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Beauty Devices Market By Product (Hair Removal Devices, Acne Devices, Skin Derma Rollers, Hair Growth Devices, Cellulite Reduction Devices, Oxygen & Streamer Devices, Light/LED Therapy & Photorejuvenation Devices , Cleansing Devices, Others), By Application (Commercial, Domestic, Others), By Technology (Lasers Invigorate, Wearable Devices, Others), By End-user (Beauty Centers & Spas, Home-use, Dermatology Centers, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 – 2027

A growing electric car market is expected to drive market growth in the forecasted period.

The rapid development in the integration of the semiconductor industry has created a high demand for silicon wafers as a basic material for producing ICs. The exponential growth of consumer electronics products such as smartphones, tablets, and smart wearables are the end products where ICs are assembled. This industry has kept the demand for silicon wafers high. A silicon wafer is a thin slice of crystalline silicon that is mostly used in our electronics products. Its natural abundance and semiconductor properties, such as being neither a very strong conductor nor a very strong insulator of electricity, made it the semiconductor industry's preferred choice for making wafers when compared to competitor semiconductors such as germanium.

Secondly, there is a growing demand for electric cars across the world. Rising gasoline prices and their negative environmental impact have influenced buyers to opt for electric vehicles. Moreover, governments and NGOs are also forcing automobile manufacturers to switch to electric vehicles to reduce air pollution. Governments are also supporting the automotive industry as well as buyers by providing subsidies. Supplementarily, technological advancements in self-driving cars include several chips, such as LiDAR, radar, a camera, and other sensors that can sense the surrounding environment and are assembled into the system. Major automotive companies like Tesla, Toyota, Volvo, Nissan, Baidu, and Google are continually investing in driverless car development, considering the market potential in the long run. The most important components for running an electric or driverless car are silicon wafer-based chips, ICs, and sensors.

This new development in the automotive industry is expected to further the growth of the silicon wafer market during the forecasted period. The global silicon wafer market was worth $6.77 billion in 2018 and is expected to reach $12.67 billion by 2027, growing at a 7.3% CAGR from 2019 to 2027.

Market Snapshot

End-user segment analysis

Consumer electronics segment dominating the market

Based on end-user, the consumer electronics segment captured the highest share of the global silicon wafer market in 2018. According to the Consumer Technology Association (CTA), a U.S.-based organization representing more than 2,200 consumer technology companies in the United States, consumer sales in the United States will exceed $400 billion in 2019, growing 2.2% year on year. The consumer electronics sector is experiencing the launch of emerging technologies such as smart homes, smart speakers, home robots, and smartwatches. With the introduction of 5G technology, the Internet of Things, and enhanced mobile broadband services, the demand for high-performance RAM ICs is expected to grow exponentially, resulting in high demand for silicon wafers globally. This, in turn, will benefit the global silicon wafer market.

Regional Analysis

Asia Pacific dominating the global market by region

The global silicon wafer market was dominated by Asia Pacific, which accounted for more than 35% of the market share in 2018. Robust demand from the semiconductor industries of China, South Korea, and Japan has kept the region leading in the global market. Furthermore, India's "Make in India" campaign to establish chip fabrication units in the country has also added advantage to the regional market. Silicon wafers are in high demand due to China's growing production of electric vehicles and smartphone manufacturing hubs.

According to the "2018 China Semiconductor Silicon Wafer Outlook report," wafer production growth is the fastest in the world. Further, strong domestic demand and favorable government policies have added advantages to the growth of fabrication units in the country. It is forecasted in the above report that China can produce 4 million wafers per month by 2020.

Technological advancement is keeping the market competitive.

The global silicon wafer market is competitive by nature. Prominent players operating in the silicon wafer market are adopting strategies such as partnerships with other companies and the acquisition of smaller players to increase their production capacity and geographical reach. Following is the list of players included in the published reports.

List of Companies Covered:

  • Elkem ASA
  • Shin-Etsu Chemical Co., Ltd.
  • Addison Engineering, Inc.
  • Siltronic AG
  • Okmetic
  • SUMCO CORPORATION
  • Global Wafers Japan Co. Ltd.
  • Nanoshel LLC
  • PV Crystalox plc
  • LDK Solar High-Tech Co., Ltd.
  • REC Solar Holdings AS
  • Tokuyama Corporation
  • Silicon Materials, Inc.
  • Others

Key Industry Development:

  • In May 2019, Okmetic announced an investment of €100 million to double the production capacity of its SOI wafers in its Vantaa plant by 2H20. The company is experiencing growing demand for its SOI wafers due to an increased amount of advanced MEMS and power components used in the electronics industry. With its increased production capacity, the company expected to fulfill its customers' demands.
  • In January 2019, REC Group collaborated with Sol Distribution Pty Ltd. to distribute the company's high-performance solar cells across Australia. The collaboration will improve the market penetration of solar cells across the residential and commercial segments. With this agreement, REC Group expects to improve its market share in the Australian solar cell market.

Periods of History and Forecast

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Market Segmentation

The current report also encompasses qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better understanding of the global silicon wafer market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.

Key questions are answered in this report.

  • What was the size of the silicon wafer market in 2018, and what is the forecast up to 2027?
  • What are the key factors driving the global silicon wafer market?
  • What are the key market trends and high-growth opportunities observed in the silicon wafer market?
  • Which is the largest regional market for silicon wafers?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market's growth? Why?
  • Which players are leading the silicon wafer market?
  • What are the key strategies adopted by the leading players operating in the market?

Frequently Asked Questions:

The market for Beauty Devices Market is expected to reach US$ 12.67 million by 2027.

The Beauty Devices Market is expected to see significant CAGR growth over the coming years, at 18.8%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Shin-Etsu Chemical Co., Ltd., Addison Engineering, Inc., SUMCO CORPORATION, Global Wafers Japan Co. Ltd., LDK Solar High-Tech Co., Ltd. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Apr 2020
Category:  Consumer Goods
Report ID:   60245
Report Format:   PDF
Pages:   120
Rating:    4.2 (56)
Delivery Time: 24 Hours to 48 Hours   
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