According to a report published by Grand View Research, Inc.; the silicon wafer reclaim market is expected to reach a valuation of around USD 577.3 million by 2024.
Factors such as increasing adoption of sustainable energy sources and supportive government efforts such as supportive regulations and subsidies can propel the market during the forecast period (2013 to 2024).
Increasing use of the product in integrated circuits, which are used in devices such as personal computers, laptops, and smartphones is expected to drive the market growth. Increasing manufacturing and high adoption of electronic devices has increased the volume of electronic waste. This burgeoning e-waste has led to high availability of raw material, which will create more opportunities for reclaim companies to carried out recycling operations. Growing worries regarding the unsustainable consumption of silicon is also expected to boost the recycling activities. Adoption of reclaim material in consumer industries will drive the market growth.
Full Research Report On Silicon Wafer Reclaim Market Analysis: www.grandviewresearch.com/industry-analysis/silicon-wafer-reclaim-market
The market is also expected to grow due to presence of strict regulations regarding processing, packaging, transportation, disposal of harmful waste materials is likely to create positive outlook in the market.
Worldwide silicon wafer reclaim market can be segmented on the basis of product, application, and region.
Based on product, the market can be classified into 150mm, 200mm, 300mm, and, and others. In 2016, the 300 mm segment reported as the major segment and estimated for 69.2% of overall market. The segment is expected to register CAGR of 3.8% during 2013 to 2024 due to its better performance including grater conductivity owing to its large dimensions.
As per application, the market can be split into solar panels, integrated circuits, and others.
The solar panels segment is considered as the major segment. Since, the industry is mainly driven by increasing demand for solar PV as these wafers are the important component solar photovoltaic systems. High demand for solar PV due to decreasing equipment prices and increasing consumers awareness can drive the dement growth.
In 2016, the integrated circuits segment accounted for 37.7% of the total revenue. These wafers are extensively used in integrated circuits and reclaimed products has high demand due to its lower cost as compared to virgin wafers.
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Geographically, the market can be divided into North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa.
Rise in volume of e-waste along with growth in recycling activities mainly in Europe and North America are expected to support the market growth. Various wafer consumers are focusing on utilization of reclaim material and reducing dependence on virgin material in order to enable sustainable solutions to thriving electronic industry. This is expected to boost the market.
In Europe, German semiconductor companies are remains on top position in terms of revenue despite of strong competition in the region. In addition, growing applications of reclaimed wafers in automotive industry is also likely to support the market growth in this region.
The U.S is anticipated to display substantial growth in the years to come on account of increasing applications in solar panels, integrated circuits, and other electronic devices such as televisions, digital camera, and personal computers, among the others. Ongoing solar projects in this country is likely to create more opportunities in the market.
Asia Pacific is likely to expand with a CAGR of 3.9% during the forecast period due to high availability of raw material with low reclamation cost. The market in Taiwan and Japan are highly intense due to low production and less labor cost in terms of reclaim process in these countries. Additionally, the reclaimed wafers can be differentiated on the type of reclaim process. Since companies have their own patented reclamation techniques. Significant industrial growth and technological developments in China is the major driving factor for the regional as well as overall market growth.
Some of the leading companies operating in the market include Silicon Materials Inc.; Kemi Silicon Inc.; Nano Silicon Inc.; Noel Technologies; and Silicon Quest International.
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