REPORT ATTRIBUTE | DETAILS |
---|---|
MARKET SIZE (2032) | USD 3.1 Billion |
MARKET SIZE (2023) | USD 1.17 Billion |
CAGR (2023-2029) | 12% |
HISTORIC YEAR | 2019 |
BASE YEAR | 2023 |
FORECAST YEAR | 2032 |
BY TYPE | LEC Grown GaAs VGF Grown GaAs |
BY APPLICATION | Wireless Communication Optoelectronic Devices Other |
GEOGRAPHIC ANALYSIS | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
KEY PLAYERS | Freiberger Compound Materials, AXT, Sumitomo Electric, China Crystal Technologies, Shenzhou Crystal Technology, Tianjin Jingming Electronic Materials, Yunnan Germanium, DOWA Electronics Materials, II-VI Inc, IQE Corporation, Wafer Technology Semiconductor Wafer Inc, Sumitomo Electric Industries Ltd., Xiamen Powerway Advanced Material Co. Ltd., H3C SecPath Series, Vital Materials. |
Market overview:
Gallium Arsenide GaAs Wafer market is valued at USD 1.17 billion in 2023 and is expected to reach USD 3.1 billion by 2032, growing at a CAGR of 12% during the forecast period. GaA is mainly used in electronics such as semiconductor manufacturing. The growing use of GaAs wafers in products such as LEDs, laser diodes, optoelectronic devices and monolithic microwave circuits is considered to be a major factor driving the growth of the studied market. The price of this regulated compound creates more growth opportunities for gallium arsenide (GaAs) wafer manufacturers.
Gallium arsenide, or GaAs, is a compound consisting of two elements. The semiconductor used to make GaAs wafers is a direct bandgap semiconductor, which means that electrons can pass through the components much faster without much interference, making them particularly useful in optoelectronic devices.
The proliferation of smartphones and computing devices and the proliferation of light emitting diodes (LED) in general lighting are major growth factors in this market. The emergence of IoT was also one of the main reasons that led to the growing market trend.
In 2023, Gallium Arsenide (GaAs) Wafer Market was valued at USD 1.17 billion, and it is projected to grow to USD 3.1 billion by 2032 with CAGR of 12%
Key players:
Market segmentation:
By Type:
LEC Grown GaAs
VGF Grown GaAs
By Application:
Wireless Communication
Optoelectronic Devices
Other
Segmentation by Type:
LEC Grown GaAs (Liquid Encapsulated Czochralski): This category encompasses GaAs wafers produced using the LEC growth method. The LEC technique involves melting gallium under a controlled atmosphere and slowly pulling a seed crystal upwards, allowing GaAs to crystallize onto it layer by layer.
VGF Grown GaAs (Vertical Gradient Freeze): This category encompasses GaAs wafers produced using the VGF growth method. The VGF technique involves precisely controlling the temperature gradient within a furnace containing gallium and arsenic. This allows controlled solidification of GaAs, resulting in wafers with specific electrical properties.
Segmentation by Application:
Wireless Communication: This segment represents the largest application area for GaAs wafers, driven by the superior performance characteristics of GaAs compared to silicon in high-frequency applications. GaAs is employed in various components within wireless communication systems, including:
Microwave integrated circuits (MMICs) for cellular base stations and radar systems.
GaAs power amplifiers for mobile phones and other wireless devices.
Optoelectronic Devices: GaAs also plays a crucial role in the fabrication of various optoelectronic devices, including:
Light-emitting diodes (LEDs) for applications such as solid-state lighting and displays.
Laser diodes used in optical communications, sensing, and industrial applications.
Other Applications: GaAs wafers find application in a diverse range of other sectors beyond wireless communication and optoelectronics. Examples include:
Microwave components for satellite communications and defense applications.
Solar cells for high-efficiency solar power conversion.
Integrated circuits for medical imaging equipment.
