Gallium Nitride Substrates Market - Forecast (2023 - 2028)

The global market for GaN Substrates is estimated to grow from $7.2 million in 2021 to at a robust CAGR of 17.0% during the forecast period 2022-2027. Substrates are integral part of the electronics industry, which form the base of electronic products where field effect transistors, diodes, integrated circuits (ICs), and similar devices are fabricated. The substrates are formed from different semiconductor materials in different sizes and are also called wafers. Gallium Nitride (GaN) is a compound semiconductor material which possesses notable advantages over the conventional semiconductor materials.

This material serves its best as the substrate for optoelectronic products such as Lasers, LEDs. Gallium Nitride (GaN) is a compound semiconductor and wide band gap material which possesses remarkable advantages over other semiconductor materials such as Silicon, Silicon Carbide, sapphire, Aluminum, Zinc Oxide and other single crystal substrates. In October 2020, Cree, Inc. has announced the sale of its LED products business unit, Cree LED, to Smart Global Holdings, a group of specialty memory, compute, and storage solution manufacturers, for up to $300 million. These are established in the optoelectronics and ultra violet optoelectronics. The nitride devices such as light emitters, transistors, diodes, and so on today are largely dependent on the hetero-epitaxial growth of GaN on foreign substrates such as Silicon, Silicon Carbide, and Sapphire. The large part of Gallium Nitride Substrates Market today comprises of such substrates and it is moving towards adopting the bulk GaN substrates.



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