The use of electronic grade silicon is rapidly advancing in
USA, Rockville MD, Aug. 26, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global electronics grade silicon market is valued at US$3.8 billion and is expected to grow at a CAGR of 5.8% through 2032.
Electronics-grade silicon is considered the backbone of modern microelectronic chips. Due to the high usage of electronic-grade silicon in the production of semiconductors, the market is growing steadily. Technological advancements in electronic and electrical devices, the deployment of 5G networks and the growing demand for electric vehicles are the main drivers for the growth in demand for electronic-grade silicon.
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As a domino effect of the pandemic, the demand for modern electronics has grown rapidly. Humans already live in a digital age where modern devices play a major role in their daily lives.
Despite the pandemic, the semiconductor industry was valued at US$595 billion in 2021, with a 27% increase in revenue compared to 2020. Demand has strongly emerged from the IT sector due to the change in the mode of hybrid work. Additionally, due to energy policies, the demand for electronic vehicles has increased, requiring microelectronic chips containing electronic-grade silicon.
How is the electronic grade silicon market expected to develop over the decade?
“Intensifying demand from the computer, telecommunications and electronics industry”
There is a high demand for semiconductors in the electrical and electronics industry. Additionally, the market for digital devices is growing exponentially, and due to consumer demands, continuous technological upgrades are seen in the fields of computing, electronics, and telecommunications.
Moreover, with the penetration of big data and automation in almost every industry, the demand for storage devices is increasing. For proper operation, all of these products require embedded chips containing EGS.
Moreover, consumer inclination towards technology is driving the market and constant innovations are paving the way for technological transformation. This change can only be realized with the increased production of electronic grade silicon which is additionally required for the manufacture of integrated chips and microelectronics.
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Key segments covered by the Electronic grade silicon Industry survey
- By type:
- CZ monocrystalline silicon
- Multicrystalline silicon
- By Purity:
- By level:
- By Dopant:
- Per application:
- Micro-electronic circuit
In a world where demand exceeds supply, a manufacturer’s biggest challenge is to strengthen the supply chain. Most devices running on IOT and AI require embedded chips processed by electronic-grade silicon. Manufacturers are also focusing on upgrading technology for efficient processing of large amount of data generated by AI and IOT.
Moreover, market players are constantly investing in R&D and increasing their production capacity to meet the growing demand. Reducing operating costs while maintaining product quality is a major key factor prized by market players.
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The key players in the Electronic grade silicon Market
- Daqo New Energy
- GCL (Group) Holdings Co.,
- World brochures
- Hemlock Semiconductor Operations LLC
- REC Silicon ASA
- Silicon Materials, Inc
Main takeaways from Electronic grade silicon Market research
- The global electronics-grade silicon market is expected to grow at a CAGR of 5.8% and reach $6.8 billion by the end of 2032.
- The market growth rate was 4% CAGR for the period 2017-2021.
- Under end-use, microelectronics dominates the market and is worth US$2.83 billion in 2022.
- East Asia dominates the global electronics-grade silicon market with 30.5% market share in 2021.
- CZ monocrystalline silicon is expected to hold 58.5% market share in 2022.
- Depending on the region, demand for electronic-grade silicon is expected to grow at CAGRs of 5% and 4.6%, respectively, in East Asia and North America.
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