Single Crystal Silicon Wafers Market Size, Share, Growth Analysis, By Type(CZ Method, FZ Method), By Application(Consumer Electronics, Portable Computing Devices, Automotive, Others), By Region - Industry Forecast 2024-2031

Single Crystal Silicon Wafers Market size was valued at USD 10.58 billion in 2019 and is poised to grow from USD 11.16 billion in 2023 to USD 17.63 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The single crystal silicon wafers market is highly competitive market. The market is share hold by some of the leading industry players. With the growing demand of single crystal silicon wafers in solar panels, many companies and organizations are looking into enter this space. The growing research and advancements in production method leads to increase the investment and funding activities in the market. Currently, several unconventional wafer approaches were piloted or commercialized in industry, but none has yet sustained widespread market adoption. Due to this reason, the new manufacturers are stepping up with higher investments in order to produce new advanced wafers, which will be more improved with lesser cost as compared to conventional wafers. 'Shin-Etsu Chemical Co., Ltd.', 'Sumco Corporation', 'Siltronic AG', 'MEMC Electronic Materials Inc.', 'Okmetic Oyj', 'GlobalWafers Co., Ltd.', 'Wafer Works Corporation', 'SK Siltron Co., Ltd.', 'SunEdison Semiconductor Limited', 'PV Crystalox Solar plc.'

The rise in demand for consumer electronics, portable computing devices, and solar cells has resulted in a significant increase in demand for single crystal silicon wafers market. Renewing demand from the automobile industry and consumer electronics are two factors behind the increase in demand for solar powdered products, which tends to increase the consumption of market studied. In addition, due to the low labour cost, and other benefits, specifically in APAC region, the investors are planning to expand the production facility of single crystal silicon wafers in order to meet the current demand.

The use of single crystal silicon wafer in hybrid cars that also operate on solar energy is a key trend for the single crystal silicon wafer industry.

The global single crystal silicon wafers market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The Asia Pacific region is expected to account for the largest market with more than 70% share in 2021. Taiwan, followed by South Korea, Japan, and China have highest wafer installation capacities of 4,126 kw/m, 4,033 kw/m, 3,168 kw/m, and 2,361 kw/m respectively in 2018. TSMC in Taiwan, and Samsung & SK Hynix in South Korea accounted for the vast share of wafer capacity in each country and these were the top three capacity leaders worldwide. TSMC held 68% of Taiwan’s capacity while Samsung and SK Hynix represented 93% of the installed IC wafer capacity in South Korea at the end of 2020. Furthermore, the availability of low labour costs is expected to increase demand for single crystal silicon wafers market. Moreover, the market is being driven by a significant increase in demand for consumer electrons in this region. North America came in second to Asia Pacific in the single crystal silicon wafer market. The North American single crystal silicon wafer market is being driven by rising demand for low-cost wafers used in the production of solar cells. The increased presence of key solar cell manufacturers in North America is expected to drive demand for single crystal silicon wafers.