Microelectronics Material Market expected to grow with CAGR at a 6.2% by 2032
Apr 16, 2024
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Market Overview
The microelectronics material market industry is projected to reach USD 93.44 Billion by 2032, exhibiting a CAGR of 6.2% during the forecast period (2023 - 2032).
Competitive Landscape
The major players of the market are
- Entegris,
- L. Gore,
- PiBond,
- Dow Corning,
- BASF,
- Honeywell Electronic Materials,
- Shin-Etsu MicroSi, Inc,
- KYOCERA,
- DuPont,
- LORD Corp.
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Market Dynamics
The global microelectronics materials market is growing due to new technologies like 5G and AI, technical advances, and rising demand for smart gadgets. Consumer demand for electronics is driving microelectronic materials industry expansion. Microelectronic materials are in high demand due to the rise in computer, tablet, smartphone, and other consumer electronics use. Due to client demand for more complicated semiconductors and electronic components, manufacturers are offering more advanced and feature-rich products.
Additionally, the Internet of Things (IoT) has made smart device integration across all industries easier. Smart home and industrial applications have boosted demand for sensors, actuators, and other microelectronic components, which require specific materials. Upgraded semiconductor materials are needed for 5G technology rollout and adoption to increase data speeds and connection. This includes smartphone and device components, 5G base station materials, and antennas. Microelectronics materials are in more demand in the auto sector due to the shift to electric vehicles (EVs) and infotainment and ADAS systems.
Microelectronic materials are predicted to grow due to the introduction of new technologies like 5G and IoT, which require complex materials to meet their unique needs. 5G networks employ higher frequencies, requiring new materials with better conductivity and signal propagation. Gallium nitride (GaN) and gallium arsenide are used in 5G base stations and antennas.
Energy-efficient materials are needed for many Internet of Things devices. Microelectronic materials enable energy-efficient semiconductors and sensors that extend Internet of Things device battery life. Industrial and smart city IoT applications often integrate IoT with 5G. This integration requires materials that support effective sensor networks and high-speed wireless transmission. This boosts microelectronics material market income.
Segmental Analysis
The Microelectronics Material Market segmentation, based on application includes Packaging and Fabrication.
The Microelectronics Material Market segmentation, based on type, includes Elementary Material, Compound Material, and Other.
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Regional Overview
North American microelectronics materials will dominate this market. The growing global market for microelectronic materials, driven by IoT utilization in many industries and applications. The performance and versatility of microelectronics materials should help the electronics component business succeed.
The Europe microelectronics material market is the second-largest due to the presence of semiconductor manufacturing facilities in various nations. Multinational firms have invested heavily in these countries due to their growing semiconductor industry importance. The German microelectronics material market had the biggest share, and the UK market was the fastest expanding in Europe.
Asia-Pacific Microelectronics Material Market to expand quickest from 2023 to 2032. China and India are electronics hubs due to their high manufacturing and electrical component production rates. Due to tight performance, quality, and delivery requirements, the region needs more microelectronic materials. Local manufacturers install gear to package electronics and microelectronics. China has the largest microelectronics material market, and India had the fastest growth in Asia-Pacific.
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