Strong Growth Ahead: Gallium Market Size To Grow At Arecord 22.7% Cagr By 2029

The Gallium Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Gallium Market Size Expected to Be by 2034?
The size of the gallium market has experienced outstanding growth recently. Its expansion is projected to continue, moving from $2.32 billion in 2024 to $2.91 billion in 2025, boasting a compound annual growth rate (CAGR) of 25.4%. The significant surge during the historic period is primarily a credit to facets such as the electronics industry, medical applications, the use of solar energy, and the aerospace and defense sectors.

The market size of gallium is projected to witness a tremendous surge in the coming years. The predicted growth is slated to reach $6.6 billion in 2029 with a compound annual growth rate (CAGR) of 22.7%. This surge during the forecast period is likely due to factors like renewable energy, electric vehicles, advanced materials, and nanotechnology. Dominance of gallium nitride (gan), recycling and sustainability, hybrid solar cells, and healTH*Care innovations are among the significant trends anticipated during the forecast period.

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What Are the Emerging Segments Within the Gallium Market?
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, HealTH*Care, 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 Long-Term Drivers Are Shaping Gallium Market Trends?
The gallium market is projected to expand as a result of the escalating demand for consumer electronics. Gallium, an integral component in several electronic products, is used to manufacture gallium arsenide (GaAs) and gallium nitride (GaN) semiconductors. Essential for high-speed, high-performance electronic applications, these materials significantly contribute to the increasing gallium demand. The yearly financial statement 2022 from consumer electronics company LG, based in South Korea, reported a sales growth of 12.9% for 2022, a year in which sales exceeded around $52.70 billion, contrasting with figures from the previous year. LG Home Appliance & Air Solution Company also reported yet another year of record-breaking revenue, reaching $22.5 billion in 2022, a rise of 10.3% from the past year. Thus, the growing consumer electronics demand is catalyzing the expansion of the gallium market. The gallium market will further be bolstered by the growing acceptance of 5G technology. 5G infrastructure includes the hardware and technologies necessary for running the fifth-generation mobile networks, offering faster data speeds, low latency, and simultaneous connectivity for numerous devices. Anticipating the needs of 5G deployment, highly efficient amplifiers that employ gallium-based materials are being developed predominantly for manufacturing radio frequency (RF) power amplifiers. These amplifiers amplify signal strength and transmission over extensive distances, a key attribute for 5G. Based on data from a US-based industry trade organization, 5G Americas, North America reported in September 2023 an impressive 5G penetration rate of 40%, an increase of 25.5% during the first half of 2023. Additionally, it is forecasted that North America's 5G connections will touch a staggering 669 million by 2028. Consequently, the burgeoning adoption of 5G infrastructure is fuelling the growth of the gallium market.

Who Are the Top Competitors in Key Gallium Market Segments?
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.

What Gallium Market Trends Are Gaining Traction Across Different Segments?
In an effort to bolster their market standing, leading organizations in the gallium market are concentrating their efforts on creating superior products, with a particular focus on gallium nitride (GaN) control integrated circuits. These GaN power integrated circuits amalgamate various power electronics functions into a single functionality GaN chip, thereby greatly improving speed, efficiency, reliability, and economical viability. For example, Navitas Semiconductor Corporation, a power-semiconductor business based in the US, unveiled GaNSense Control ICs in March 2023. This new product line boasts augmented performance gallium nitride (GaN) control integrated circuits, suited for a range of applications including rapid chargers, household appliances, and supply to servers and data centres. This innovative design surpasses traditional high-voltage silicon (Si) processors, offering superior performance in a more compact package. The company claims that their GaN products provide a charging capacity three times greater and 20 times faster, all in a device that is half the typical size and weight.

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Which Regions Are Becoming Hubs for Gallium Market Innovation?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Gallium Market?
2. What is the CAGR expected in the Gallium Market?
3. What Are the Key Innovations Transforming the Gallium Industry?
4. Which Region Is Leading the Gallium Market?

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