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Market Size – USD 36.96 Billion in 2019, Market Growth - CAGR of 7.6%

NEW YORK CITY, NEW YORK, USA, August 19, 2022 /EINPresswire.com/ -- 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.

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Top Profiled in the Compound Semiconductor Materials Market Report: • OSRAM • Qorvo • Samsung Electronics • Air Products & Chemicals Inc • Nichia Corporation • Sumitomo Chemical Company Ltd • Cree Inc., Skyworks Solutions • GaN Systems • Mitsubishi Electric

Market Segmentation: 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

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Key Takeaways of the Compound Semiconductor Materials Market Report: • A comprehensive overview of the global Compound Semiconductor Materials industry. • Accurate market projections in terms of market size, share, and volume. • Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues. • Deep-dive analysis of the upcoming market trends. • Qualitative and quantitative analyses of the Compound Semiconductor Materials Market. • Elaborate study of the leading regional markets in the Compound Semiconductor Materials Market. • Complete overview of the market’s competitive landscape. • Brief look at the company profiles and portfolios.

Key Regional Markets Covered in the Report: • North America o U.S. o Canada o Mexico

• Europe o Russia o U.K. o Germany o France o BENELUX o Rest of Europe

• Asia Pacific o China o Japan o India o South Korea o Rest of Asia Pacific

• Latin America o Brazil o Rest of Latin America

• Middle East & Africa o Saudi Arabia o U.A.E. o Israel o Rest of Middle East & Africa

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About Reports and Data Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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