GaAs Wafer Market 2020 Global Industry Share, Size, Key Players, Trends, Competitive And Regional Forecast To 2023

The report on the Global GaAs Wafer Market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.

Market Insights

The global GaAs wafer market has observed to be proliferating mainly owing to the booming mobile phone industry and wireless communication devices. According to Market Research Future Reports, the market is poised to grow from USD 625 million in 2017 to USD 1224.3 million by 2023, at a CAGR of 12% by 2023. The market is thus expected to gain prominence in the years to come. Earlier, the market acquired a valuation of USD 625 million in 2017, and since then the market has earned the track of productivity. Now that, the market is now probable to reach greater heights with advancing more valuation owing to many introducing factors.

Gallium Arsenide (GaAs) is referred as semiconductor compound that includes two elements gallium (Ga) and arsenic (As, which is used in various end-use applications such as solar cells, manufacturing of LEDs, laser diodes, and wireless communication. GaAs is considered to be more heat-resistant as compared to silicon, which makes it suitable for use in power amplifiers for transmitting high-speed signals.

The future of the GaAs wafer market seems to be attractive with an array of opportunities in radio frequency (RF) electronics and optoelectronics.

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Global GaAs Wafer Market Drivers & Trends

The primary drivers of growth for global GaAs wafer market are recorded to be growing penetration of light emitting diode (LED) in general lighting as well. The emerging trends having a direct impact on the dynamics of the gallium arsenide wafer industry, hence include rising demand for larger size GaAs wafers and reusing gallium arsenide wafers for higher performance devices.

With that, the substantially increased demand for digital cameras, laptops are also contributing to a greater extent towards the growth of GaAs market globally as it is more efficient and economical than silicon when it comes to extending battery life significantly. Also, GaAs wafers can meet specific demands in cellular terminals such as multiple inputs, carrier aggregation, and MIMO antennas among others.

GaAs wafers have numerous advantages, some of which are listed as a better signal to noise ratio, high thermal stability, broader temperature operating range, and high electron mobility. On this contrary, mobile devices are expected to lead in the application segment during the forecast period. After the launch of 4G and 5G enabled smartphones, the market of 2G and 3G mobile devices dropped significantly, thus creating opportunities for GaAs market to shift towards 4G and 5G. However, swift change in new smartphone technologies is extensively encouraging smartphone manufacturers to replace existing semiconductor wafers. Hence, these factors are significantly boosting the global GaAs wafer market in recent time and will bolster in the forecast period.

Segmentation

According to the reports published by MRFR, the global GaAs Wafer Market segmentation is done by the production method. This market is segmented into vertical gradient freeze (VGF), Liquid encapsulated Czochralski (LEC), Molecular Beam Epitaxy (MBE), Metal-Organic Vapor Phase Epitaxy (MOVPE).

Moreover, by the mode of application, the market is comprised of mobile devices, photovoltaic devices, wireless communication, optoelectronic devices, aerospace & defense, and others.

Key players

Projecting players in global GaAs wafer market are Advanced Wireless Semiconductor Company (Taiwan), Global Communication Semiconductors, LLC (US), Ommic S.A. (France), WIN Semiconductors Corporation (Taiwan), AXT Inc. (US), Century Epitech Co Ltd. (China), Powerway Advanced Material Co., Ltd. (China), Intelligent Epitaxy Technology, Inc. (US), Sumitomo Electric Semiconductor Materials Inc. (US), Freiberger Compound Materials GmbH (Germany), IQE plc (UK), Qorvo, Inc. (the US), United Monolithic Semiconductors (France), and Visual Photonics Epitaxy Co, Ltd. (Taiwan) among others.

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Regional Outlook

The global market for GaAs wafers has observed to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of GaAs wafer market is studied under the regions of North America, Europe, Asia-Pacific, and the rest of the world.

Of these, Asia-Pacific is expected to lead the GaAs wafer market during the forecast period owing to increasing population, an increasing number of semiconductor manufacturers, telecom industries, government initiatives to make smart cities, and rising smartphone users. These are a few factors that are driving the GaAs wafer market in Asia-Pacific. Countries such as China, Taiwan, Japan are expected to lead the GaAs wafer market in Asia-Pacific. Whereas, India, South Korea, is expected to grow at a faster rate during the forecast period.

Next comes North America which is also expecting to register a considerable growth during the forecast period owing to higher adoption of new technologies and the presence of key market players in this region. These factors are hence, also driving the North American GaAs wafer market in substantial ways.

Europe is then, also expected to remain stable in the market share during the forecast period due to the increasing use of GaAs wafers in consumer electronics applications.

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