Silicon Wafer Reclaim Market to Hit US$ 2,639.20 Million By 2031 | Updated Insights
Silicon Wafer Reclaim Market is projected to register a CAGR of 16.4% during 2023-2031, due to its increasing demand from solar energy, consumer electronics, and automotive sectors among others, and major participants includes are Wafer World, SEIREN KST Corp., Noel Technologies, Pure Wafer, Optim Wafer Services, RS Technologies, NanoSILICON
New York, Oct. 20, 2023 (GLOBE NEWSWIRE) — As per the research report “Global Silicon Wafer Reclaim Market” published by Consegic Business Intelligence, the market was worth USD 683.97 Million in 2022, projected to grow by USD 780.59 Million in 2023, and is anticipated to reach over USD 2,639.20 Million by the year 2031, growing at a CAGR of 16.4%.
Silicon wafer reclaim involves the process of removing unwanted material from the wafer with a combination of dry and wet processes, and further polishing and cleaning the wafer for restoring the silicon surface to a usable grade. The benefits of silicon wafer reclaim including lower manufacturing costs, minimized waste generation, sustainable development, and others makes it ideal for deployment in consumer electronics, automotive, solar energy, telecommunication, and other sectors.
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The increasing utilization of silicon wafer reclaim in consumer electronics sector is among the key factors driving the market growth. Additionally, progressions in consumer electronics including AI (Artificial Intelligence) and IoT (Internet of Things), rising adoption of smartphones, computers, and other consumer devices, and growing demand for miniaturized circuits in consumer devices are vital factors driving the market demand for silicon wafer reclaim. For instance, according to GSM Association, the adoption of smartphones in Asia-Pacific region is projected to reach 83% by 2025, demonstrating an increase from 73% in 2021. Thus, the rising adoption of smartphones and other consumer devices is increasing the utilization of silicon wafer reclaim for fabrication of integrated circuits installed in consumer devices at a relatively lower cost, thereby, driving the growth of the market.
Additionally, the rising adoption of electric vehicles is projected to promote opportunities for the growth of the silicon wafer reclaim market. Silicon wafer reclaim plays a vital role in the production of integrated circuits used in various EV components including cameras, sensors, LiDAR systems, and other related electronic components. However, prevalence of stringent regulations and standards associated with silicon wafer reclaim is hindering the growth of the market.
|Report Attributes||Report Details|
|Market Size By 2031||USD 2,639.20 Million|
|Key Players||NanoSILICON Inc., NOVA Electronic Materials LLC, Wafer World Inc., SEIREN KST Corp., Noel Technologies Inc., Pure Wafer, Optim Wafer Services, RS Technologies Co. Ltd., Silicon Materials Inc., Phoenix Silicon International Corporation|
|By Diameter||100-200 mm and 201-300 mm|
|By Application||Integrated Circuits, Solar Cells, and Others|
|By End-User||Consumer Electronics, Automotive, Solar Energy, Telecommunication, and Others|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more|
|By Region||North America, Europe, Asia-Pacific, Latin America, Middle East & Africa|
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Silicon Wafer Reclaim Market Growth Drivers:
- Growing solar energy sector is driving the market growth.
- Rising demand for consumer electronics is spurring the market growth.
- Prevalence of stringent regulations and standards associated with silicon wafer reclaim is restraining the market growth.
- Rising adoption of electric vehicles is expected to promote potential opportunities for market growth.
Global Silicon Wafer Reclaim Market Segmentation Details:
Based on diameter, the 100-200 mm segment contributed the largest shares to the market growth in 2022. Factors including the rising demand for silicon wafers with 100-200 mm diameter range from various industries including automotive, consumer electronics, and solar energy among others is driving the growth of the 100-200 mm segment.
Based on application, the solar cells segment accounted for the maximum revenue share in the year 2022. Silicon wafer reclaim is primarily used in the production of solar cells for increasing its light absorption and improving the conversion efficiency of silicon solar cells. Additionally, factors including rising investments in solar energy sector, expansion of solar power plants along with increasing demand for economical solar cells are vital aspects boosting the growth of the solar cells segment.
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Based on end-user, the solar energy segment accounted for the maximum revenue share in the year 2022. Silicon wafer reclaim provides an eco-friendly method for fabrication of solar cells, which is a key determinant for driving its application in solar energy sector. Factors including the rising demand for renewable sources for power generation, prevalence of green energy targets, and government incentives and tax rebates for installation of solar panels are boosting the growth of the solar energy segment.
Based on region, North America region accounted for the largest revenue share in the year 2022. The growth of multiple sectors including solar energy, automotive, and others is driving the growth of silicon wafer reclaim market in the North American region. Further, growing investments in electric vehicles are projected to boost the market growth in North America during the forecast period.
Key Market Highlights
- Globally, silicon wafer reclaim market is divided based on the diameter into 100-200 mm and 201-300 mm.
- In the context of application, the market is classified into integrated circuits, solar cells, and others.
- In the context of end-user, the market is separated into consumer electronics, automotive, solar energy, telecommunication, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in silicon wafer reclaim market.
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List of Major Global Silicon Wafer Reclaim Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• NanoSILICON Inc.
• NOVA Electronic Materials LLC
• Wafer World Inc.
• SEIREN KST Corp.
• Noel Technologies Inc.
• Pure Wafer
• Optim Wafer Services
• RS Technologies Co. Ltd.
• Silicon Materials Inc.
• Phoenix Silicon International Corporation
Global Silicon Wafer Reclaim Market Segmentation:
- By Diameter
- 100-200 mm
- 201-300 mm
- By Application
- Integrated Circuits
- Solar Cells
- By End-User
- Consumer Electronics
- Solar Energy
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Key Questions Covered in the Silicon Wafer Reclaim Market Report
- What is silicon wafer reclaim?
- Silicon wafer reclaim refers to silicon wafer that has been processed, stripped, polished, and cleaned in order to reprocess it for a different application. The wafer silicon reclaiming process involves transformation of a used wafer that has several layers of numerous materials into a useable qualification or test wafer at a relatively lower cost as compared to buying a new test wafer.
- What is the dominating segment in the silicon wafer reclaim market by end user?
- In 2022, the solar energy segment accounted for the highest market share of 39.21% in the overall silicon wafer reclaim market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the silicon wafer reclaim growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing demand for silicon wafer reclaim from solar energy, automotive, and other sectors is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries including consumer electronics, telecommunication, and others.
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