Rising Usage of Electronics Devices

Gallium oxide technology is expected to emerge as a new promising semiconductor player. The chemical compound is expected to play a key role in improving the efficiency of electric vehicles and solar power generation. Also, it is expected to be a promising ingredient for a variety of applications, including electronic devices and light-emitting diodes, as well as piezotronics. For instance, France sees semiconductors as a strategic priority and has unveiled a €5 billion ($5.43 bn) investment plan to develop and produce cutting-edge electronics technology by 2030. In 2023, France launched an ambitious plan for public-private investment of 43 billion euros ($46.7 bn) to regain 20% of the market share in the global industry by 2030. The global gallium oxide market is expected to expand due to its wide range of applications.

Electronic components used in various electric motors, power supplies, and inverters are thought to be both reliable and cost-effective. These components must also be capable of handling very high voltage from the source. With such requirements in mind, gallium oxide is expected to emerge as a viable alternative for the electronics and semiconductors industries. As a result, the high demand for products in the sector is expected to drive growth in the global gallium oxide market between 2024 and 2030. As compared to silicon, gallium oxide is more expensive. The price of gallium oxide, on the other hand, is expected to fall as technology advances. The global gallium oxide market is expected to expand between 2024 and 2030, owing to technological advancements.

The semiconductor industry needs higher density as well as smaller and thinner designs. Silicon has been used to make microelectronics and semiconductors on a wide scale for a long time. However, issues such as scalability in various power electronics have kept silicon from being the preferred material. Gallium oxide has stepped in to perform admirably in a variety of these applications. Over the visible spectrum, this chemical compound also provides clarity and conductivity. As a result, the product's characteristics are likely to pave the way for rapid growth of the global gallium oxide market over the course of the study.

Gallium Oxide Market: By Product Type: Chemical Synthesis, Thermal Vaporization and Sublimation, Chemical Vapor Deposition, Molecular Beam Epitaxy, Others, By Product: (3N) 99.9% Gallium Oxide, (4N) 99.99% Gallium Oxide, (5N) 99.999% Gallium Oxide, (6N) 99.9999% Gallium Oxide, By Application: Electroluminescent Devices, Gas Sensors, Power and High Voltage Devices, Others, By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina, Colombia, and others), Europe (Germany, UK, France, Italy, and Others), APAC(China, Japan India, South Korea, Australia & New Zealand and Others), and RoW (Middle east and Africa).