Revenue from the global semiconductor fabrication materials market is projected to increase from US$ 47.2 billion in 2023 to US$ 87.9 billion by 2033. According to Future Market Insights, the market would grow at a CAGR of 6.4% between 2023 and 2033.
The global market is driven by optoelectronic devices and wireless technologies. The demand for wireless devices is contributing to the growth of this market. Semiconductor materials are used in light-emitting diodes, lasers, and various space technologies. They are preferred in these applications given their high resistance to heat and radiation.
The high cost of raw materials and manufacturing processes significantly limit the market growth. This makes it difficult for market players to maintain profitability. The shortage of semiconductor chips has become a key restraint in the market. The COVID-19 pandemic along with supply chain disruptions has caused this shortage.
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Growing demand for advanced packaging materials, including interconnects and dielectric materials is also forcing the market proliferation. The demand for renewable energy sources is expected to offer opportunities for the global market. Furthermore, the increasing adoption of advanced materials for use in power electronics and electric vehicles is also driving market expansion.
Industries across various sectors are using semiconductors to develop high-performance components. The demand for miniaturization in electronics will likely open up market opportunities. The global expansion of the electronic industry is expected to contribute to the market expansion. The increasing digitization of economies is also expected to fuel growth.
Robust investments in cloud services and data centers are expected to surge the demand for semiconductor fabrication materials. The deployment of 5G technologies is also expected to emerge as a growth driver for the semiconductor materials market. The automotive industry is another key factor behind the market growth. The increasing application of advanced driver assistance systems and electric vehicles necessitates the deployment of advanced semiconductor materials.
Key Takeaways from the Semiconductor Fabrication Materials Market:
- The semiconductor fabrication materials industry in the United States is predicted to reach US$ 18.4 billion by 2033.
- The semiconductor fabrication materials industry in the United Kingdom is estimated to expand at a CAGR of 6.0% by 2033.
- During the forecast period, the semiconductor fabrication materials industry in China is expected to reach a market share of US$ 21.5 billion,
- The semiconductor fabrication materials industry in Japan is predicted to boom at a 6.4% CAGR.
- South Korea’s semiconductor fabrication materials industry is predicted to achieve a market share of US$ 4.7 billion.
- With a CAGR of 6.2% from 2022 to 2033, the photoresist material segment is expected to dominate the semiconductor fabrication materials industry.
- With a CAGR of 6.1% from 2022 to 2033, the memory application segment is expected to dominate the semiconductor fabrication materials industry.
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Competitive Landscape
In the semiconductor fabrication materials market, manufacturers are consistently investing in research and development. Their goal is to introduce advanced materials that can improve the efficiency and performance of semiconductor devices. Specifically, they are concentrating on creating materials that can endure high temperatures and decrease energy consumption. These manufacturers are also partnering with other market players to design customized materials to meet specific requirements. Manufacturers are also expanding their production capacities to cater to the growing demand for semiconductor materials.
Recent Developments
- DuPont Semiconductor Technologies is a leading producer of specialty materials used in semiconductor production. In October 2022, the company announced an investment of US$ 50 million. The investment is for an expansion project in Glasgow, Delaware. The expansion is aimed at catering to the growing demand in the semiconductor industry.
- In April 2023, AGC Inc. announced its plans to increase the output of EUV lithography photomask blanks. This is going to be done at its 100% subsidiary, AGC Electronics Co., Ltd. The AGC Group aims to increase its capacity to produce EUVL mask blanks by 30% of the present capacity by 2025.
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Top Key Players in the Global Market
- BASF SE
- DuPont de Nemours, Inc.
- Honeywell International, Inc.
- AGC Inc.
- Ferro Corporation
- Air Liquide SA
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