USD 38.92 million
Compound Semiconductor Materials Market Size, Share, Growth Analysis, By Types(Gallium nitride (GaN), gallium arsenide (GaAs), silicon carbide (SiC), and others), By Application(Optoelectronics (LEDs, lasers), power electronics (inverters, converters)), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45O2027 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
66
|Figures:
75
Compound Semiconductor Materials Market Insights
Global Compound Semiconductor Materials Market size was valued at USD 38.92 million in 2022 and is poised to grow from USD 40.40 million in 2023 to USD 54.44 million by 2031, growing at a CAGR of 3.80% during the forecast period (2024-2031).
The global compound semiconductor materials market is experiencing robust growth driven by their diverse applications in electronics, optoelectronics, and power devices.
The demand for high-speed and efficient components in 5G technology, IoT devices, and renewable energy systems is propelling the market.
Gallium nitride (GaN) and silicon carbide (SiC) materials are gaining prominence due to their superior properties.
However, challenges such as high production costs and limited availability of substrates may hinder the market's expansion.
Continuous research into cost-effective manufacturing processes and increasing collaborations between industry players and research institutions are likely to shape the market's evolution.
US Compound Semiconductor Materials Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
radio frequency (RF) devices
Fastest Growth
radio frequency (RF) devices
Growth Rate
3.80% CAGR
Global Compound Semiconductor Materials Market ($ Mn)
Country Share for Asia Pacific Region (%)
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Compound Semiconductor Materials Market Segmental Analysis
The global compound semiconductor materials market can be segmented based on type, application, and region. In terms of type, it includes gallium nitride (GaN), gallium arsenide (GaAs), silicon carbide (SiC), and others. Application-wise, it covers optoelectronics (LEDs, lasers), power electronics (inverters, converters), and radio frequency (RF) devices. Geographically, the market is divided into North America, Europe, Asia Pacific, and the rest of the world.
Compound Semiconductor Materials Market Analysis By Type
The largest segment in the compound semiconductor materials market has historically been III-V Semiconductors, with materials like Gallium Arsenide (GaAs) being widely used in telecommunications, microwave devices, and optoelectronics.
The fastest-growing segment has been Wide Bandgap Semiconductors, particularly Silicon Carbide (SiC) and Gallium Nitride (GaN). These materials offer significant advantages in terms of energy efficiency, high-temperature operation, and high-power applications. They are gaining traction in industries like electric vehicles (EVs), renewable energy, and advanced power electronics.
Compound Semiconductor Materials Market Analysis By Application
The consumer electronics segment has historically been one of the largest application segments for compound semiconductors due to the demand for high-performance devices in the consumer market. This includes smartphones, tablets, and high-resolution displays.
The automotive sector, particularly electric and hybrid vehicles, has been one of the fastest-growing segments for compound semiconductors. The shift toward electrification and the demand for power-efficient systems in vehicles have driven the adoption of compound semiconductor materials.
Global Compound Semiconductor Materials Market By Application
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Compound Semiconductor Materials Market Regional Insights
Asia-Pacific has historically been a major hub for electronics manufacturing and innovation. Countries like China, Japan, South Korea, and Taiwan have a strong presence in the compound semiconductor market. The Asia-Pacific region is home to some of the largest manufacturers of compound semiconductor devices and materials. With the increasing demand for smartphones, consumer electronics, and emerging technologies like 5G and electric vehicles, this region is expected to continue being a dominant player in the market.
The United States is a significant contributor to the compound semiconductor market. The region is known for its research and development activities, especially in advanced semiconductor materials and technologies. Compound semiconductors are crucial for defense applications, aerospace technology, and emerging fields like quantum computing. North America has been a leader in these areas, driving the growth of the compound semiconductor market.
Global Compound Semiconductor Materials Market By Region
- Largest
- Fastest
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Compound Semiconductor Materials Market Dynamics
Compound Semiconductor Materials Market Drivers
Rising Demand for Electronics and Communication Devices
- Compound semiconductor materials, such as Gallium Nitride (GaN) and Silicon Carbide (SiC), are known for their superior electronic and optical properties. These materials are used in high-frequency and high-power electronic devices, including those used in telecommunications, satellite communication, and radar systems. The increasing demand for these devices and technologies drives the demand for compound semiconductor materials.
Growth in Electric Vehicles and Renewable Energy
- Compound semiconductors are crucial for various energy-efficient applications, including electric vehicles (EVs) and renewable energy systems. They are used in power electronics for EVs and solar inverters due to their ability to handle higher voltages and temperatures. As the automotive and renewable energy sectors continue to expand, the demand for these materials is likely to grow.
