Electronic Grade Silicon Market Updates

Global Electronic Grade Silicon Market size was valued at USD 3.67 billion in 2023 and is poised to grow from USD 3.88 billion in 2024 to USD 6.1 billion by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Shin-Etsu Chemical Co., Ltd. (Japan) ', 'SUMCO Corporation (Japan) ', 'GlobalWafers Co., Ltd. (Taiwan) ', 'Siltronic AG (Germany) ', 'SK Siltron Co., Ltd. (South Korea) ', 'Wafer Works Corporation (Taiwan) ', 'Okmetic Oy (Finland) ', 'LG Siltron Incorporated (South Korea) ', 'MEMC Electronic Materials, Inc. (USA) ', 'Topsil Semiconductor Materials A/S (Denmark) ', 'Silicon Materials, Inc. (USA) ', 'Wacker Chemie AG (Germany) ', 'Tokuyama Corporation (Japan) ', 'REC Silicon ASA (Norway) ', 'Hemlock Semiconductor Corporation (USA) ', 'Mitsubishi Materials Corporation (Japan) ', 'OCI Company Ltd. (South Korea) ', 'Ferrotec Holdings Corporation (Japan) ', 'Atecom Technology Co., Ltd. (Taiwan)'

The growth of the global electronic grade silicon market is attributed to the semiconductor industry's high need for electronic grade silicon. Microelectronics and integrated circuits use almost 80% of silicon that is electronic grade which creates a huge demand for the material which in turn contributes to the growth of the market.

The expansion of the Electronic Grade Silicon market was aided by the growing demand for semiconductors from IT, telecommunications, & electronics industry. The electrical and electronics industry has a high demand for semiconductors. Additionally, the market for digital appliances is expanding tremendously, and due to customer demands, the industries of computing, electronics, and telecommunications are always undergoing technical advancements. Furthermore, there is a huge demand for storage devices due to the proliferation of Big Data and automation in almost every business. All of these products need integrated chips with EGS to function properly which supports the market growth.

In 2021, Asia-Pacific is expected to have the biggest market share of 42.0%. Taiwan, China, Japan and India are among the top countries that holds a significant share in the industry attributing to the presence of well-established semiconductors industry in these countries. The semiconductor industry has centralized in East Asia. East Asian nations dominate the foundry industry and account for more than 70% of all global semiconductor exports. More than 60% of the revenue for foundries worldwide is held by Taiwan Semiconductor Manufacturing Company and its contract manufacturing businesses. The business manufactures integrated chips and is among the biggest consumers of silicon of the electronic grade. The supply of integrated chips for makers of electronic devices around the world is reliant on TSMC. East Asian nations are growing their economy globally as a result of the massive manufacture and export of integrated chips. This, thus contributes to the regional growth of the market.