According to Stratistics MRC, the Global Semiconductor Materials Market is accounted for $66.52 billion in 2024 and is expected to reach $97.61 billion by 2030 growing at a CAGR of 6.6% during the forecast period.
Semiconductor materials are crucial elements in modern electronics due to their unique electrical properties. These materials have a conductivity between that of conductors (like metals) and insulators (like glass). The conductivity of semiconductors can be controlled and modified by introducing impurities or by applying electrical fields or light, making them highly versatile for various electronic applications. Intrinsic semiconductors, such as silicon and germanium, have a limited conductivity at room temperature but can conduct better at higher temperatures or with added energy.
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Europe region is projected to hold profitable growth during the forecast period. Government policies aim to stimulate research and development, encourage innovation, and strengthen local manufacturing capabilities across the region. Subsidies often support semiconductor companies in upgrading technologies, improving efficiency, and reducing environmental impact throughout the region. Additionally, investment in semiconductor education and training programs ensures a skilled workforce, crucial for sustaining growth in this high-tech industry. Government initiatives prioritize sustainable practices, promoting the regional development of eco-friendly semiconductor materials and processes.
Some of the key players in Semiconductor Materials market include Cabot Microelectronics Corporation, Dupont, FormFactor, Inc, Hemlock Semiconductor, Honeywell International Inc, JSR Corporation, KLA Corporation, SUMCO Corporation, Texas Instruments Incorporated and Ultrapure Technology, Inc.
Key Developments:
In June 2024, G-7 leaders announced plans for a semiconductor supply chain coordination group. The group will help G-7 leaders focus on subsea cable connectivity for Internet security and resilience, amid global chip shortage challenges.
In February 2024, Researchers from the Indian Institute of Technology Guwahati, Department of Electronics and Electrical Engineering and Centre for Nanotechnology, in collaboration with IIT Mandi and Institute of Sensor and Actuator Systems, Technical University Wien, developed a cost-effective method to grow a special semiconductor.
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