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.od.

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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.

Competitive Landscape:

Competitive landscape of global Compound Semiconductor Materials market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.

some leading companies operating in the global Compound Semiconductor Materials market:

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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The global market is further segmented into type and application:

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 analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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