companies operating in the thin wafer market are focused on developing new cleaning technology to strengthen their position in the market. For instance, in May 2022, Soitec, a France-based semiconductor company, launched a 200-mm SmartSiC-engineered substrate specifically tailored for automotive applications. The introduction of the 200mm SmartSiC wafer showcases improved power electronics device performance and heightened energy efficiency for electric vehicles, underscoring Soitec's commitment to innovation and meeting industry demands.

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Key Segments -
The thin wafer market covered in this report is segmented -
1) By Wafer Size: 125 Mm, 200 Mm, 300 Mm
2) By Process: Temporary Bonding And Debonding, Carrier-Less Or Taiko Process
3) By Technology: Wafer Grinding, Wafer Polishing, Wafer Dicing
4) By Application: MEMS, CIS, RF Devices, LED, Interposer, Logic, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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