Gallium Oxide Market

Gallium Oxide Market Overview

“The global Gallium Oxide market is expected to grow rapidly at a CAGR consequently, it will grow from its existing size of 43.65% from $1.18 million in 2023 to $42.56 million by 2030.”

The Powered Semiconductor: Gallium Oxide

In RF and power electronics, a novel compound semiconductor could outperform gallium nitride.

This study explores the creation of nanostructured -gallium oxide, a developing semiconductor with a large band gap and high critical field. It discusses various chemical and physical procedures used to create this oxide, its properties, and uses. The study also discusses the transformation of Ga2O3 polymorphs to -Ga2O3, the synthesis of thin films, nanostructures, and bulk gallium oxide, and the electrical and optical properties of -gallium oxide.

The global shift towards renewable energy sources, particularly solar power, is gaining momentum. However, collecting solar energy is challenging due to the band gap of the material used in cell construction. Ga2O3, with its larger band gap, offers a wider UV range for collection, making it a promising candidate for widespread use in solar cells and photovoltaic systems. Gallium oxide devices are n-type or unipolar, but p-type doping of -Ga2O3 could potentially enable deep UV-optoelectronic devices.

Gallium oxide, a chemical compound with a large bandgap of 4.8 eV, is ideal for electronic device manufacturers to enhance device efficiency and thickness. Its chemical formula is Ga2O3, with a 2:3 stoichiometric ratio.

The global market for high-voltage power electronics is expected to grow significantly over the next decade due to the expanding range of gallium oxide applications in the semiconductor sector and increasing demand from energy and automotive industries.

>>> Download Sample Report Now: https://marketreportservice.com/request-sample/gallium-oxide-market-54503

Market Dynamics

Growth Factors

Importance of gallium oxide in production innovation for new companies

The use of gallium oxide in specific industries is a relatively new concept globally, making gallium oxide technology in its early stages. To establish a market presence, new companies must invest heavily in research and development to create unique services that set them apart from competitors.

New gallium oxide companies may merge with established industry competitors to expand their business scale and maintain competitiveness.

• In July 2023, Mitsubishi Electric Corp., a leading Japanese provider of electronics, announced that it had taken an undisclosed equity stake in Novel Crystal Technology (NCT), a start-up founded in 2015 that sells gallium oxide wafers. Through this move, Mitsubishi Electric intended to accelerate the development of GaO power semiconductors by combining its expertise and the NCTs as well.

Trends

The demand for electronic devices is expected to increase

Gallium oxide technology is expected to become a significant player in the semiconductor industry, improving electric vehicle and solar power performance. It is used in various applications, including electronic devices, light-emitting diodes, and piezotronics. This broad range of applications is expected to drive the global growth of the gallium oxide market from 2023 to 2030.

The semiconductor industry demands density and smaller designs, and silicon has been used for large-scale manufacturing. However, concerns about scalability for diverse power circuits have hindered its adoption. Gallium oxide, a chemical compound with transparency and conductivity over the visible spectrum, has proven effective in these applications. This could lead to significant market expansion in the worldwide gallium oxide market, as it meets the industry's demands for density and smaller designs.

Market Segment Analysis

Where Will Gallium Oxide Demand Shine Brightly?

The global market is expected to be driven by power and high voltage devices.

Gallium oxide's high bandgap strength makes it attractive for power and high-voltage device manufacturing. It enhances performance in semiconductors and power devices, and advancements in the electronics world will broaden its application spectrum.

R&D investments are expected to boost the adoption of gallium oxide in electronics, particularly in high-voltage devices. The long-term demand for slimmer designs with higher power density in various industries will benefit gallium oxide suppliers.

Challenge

The global growth of the gallium oxide market is hindered by high production costs and the complexity of producing gallium oxide-based semiconductors, which are more expensive than silicon and require less investment than silicon-based power devices.

Silicon, being cheaper and more accessible than gallium, could be a viable alternative to gallium oxide in semiconductor device fabrication. However, large investments, high-end equipment installation, and new technology requirements could hinder the global market for gallium oxide semiconductor devices.

Competitive Landscape of the Gallium Oxide Market

• AGC Inc.
• Anhui Fitech Materials Co. Ltd.
• Ascensus Specialties LLC
• Central Drug House Pvt. Ltd.
• DISCO Corp.
• FLOSFIA Inc.
• Fomos Materials
• Kyma Technologies
• MATRIX SOLUTION
• Merck KGaA
• Neo Performance Materials Inc.
• Novel Crystal Technology Inc.
• Otto Chemie Pvt. Ltd.
• Shanghai Xinglu Chemical Technology Co. Ltd.
• Sino Santech Materials Technology Co. Ltd.
• Thermo Fisher Scientific Inc.
• Ultrananotech Pvt. Ltd.
• UrbanMines Tech Ltd.
• Vital Materials Co. Ltd.