Compound Semiconductor Materials Market Restraints
High Production Costs
- Compound semiconductor materials often involve complex manufacturing processes and specialized equipment, which can lead to higher production costs compared to traditional semiconductors. This cost factor can limit their adoption in certain applications, especially those with price-sensitive markets.
Limited Infrastructure and Expertise
- The production of compound semiconductor materials requires specific expertise and infrastructure. Setting up the necessary fabrication facilities and training a skilled workforce can be challenging and time-consuming. This limitation can impact the scalability of production and the overall market growth.
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Compound Semiconductor Materials Market Competitive Landscape
The global compound semiconductor materials market features intense competition among key players striving to advance research, production, and innovation. Industry leaders like DowDuPont, Sumitomo Electric Industries, and Shin-Etsu Chemical Co., Ltd., focus on enhancing material properties for applications in electronics, photonics, and power generation. Niche players such as IQE Plc and AXT Inc. specialize in specific semiconductor materials. Collaborations, acquisitions, and R&D investments remain central strategies for companies seeking to expand market share. The market's trajectory is driven by the growing demand for high-performance semiconductors in 5G, electric vehicles, and renewable energy sectors, fostering an environment of dynamic rivalry.
Compound Semiconductor Materials Market Top Player’s Company Profiles
- Qorvo, Inc. - United States
- Skyworks Solutions, Inc. - United States
- Cree, Inc. - United States
- II-VI Incorporated - United States
- Taiwan Semiconductor Manufacturing Company (TSMC) - Taiwan
- Sumitomo Electric Industries, Ltd. - Japan
- Samsung Electronics Co., Ltd. - South Korea
- MACOM Technology Solutions Holdings, Inc. - United States
- Nichia Corporation - Japan
- Infineon Technologies AG - Germany
- IQE plc - United Kingdom
- Analog Devices, Inc. - United States
- Advanced Micro Devices, Inc. (AMD) - United States
- Lumentum Holdings Inc. - United States
- United Monolithic Semiconductors (UMS) - France
- Broadcom Inc. - United States
- AXT, Inc. - United States
- OSRAM Opto Semiconductors GmbH - Germany
- GlobalFoundries - United States (with manufacturing locations globally)
- Sivers Semiconductors AB - Sweden
Compound Semiconductor Materials Market Recent Developments
- In January 2023, Infineon Technologies acquired US-based Smart Linear for an undisclosed amount.
- In February 2023, STMicroelectronics acquired US-based Epistar for USD 3.4 billion. Epistar is a leading manufacturer of GaN and silicon carbide (SiC) wafers.
- In March 2023, Qorvo acquired US-based United Monolithic Semiconductors (UMS) for USD 1.5 billion.
Compound Semiconductor Materials Key Market Trends
- Growing Demand for Wireless Communication Technologies: The increasing adoption of 5G technology and the subsequent need for higher frequencies, faster data rates, and lower latency were driving the demand for compound semiconductor materials. These materials, such as gallium nitride (GaN) and gallium arsenide (GaAs), offer superior performance characteristics in high-frequency and high-power applications, making them essential for the development of advanced wireless communication devices.
- Rise in Electric Vehicle (EV) Market: The electric vehicle market was on the rise, and compound semiconductor materials were playing a crucial role in enabling the development of efficient power electronics for EVs. Wide-bandgap materials like silicon carbide (SiC) and gallium nitride (GaN) were being used to create more efficient and compact power electronics components, leading to improved energy efficiency and longer battery life in electric vehicles.
Compound Semiconductor Materials Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global compound semiconductor materials market shows promising future prospects as emerging technologies like 5G, electric vehicles, and renewable energy rely on these materials for superior performance. Their unique properties, such as high electron mobility and efficiency, position them for key roles in advanced electronics and optoelectronics. The growing demand for high-speed communication, efficient power conversion, and cutting-edge sensors will drive sustained market growth. However, challenges related to cost and manufacturing processes must be addressed to fully unlock the potential of compound semiconductor materials across various industries. Overall, the market's trajectory seems poised for expansion, driven by technological innovation and industry diversification.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 38.92 million |
| Market size value in 2031 | USD 54.44 million |
| Growth Rate | 3.80% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Compound Semiconductor Materials Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Compound Semiconductor Materials Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Compound Semiconductor Materials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Compound Semiconductor Materials Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Compound Semiconductor Materials Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Compound Semiconductor Materials Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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