Silicon Wafer Market Growth, Size, Latest Trends And Forecast To 2033

The new report published by The Business Research Company, titled ""Silicon Wafer Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the silicon wafer market size has grown strongly in recent years. It will grow from $17.03 billion in 2023 to $18.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The silicon wafer market size is expected to see strong growth in the next few years. It will grow to $24.20 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.

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Solar Panel Installation Surge Fuels Silicon Wafer Market Growth
A significant rise in the installation of solar panels is expected to propel the growth of the silicon wafer market going forward. Solar panels, also known as photovoltaic (PV) panels, refer to devices composed of multiple solar cells that convert sunlight directly into electricity. Solar panels produce renewable and sustainable energy sources, making them an attractive alternative to fossil fuels, which are finite and contribute to environmental pollution and climate change. Solar panels harness energy from sunlight using silicon wafers, efficiently converting solar radiation into electricity while contributing to sustainable energy practices and reducing dependence on fossil fuels. For instance, in April 2023, according to a report published by the National Renewable Energy Laboratory (NREL), a US-based research institution dedicated to advancing renewable energy and energy efficiency technologies, global photovoltaic (PV) installations reached 231 gigawatts of direct current (GWdc), totaling 1.2 terawatts of direct current (TWdc) cumulatively in 2022. China's annual PV installations surged by 57%, accounting for 42% of global demand, primarily driven by distributed PV, while annual installations are forecast to exceed 300 GW by 2023 and surpass 400 GW by 2025. Therefore, a significant rise in the installation of solar panels is driving the silicon wafer market.

Advancements In Silicon Wafer Technologies Drive Efficiency And Downsizing In Power Modules
Major companies operating in the silicon wafer market focus on developing more high-performance wafer technologies, such as silicon carbide single-crystal wafers, to meet the increasing demand for advanced semiconductor applications. Silicon carbide single-crystal wafers help improve the efficiency and compactness of power modules, contributing to advancements in energy efficiency and the downsizing of electronic devices. For instance, in March 2022, The Showa Denko Group, a Japan-based company that produces chemical products and industrial materials, launched mass production of 6-inch silicon carbide single crystal wafers (SiC wafers). These wafers are crucial for SiC epitaxial wafers and essential for SiC-based power semiconductors. SiC power semiconductors are renowned for their superior heat resistance and voltage endurance compared to their conventional silicon-based counterparts. They meet the escalating demand in diverse sectors such as EVs, railcars, and industrial machinery.

The silicon wafer market covered in this report is segmented -

1) By Type: N-Type, P-Type
2) By Wafer Size: 0-100 mm, 100-200 mm, 200- 300 mm, More Than 300 mm
3) By End User: Consumer Electronics, Automotive, Industrial, Telecommunications, Other End Users

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Major companies operating in the silicon wafer market are International Business Machines Corporation (IBM), The Dow Chemical Company , Sumitomo Electric Industries Ltd., Applied Materials Inc., Komatsu Electronic Metals Co. Ltd., Shin-Etsu Chemical Co. Ltd., Texas Instruments Incorporated, Mitsubishi Materials Corporation, United Microelectronics Corporation (UMC), SUMCO Corporation, GlobalWafers Co. Ltd., Siltronic AG, SunEdison Inc., SOITEC SA, SunEdison Semiconductor Limited, Wafer Works Corporation, EV Group (EVG), Shinryo Corporation, Okmetic Oy, Topsil Semiconductor Materials A/S, MTI Corporation, NexWafe GmbH, MEMC Electronic Materials Inc., SK Siltron Co. Ltd., Silicon Materials Inc., Ultrasil Corporation

Contents of the report:
1. Executive Summary
2. Silicon Wafer Market Report Structure
3. Silicon Wafer Market Trends And Strategies
4. Silicon Wafer Market - Macro Economic Scenario
5. Silicon Wafer Market Size And Growth
…..
27. Silicon Wafer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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