Recent Developments in Gallium Oxide Market

Strem Chemicals was acquired by Ascensus Specialties, which specializes in sodium borohydride (NaBH4) production. The acquisition is aimed at expanding its share in the demanding, high-growth life sciences and specialties markets. Ascensus Specialties has expertise in borohydride, borane, and specialty alcoholates production. It has built its portfolio through the acquisitions of former Dow Chemical and BASF specialty chemicals businesses.

The company Kofax launched new cloud-based Epic Fast Healthcare Interoperability Resources (FHIR) API Bot, that aids to automate access to electronic health records (EHR) The company launched its product for Epic Systems, one of the largest EHR vendors in the U.S.

On January 2018, a prominent supplier of automotives, DENSO Corporation, has partnered with a tech startup of Kyoto University, FLOSFIA Inc. to come up with a device of next-generation power semiconductor. This device is anticipated to lessen weight, size, and cost of inverters utilized in electrified vehicles. It also assists in lessening energy loss. As such, the partnership is expected bring on innovative products in the market.

In , Flosfia, a company founded in 2011 and spun off from Kyoto University, Japan, announced its plans to start the production of power semiconductor devices for automotive applications that use gallium oxide. The company claims that these semiconductors can reduce electric vehicle power consumption by around 10% and power loss by around 70%.

Regional Insights

What Characterizes the Asia Pacific Region as a Bankable Market?

Increasing demand for robust semiconductor manufacturing and its impact on the power electronics industry

The Asia Pacific region, home to the world's largest semiconductor suppliers, China and Japan, is a major market for gallium oxide. As the world becomes more electric, the demand for chips and electronics is increasing. China, as the world's largest producer of semiconductors and chips, is a lucrative market for gallium oxide distributors. Currently, gallium oxide sales in the Asia Pacific region account for over half of the worldwide market revenue share. This highlights the importance of China's role in the global semiconductor industry and its potential to drive growth in the electric industry.

The growing focus on semiconductor manufacturing in Japan, India, and South Korea is expected to create new opportunities for suppliers of gallium oxide products like epiwafers, nanowires, thin films, RF devices, and sensors. The expansion of the oil and gas sector in the APAC region is also expected to increase demand for gas sensors, thereby increasing gallium oxide sales.

• The Chinese commerce ministry imposed new restrictions on the export of germanium and gallium from the country starting from 1st August 2023. The new mandates require exporters to identify importers and reveal how end users will be using these materials. The restrictions came after the imposition of similar regulations by the United States for exports of chips and semiconductors to China.

Which Company is Defining the Gallium Oxide Space in the US?

Kyma Technologies is currently leading the charge in innovation for gallium oxide.

The US, a pioneer in technology, has been slow to adopt gallium oxide-powered products, despite being an early adopter of most breakthroughs. However, it is now recognizing the potential of this technology to revolutionize the digital world.

Kyma Technologies, a US-based firm, specializes in wide bandgap semiconductor research and power electronics, selling one-inch gallium oxide substrates and other gallium nitride products, and is owned by the US Department of Defense.

• In August , a ruling that identified gallium oxide substrates as a ‘foundational technology essential to the national security of the United States’ was made by the Bureau of Industry and Security (BIS) of the United States Department of Commerce.

Segments Covered in the Gallium Oxide Market

Gallium Oxide Market By Grade

• 4N
• 5N
• 6N & Above

Gallium Oxide Market By Product Type

• α-Gallium Oxide
• β-Gallium Oxide

Gallium Oxide Market By Application

• Gallium Oxide Substrates
• Others

Gallium Oxide Market By Production Method

• Molecular Beam Epitaxy
• Chemical Vapor Deposition
• Chemical Synthesis
• Thermal Vaporization & Sublimation
• Others

Gallium Oxide Market By End Use :

• Power & High Voltage Devices
• Electroluminescent Devices
• Gas Sensors
• Others

Gallium Oxide Market By Region

• North America
• Latin America
• Europe
• APAC
• MEA

Frequently Asked Questions:

What is the market outlook for gallium oxide for 2023?

The global gallium oxide market accounts for a value of US$ 1..18 million in 2023.

What is the future value of the gallium oxide market?

Gallium oxide sales are forecasted to reach US$ 42.56 million by the end of 2030.

What is the gallium oxide market’s predicted growth rate?

Gallium oxide shipments are projected to surge at 43.65% CAGR from 2023 to 2030.

Which type of gallium oxide is high in demand?

Gallium oxide accounts for around 60% of the global market volume share at present.

Who produces gallium oxide the most?

NANJING JINMEI GALLIUM CO. LTD., AGC Inc., FLOSFIA Inc., Liche Opto Co. Ltd., Neo Performance Materials, and Strem Chemicals Inc. are top companies in the market.