Global Compound Semiconductor Materials Market: Overview
Semiconductors are naturally occurring chemicals that have conductivity between that of conductors and insulators. Compound semiconductors are made by the chemical reaction of one or more semiconductor materials. They find extensive usage in manufacturing of electrical and engineering equipment for their unique electrical properties.
As the global automation industry is growing, demand for semiconductors is expected to rise over the forecast period of 2023 to 2030 because of their usage in basic electrical circuits, as per Transparency Market Research. The compound semiconductor market is set to register steady growth in the future.
Global Compound Semiconductor Materials Market: Competitive Landscape
A number of manufacturers are involved in the production of compound semiconductors. This makes the market scenario fragmented. A few of these players are:
- SK siltron Co., Ltd.
- Sumitomo Electric Industries, Ltd.
- JX Nippon Mining & Metals
- FURUKAWA CO., LTD.
- Shin-Etsu Chemical Co., Ltd.
- SHOWA DENKO K.K.
- Xiamen Powerway Advanced Material Co
- Freiberger Compound Materials GmbH
- WIN Semiconductors Corp
- IQE PLC
These manufacturers recognize the rising demand for their product and are committed to increasing production by acquisition of chemical extraction facilities.
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Global Compound Semiconductor Materials Market: Key Trends and Drivers
- The global automation industry is expected to reach a valuation of USD 368 million in 2025, from that of USD 190 million in 2017, growing at a CAGR of 8.8%. Semiconductors are a big part of any automation process owing to their usage in building circuits and electrical systems.
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- The compound semiconductors market depends on the mining industry for raw material. The top players in the global mining industry had a valuation of around 692 billion U.S. dollars in 2019. This trend is expected to grow as more regions of the world are explored for minerals.
Global Compound Semiconductor Materials Market: Regional Analysis
The Asia Pacific region (APAC) is currently the global leader in the compound semiconductor materials market owing to a robust information technology industry here that demands raw materials at a rapid rate.
North America and Europe are estimated to register modest growth in this market due to a major outsourcing of industrial production to other regions.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.