Epitaxial wafers are very pure, precisely controlled semiconductor crystalline substrates formed by a controlled deposition of one crystalline layer over another which helps in fabrication of modern semiconductor devices. They find wide applications in manufacturing transistors, LEDs, lasers and other optoelectronic devices. Advancements in smartphone, 5G networks, EV technologies and IoT are propelling the demand for high performance and energy efficient devices which is further augmenting the demand for epitaxial wafers in semiconductor manufacturing process.
The global Epitaxial Wafer Market is estimated to be valued at US$ 938.32 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the epitaxial wafer market is the increasing adoption of 300mm wafers. Advanced semiconductor manufacturing processes have shifted from 200mm to 300mm wafers owing to their significant advantages such as higher device density, lower manufacturing cost and higher yields. Leading foundries such as TSMC and GlobalFoundries have upgraded their fabs to 300mm wafer fabrication which is boosting the demand for 300mm epitaxial wafers.
Threat of new entrants: The epitaxial wafer market requires high capital investments for production facilities and equipment which poses barriers for new players to enter the market.
Bargaining power of buyers: The presence of a large number of existing players renders low bargaining power to buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitute materials that can be used for wafer production.
Threat of new substitutes: Alternatives like bulk silicon, microelectronic wafers pose minor threat as epitaxial wafers provide better functionality.
Competitive rivalry: The market comprises few leading vendors intensifying the competition.
The global epitaxial wafer market growth is expected to witness high. The global Epitaxial Wafer Market is estimated to be valued at US$ 938.32 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
Regional analysis: The Asia Pacific region is projected to grow at the fastest pace during the forecast period due to rapid industrialization and the growing demand for semiconductors from industries like consumer electronics, automotive, etc. China and South Korea are the biggest consumers of epitaxial wafers.
Key players: Key players operating in the epitaxial wafer market include EpiWorks Inc., Global Wafers Japan Co. Ltd., Nichia Corporation, SHOWA DENKO K.K., Siltronic AG, Desert Silicon Inc., Electronics and Materials Corporation Ltd. Intelligent Epitaxy Technology Inc.IQE plc., Jenoptic AG, MOSPEC Semiconductor Corporation, Norstel AB, Ommic S.A., Silicon Valley Microelectronics Inc., SVT Associates Inc. Universal Wafer Inc., Wafer Works Corporation, Xiamen Powerway Advanced Materials Co. Ltd., and Visual Photonics Epitaxy Co. Ltd.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it