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Silicon Wafer Market Share, Size,Price, Growth, Outlook and
Forecasts to 2024 | Hexa Research
“ The global silicon wafer market size is estimated to reach USD 12.22 billion
by 2024.”
28 November 2018
The global silicon wafer market size is estimated to reach USD 12.22 billion by 2024. The market is anticipated to witness
significant growth during the forecast period due to the high demand for semiconductors in end products such as
smartphones, tablets, and others. Increasing preference for compact, more powerful, and yet affordable devices results
in escalating demand for silicon wafers during the forecast period. The increase in demand for consumer electronics
such as TVs, refrigerators, and home theatres further supports the growth of the market over the coming years.
Global silicon wafer market is expected to grow at a value CAGR of around 7.0% from 2017 to 2024. Asia Pacific
accounted for the substantial market share in 2016. The growth of the market in the region is attributable to rising
preference for technologically sophisticated electronic devices and gadgets. Asia Pacific is followed by North America in
terms of growth rate, which is majorly due to enhanced use of silicon wafers for manufacturing solar cells. The
accelerating need for reliable, clean and safe energy source in countries such as the U.S. and Canada are likely to
increase the demand for solar cell, resulting in growth of the market for silicon wafers as well.
Semiconductors find applications in various medical devices such as ultrasound scanners and ECG devices and this drives
the market growth during the forecast period. Furthermore, increasing use of homecare devices such as glucose meters
and blood pressure monitors is expected to positively impact the market growth. Requirement of lower power coupled
with more in-built functions of semiconductors have made medical devices more portable and efficient.
Browse Details of Report @ https://www.hexaresearch.com/research-report/silicon-wafer-market
Increasing installations of automated silicon wafer fabrication and transport systems by the
manufacturers support their market sustainability. For instance, Siltronic AG employs automated
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