Compound Semiconductor Materials Market is segmented by Product Type (Group IV-IV, Group III-V, and Group II-VI), by Application Type (Electronics & Consumer Goods, Aerospace & Defense, Telecommunication, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Compound Semiconductor Materials Market is segmented by Product Type...
The Compound Semiconductor Materials Market is expected to grow from USD 38.64 millionin 2022 to USD 48.46millionby 2028 at a CAGR of 3.81% during the forecast period.
Compound semiconductors are semiconductors made up of two or more elements. The majority of compound semiconductors are created by combining elements from Group III and Group V of the Periodic Table of the Elements (GaAs, GaP, InP, and others). Other compound semiconductors such as CdTe, ZnSe, and others are made using Groups II and VI.
Market Dynamics
The market is expected to be driven by increased product use in various electronic applications such as electronic film coatings, electronic wafers, and integrated circuits. Growing industrialization has resulted in an increase in data transactions, which has boosted the growth of the semiconductor market. Because of their high radiation resistance, compound semiconductor materials are used in scientific applications such as rocket coatings and jumpsuit coatings. Over the forecast period, this trend is likely to supplement the market growth.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories-
By Product Type
Group IV-IV
Group III-V
Group II-VI
By Application Type
Electronics & Consumer Goods
Aerospace & Defense
Telecommunication
Others
By Region
North America
Europe
Asia-Pacific
Rest of the World
By Product Type
The compound semiconductor materials market is segmented into Group IV-IV, Group III-V, Group II-VI. The Group III-V segment is expected to remain the largest product type in the market during the forecast period since it is widely used in solar cells, transistors, LEDs, lasers, and IoT devices for 5G and smart cars. Group III-V compound semiconductor materials have an advantage over silicon-based semiconductors due to their superior power efficiency and distinctive optical characteristics.
By Application Type
The market is segmented into electronics & consumer goods, aerospace & defense, telecommunication, and others. Telecommunication is expected to remain the dominant application type in the market during the forecast period due to the growing demand for semiconductors for wireless communication and mobile devices. Power amplifiers and switches for cell phones are manufactured using GaAs substrates. Due to their superior speed and efficiency over silicon semiconductors, their application in wireless communication is expanding.
Regional Analysis
In terms of regions, Asia-Pacific is expected to witness significant growth in the compound semiconductor materials market during the forecast period due to an increase in consumer electronics manufacturing sector demand and widespread product use. Consumer electronics is anticipated to continue to maintain its incontestable lead in the market in the coming years, as a result of the region's rapid urbanization and increased disposable income.
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Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the compound semiconductor materials market:
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
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s compound semiconductor materials market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Compound Semiconductor Materials Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
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The key factors that are driving the compound semiconductor materials market include growing product demand for the production of semiconductors, coupled with increasing product penetration and rising technological innovations.
Asia-Pacific is estimated to remain dominant in the compound semiconductor materials market in the foreseeable future on account of a surge in demand from the consumer electronics manufacturing industry, coupled with high product penetration.
Asia-Pacific is expected to be the fastest-growing region in the coming years due to rapid urbanization and rising disposable income in the region, contributing to the expansion of consumer electronics and thus, complementing the market growth.
Group IV-IV is expected to be dominant in the coming years due to rising demand for SiC semiconductors. SiC has ten times the breakdown electric field strength of silicon, a broader range of p- and n-type control required for device construction, higher voltage tolerance, the ability to operate at higher temperatures, and three times the bandgap.