Gallium Arsenide (GaAs) Wafer Market Drivers:
Technological Innovation: The heartbeat of the Gallium Arsenide (GaAs) Wafer Market is continuous technological advancements that improve the efficiency of products and services. Innovations include materials, manufacturing and digital technologies.
Growing Demand: Factors such as population growth, urbanization, and changes in consumer preferences are fueling the increasing demand for gallium arsenide (GaAs) wafer products and services, which is fueling market expansion.
Regulatory Encouragement: Government support measures, including incentives for the adoption of gallium arsenide (GaAs) wafers, and regulations such as renewable energy subsidies and carbon pricing are catalyzing market growth.
Environmental Awareness: Growing awareness of environmental issues and reducing carbon footprint is accelerating the adoption of environmentally friendly and renewable gallium arsenide (GaAs) wafer solutions.
Cost Effectiveness: Declining costs associated with manufacturing and operating gallium arsenide (GaAs) wafer solutions due to technological advances, competitive markets and economies of scale make these opportunities more accessible.
Market trends:
Radio-frequency (RF) devices produced with GaAs substrates are widely used in wireless communication applications, including wireless networks (WLAN), 4G/5G base stations, mobile communication, satellite, and Wi-Fi communications. The development of such trends marks an important milestone in developing next-generation, ultra-compact, and high-performance RF front-end chipsets that are needed for smartphones and other handsets, supporting 4G and 5G services.
GaAs wafers' higher efficiency and lower power consumption are also enticing market participants to adopt them, positively influencing the demand for GaAs wafers. Optoelectronic devices were previously widely used in computer peripherals and short-range optical communications. Still, they are in high order for new applications such as augmented reality (AR), lidar, and facial recognition.
Globally, internet penetration is rising, especially in developing countries such as India and Brazil, stimulating the demand for GaAs wafers. Subsequently, the need for fiber-optic networks and backhaul, base stations, and Wi-Fi connectivity products with wireless communication infrastructure and have supported the growing penetration of the internet worldwide, which, in turn, is driving the adoption of GaAs wafers.
Restrains:
High initial costs: The significant initial cost of developing and deploying gallium arsenide (GaAs) wafer solutions, especially for large-scale projects, is a significant barrier.
Consistency and reliability: The variable nature of certain gallium arsenide (GaAs) wafer solutions and reliability issues, such as weather-dependent, present challenges.
Infrastructure needs: The requirement for large infrastructure investments to adapt gallium arsenide (GaAs) wafer solutions to existing frameworks can act as a market constraint.
Political environment: Unpredictability of government policy and regulatory changes can hinder investment and slow market development.
Market competition: Established and supported competing technologies, such as fossil fuels, challenge the wider adoption of gallium arsenide (GaAs) wafer solutions in certain regions.
Supply Chain Vulnerabilities: Supply chain disruptions, including shortages of critical materials or parts, can affect the availability and price of gallium arsenide (GaAs) wafer solutions, affecting market dynamics.
Public Acceptance: Negative perceptions or opposition to gallium arsenide (GaAs) wafer solutions, such as due to aesthetic or noise disadvantages, may prevent market acceptance.
Lack of knowledge: Lack of awareness and understanding among consumers, businesses, and policy makers about gallium arsenide (GaAs) solutions may hinder market growth as the full benefits and features of these technologies may not be recognized.
Want to know more about the report or any specific requirement?
We asked them to research ‘Ag equipment market’ all over the world, and their whole arrangement was helpful to us. Mordor Intelligence’s insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
We asked them to research ‘Ag equipment market’ all over the world, and their whole arrangement was helpful to us. Mordor Intelligence’s insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
We manage our resources 24/7 to identify issues and address them before they become problems
We are committed to providing reliable and highly accurate data with an excellent quality control system
6 Major regions and 40+ countries level analysis accomplished
Our pricing strategy is highly competitive in the market, without compensating on the quality and the timeline of project delivery