Global Gallium Oxide Market Size, Share, Analysis And Forecast To 2031

(MENAFN- Straits Research) Introduction

Gallium oxide, scientifically referred to as gallium sesquioxide (Ga2O3), is commercially available as a white powder comprising rod-shaped crystals, with the β-phase being the predominant crystalline structure. Gallium oxide (Ga2O3) finds application in a diverse range of fields, such as phosphor technology, solid oxide fuel cell cathodes, gallium gadolinium garnets (GGG) crystals, piezoelectric crystals, and as sputtering targets for gallium indium zinc oxide (GIZO) or indium gallium zinc oxide (IGZO) materials. The bandgap of this Semiconductor material is comparatively broader when compared to gallium nitride, silicon, and silicon carbide.

Market Dynamics Growing Semiconductor Industry Drives the Global Market

Gallium oxide is significantly contributing to the advancement of this growth narrative. The market expansion is expected to be boosted by the growing semiconductor sector in the Asia-Pacific (APAC) region. One notable instance is a research endeavor by the Associated Chambers of Commerce of India (ASSOCHAM) and EY, which forecasts that the Indian electronics and hardware sector will attain a significant market magnitude ranging from USD 112-130 billion by 2018. The observed increase in growth can be linked to the intentions of electronics and hardware manufacturers to extend their production capacities in India. This expansion is driven by the need to fulfill the requirements of both the home market and markets in the Middle East, Africa, and SAARC countries. Such factors contribute to the expansion of the market.

Gallium oxide exhibits distinctive characteristics, including an appropriate band gap for solar-blind UV bands, a strong breakdown field strength, and transparency as a conductive oxide. These characteristics provide opportunities for applications like high-temperature sensors, power converters, UV detectors, and transparent electrodes. Nevertheless, the existing manufacturing techniques are characterized by high expenses and inefficiencies, while the performance of devices is impeded by material quality and doping challenges. Hence, allocating resources toward research and development endeavors aimed at surmounting these obstacles and fully harnessing the capabilities of gallium oxide has the potential to bolster its commercial viability. This would effectively cater to the escalating need for cutting-edge semiconductor materials in the aerospace and automotive sectors.

Regional Analysis

Asia-Pacific is the most significant global gallium oxide market shareholder and is anticipated to expand significantly during the forecast period. The region exhibits a notable concentration of semiconductor makers, with countries such as China, Japan, and South Korea assuming prominent positions in this industry. These countries have fostered thriving electronics sectors and consistently invested in state-of-the-art technologies. The region's dedication to technical progress is due to the increasing need for consumer electronics, electric vehicles, and renewable energy systems. Thus, there has been a notable adoption of gallium oxide-based devices in the Asia-Pacific region, mostly due to the region's robust supply-side capabilities and the escalating demand for cutting-edge solutions.

Key Highlights

• The global gallium oxide market size was valued at
  USD 15.13 million in 2022. It is projected to reach
  USD 139.12 million by 2031, registering a
  CAGR of 32.1%
  during the forecast period (2023-2031).
• Based on technology, the global gallium oxide market is segmented into molecular beam epitaxy, chemical vapor deposition, chemical synthesis, thermal vaporization and sublimation, and others molecular beam epitaxy segment dominates the global market and is expected to expand significantly during the forecast period.
• Based on application, the global gallium oxide market is divided into power and high-voltage devices, electroluminescent devices, gas sensors, and others. The power and high-voltage devices segment owns the largest market share and is anticipated to expand substantially over the forecast period.
• Asia-Pacific is the most significant global gallium oxide market shareholder and is anticipated to expand significantly during the forecast period.