DUBLIN--(BUSINESS WIRE)--The "Gallium Oxide in Semiconductors Market (2021-2030)" report has been added to ResearchAndMarkets.com's offering.
The Gallium Oxide in Semiconductor Market size is estimated to be $8.7M in 2020, growing at a CAGR of 66.9% during the forecast period 2021-2030.
Gallium Oxide, also known as gallium sesquioxide has the molecular formula Ga2O3 and is slightly soluble in alkalies. This chemical compound, on the other hand, is thermally stable and insoluble in water. In addition, it has a massive band gap of nearly 4.8 eV, allowing manufacturers to use a thinner system for a given voltage. In the electronics industry, thinner devices are more effective owing to its less resistance feature. The chemical's high efficiency is expected to help the global gallium oxide in semiconductor market expansion.
Moreover, the significant growth in the semiconductor industry is analyzed to be major driving factor for the Gallium Oxide market owing to the unique properties such as high critical electric-field strength, band gap and so on. The research stage of Ga2O3-device technology is just beginning to reach critical mass, and researchers are now mapping out the application space for fast switches, multi kilo volt-class power transistors, and RF devices.
Gallium Oxide in Semiconductor Market Report Coverage
The report covers an in-depth analysis of the following segments of the Gallium Oxide in Semiconductor Market.
- By Product - (3N) 99.9% Gallium Oxide, (4N) 99.99% Gallium Oxide, (5N) 99.999% Gallium Oxide and (6N) 99.9999% Gallium Oxide.
- By Components- MOSFETs and FETs.
- By Type- Substrates and Epitaxial Wafers.
- By Wafer Size- 2 Inch and 4 Inch.
- By Device- Opto-Semiconductor Device, Power Semiconductor Device and RF Semiconductor Device.
- By Application- Power Electronics, Consumer Electronics, Automotive Electronics, Solar Power Devices, Industrial Machinery, Aerospace, Defense and Others.
- By Geography-North America, South America, Europe, Asia Pacific and Rest of the World.
Key Takeaways
- MOSFETs segment held the largest market share in the year 2020 owing to the increase in academic institutes' research and development activities.
- Substrates segment held the largest market share in the year 2020 owing to the growing number of key players providing gallium oxide substrates for various application coupled with the growing number of product launches is set to fuel its market growth.
- APAC dominated the gallium oxide in semiconductor market in 2020 owing to the booming semiconductor industry in that region.
- The growing semiconductor industry along with increasing demand of consumer electronics products such as smartphones, led lamps and computer coupled with the wide usage of gallium oxide is fueling its market growth.
Gallium Oxide in Semiconductor Market Drivers
The growing semiconductor industry
The growing semiconductor industry along with increasing demand of consumer electronics products such as smartphones, led lamps and computer coupled with the wide usage of gallium oxide is fueling its market growth. Apart from this, the growing semiconductor industry in APAC region is set to drive its market growth in the future. For instance, according to a study by the Associated Chambers of Commerce of India (ASSOCHAM) and EY, the Indian electronics and hardware industry is expected to reach US$112-130billion by 2018 as electronics and hardware manufacturers are looking to increase their manufacturing base in India to cater to the domestic market in the Middle East, Africa and SAARC countries.
Increasing demand for gallium oxide transistor
The increased usage of gallium oxide transistors in high-voltage rectifiers in distribution systems and power conditioning units such as photovoltaic solar systems and electric vehicles such as automobiles, trains, and aircraft is driving the gallium oxide transistor market development. Moreover, Ga2O3 transistors are used in power distribution systems that charge electric vehicles or convert renewable electricity into the power grid from alternative energy sources such as solar panels or wind turbines, owing to the advantages of gallium oxide in transistors.
Gallium Oxide in Semiconductor Market Challenges
Limited Production of Gallium
Limited production of gallium is set to hamper its market growth in the upcoming years. For instance, according to USGS, in 2019, gallium metal exports decreased by about 90% in 2019 from those of 2018, mostly owing to the introduction of higher import tariffs on gallium from China and the 300% increase of gallium exports from China in 2018 before the tariffs were introduced. Primary-low grade gallium (99.99% pure) prices in China decreased by about 7% in 2019. Low grade gallium prices worldwide continued to decline as China's primary low grade gallium production continued to exceed worldwide consumption despite reduced production.
Gallium Oxide in Semiconductor Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Gallium Oxide in Semiconductor Market. Gallium Oxide in Semiconductor Market top 10 are Aluminum Corporation of China Limited, Neo Performance Materials Inc., Flosfia Inc., Saint-Gobain S.A., Super Conductor Materials Inc., Vital Materials Co Ltd, ABSCO Limited, Aixtron SE, Novel Crystal Technology Inc., and Hebei Suoyi New Material Technology Co Ltd.
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