Breaking Down the Numbers: Advanced Semiconductor Materials Market to Triple in Value by 2034

 

The Global Advanced Materials for Semiconductor Market (반도체 시장을 위한 첨단 소재) is projected to witness substantial growth over the next decade, driven by the increasing adoption of flexible and printed electronics and significant advancements in semiconductor technology. According to the latest market analysis, the industry, valued at US$ 50.7 billion in 2023, is expected to reach US$ 176.4 billion by the end of 2034, advancing at a robust CAGR of 12.2% from 2024 to 2034.

The rise in the adoption of flexible and printed electronics is significantly boosting the market size of advanced materials for semiconductors. Recent advancements in flexible electronics and digital technologies have led to a surge in investment in inorganic semiconducting materials-based approaches. The ongoing research and development (R&D) of smaller and more energy-efficient devices is also a crucial driver of market expansion. Notably, graphene semiconductors are replacing their silicon counterparts due to their superior power efficiency and lower energy consumption.

 

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Market Dynamics: Vendors in the advanced materials for semiconductor market are increasingly exploring the use of silicon carbide (SiC) in various end-use industries. SiC operates more efficiently at high voltages than competing technologies and is being employed in a wide range of high-voltage applications, such as high-speed charging stations and power converters in electric vehicles (EVs).

 

Market Introduction: Advanced semiconductor materials are pivotal in various electric and optical devices, including diodes, transistors, and integrated circuits (ICs). These materials are integral to manufacturing smartphones, industrial devices, self-driving vehicles, advanced medical devices, and other electronic devices. Some of the prominent advanced semiconductor materials include Gallium Arsenide (GaAs), Gallium Phosphide (GaP), Indium Phosphide (InP), graphene, Transition Metal Dichalcogenides (TMDs), and black phosphorus.

GaAs is a III-V direct band gap semiconductor used in manufacturing diodes, field-effect transistors (FETs), and ICs. GaP, a polycrystalline compound semiconductor, is utilized in producing LEDs. InP, a binary semiconductor, finds application in optoelectronic components, high-speed electronics, and photovoltaics. Recent trends in the advanced materials for semiconductor market indicate a surge in the usage of graphene for developing functional semiconductors, which can be employed in making smaller and faster electronic devices for quantum computing. TMDs are emerging as potential materials for high-end electronics and optoelectronics, with applications extending to flexible electronics and personalized medicine.

 

Market Drivers

• Rise in Adoption of Flexible and Printed Electronics: The development of flexible and printed electronics is significantly driving the market. Inorganic, organic, and hybrid composite semiconducting materials are extensively employed due to their superior performance, stability, and low-cost processing in ambient environments.
• R&D of Smaller and More Energy-efficient Devices: The increasing demand for faster, more powerful, and energy-efficient semiconductors is anticipated to spur market growth. Vendors are investing in 2nm technology to enhance performance, reduce power consumption, and increase transistor density.

 

Notable Developments

In 2023, Adidas AG partnered with Infineon Technologies AG to develop the Lighting Shoe, equipped with high-end sensor technology that reacts to music and beats from the environment with programmable lighting effects. This innovative product highlights the potential of advanced semiconductor materials in consumer electronics.

 

Expansion in IT and Telecommunications Sector

The IT and telecommunications sectors are crucial to the advanced materials for semiconductor market (半導体市場向け先端材料). Semiconductors are essential for telecom infrastructure, particularly in the expansion of 5G networks. According to McKinsey's February 2023 report, telecommunication providers are projected to invest approximately US$ 600 billion in 5G infrastructure from 2022 to 2025, further propelling market growth.

 

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Regional Outlook

Asia Pacific held the largest market share in 2023, driven by the expansion in the consumer electronics sector and the presence of major semiconductor manufacturers. According to the Consumer Electronics and Appliances Manufacturers Association, India's appliances and consumer electronics sector is expected to grow by about 10% in 2024 due to the introduction of more premium products.

 

Key Players

·         WOLFSPEED, INC.

·         Coherent Corp.

·         Sumitomo Electric Industries Ltd.

·         Nichia Corporation

·         Soitec

·         AXT, Inc.

·         ENTEGRIS

·         Samsung Electronics Co., Ltd.

·         IQE PLC

·         Applied Materials

·         LG Chem Ltd.

·         Resonac Holdings Corporation

·         BASF SE

·         KYOCERA Corporation

 

Key Developments

• April 2024: Coherent Corp. secured US$ 15 million in funding from the CHIPS and Science Act of 2022 to strengthen the U.S. semiconductor supply chain.
• January 2024: Wolfspeed, Inc. expanded a long-term silicon carbide wafer supply agreement with a leading global semiconductor company, ensuring the supply of 150mm silicon carbide bare and epitaxial wafers.

 

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