In the last decade, digitalization has led to various innovations in the field of electronics, and has opened doors for many technologically advanced devices and gadgets. There has been a considerable rise in the demand for smart phones, laptops and computers, and this in turn has led to the growth of the silicon market.
Global Silicon Wafers Market: Overview
Silicon is a high quality semiconductor and its silicon crystals can be altered as and when desired, making it suitable for various electronic devices. Silicon wafers can be molded in various sizes to be used for different applications, also they have the ability to be processed in specialized ways.
They are mainly used in the fabrication of photoelectric cells, integrated circuits (ICs), and other micro-devices.
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Due to their small size, easy replacement, high reliability, low weight, and low power consumption silicon wafers are extensively used in daily electronics such as calculators and laptops, ship equipment, solar cells, such as and space craft’s among others.
In the report, Transparency Market Report (TMR) provides a detailed analysis of the opportunities present in the silicon wafers market across the world. It also gives insight into the current trends in the market, industry growth drivers, and restraints.
Global Silicon Wafers Market: Drivers and Restraints
Every now and then, new technological advancements are being made. The electronic market is booming with the advent of new gadgets and devices.
To meet the growing demand, silicon wafers are brought in use on a daily basis. What makes the silicon market grow at an exponential speed is the semiconductor properties of silicon.
The silicon market has expanded considerably as the number of semiconductor manufacturers is growing at a significant pace.
The rising disposable income of consumers in developing regions of Asia Pacific is another factor that is driving the silicon wafer market. One can see a favorable upward shift in the disposable income of the consumers leading to increased demand of advanced technological gadgets such as computers, laptops, and smartphones.
Solar cell manufacturers are also contributing to the growth of the silicon wafers market. The increased solar PV installations in many parts of the world are expected to raise the demand for the silicon wafers market.
Though the demand for the silicon market is on rise, there are a few factors that pose threat to the growth of the market. The by-products released during the production of silicon wafers are hazardous and do not comply with environmental policies of many countries.
Also, lengthy process increases the production cost, and recycling of silicon wafers can be financially draining due to high components involved during the process. In addition, silicon thin films are less bulky, lighter and economically more viable in terms of production and usage, replacing the silicon wafers at a remarkable speed.
Global Silicon Wafers Market: Regional Outlook
Due to increased disposable income of consumers, Asia Pacific leads the global silicon market. The growing population also keeps the demand for electronic gadgets and devices constantly high, subsequently leading to the growth of the silicon wafers market.
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