The global Epitaxial Wafer Market is estimated to account for US$ 2,778 Mn in terms of value by the end of 2022. Epitaxial Wafer, also known as Epi-wafer is placed over other silicon wafer through epitaxial process. Epitaxy is a process in which a monocrystalline silicon layer is deposited over the polished crystal surface of a silicon wafer. This wafer acts as semiconducting substrate for applications such as microelectronics, photovoltaic, and photonics. There are two types of epitaxial wafer named; Homoepitaxy and Heteroepitaxy.
Epitaxial Wafer Market: Drivers
Increased demand for energy-efficient lighting products
There are primarily two kinds of energy-efficient light bulbs on the market: light emitting diodes (LEDs) and compact fluorescent lamps (CFLs). Increased demand for energy-efficient lighting products that assist in reducing electricity consumption is one of the primary reasons that LED lighting is being used to replace conventional lighting in residential, commercial, and industrial settings. The majority of LED lights incorporate a number of ICs. Energy-productive bulbs give a greater number of lumens per watt than regular radiant bulbs. For instance, a 60-watt brilliant bulb gives 800 lumens, while a 15-watt smaller fluorescent light gives about a similar measure of light for significantly less energy.
Epitaxial Wafer Market: Opportunities
The growing popularity of IoT (IoT gadgets assist with interfacing the business and purchaser universes to assist with trading information among numerous enterprises. IoT has turned into a vital device to assist with organization navigation, observing information, and computerizing home and business processes) in wafers and the growing use of compound semiconductors in smart technologies are expected to provide lucrative opportunities for the growth of the epitaxial wafer market for compound semiconductors. During the forecast period, it is anticipated that each of these factors will have a distinct impact on the compound semiconductor epitaxial wafer market.
Epitaxial Wafer Market: Restraints
High cost of Recycling
The process of recycling waste into new materials and objects is called recycling. Energy recovery from waste materials is frequently incorporated into this idea. The recyclability of a material relies upon its capacity to reacquire the properties it had in its unique state. Thin silicon wafers have proven to be a problem since recycling this material takes a lot of work and sophisticated understanding. Fortunately, numerous strategies are being tested to help decrease the volume of waste being produced.
Global Epitaxial Wafer Market- Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has significantly disrupted almost all the industries including automotive, medical & healthcare, consumer electronics, clothing & textile, food & beverage, automation, manufacturing, aerospace & defense, oil & gas, construction, semiconductor, agriculture, and others. Liquidity shortfall, cash crunch, and others are the factors that are restraining growth of the various sectors during COVID-19 pandemic.
Additionally, coronavirus (COVID-19) pandemic has impacted almost all the industries globally including robotics, industrial automation and machinery. To combat COVID-19 pandemic, most of the countries had implemented lockdown and are now easing it phase-wise and industry wise. This has significantly impacted manufacturing sector as the facilities across the globe were temporarily shut down, such as in China Italy, and India, among others. As industrial manufacturing companies are the largest consumer of conveyers, labelling machines, packaging machines, and automated storage systems, the demand for these products has declined due to cease in the activities of production units.
Furthermore, end-use industries of collaborative robot market such as automotive, healthcare and others have been affected due to covid-19 pandemic. For instance, according to Coherent Market Insights’ analysis, the automotive market witnessed 12-15% decrease in sales. Nevertheless, COVID-19 has brought the healthcare and medical devices industry at center stage with unmatched demand for personal protective equipment (PPE), ventilators, diagnostic tests, and other medical supplies. Manufacturers and automation companies such as, ABB and others are making efforts to reduce the shortage of critical medical supplies needed to combat COVID-19 pandemic.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/epitaxial-wafer-market-2277
Key Takeaways:
The global collaborative robot market was valued at US$ 2,778 Mn in 2022 and is forecast to reach a value of US$ 7,354 Mn by 2030 at a CAGR of 12.9% between 2023 and 2030.
Due to the high presence of numerous semiconductor wafer companies like TSMC, Samsung, and SMIC in the region, Asia Pacific is the largest and fastest growing region in the global epitaxial wafer market.
Epitaxial Wafer Market Trends:
Micro-electromechanical systems (MEMS) devices and higher electron mobility are made possible by epitaxial wafers, which are in high demand in consumer electronics at the moment. One of the most important factors supporting the market's expansion is this. In addition, the automotive industry is increasingly using epitaxial wafers to track and control temperature, pressure, flow, and level with robots. This, combined with the rising deals of independent and electric vehicles (EVs) and self-driving trucks and the prospering auto area all over the planet, is pushing the development of the market. Also, the rising reception of the web of things (IoT) in epitaxial wafers because of their high level applications is decidedly affecting the market. In addition, the demand for epitaxial wafers is being fueled by a growing emphasis on lowering electricity consumption and public awareness of green technology. Additionally, the use of light-emitting diodes (LEDs) is being promoted by a number of nations' governments, which is expected to provide lucrative growth opportunities for industry investors and end users.
Epitaxial Wafer Market: Competitive Landscape
Major players operating in the global epitaxial wafer market include EpiWorks Inc., Global Wafers Japan Co. Ltd., Nichia Corporation, SHOWA DENKO K.K., Siltronic AG, Desert Silicon Inc., Electronics and Materials Corporation Ltd. Intelligent Epitaxy Technology Inc.IQE plc. , Jenoptic AG, MOSPEC Semiconductor Corporation, Norstel AB, Ommic S.A., Silicon Valley Microelectronics Inc. ,SVT Associates Inc. Universal Wafer Inc., Wafer Works Corporation, Xiamen Powerway Advanced Materials Co. Ltd., and Visual Photonics Epitaxy Co. Ltd.
