NS Increasing demand from various end-use industries and progress in industrialization are driving the compound semiconductor material market.
Market Size – US $ 36.96 billion in 2019, Market Growth Rate – CAGR of 7.6%, Market Trends – High Demand from Developing Countries.
According to a new report from the Global Compound Semiconductor Materials Market Reports and Data, is projected to reach US $ 66.66 billion by 2027. There is growing interest in the market from the telecommunications industry, where materials are used in traditional microelectronics such as digital and analog integrated circuits. In addition, it has excellent high temperature and radiation resistance, and is used for engine parts, rocket coating, jumpsuit surface coating, etc., and is suitable for a wide range of applications in the automobile and aerospace industries. However, fluctuations in material prices create the need to research and implement alternative materials as an alternative to rising total running costs, hampering market demand.
Within the periodic table, compound semiconductor materials are composed of three or more separate groups of elements, especially in the two-component, three-component, or four-component form. Compound semiconductor materials offer a wider bandwidth choice than basic semiconductors such as Si and Ge, and also offer higher electron mobility, wider bandgap, and lower thermal noise than elemental semiconductors. It can also generate microwave signals. In addition, the crystal structure is fragile compared to silicon, and the manufacturing costs associated with compound semiconductor devices are high, which is expected to hinder the development of market demand.
Optoelectronic devices and wireless technology are the main market drivers. Optoelectronic devices are showing high demand for semiconductor compounds. Increasing demand for smartphones and wearable devices has been a major driver of compound semiconductor development over the past few years. Compound semiconductor materials have properties that are useful for electronic devices and equipment, such as high electron mobility, low power consumption, and significant temperature limits. Compound semiconductor materials are also used in light absorption applications such as lasers and light emitting diodes (LEDs). In addition, they are highly resistant to combined radiation and heat, making them used in a variety of space applications that are integrated with satellite-borne solar cells. Compound semiconductor materials are magnetically sensitive and are therefore used in sensing applications. Compound semiconductor materials are also used in optical data storage devices.
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Major participants include OSRAM, Qorvo, Samsung Electronics, Air Products & Chemicals Inc., Nichia Corporation, Sumitomo Chemical Company Ltd., Cree Inc., Skyworks Solutions, GaN Systems, Mitsubishi Electric and others.
More important findings from the report suggest
- Based on the type, gallium arsenide (GaAs) will generate US $ 7.71 billion in revenue in 2019, and due to its excellent basic properties, it is expected to grow at a CAGR of 7.7% over the forecast period and is being utilized by it. In the development of infrared light emitting diodes, microwave frequency integrated circuits, solar cells, laser diodes, optical windows, and many other applications.
- Power semiconductors include power electronics switches and rectifiers, headphone amplifiers that operate on high-voltage DC transmission lines, and many others.
- The Information and Communication Technology (ICT) sector is a major contributor to the market. The Asia Pacific construction sector is a major shareholder in the market and will account for approximately 29.0% of the market in 2019 due to the wide variety of integrated analog and digital circuit applications.
- The Asia Pacific region dominated the market in 2019. The market driver is the region’s focus on cost-effective and sophisticated procedures implemented in the industry. Asia Pacific dominates about 59.0% of the market, followed by North America, which includes about 20.0% of the market in 2019
increase. Click the links below to identify key trends in the industry. https://www.reportsanddata.com/report-detail/compound-semiconductor-materials-market
For the purposes of this report, the reports and data are of type, product, application, and region:
Type Outlook (Volume, Kiloton; 2017-2027) (Revenue, US $ 1 Billion; 2017-2027)
- Gallium nitride (GaN)
- Gallium arsenide (GaAs)
- Gallium phosphide (GaP)
- Indium phosphide (InP)
- Silicon Carbide (SiC)
- Silicon Germanium (SiGe)
Product Outlook (Volume, Kiloton; 2017-2027) (Revenue, US $ 1 Billion; 2017-2027)
- Power semiconductor
- Integrated circuit
- Diodes and rectifiers
Application Outlook (Volume, Kiloton; 2017-2027) (Revenue, US $ 1 Billion, 2017-2027)
- Information and Communication Technology (ICT)
- medical care
- Consumer electronics
Regional outlook (volume, kilotons; 2017-2027) (revenue, US $ 1 billion, 2017-2027)
- North America
- Asia Pacific
- Latin America
Frequently Asked Questions in the Report:
- What is the projected size and revenue CAGR of the global compound semiconductor materials market?
- • What are the main drivers of growth in the global compound semiconductor materials market?
- • What are the latest trends affecting market growth?
- • What are the imminent risks and challenges that are expected to impede industry growth?
- • Which of the top companies do business in the global compound semiconductor materials market?
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