Gallium nitride (GaN) is a mechanically stable wide bandgap (WBG) semiconductor, attributed to its hard hexagonal crystal structure. It has rapid switching speed, high efficiency, high thermal conductivity, and high reliability. Among various types of semiconductors such as silicon carbide and silicon, gallium is highly preferred by various end-user industries such as aerospace and defense industries.
Gallium is applicable across different products such as LEDs, solar cells, integrated circuits, laser diodes, and others. It is also used in various research and development activities for specialty alloys. The rapidly growing electronics sector across the world especially in the developing nations of India and China is a prime factor augmenting the growth of the global gallium market.
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The report on the global gallium market is based on an elaborate overview of the market and its prime growth trajectories. It discusses the growth drivers, restraints, challenges, and upcoming growth opportunities. The report also discusses the impact of the novel COVID19 pandemic on this market and how can manufacturers benefit from this situation and generate as much revenue as possible within the forecast period. The report also highlights the table of segment for the food and beverage disinfection market and names the leading segment with factors attributing to its growth.
Gallium Market - Nature of Market Competition
Some of the key strategies adopted by players of the global gallium market include merger and acquisition, collaborations with competitors, product launches, and others. The presence of multiple players has led the overall market landscape to be highly fragmented. Some players are also investing heavily in research and development strategies to obtain better revenues in the years to come.
Some of the key players of the global gallium market include:
- Zhuzhou Keneng New Material Co., Ltd. Inc.
- DOWA Electronics Materials Co., Ltd.
- Nanjing Jinmei Gallium Co., Ltd.
- 5N Plus
- Guangdong Xianjian Materials Co., Ltd.
- Umicore N.V.
- Indium Corporation
- American Elements
- Nippon Rare Metal, Inc.
- Fortis Metals
- Others
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Gallium Market – Drivers
The increase in demand for gallium metal in the electronics industry is also expected to boost the growth of this market. Gallium is used extensively for the manufacturing of wafers and chips across various sectors such as photovoltaic, semiconductors, microelectronics, and others. The key reason attributing to the high use of gallium across such products mentioned above includes its amazing qualities such as wettability and electrical conductivity.
On the contrary, the continuously changing prices of gallium in various landscapes might create a challenging environment for the market in the coming years. Besides this, there are various government issues regarding the recycling of gallium compounds found in multiple electronic products. This may also cause hindrance to the overall growth of the market in the forecast period. Nevertheless, the rise in the adoption rate of Artificial Intelligence (AI) and IoT devices for the manufacturing of microelectronics and semiconductor devices are also expected to aid in the expansion of the global gallium market in the forecast period.
Gallium Market – Geographical Segmentation
Region-wise, the market witnessed significant growth from Europe and North America in the year 2017. Asia Pacific is expected to rise at a significant rate in the forecast period on account of the rapid industrialization in the developing nations. On the other side, the growing need for gallium has propelled the growth rate of photovoltaic cell fabrication in plants and semiconductor and their production capacities in Asia Pacific nations such as India, China, Japan, and South Korea.
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Besides this, the rapidly growing electronics industry as a result of labor costs at cheap rates and the availability of raw materials at cost-efficient prices in the region are likely to help this region emerge as the fastest-growing segment as well during the forecast period.
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