Silicon Epitaxial Wafer Market By Type (Homoepitaxial Epitaxial Wafer, Heteroepitaxial Epitaxial Wafer), By Applications (Power Electronics, MEMS-Based Devices, RF Electronics, Photonics, Others), By Wafer Size (6 Inch, 8 Inch, 12 Inch, and Others), By End User (Consumer Electronics, Automotive, Healthcare, Aerospace and Defense, and Others), and Geography 

Silicon Epitaxial Wafer Market was valued at USD 3,295.6 million in 2022 and is expected to grow at a CAGR 4.5%  from 2023 to 2029. A silicone epitaxial wafer is a single-crystalline silicone wafer made up of semiconducting material made by epitaxial used in various applications such as photonics, microelectronics, photovoltaics. The growing demand for smartphones and other electronic devices is expected to drive the silicone epitaxial wafer market growth. For instance, the silicone epitaxial wafers are used in the production of microprocessors, memory devices, and power devices which are used in smartphones, laptops, and other electronic devices. In addition, the increasing adoption of electric vehicles and renewable energy sources are expected to boost the growth of silicon epitaxial wafers market. For instance, government across many countries are launching new solar energy mega projects, contributing to the growth of silicon epitaxial wafer market. Furthermore, growing demand for high-performance electronics devices is expected to have a positive impact on the market growth as these wafers have high thermal conductivity, low power consumption, and high radiation resistance. However, high production cost associated with manufacturing of silicon epitaxial wafers. For instance, in April 2019 Shin-Etsu Chemical Co. announced a price hike on all silicone wafer products to rise from 10% to 20%. In addition to that, strict government regulations regarding the use of hazardous chemicals in the production of these wafers are expected to hinder the market growth over the forecast period. Moreover, introduction of new technologies and development of new applications are expected to open significant opportunities to market players in this growth of silicon epitaxial wafers market. For instance, emerging applications such as artificial intelligence, internet of things, and 5G require high-performance semiconductor devices that needs silicon epitaxial wafers.  

Silicon Epitaxial Wafer Market Key Developments:
In June 2022, Global Wafers Taiwan Co Ltd invested USD 5 billion in a new plant which manufactures 300-millimeter silicon wafers used in semiconductors in Texas.