The global Compound Semiconductor Materials market is forecast to reach USD 66.66 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the telecommunications industries, where the materials are used for conventional microelectronics, which include digital integrated circuits and analog integrated circuits. Moreover, owing to its high temperature and radiation resistance, the material is used for coating engine components, rocket coatings, and jumpsuit surface coatings, making them suitable for a range of applications in the automobile and aerospace industries. However, shift in material prices, resulting in the need to investigate and implement alternative materials as a replacement for rising total running costs will hamper the market demand.

Within the periodic table, composite semiconductor materials consist of elements from more than two separate groups and can be in binary form, ternary form, or quaternary form, among others. Compound semiconductor materials offer a broader choice of bandwidth than elementary semiconductors like Si and Ge, plus higher electron mobility, wider band gap, and lower thermal noise than elemental semiconductors. It's also capable of generating microwave signals. Also, the fragile crystal structure relative to silicon and higher manufacturing costs associated with compound semiconductor devices is anticipated to impede the development of the market demand.

Optoelectronic devices and wireless technology majorly drive the market. Optoelectronic devices exhibit a high demand for semiconductor compounds. Increasing demand for smartphones and wearable devices has been the main driver in compound semiconductor development over the past few years. Compound semiconductor materials have properties that are useful in electronic devices and equipment such as high electron mobility, lower power consumption, and significant temperature limits. Compound semiconductor materials are also used in applications for light absorption, such as lasers and light-emitting diodes (LEDs). Further, these are used in various space applications where they are integrated with satellite-mounted solar cells because of high resistance to radiation and heat compounding. Materials of compound semiconductors are sensitive to magnetism and thus are used in sensing applications. Composite semiconductor materials are also used in storage devices for optical data.

The COVID-19 impact:

As the COVID-19 crisis grows, manufacturers are rapidly changing their practices and purchasing priorities to meet the demand of a pandemic that has reduced the need for market-based semiconductor materials. A sequence of both positive and negative shocks will arise over a few months, as producers and their vendors adapt to changing demands of customers. The export-dependent economies of many regions look vulnerable, with an unfortunate global situation. The global market is reshaped by the impact of this pandemic when certain manufacturers either close down or decrease their production because of a lack of downstream demand. While some are having their production suspended as a precautionary measure by the governments of their respective nations to combat the spread of the virus. For certain countries, consumers are centered on being more regional by looking at the magnitude of the epidemic and the consequent actions of the national authorities themselves. In these situations, business dynamics in Asia Pacific regions were very dynamic, weakening regularly, making stabilizing themselves difficult.

Key participants include OSRAM, Qorvo, Samsung Electronics, Air Products & Chemicals Inc., Nichia Corporation, Sumitomo Chemical Company Ltd., Cree Inc., Skyworks Solutions, GaN Systems, and Mitsubishi Electric, among others.

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Market Overview:

The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.

The Compound Semiconductor Materials Markethas been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Compound Semiconductor Materials Market.

Further key findings from the report suggest

• Based on type, Gallium Arsenide (GaAs) generated a revenue of USD 7.71 billion in 2019 and is expected to grow with a CAGR of 7.7% in the forecast period, owing to its superior fundamental characteristics, thereby utilized in the development of infrared light-emitting diodes, microwave frequency integrated circuits, solar cells, laser diodes, optical windows, and many other applications.
• The power semiconductors are expected to grow with a CAGR of 8.3% in the forecasted period, owing to its highly conductive and flexible properties, which can be used switch or rectifier in power electronics, headphone amplifier operating at high voltage direct current transmission lines, and many others.
• The Information & Communication Technology (ICT) sector is the major contributor to the market. The construction sector of the Asia Pacific region is the major shareholder of the market and held around 29.0% of the market in the year 2019 owing to a vast variety of applications in the integrated analog and digital circuits.
• The Asia Pacific dominated the market in 2019. Driving the market is the region's strong emphasis on cost-effective and advanced procedures implemented in the industry. The Asia Pacific area controlled approximately 59.0% of the market, followed by North America, which contains around 20.0% market in the year 2019.

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For the purpose of this report, Reports and Data have segmented into the global Compound Semiconductor Materials market on the basis of type, product, application, and region:

Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

• Gallium Nitride (GaN)
• Gallium Arsenide (GaAs)
• Gallium Phosphide (GaP)
• Indium Phosphide (InP)
• Silicon Carbide (SiC)
• Silicon Germanium (SiGe)
• Others

Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

• Power Semiconductor
• Transistors
• Integrated Circuits
• Diodes & Rectifiers
• Others

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

• Information & Communication Technology (ICT)
• Aerospace
• Energy
• Automotive
• Medical
• Consumer Electronics
• Others

Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

• North America
  • S
• Europe
  • K
  • France
• Asia Pacific
  • China
  • India
  • Japan
• MEA
• Latin America
  • Brazil

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Key Advantages of Compound Semiconductor Materials MarketReport:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Compound Semiconductor Materials industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Compound Semiconductor Materials Marketare quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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