(MENAFN- Ameliorate Digital Consultancy)
The global electronic grade silicon market is currently valued at US$ 3.8 billion and is predicted to expand at a cagr of 5.8% to reach US$ 6.8 billion by the end of 2032.
High demand for electronic grade silicon, mainly from the semiconductor industry, is poised to drive market growth. Almost 80% of electronic grade silicon is utilized in integrated circuits and microelectronics.
Electronic grade silicon is considered the back bone of modern microelectronics chips. Owing to high utilization of electronic grade silicon in semiconductor production, the market has been experiencing steady growth. Advancements of technology in electronic & electrical devices, deployment of 5G networks, and rising demand for electric vehicles are key drivers for the demand growth of electronic grade silicon.
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How is the Electronic Grade Silicon Market Expected to Fare Over the Decade?
“Intensifying Demand from IT, Telecommunications, & Electronics Industry”
There is heavy demand for semiconductors in the electrical & electronics industry. Additionally, the digital appliance market is increasing exponentially, and owing to the requirements of consumers, continuous technological upgrades are being seen in the fields of computing, electronics, and telecommunications.
Key Takeaways from Electronic Grade Silicon Market Study
The global electronic grade silicon market is expected to expand at a CAGR of 5.8% and reach US$ 6.8 billion by the end of 2032. The market's growth rate was 4% CAGR for the period of 2017-2021. Under end use, micro-electronics lead the market and are amounted at US$ 2.83 billion in 2022. East Asia dominates the global electronic grade silicon market with 30.5% market share in 2021. CZ mono crystalline silicon is likely to hold 58.5% market share in 2022. Based on region, demand for electronic grade silicon is expected to increase at CAGRs of 5% and 4.6%, respectively, in East Asia and North America.
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Market Development
In a world where demand is outpacing supply, a manufacturer's biggest challenge is to strengthen the supply chain. Most devices running on IOT & artificial intelligence require integrated chips processed through electronic grade silicon. Manufacturers are also focusing on technological upgradation for the efficient processing of large amount of data generated through AI & IOT.
In addition, market players are consistently investing in R&D and expanding their production capacity to meet the increasing demand. Reduced operating costs while maintaining product quality is a key major factor looked upon by market players
Key players in the Electronic Grade Silicon Market
Daqo New Energy GCL (Group) Holdings Co., Global Wafers Hemlock Semiconductor Operations LLC OCI REC Silicon ASA Silicon Materials, Inc SUMCO
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Key Segments Covered in the Electronic Grade Silicon Industry Survey
By Type : CZ Mono-crystalline Silicon Multi-crystalline Silicon
By Purity : By Grade : By Dopant :
By Application : Micro-electronic circuit Photovoltaics
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