Gallium Oxide Substrate Market
Gallium Oxide Substrate Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Gallium Oxide Substrate Market is segmented by Dopant, Application, and by Region. KDMI analyst foresees market revenue to cross USD 10.2 Million by 2032 by growing with a CAGR of 8.9% during 2024-2032.
Gallium Oxide Substrate Market Highlights
The global gallium oxide substrate market is expected to cross a value of USD 10.2 million by the end of 2032. The market was valued at USD 4.9 million in 2023 and is expected to expand at a CAGR of 8.9 % between 2024-2032.
- Over the mid-term, the rise in demand for power electronics is the primary factor anticipated to drive the global gallium oxide substrate market.
- The high production cost is a major factor to challenge the market growth.
- The Asia Pacific gallium oxide substrate market is projected to dominate the global market.
Gallium Oxide Substrate Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 4.9 Million |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 10.2 Million |
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CAGR Value |
8.9% |
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Gallium Oxide Substrate Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Gallium Oxide Substrate Market Segmentation |
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Gallium Oxide Substrate Market Key Players |
Chalco, Liche Opto Co., Ltd, NANJING JINMEI GALLIUM CO., LTD., Nanoshell LLC, Neo Performance Materials, Nippon Rare Metal, Inc.,Super Conductor Materials, Inc.,Saint-Gobain, Vital Materials Co.,Tamura Corporation, Novel Crystal Technology, Kyma Technologies Inc. and others. |
Gallium Oxide Substrate Market Outlook
The material used as a base or foundation for the growth of the gallium oxide semiconductor devices is known as gallium oxide (Ga2O3) substrate. These substrates typically provide a crystalline structure onto which gallium oxide semiconductor layers can be deposited.
The increasing demand for power electronics is one of the primary factors according to our experts at KD Market Insights, which is expected to drive the growth of the global gallium oxide substrate market. The revenue generated from power electronics is expected to touch USD 53 billion by 2032, registering a CAGR of around 5% during the forecast period. Power electronic devices such as high-power transistors, diodes, and integrated circuits often require superior thermal conductivity for which gallium oxide substrates play a major role. The chemical also increases the electrical performance of power electronics. Chalco, Liche Opto Co., Ltd, NANJING JINMEI GALLIUM CO., LTD. are some of the significant parties in the global market for gallium oxide substrate
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Gallium Oxide Substrate Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global gallium oxide substrate market are:
- Rapid Advancements in Semiconductor Manufacturing: The semiconductor industry around the globe is growing at a massive pace and so are the technologies associated with it. Our researchers predict that the revenue generated from the semiconductor industry around the globe would touch near to USD 1520 billion, registering a CAGR of around 12% during the forecast period. The manufacturing techniques in the semiconductor industry, such as epitaxial growth and substrate processing are witnessing continuous advancements, allow production of high-quality gallium oxide substrates that provides enhanced performance characteristics. These advancements, therefore, create numerous opportunities for market growth.
- Increasing Adoption of Gallium Oxide in Military and Aerospace Applications: Backed by the increasing budget set for military expenditure by the government of nations globally, the demand for advanced military and aerospace equipment are increasing. These sectors often require substrates that provide high breakdown voltage, possesses wide bandgap, and have radiation resistance properties, which is offered by gallium oxide substrates. Hence, the increasing applications of gallium oxide substrates in the military and aerospace sector is expected to drive the market growth.
Which Probable Factors Could Hamper the Growing Gallium Oxide Substrate Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of gallium oxide substrate are:
- High Production Costs: The production costs of gallium oxide substrate are usually very high as the manufacturing process involves complex fabrication processes and also requires high-purity raw materials that comes on a higher price. This cost factor is therefore expected to lower the demand for the chemical product, and in turn, hamper the market growth.
- Concern for Limited Availability of High-Quality Substrates: The production of gallium oxide substrates with the required crystalline quality and material purity can be challenging, and hence, the unavailability of such high-quality substrates hampers the scalability of manufacturing the chemical product, thereby restricting market growth.
How is the Global Gallium Oxide Substrate Market Segmented?
Our experts at KD Market Insights have segmented the global gallium oxide substrate market as:
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By Dopant |
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By Application |
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By Region |
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What are the Probable Factors Influencing the Asia Pacific Gallium Oxide Substrate Market Forecast?
The Asia Pacific gallium oxide substrate market is majorly driven by the presence of a strong semiconductor infrastructure in the region, especially in nations, such as China, Taiwan, and Korea, which manufactures high-power electronics to be used in the automotive, consumer electronics, and renewable energy applications. Besides this, the manufacturers in the region manufacturing gallium oxide substrate are rapidly focusing on leveraging the unique properties of the chemical compound for use in UV photodetectors, sensors, and optoelectronic devices among others, which is also expected to contribute to the market growth in the region.
As per our analysts at KD Market Insights, the following five players lead the Asia Pacific gallium oxide substrate market growth:
- Mitsubishi Chemical Corporation
- NGK Insulators, Ltd.
- Sumitomo Electric Industries, Ltd.
- Nippon Mining & Metals Co., Ltd.
- Hitachi Metals, Ltd.
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Key Countries to Watch for in Asia Pacific Gallium Oxide Substrate Market |
Key Insights |
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China Gallium Oxide Substrate Market to Register the Largest Regional Market Share |
USD 0.6 Million |
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Japan Gallium Oxide Substrate Market to Grow with the Highest CAGR During 2024-2032 |
9.2% |
Which Key Players Top the Global Gallium Oxide Substrate Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global gallium oxide substrate market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with gallium oxide substrate market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global gallium oxide substrate market share:
- Chalco
- Liche Opto Co., Ltd
- NANJING JINMEI GALLIUM CO., LTD.
- Nanoshell LLC
- Neo Performance Materials
- Nippon Rare Metal, Inc.
- Super Conductor Materials, Inc.
- Saint-Gobain
- Vital Materials Co.
- Tamura Corporation
- Novel Crystal Technology
- Kyma Technologies Inc.
What are the Recent Developments Observed in the Gallium Oxide Substrate Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global gallium oxide substrate market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Mitsubishi Electric Corporation stated that it has invested in Novel Crystal Technology, Inc. which specializes in developing gallium oxide wafers for advanced energy-saving power semiconductors.
Further, DENSO partnered with FLOSFIA for generating next-generation gallium oxide power semiconductor devices for EVs.
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- Publication date: 8th April 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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