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Indium Phosphide Market by Type (Industrial Grade, Electronics Grade)
The Global Indium Phosphide Market size is expected to reach a valuation of US$ 5.1 billion in 2023. Sales in the market are predicted to surge at a CAGR of 5.6% in the next ten years.
The market for indium phosphide is predicted to create an absolute dollar opportunity worth US$ 3.7 billion in the forecast period (2023 to 2033). Persistence Market Research (PMR) predicts the market to reach US$ 8.8 billion by 2033.
Modulators, photodetectors, and lasers are made with indium phosphide. It is capable of producing laser signals. It can convert them into electronic form and then identify them.
They are utilized for data centers and business networks. They are also used in optical fiber connections across vast distances. LTE, 5G, and 3G base stations utilize indium phosphides.
They find applications in satellite communication. Indium phosphide wafers will be used in the production of consumer wearables, Datacom, and 3D sensing. Expansion of the telecommunications industry would drive demand.
Throughout the projected period, this is anticipated to fuel the market. Few significant uses of indium phosphide include fiber optic lasers, data center connection, and silicon photonics. 5G communications, detectors, switches, and radio frequency amplifiers also use these.
Infrared thermal imaging in healthcare often makes use of indium phosphide. Optoelectronic devices are electronic components that recognize and control light. Thermal or visible energy is transformed from electrical information and vice versa. It is used in optical fiber communication and photovoltaic power. It is also used to control and observe circuits.
Injection laser diodes and quantum cascade lasers use optoelectronic components. Safety, packaging, and digital imaging applications all use image sensors.
Semiconductor silicon wafer is the primary element in various microelectronic devices. It is the cornerstone of the electronics sector. These components will be used in numerous products.
Developments in technological landscape, electronic mobility, and digitalization would aid demand. Demand for small-sized devices has also increased need for high functionality from a single device. It will raise the cost of the silicon wafer.
|Indium Phosphide Market Estimated Size (2023E)||US$ 5.1 billion|
|Projected Market Valuation (2033F)||US$ 8.8 billion|
|Value-based CAGR (2023 to 2033)||5.6%|
|USA Value-based CAGR (2023 to 2033)||4.5%|
Persistence Market Research predicts indium phosphide sales to exhibit 5.6% CAGR in the forecast period. It showcased a steady growth at a 3.3% CAGR between 2018 and 2022. Indium iodide and white phosphorus react at a temperature of 400 °C. It creates indium phosphide wafers.
Indium phosphide wafers can be created by integrating clean components under extreme pressure and heat. Another method of producing wafers is through thermal breakdown of the chemical.
It is created from trialkyl indium and phosphine. A multi-stage process is employed to create indium phosphide wafers of superior quality. Indium phosphide is widely utilized in high-speed fiber-optic communication. It can emit and detect light at wavelengths greater than 1000 nm. Optoelectronics makes use of it.
Need for wireless communication and miniaturization would propel indium phosphide formula demand. Demand for storage devices and data transmission would also augment sales.
|Historical CAGR (2018 to 2022)||3.3%|
|Forecast CAGR (2023 to 2033)||5.6%|
|Absolute Dollar Opportunity (2023 to 2033)||US$ 3.7 billion|
North America Indium Phosphide Market would reach US$ 2.10 billion in 2023. It stood at US$ 2.04 billion in 2022. In 2033, it would reach US$ 3.63 billion.
Wearable technology is a growing trend in North America. It has the potential to be placed on any part of the body. It adapts electronics to everyday activities.
It also handles changing lifestyles. Demand for wearable technology is high in North America. It is due to its ability to offer data exchange possibilities among a device and a network. It can also connect to the web.
Urbanization rates are increasing in North America. It has pushed demand for cutting-edge, aesthetically pleasing items. These can better meet time management and functionality needs in one device.
Enormous millennial population has embraced smartwatches. This is due to their increased purchasing power. They want to spend on things for tracking their typical work hours and luxurious standards.
Why is the USA Showcasing High Indium Phosphide Sales?
Persistence Market Research predicts the USA to exhibit 4.5% CAGR from 2023 to 2033. The indium phosphide wafers market would reach a valuation of US$ 2.8 billion by 2033. It would also create an incremental opportunity of US$ 1.0 billion in the next ten years.
