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Gallium Market

Market Study on Gallium: Rising EV Sales to Bode Well for Gallium Suppliers

Gallium Market Segmented By GaN Radio Frequency Devices, Opto-semiconductors, Power Semiconductors Product Type for Transistors, Diodes, Rectifiers, Power ICs Components

Gallium Market Outlook (2022-2032)

The global gallium market is likely to grow from a valuation of US$ 1.9 Bn in 2022 to US$ 17 Bn by the end of 2032. As projected by Persistence Market Research, demand for gallium (GaN) is expected to surge at a CAGR of 24.5% through 2032.

Based on product type, opto-semiconductors accounted for 35.1% share of the market revenue in 2021. This is mainly due to the growing use of opto-semiconductors in many devices such as optoelectronics, lasers, photodiodes, solar cells, and LEDs.

Gallium Market Size (2022E)

US$ 1.9 Bn

Projected Sales of Gallium (2032F)

US$ 17 Bn

Market Growth Rate (2022-2032)

24.5% CAGR

Share of ICT in Market (2021A)

20.2%

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Gallium Overview

Gallium is a soft silvery metal and is liquid at room temperature. During bauxite processing, caustic liquor is generated, and gallium is extracted from this as a by-product in impure form. The impure form is further refined to get pure gallium known as 6N Gallium. In some cases, it is recovered as a by-product from zinc processing. It is generally used in compound form, either as gallium nitride (GaN) or gallium arsenide (GaAs). These two compounds account for the major consumption of gallium worldwide.

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Key Gallium Manufacturers

Some of the key providers of gallium are GEO Gallium, Aluminium Corp of China Ltd, and Nalco, among others.

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Market Research Methodology

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Growing Count of Electronic Vehicles to Stimulate Gallium Application

There is a noticeable increase in the number of electronic vehicles across the globe that further drives growth avenues in the gallium market. This growth is attributed to the capacities of GaN that enable automakers to enhance the driving experience, increase power density, improve cost efficiency, and reduce vehicle charging time.

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Increased Use of Gallium in Electronics Sector

Gallium is widely used in the electronics sector, especially in photodetectors, solar panels, and LEDs. Furthermore, gallium is used in many applications; for example, solar cells, integrated circuits, and laser diodes. The growing use of gallium in the electronics sector is propelling sales opportunities in the market.

A growing number of R&D activities for specialty alloys will also increase the use of gallium. The major opportunity for the industry is the rapid growth in the electronics industry in India and China.

Constant Fluctuations in Gallium Prices

The prices of gallium are not fixed. This constant fluctuation in GaN prices is likely to create issues and restrain market growth. Moreover, some issues related to the recycling of gallium compounds that are used in several electronic products are also likely to limit expansion opportunities in the market over the coming years.

High Demand for Electronic Consumer Goods Driving GaN Consumption in North America

North America is estimated to hold the leading position in the global gallium market in the years to come. There has been a significant increase in the demand for gallium in the region due to rising sales of electronic consumer goods. Moreover, manufacturing other alloys and biomedical applications of gallium are also likely to serve as pivotal factors contributing to the sales avenues in the market.

European countries are predicted to see stable demand for gallium in the years ahead. The increasing demand from the semiconductor industry for gallium is anticipated to boost sales opportunities in South Asia & Pacific and East Asia.

Recent Industry Development

  • Efficient Power Conversion Corporation, in February 2021, launched EPC9157. It comes with an integration of Renesas ISL 81806 with EPC2218 eGAN for the achievement of more than 90% of effectiveness.

Gallium Industry Report Scope

Attribute

Details

Forecast period

2022-2032

Historical data available for

2017-2021

Market analysis

USD million for value

Key regions covered

  • North America
  • Europe
  • Latin America
  • East Asia
  • The Middle East & Africa
  • South Asia & Pacific

Key countries covered

  • U.S.
  • Canada
  • the UK
  • Germany
  • France
  • Spain
  • Mexico
  • Italy
  • Japan
  • China
  • India
  • New Zealand
  • Malaysia
  • Australia
  • Thailand
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

Key market segments covered

  • Product
  • Component
  • Wafer Size
  • End Use
  • Region

Key companies profiled

  • GEO Gallium
  • Aluminium Corp of China Ltd.
  • Nalco

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Gallium Industry Research by Category

By Product Type:

  • GaN Radio Frequency Devices
  • Opto-semiconductors
  • Power Semiconductors

By Component:

  • Transistors
  • Diodes
  • Rectifiers
  • Power ICs
  • Others

By Wafer Size:

  • 2-inch
  • 4-inch
  • 6-inch
  • 8-inch

By End Use:

  • Automotive
  • Consumer Electronics
  • Defense & Aerospace
  • Healthcare
  • Industrial & Power
  • Information & Communication Technology
  • Others

By Region:

  • North America
  • Europe
  • Latin America
  • East Asia
  • The Middle East & Africa
  • South Asia & Pacific

- Companies Covered in This Report -

  • GEO Gallium
  • Aluminium Corp of China Ltd.
  • Nalco

- Frequently Asked Questions -

The global gallium market is anticipated to surge ahead at a CAGR of 24.5% through 2032.

The current valuation of the gallium industry is US$ 1.9 Bn.

The gallium market is likely to reach a valuation of US$ 17 Bn by 2032.

Opto-semiconductors accounted for 35.1% share of the market in 2021.

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