Single Crystal Germanium Market REPORT OVERVIEW
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The global single crystal germanium market size was USD 156.4 million in 2022 and is projected to touch USD 222.61 million by 2031, exhibiting a CAGR of 4.0% during the forecast period.
Single crystal germanium, also known as monocrystalline germanium. It is a metal element that contains a continuous and unbroken crystal lattice. The element is in ultrapure form and has no grain boundaries. The product is used in semiconductors, alloys, and special glass for infrared devices. Further, it is stable in air, silvery-white brittle, and unaffected by acids, except alkalis and nitric acid. The atomic number of germanium is 32. Also, its appearance is similar to elemental silicon. They are manufactured in various standard and custom dimensions such as electronic, thin-film, orientations for optical, and other high technology applications.
Increasing demand from semiconductors, solar, and alloys industries are expected to boost market growth. Germanium is an ideal choice for lenses and windows in IR systems are predicted to increase product demand. Excellent physical properties of the product are projected to drive market growth. Rising demand for shielding applications and multi-spectral systems are predicted to boost market growth. Government initiatives to use renewable energy are expected to expand market growth. In addition, increasing need for oxide semiconductors and bipolar complementary metal-oxide semiconductor technologies are anticipated to boost single crystal germanium market growth.
COVID 19: Shutdown of Electronic Industry to Restrict Market Growth
Sudden outbreak of the COVID-19 pandemic led to the implementation of stringent lockdown regulations globally, which impacted import and export activities of the market. The market witnessed disruptions in supply chain and lockdown restrictions affected the production activities. Further, the growing trend for working from home impacted economic growth. Closure of several electronic industries restricted market growth during the pandemic.
However, the market experienced a positive growth after the withdrawal of lockdown restrictions. Booming electronic industry and strategies by major key players are projected to drive market growth.
LATEST TRENDS
"Growing Semiconductor Industry to Incite Market Growth"
Increasing demand for semiconductors is expected to drive market growth. The element is responsible for increasing sputtering energy at 500C vs 800C and enables thicker and faster deposition with better surface finish. Further, growing use of solar batteries in several industries is predicted to boost single crystal germanium adoption. Government initiatives to use renewable energy are expected to expand market growth. In addition, increasing need for oxide semiconductors and bipolar complementary metal-oxide semiconductor technologies are anticipated to boost single crystal germanium market growth during the forecast period.
Single Crystal Germanium Market SEGMENTATION
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- By Type
Based on type; the market is divided into infrared grade, solar grade, and detector grade.
Solar grade is the leading part of segmentation type.
- By Application
Based on the application; the market is divided into solar battery, semiconductor device, infrared imager, and others.
Semiconductor device is the leading part of application segmentation.
DRIVING FACTORS
"Increasing Industrialization to Accelerate Market Growth "
Single crystal germanium market growth is attributed to the growing use of germanium in manufacturing small amount of transistors of arsenic, indium, gallium, or phosphorus. Growing demand for alloys in multiple industries is expected to boost market growth. IT optical instruments or IR detectors are expected to pose a great opportunity for market growth. Further, ongoing research and development activities in bactericide and in chemotherapy are projected to drive market growth during the forecast period. In addition, growing use of the product in shielding applications and multi-spectral systems are projected to drive market growth.
"Growing Investments in the Solar Industry to Boost Market Growth "
Increasing investments by various governments in the solar industry to incite market growth. Increasing demand to minimize crude oil imports to reflect positive market growth. Growing use of electronic devices globally such as smartphones is predicted to boost product demand. Market players are also investing high in developing the solar industry which may propel the product demand. Further, increasing trends such as integration of photonics with electronics, encounter crippling delays, and heating issues have increased the use of single crystal germanium. In addition, growing need for solar, semiconductor, and alloys industries are anticipated to increase single crystal germanium market growth during the forecast period.
RESTRAINING FACTORS
"Growing Technical Issues to Restrict Market Growth "
Technical issues during single crystal germanium applications may restrict market growth. High cost associated with the product manufacturing may hinder single crystal germanium market growth. Further, lack of knowledge and presence of alternatives in the market are also predicted to hamper market growth.
Single Crystal Germanium Market REGIONAL INSIGHTS
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North America is expected to witness the largest single crystal germanium market share due to strong demand from the semiconductor industry. Increasing demand from various industries such as solar, electronic and others are expected to drive market growth. Further, increasing use of the product in IR equipment and IR detectors are projected to drive market growth.
Asia Pacific is expected to show significant market growth due to growing needs from solar, semiconductor, and alloys industries. Rising demand for shielding applications and multi-spectral systems are predicted to boost product demand. Further, presence of major market players is projected to drive single crystal germanium demand.
Europe is expected to witness considerable market growth due to growing investments in the solar industry. Increasing use of the product in semiconductors is projected to drive market growth. Further, growing demand for renewable energy is expected to boost market growth.
North America is expected to show considerable market growth due to increasing need for oxide semiconductors and bipolar complementary metal-oxide semiconductor technologies in the region. It is projected to drive product demand. Also, an increasing number of solar and electronic industries are estimated to boost single crystal germanium adoption.
KEY INDUSTRY PLAYERS
"Leading Players Adopt Partnership Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- China Germanium (China)
- Yunnan Germanium (China)
- Umicore (Belgium)
- Chihong Zn&Ge (China)
- AXT (U.S.)
- PS (Jenoptik) (U.S.)
- PPM (U.S.)
- Baoding Sanjing (China)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 156.4 Million in 2022 |
Market Size Value By |
US$ 222.61 Million by 2031 |
Growth Rate |
CAGR of 4% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the single crystal germanium market expected to touch by 2031?
The global single crystal germanium market is expected to reach USD 222.61 million by 2031.
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What CAGR is the single crystal germanium market expected to exhibit by 2031?
The single crystal germanium market is expected to exhibit a CAGR of 4.0% by 2031.
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Which are the driving factors of the single crystal germanium market?
Drivers of this market are growing demand from the semiconductor industry and growing investments in the solar industry.
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Which are the top companies operating in the single crystal germanium market?
China Germanium, Yunnan Germanium, Umicore, Chihong Zn&Ge, AXT, PS (Jenoptik), PPM, and Baoding Sanjing.