Press release
Gallium Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Gallium Market
The gallium market is poised for significant growth, driven by the increasing demand for consumer electronics. Gallium, a key component in numerous electronic devices, is integral to the manufacture of gallium arsenide (GaAs) and gallium nitride (GaN) semiconductors, both essential for high-speed, high-performance electronics. For example, LG, a South Korea-based electronics firm, saw sales increase by 12.9% in 2022 compared to the previous year, exceeding $52.70 billion as per their annual 2022 financial report. Additionally, LG Home Appliance & Air Solution Company reported an all-time high revenue of $22.5 billion in 2022, a 10.3% boost from the preceding year. Consequently, this surging demand for consumer electronics propels the growth of the gallium market. Gallium Market Driver: Growth In The Adoption Of 5G Adoption Fuels Gallium Market
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What growth opportunities are expected to drive the gallium market's CAGR through 2034?
In recent times, the size of the gallium market has witnessed exponential growth. It is projected to expand from a worth of $2.32 billion in 2024 to a value of $2.91 billion in 2025, experiencing a compound annual growth rate (CAGR) of 25.4%. The previous growth can be linked to industries such as electronics, medical applications, solar energy, and aerospace and defense.
The anticipated expansion of the gallium market is projected to be substantial in the forthcoming years, expecting to rise to $6.6 billion by 2029, with a compound annual growth rate (CAGR) of 22.7%. The surge expected during this forecast period can be connected to the adoption of renewable energy, electric vehicles, advanced materials, and nanotechnology. Key trends in the forecast period are expected to be the commanding role of gallium nitride (GaN), recycling and sustainability, hybrid solar cells, along with innovations in healthcare.
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What are the most significant trends transforming the gallium market today?
The gallium market's dominant players are concentrating their efforts on the creation of innovative product solutions, such as gallium nitride (GaN) control integrated circuits, as a strategy to fortify their market position. A power integrated circuit (IC) made from gallium nitride (GaN) combines numerous power electronics processes into a single GaN chip, thereby boosting speed, efficiency, reliability, and cost-effectiveness. To illustrate, Navitas Semiconductor Corporation, a power-semiconductor firm based in the United States, introduced GaNSense Control ICs in March 2023. This new line of gallium nitride (GaN) control integrated circuits is tailored to improve performance in quick chargers, household appliances as well as server and data center supplies, providing a greater advantage than standard high-voltage silicon (Si) processors by packing more performance into a smaller package. The company claims that gallium nitride (GaN) is as much as 20 times faster and provides triple the charging capacity, all in a package that is half the size and weight.
Which growth-oriented segments of the gallium market are leading the industry's development?
The gallium market covered in this report is segmented -
1) By Product: Gallium Nitride (GaN) Radio Frequency Devices, Opto-Semiconductors, Power Semiconductors
2) By Component: Transistors, Diodes, Rectifiers, Power Integrated Circuits, Other Components
3) By Wafer Size: 2-Inch, 4-Inch, 6-Inch, 8-Inch
4) By End-User: Automotive, Consumer Electronics, Defense And Aerospace, Healthcare, Industrial And Power, Information And Communication Technology, Other End-Users
Subsegments:
1) By Gallium Nitride (GaN) Radio Frequency Devices: GaN Amplifiers, GaN Transistors, GaN Integrated Circuits
2) By Opto-Semiconductors: Light Emitting Diodes (LEDs), Laser Diodes, Photodetectors
3) By Power Semiconductors: GaN Power Transistors, GaN Power Converters, GaN Modules
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What regions are leading the charge in the gallium market?
North America was the largest region in the gallium market in 2024. The regions covered in gallium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the gallium market?
Major companies operating in the gallium market are ArcelorMittal SA, BHP Group Limited, Rio Tinto Corp., Thermo Fisher Scientific Inc., Vale SA, Aluminium Corp of China Ltd., Glencore PLC, Sharp Corporation, CMOC Group Limited, Sigma-Aldrich Corporation, Materion Corporation, Nalco Chemical Company, DOWA HOLDINGS CO. Ltd., Indium Corporation, Umicore N.V., China Minmetals Rare Earth Co. Ltd., 5N Plus Inc., Nanjing Jinmei Gallium Co. Ltd., Strem Chemicals Inc., GEO Specialty Chemicals, American Elements Corporation, Zhuzhou Keneng New Material Co. Ltd. Inc., SMI Ltd., Fortis Metals Ltd., Nippon Rare Metal Inc.
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What Is Covered In The Gallium Global Market Report?
• Market Size Forecast: Examine the gallium market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the gallium market for a structured understanding.
• Key Players Overview: Analyze major players in the gallium market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the gallium market.
• Segment Contributions: Evaluate how different segments drive overall growth in the gallium market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the gallium market.
• Industry Challenges: Identify potential risks and obstacles affecting the gallium market.
• Competitive Landscape: Review strategic developments in the gallium market, including expansions, agreements, and new product launches.
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