The global compound semiconductor materials market size is expected to be worth over US$ 46.9 million by 2027 and expanding at a CAGR of 3.8% over forecast period 2020 to 2027.
Growing product use in various electronic applications, including electronic film coatings, electronic wafer, and integrated circuits, is expected to drive the market. Growing industrialization has led to an increase in data transactions, thereby boosting the global semiconductor market growth. Compound semiconductor materials are used in scientific applications, such as rocket coatings and jumpsuit coatings, owing to their high radiation resistance. This trend is likely to complement the market growth over the forecast period. China is expected to dominate the global market in the forthcoming years owing to the presence of a huge semiconductor hub in the country. This can be attributed to low manufacturing costs, which reduces the overall operational cost and increases profits. The growth of the electronics manufacturing sector in the country is expected to drive the product demand over the forecast period.
Nanotechnology is widely used in the production of compound semiconductor materials with extremely large surface area to volume ratio, resulting in materials with more surface area depending properties, which are used for fabrication and construction of electronic devices. The technology is widely used for the manufacturing of semiconductor devices for automotive and smartphones.
Product Insights
Group III-V compound semiconductor materials led the market and accounted for more than 53% share of the global revenue in 2030 on account of its wide use in transistors, LEDs, lasers, and solar cells for 5G, IoT, and smart vehicles. Their higher power efficiency and unique optical properties give them an edge over silicon-based semiconductors.
The growth in the optoelectronics industry is anticipated to propel the demand for Group II-VI compound semiconductors over the forecast period. Group II-VI compound semiconductor materials exhibit large band gaps, and hence are popular in optoelectronics for short-wavelength applications.
Group IV-IV is anticipated to register the fastest CAGR of 4.6% over the forecast period on account of the growing demand for SiC semiconductors. SiC offers various additional benefits over silicon such as 10 times the breakdown electric field strength, a wider range of p- and n-type control needed for device construction, higher tolerance for voltages, the capability of operating at higher temperatures, and three times the bandgap.
The growth in the electric vehicles (EVs) market is expected to be a key driver for SiC as more EV manufacturers are using SiC Schottky barrier diodes or MOSFETs in DC-DC converters. Other end-use industries where SiC semiconductors are increasingly being used include military systems, sensor systems, solar power inverters and other power supplies, and wind turbines.
Application Insights
Telecommunication led the market and accounted for more than 42% share of the global revenue in 2020 owing to the high demand for semiconductors for mobiles and wireless communication. GaAs substrates are used in power amplifiers and switches for smartphones. Their use is further increasing in wireless communication on account of their high speed and efficiency over silicon semiconductors.
These materials are widely used in the aerospace and defense industry for a wide range of applications, including power suppliers for space and aircraft, solid-state relays and contractors, and VLF transmitters. Growing defense spending and increasing usage of electronic contents in the fighter planes, tanks, and armored carriers are anticipated to augment the market growth.
The electronics and consumer goods application segment is expected to register the fastest CAGR of 4.8% over the forecast period owing to extensive demand for semiconductors for electronic appliances. Gallium arsenide, aluminum phosphate, and silicon carbide are some of the commonly used products for these applications.
The product demand is extensively increasing in various end-use applications, including electric vehicles and healthcare. In the transportation industry, motor drives include electric vehicles, fork-lift trucks, and locomotives, whereas the non-motor drives include vehicle electronic ignition, vehicle voltage regulation, and traffic signal control.
Regional Insights
Asia Pacific dominated the market and accounted for over 52% share of the global revenue in 2020 on account of surge in demand from the consumer electronics manufacturing industry, coupled with high product penetration. Rapid urbanization and rising disposable income in the region are expected to further contribute to the expansion of consumer electronics, thereby complimenting the market growth.
The market in North America is expected to be driven by growth in demand from the end-use industries in the U.S., Canada, and Mexico. Foreign manufacturers are compelled to increase their target market by coming in close proximity to the region, which is leading towards capacity expansion and acquisitions.
The market in Europe is estimated to reach USD 9.8 million by 2027. The automotive sector in the region is expected to be a key end-use market for the product. Emerging technologies such as the introduction of Artificial Intelligence, electrification of vehicles, and digitalization are the key growth drivers in the region.
Growing infrastructure development in Central and South America due to rising industrial growth is anticipated to boost the growth of the electronics industry, which is projected to fuel the product demand. Increasing investments and favorable government policies are expected to have a positive impact on market growth over the forecast period.
The Compound semiconductor materials market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Compound semiconductor materials market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Compound semiconductor materials market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Compound semiconductor materials market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Compound semiconductor materials market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Compound semiconductor materials capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Compound semiconductor materials by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Compound semiconductor materials market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Compound semiconductor materials market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Compound semiconductor materials market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Compound semiconductor materials industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Compound semiconductor materials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Compound semiconductor materials market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Compound semiconductor materials market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Compound semiconductor materials market. These factors have benefited the growth of the global market for Compound semiconductor materials. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Compound semiconductor materials. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Some of the prominent players in the compound semiconductor materials market include:
SK siltron Co., Ltd.
Sumitomo Electric Industries, Ltd.
JX Nippon Mining & Metals
FURUKAWA CO., LTD.
Shin-Etsu Chemical Co., Ltd.
SHOWA DENKO K.K.
Xiamen Powerway Advanced Material Co.
Freiberger Compound Materials GmbH
WIN Semiconductors Corp
IQE PLC
Segmentation
By Product Outlook
Group IV-IV
Group III-V
Group II-VI
By Application Outlook
Electronics & Consumer Goods
Aerospace & Defense
Telecommunication
Others
By Regional Outlook
North America
The U.S.
Canada
Europe
Germany
The U.K.
Asia Pacific
China
India
Japan
South Korea
Taiwan
Central & South America
Brazil
Middle East & Africa
In this study, the years considered to estimate the market size of Compound semiconductor materials are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers