The global compound semiconductor materials market is expected to reflect a very healthy 7.2% CAGR through the end of the forecasting period in 2030. The ongoing global pandemic is projected to negatively impact the players in the compound semiconductor material industry. Logistics and packaging challenges are major concerns. In addition, the decline in demand from the consumer electronics industry will also limit short term growth.
"Sustained growth of industrialization and a major increase in data transfer applications are boosting the demand for compound semiconductor materials. These materials also find use in scientific applications, in the aerospace and protective clothing industries, aiding long-term growth," states the FMI report.
To Get Sample Copy of Report Visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12410
Compound Semiconductor Materials Market - Key Takeaways
Electronics and consumer appliance applications are gaining strong traction on the back of demand for silicon carbide and gallium arsenide semiconductors.
II-VI range of semiconductor materials are highly sought after for short-wave optoelectronic applications, owing to large-band gap characteristics.
Asia Pacific primarily led by China is a major market for compound semiconductor materials, with the presence of major production facilities and penetration into the manufacturing sector.
Compound Semiconductor Materials Market - Critical Driving Factors
Growing investments and favorable policies by governments in developing countries are positively influencing production of compound semiconductor materials.
Adoption of nanotechnology for the production of compound semiconductor materials, and resultant improvements in surface area contribute to market growth.
Compound Semiconductor Materials Market - Major Constraints
Growing competition from low-cost silicon carbide is reducing the growth prospects for other compound semiconductor materials.
Strict regulatory restrictions on the international trade of essential raw materials is challenging market growth.
The Anticipated Impact of Coronavirus
The compound semiconductor materials market is moderately impacted by the coronavirus pandemic. The outbreak has severely curtailed production activities in the electronics sector. In addition, the continuing effects of the US - China trade war will exacerbate the problem as China is a leading market for semiconductor material production. The suspension of activities in major tech companies will also limit short term demand for semiconductor chips and compound semiconductor materials. The market will witness a stronger resurgence towards 2021 with increasing relaxations on lockdown restrictions.
For More Details, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-12410
Prominent manufacturers in the compound semiconductor materials market include but are not limited to the Comptek Solutions Oy, IQE plc, Freiberger Compound Materials Gmbh, Sumitomo Electric Industries Ltd., Shin-Etsu Chemical Co. Ltd., Nichia Corp., Skyworks, Samsung, and Qorvo.
Compound semiconductor materials market players are working on strategic collaboration and acquisition strategies with the aim of gaining investments and widening their portfolios to meet evolving consumer needs.
For instance, II-VI Inc. has announced the acquisition of INNOViON and Ascatron for the development of vertically integrated silicon carbide electronics portfolio. Yield Engineering Systems Inc. has joined hands with Link Fab a service provider for semiconductor manufacturers, in terms of sales and service operations. Further, GaN Systems Inc. has collaborated with SPARX Group and received investment for compound semiconductor materials and components for vehicle electrification applications.
More About the Report
The FMI's market research report offers detailed insights on compound semiconductor materials market. The market is scrutinized on the basis of material (gallium arsenide, gallium nitride, indium phosphide, zinc selenide, silicon carbide, gallium phosphorus, aluminum gallium indium phosphide, and aluminum gallium arsenide), and application (laser, optical fiber, photovoltaic cells, optical devices, LED epitaxial wafers, power amplifiers, and others) across six key regions (North America, Latin America, Europe, South Asia & Pacific, East Asia, and Middle East and Africa).
Explore Extensive Coverage of FMI's Chemicals & Materials Landscape
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Release ID: 89012942