In November 2022, Semiconductor Industry Association and Semiconductor Research Association awarded Dr. Mark Rodwell. He received the University Research Award. He developed millimeter and sub-millimeter wave indium phosphide-heterojunction bipolar transistors.
He is a professor at the University of California. Such exemplary works in research and development would boost demand in the USA.
Will the United Kingdom Exhibit Astonishing Indium Phosphide Demand?
The United Kingdom indium phosphide compound semiconductor market would generate considerable shares. It would exhibit 4.8% CAGR from 2023 to 2033. Persistence Market Research expects a valuation of US$ 442.8 million for the country by 2033.
Wafer Technology Limited offers indium phosphide wafers. It is based in the United Kingdom. It provides indium phosphide wafers in various forms.
A few forms include iron dopant, tin dopant, Sulphur dopant and zinc dopant. Hence, presence of leading companies would bode well for the country’s market.
How are China-based Indium Phosphide Manufacturers Faring?
China indium phosphide market would reach US$ 753.4 million by 2033. The report states that the country will exhibit a CAGR of 6.6% in the forecast period. It stood at 4.7% CAGR in the historical period.
Xiamen Powerway Advanced Material Co. Ltd provides indium phosphide wafers. Mobility of these wafers varies for different products. Undoped ones have a mobility greater than 3000 cm2/Vs. N type has greater than 1000.
P type has 80+/-10cm2/V.s. Mobility and semi-insulating one has greater than 2000cm2/Vs. Launch of new products by China-based companies would drive InP wafers sales.
How are Japan-based Indium Phosphide Suppliers Expanding Sales?
Japan indium phosphide wafer market would expand at 5.0% CAGR in the estimated time frame. It would reach US$ 636.5 million by 2033. In the historical period, it exhibited 2.5% CAGR.
Showa Denko Materials Company Limited manufactures indium phosphide wafers. These are epitaxial wafers. They are formed by multi-element-based films of indium gallium arsenide. They also include indium gallium arsenide phosphide. The Japan-based company manufactures and sells epitaxial wafers customized to its clients.
Which is the Leading Application of Indium Phosphide across the Globe?
Based on application, the optoelectronic devices segment would dominate the global market. From 2023 to 2033, it would exhibit a CAGR of 5.2%. Persistence Market Research anticipated a CAGR of 3.1% during the historical period.
Gallium indium phosphide is used in nanowires. It acts as resonant tunneling diodes in solar cells made up of nanowires. Increasing demand for laser diodes for laser generation would augment demand. These are used in barcode readers, fiber optic communications, and DVD/Blu-ray players.
Few leading indium phosphide manufacturers are focusing on new product launches. Presence of large-scale manufacturers would help the market to expand. As per Persistence Market Research, the industry would showcase an intense competitive rivalry in the next ten years.
Few of the recent developments in the indium phosphide market are:
|Estimated Market Size (2023)||US$ 5.1 billion|
|Projected Market Valuation (2033)||US$ 8.8 billion|
|Value-based CAGR (2023 to 2033)||5.6%|
|Historical Data||2018 to 2022|
|Forecast Period||2023 to 2033|
|Key Countries Covered||
|Key Companies Profiled||
The global indium phosphide industry will be worth US$ 5.1 billion in 2023.
The global indium phosphide industry is projected to reach US$ 8.8 billion in 2033.
The indium phosphide industry exhibited 3.3% CAGR from 2018 to 2022.
The indium phosphide industry is projected to witness a CAGR of 5.6% from 2023 to 2033.
By type, the industrial grade indium phosphide would dominate by exhibiting 5.4% CAGR in the forecast period.
Optoelectronic devices are projected to witness a CAGR of 5.2% by 2033 and lead the global market.
Persistence Market Research estimates the USA indium phosphide industry to reach US$ 2.8 billion by 2033.
Sumitomo Electric Industries, AXT, JM Gallium, Showa Denko, II-VI Incorporated, and Semiconductor Wafer, Inc. are a few companies in the indium phosphide industry.
North America would remain at the forefront in the indium phosphide industry.