Global Gallium Nitride Market - Overview
The global gallium nitride market is predicted to grow at a healthy CAGR between 2016- 2023, according to the new report by Market Research Future (MRFR). Gallium nitride or GaN, simply put, is a wide bandgap semiconductor material. It is widely used to manufacture semiconductor devices like high electron mobility transistor, light-emitting diodes, and others. The performance benefits of gallium nitride over its silicon counterparts like higher operating voltage, high power density, high frequency, and higher temperature, which has increased its demand manifold. It has extensive applications, including industrial and power, healthcare, defense and aerospace, consumer electronics, automotive, and others.
Various factors are adding to the gallium nitride market growth. According to the new MRFR report, such factors include increasing use in different end user industries like defense and aerospace, consumer electronics, automotive, and others, demand for lightweight automotive having improved efficiency, booming consumer electronics industry, and increased use in television, laptops, smartphones, and others. Gallium nitride LEDs are highly favored over conventional lights for the various benefits that it offers, such as power efficiency, consumption of energy, concerns for the environment, and luminosity. On the contrary, high cost and limited availability are factors that may restrict the gallium nitride market growth over the forecast period.
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Cree Inc. (the U.S), GaN systems (Canada), FUJITSU (Japan), Efficient Power Conversion Corporation (the U.S), IQE plc (U.K), Koninklijke Philips N.V. (the Netherlands), Infineon Technologies Ag (Germany), Mitsubishi Chemical Corporation (Japan), ON Semiconductor (the U.S), Taiwan Semiconductor Manufacturing Company (Taiwan), Panasonic Corporation (Japan), Texas Instruments Incorporated (the U.S), TOSHIBA CORPORATION (Japan), VisIC (Israel), and Nippon Telegraph and Telephone Corporation (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Gallium Nitride Market.
Acrylonitrile butadiene styrene is a type of thermoplastic-based polymer and is used in a wide range of applications due to its physical durability and resistance to chemicals and heat. Acrylonitrile butadiene styrene is obtained in the form of an amorphous powder, but can be molded into any shape imaginable to be used in a wide array of end uses. The growing construction industry is likely to be a major driver for the acrylonitrile butadiene styrene market over the forecast period. Acrylonitrile butadiene styrene is used in various applications in the construction industry, as it represents a cheap alternative to more expensive materials and provides comparable levels of resistance to heat and chemicals. Growing residential construction is likely to remain a major driver for the global acrylonitrile butadiene styrene market.
The growing demand for household appliances and electrical and electronics industry products is also likely to be a major driver for the global acrylonitrile butadiene styrene market over the forecast period. Due to its favorable physical characteristics, acrylonitrile butadiene styrene is used in the production of a wide range of household appliances made from plastic. Electrical and electronics components are also made from acrylonitrile butadiene styrene, as it presents a significant barrier against electric currents. This is likely to remain a major driver for the global Gallium Nitride Industry over the forecast period.
Conversely, factors such as the volatility in the prices and the demand and supply gap in the raw materials required for the production of ABS are acting as a major tailwind impeding the growth of the market. However, the increasing uses of black ABS plastic which is highly recyclable will support the growth of the market, accounting for about half of all plastic materials, globally.
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Gallium Nitride Market - Segments:
The MRFR report gives an inclusive segmental analysis of the global Gallium Nitride Market Analysis based on end use industry and type.
By type, the gallium nitride market is segmented into n-type and p-type. Of these, the n-type segment will lead the market over the forecast period for cheap cost and easy availability.
By end user, the gallium nitride market is segmented into industrial and power, healthcare, defense and aerospace, consumer electronics, automotive, and others. Of these, the automotive industry will dominate the market over the forecast period for its excessive use in traffic signals, locomotives, and electric cars.
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Gallium Nitride Market - Regional Analysis:
Based on the region, the global gallium nitride market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Burgeoning demand for LEDs in various consumer goods, including gaming devices, laptops, computers, television, and others are adding to the gallium nitride market growth in the region. Canada the US have a maximum share in the region for the sophisticated lifestyle and fast-paced life.
The global gallium nitride market in Europe is predicted to have the second-largest share over the forecast period. Growing technological advances in space science, military, and defense are adding to the gallium nitride market growth in the region.
The global gallium nitride market in the APAC region is predicted to grow at a fast pace over the forecast period. Growing end-user industries in Australia, Taiwan, and South Korea, high sales revenue in India, Japan, and China, easy availability of suppliers offering raw materials, and burgeoning demand for cheap, high performance, and efficient RF electronics are adding to the gallium nitride market growth in the region.
The global gallium nitride market in Latin America the MEA is predicted to have sound growth over the forecast period.
Industry/ Innovation/ Related News
In July 2019, Transphorm Inc., a company that has a made a name for itself in the gallium nitride semiconductor category, announced that it had won a contract from the U.S. Department of Defense (DoD) Office of Naval Research (ONR) worth of USD 18.5 million dollar to create a domestic resource base for that.
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