Gallium Oxide (Ga2O3) Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, South Korea, Germany - Size and Forecast 2024-2028

Gallium Oxide Market Size 2024-2028

The gallium oxide (Ga2O3) market size is forecast to increase by USD 119.344 th at a CAGR of 43.61% between 2023 and 2028.

• The market is experiencing significant growth due to the increasing demand for high-power-density devices in various industries, including telecommunications, automotive, and power electronics. This trend is driving investments in advanced semiconductor materials by companies to meet the growing demand for more efficient and reliable components. However, the high production cost of Ga2O3-based semiconductors remains a challenge for market growth. Despite this, the market is expected to expand at a steady pace due to the unique properties of Ga2O3, such as its wide bandgap, high breakdown voltage, and excellent thermal stability, making it an ideal material for power electronics applications. Additionally, ongoing research and development efforts are aimed at reducing production costs and improving manufacturing processes to make Ga2O3 semiconductors more cost-effective and accessible to a wider range of applications.

What will be the Size of the Market During the Forecast Period?

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• Gallium Oxide (Ga2O3), a chemical compound with the molecular formula Ga2O3 and a band gap of approximately 4.8 eV, is gaining significant attention In the semiconductor industry due to its unique properties. Ga2O3 is used in various applications, including phosphors, cathodes, piezoelectric crystals, and sputtering targets. In the field of electronics, Ga2O3 is used In the production of solar-blind photodetectors, power electronic devices, memory chips, commodity integrated circuits, microprocessors, and electroluminescent devices. Ga2O3 is also used In the production of gas sensors and is synthesized using techniques such as Molecular Beam Epitaxy (MBE), Chemical Vapour Deposition (CVD), and Chemical Synthesis.
• The Ga2O3 market is expected to grow due to its increasing usage In the semiconductor industry. Its high voltage and resistance features make it an ideal material for power electronic devices, while its ability to form stable oxides makes it suitable for use in cathodes and piezoelectric crystals. The Ga2O3 market is expected to witness significant growth In the coming years due to its increasing usage in various applications. The Ga2O3 market is driven by the growing demand for high-performance semiconductor devices and the increasing adoption of Ga2O3 in various industries, including automotive, healthcare, and consumer electronics.

How is this Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "Thousand" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Beta-gallium oxide
  • Alpha-gallium oxide
• Application
  • Power and high voltage devices
  • Electroluminescent devices
  • Gas sensors
  • Others
• Geography
  • APAC
    • China
    • Japan
    • South Korea
  • North America
    • US
  • Europe
    • Germany
  • South America
  • Middle East and Africa

By Type Insights

• The beta-gallium oxide segment is estimated to witness significant growth during the forecast period.

Beta-gallium oxide, the most thermodynamically stable phase of gallium oxide, is gaining significant attention In the semiconductor industry due to its superior material properties. This phase transforms other gallium oxide phases into itself when heated to a specific temperature. The large bandgap of over 4.5 eV makes beta-gallium oxide a promising material for power-switching applications. Its critical electric-field strength is much higher than that of silicon carbide and gallium nitride, making it an attractive alternative for power electronics in data centers, electric vehicles, and renewable energy systems. Moreover, beta-gallium oxide is also used In the production of phosphors, cathodes, piezoelectric crystals, sputtering targets, solar-blind photodetectors, and electroluminescent devices.

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The beta-gallium oxide segment was valued at USD 6,142.10 in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 54% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In 2022, the Asia Pacific region held a significant share of the global gallium oxide market, driven by the expanding usage of gallium oxide components in various industries. The automotive electronics sector's growing demand for high-performance power devices, such as gallium oxide transistors, for electric vehicles (EVs) and hybrid electric vehicles (HEVs), contributed to market growth. Furthermore, the aerospace and defense industries' increasing adoption of gallium oxide FETs segment for high-voltage rectifiers in power conditioning units and distribution systems was another significant factor. In the industrial machinery sector, gallium oxide's use in external cooling systems and power distribution systems boosted demand.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise In the adoption of Gallium Oxide (Ga2O3) Industry?

Increasing demand for high-power-density devices is the key driver of the market.

• The semiconductor industry is witnessing significant advancements in power electronics, with a growing emphasis on enhancing efficiency in power systems. Gallium oxide (Ga2O3) is emerging as a promising material for power semiconductor devices due to its unique properties. Ga2O3-based power devices exhibit higher breakdown voltages and lower on-resistances, leading to reduced conduction losses and improved power conversion efficiency. Beyond power electronics, gallium oxide holds potential in various applications such as opto-semiconductor devices, solar-blind photodetectors, piezoelectric crystals, phosphors, cathodes, and gas sensors. In the semiconductor market, gallium oxide is used as a sputtering target and in chemical synthesis via Molecular Beam Epitaxy (MBE) and Chemical Vapour Deposition (CVD).
• Key chemical compounds like Sodium borohydride (NaBH4) and alkalies are used In the synthesis of gallium oxide. Companies such as Strem Chemicals, Dow Chemical, and BASF are active In the production of gallium oxide and its related chemicals. The molecular formula for gallium oxide is Ga2O3, and its critical electric-field strength is higher than that of silicon carbide and gallium nitride, making it suitable for fast switches like MOSFETs and FETs. Gallium oxide power semiconductor devices are used extensively in high-power-density applications such as electric vehicles (EVs)/hybrid electric vehicles (HEVs) and photovoltaic (PV) inverters. The performance of these devices is crucial, and they are evaluated based on factors like low switching and conduction losses, high blocking voltage, high operating temperature, high switching frequency, and stable electrical characteristics over a wide temperature range.

