Electronic grade silicon swiftly advancing in semiconductor industry

Electronic grade silicon is considered the backbone of modern microelectronics chips. Owing to high utilisation of electronic grade silicon in semiconductor production, the market has been experiencing steady growth.

Advancements of technology in electronic & electrical devices, deployment of 5G networks, and rising demand for electric vehicles are key drivers for the demand growth of electronic grade silicon.

As a domino effect of the pandemic, demand for modern electronics has increased rapidly. Humans are already living in a digital era where modern devices play a major role in their lives on a daily basis.

Despite the pandemic, the semiconductor industry was valued at $595bn in 2021, with a 27% increase in revenue from 2020. Demand strongly arose from the IT sector owing to change in the hybrid mode of working. Furthermore, as a result of energy policies, electronic vehicle demand surged, necessitating microelectronic chips containing electronic grade silicon.

Key Takeaways from Market Study

• The global electronic grade silicon market is expected to expand at a CAGR of 5.8% and reach $6.8bn by the end of 2032.
• The market’s growth rate was 4% CAGR for the period of 2017-2021.
• Under end use, micro-electronics lead the market and are amounted at $2.83bn in 2022.
• East Asia dominates the global electronic grade silicon market with 30.5% market share in 2021.
• CZ mono crystalline silicon is likely to hold 58.5% market share in 2022.
• Based on region, demand for electronic grade silicon is expected to increase at CAGRs of 5% and 4.6%, respectively, in East Asia and North America.

“Soaring demand for electronic grade silicon in IT & automotive sectors to aid market expansion globally,” says a Fact.MR analyst.

Competitive Landscape

Prominent electronic grade silicon manufacturers are SUMCO, Silicon Materials, Inc, REC Silicon ASA, OCI, GCL (Group) Holdings Co., Hemlock Semiconductor Operations LLC, Wacker, TBEA Co., Ltd, Daqo New Energy, Global Wafers, SK Siltronic, Tokuyama Corporation, and TW Solar.

Electronic grade silicon companies are employing cost-effective methodologies for electronic grade silicon production.

Companies are trying to enhance their production capacity to meet the surging demand. Also, an increased interest has been observed from the manufacturers’ side to enhance the efficiency of electronic grade silicon so that its thickness can be used, and less quantity is required for each integrated circuit.

Taiwan-based company Global Wafers plans to build a 300mm-silicon wafer factory in the US to address the global chip shortage issue and ongoing geopolitical concerns.

In July 2022, GCL Technology, a manufacturer of electronic grade silicon, announced to increase its production capacity to 100,000 tons of granular silicon Fab in Leshan.

Market Development

In a world where demand is outpacing supply, a manufacturer’s biggest challenge is to strengthen the supply chain. Most devices running on IOT & artificial intelligence require integrated chips processed through electronic grade silicon. Manufacturers are also focusing on technological upgradation for the efficient processing of large amount of data generated through AI & IOT.

In addition, market players are consistently investing in R&D and expanding their production capacity to meet the increasing demand.

Reduced operating costs while maintaining product quality is a key major factor looked upon by market players.

Get To Know More: https://www.factmr.com/report/electronic-grade-silicon-market