What are the market trends shaping the Industry?

Increasing investments in advanced semiconductor materials by companies is the upcoming market trend.

• Gallium oxide (Ga2O3) is a significant material In the semiconductor industry, particularly for power semiconductors. Power semiconductors are integral components in various electrical and electronic devices, including servers, automobiles, industrial machinery, and home appliances. The demand for power semiconductors is escalating due to the increasing performance requirements, as their efficiency directly impacts the energy consumption, weight reduction, and miniaturization of power control modules. Ga2O3 is gaining popularity due to its superior electrical properties, such as lower power losses, high voltage resistance, and large current characteristics. These features make it suitable for various applications, including power electronic devices, memory chips, microprocessors, electroluminescent devices, gas sensors, and opto-semiconductor devices.
• Gallium oxide is used In the production of piezoelectric crystals, sputtering targets, and solar-blind photodetectors. Its manufacturing processes include Molecular Beam Epitaxy (MBE), Chemical Vapour Deposition (CVD), and Chemical Synthesis. Strem Chemicals and Dow Chemical are some of the leading suppliers of gallium oxide. The gallium oxide market is driven by the increasing demand for fast switches, such as MOSFETs (Metal-Oxide-Semiconductor Field-Effect Transistors) and FETs (Field-Effect Transistors), used in power electronics, consumer electronics, and RF semiconductor devices. The market's growth is also influenced by the development of epitaxial wafers and substrates with larger wafer sizes to meet the increasing demand for miniaturization and higher performance.

What challenges does the Gallium Oxide (Ga2O3) Industry face during its growth?

High production cost of gallium oxide-based semiconductors is a key challenge affecting the industry growth.

• Gallium oxide is a compound semiconductor material that holds significant potential in various industries, including the semiconductor sector. However, its adoption is limited due to its higher cost and complex manufacturing process compared to silicon. Gallium oxide-based semiconductor devices, such as piezoelectric crystals, solar-blind photodetectors, and electroluminescent devices, offer unique properties, including a wide bandgap, high critical electric-field strength, and voltage and resistance features. These properties make gallium oxide suitable for applications in power electronic devices, memory chips, microprocessors, and opto-semiconductor devices. Manufacturing gallium oxide semiconductor devices requires advanced technologies and high-end equipment, which increases the investment required. The production process for gallium oxide involves chemical synthesis using sodium borohydride (NaBH4) or other alkalies, Molecular Beam Epitaxy (MBE), or Chemical Vapour Deposition (CVD).
• Gallium is not as abundant as silicon, which further adds to the cost. Major manufacturers of gallium oxide include Strem Chemicals, Dow Chemical, and BASF. The gallium oxide semiconductor market is currently In the research stage, with applications primarily in niche markets such as fast switches, MOSFETs, FETs, and substrates for epitaxial wafers. The wafer size and substrate specifications for gallium oxide semiconductor devices are different from those of silicon-based devices, which also adds to the manufacturing complexity and cost. In summary, while gallium oxide semiconductor devices offer unique properties, their high manufacturing cost and complex production process limit their widespread adoption In the semiconductor industry.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• AGC Inc.
• American Elements
• 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.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Gallium Oxide (Ga2O3), a significant compound In the semiconductor industry, is gaining momentum due to its unique properties. Its application span includes various sectors such as phosphors, cathodes, piezoelectric crystals, and more. In the semiconductor market, Ga2O3 is used as a sputtering target for the production of solar-blind photodetectors and power electronic devices. The production of Ga2O3 involves Chemical Vapour Deposition (CVD) and Molecular Beam Epitaxy (MBE). Key chemical compounds used in its synthesis include Sodium borohydride (NaBH4) from Strem Chemicals and alkalies from Dow Chemical and BASF. 

In addition, Ga2O3's molecular formula is Ga2O3, with a band gap of approximately 4.8 eV, critical electric-field strength, and resistance feature making it suitable for fast switches like MOSFETs and FETs. Its applications extend to memory chips, microprocessors, electroluminescent devices, gas sensors, and opto-semiconductor devices. Ga2O3 is also used In the production of substrates and epitaxial wafers for various wafer sizes. The power electronics sector heavily relies on Ga2O3 for RF semiconductor devices and power electronics. The consumer electronics industry also benefits from Ga2O3 in various applications, including power switches and sensors. The research stage for Ga2O3 is ongoing, with potential applications in optoelectronics and high-power electronic devices. The future of Ga2O3 In the semiconductor industry looks promising, with continued innovation and advancements in its production and application.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the Gallium Oxide (Ga2O3) industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the market growth of industry companies

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