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Single Crystal Silicon Wafers Market to Witness Comprehensive Growth by 2029

The single crystal silicon wafer in accordance with the Miller indices could be defined as a crystal which is capable of using parenthesis of (100). There are several methods of developing or manufacturing single crystal silicon which include CZ methods (Czochralski method) and FZ method (floating zone method). The CZ could be further segmented into MCZ method (Longitudinal Magnetic Field Method), MCZ method (Transverse Magnetic Field) and MCZ method (Cusp Magnetic Field). The digital revolution has led to many technological advancement in electronics. Significant rise in the demand for consumer electronics, portable computing devices and solar cells has led to the growth in demand for silicon market. Some of the factors driving the rise in demand for solar powdered products include renewed growth in demand from the automotive industry and consumer electronics. A key factor which is restraining the market growth include high price and lack of awareness of the single crystal silicon wafer. A key opportunity for the single crystal silicon wafer market is the use of single crystal silicon wafer in hybrid cars which also run on solar energy. Further the use of 540 mm wafers is restraining the market growth of the single crystal silicon wafer market. Another major factor which is restraining the market includes the hazardous by product which is released at the point of production of the single crystal silicon wafer market. Thus due to the emission of such harmful by-products many governments across many countries have strict norms on the production of single crystal wafer and thus the restricting the market growth further.
The single crystal silicon wafer by application could be segmented into, solar cells, integrated circuits and others. Single crystal silicon wafer are mostly used in integrated circuits and are used in consumer electronics, portable computing devices, automotive and others electronics. Further, use of single crystal silicon wafer in developing solar cells is a key opportunity for the single crystal silicon wafer market. A lot of investment is focused at installation of solar powered PVs in countries across North America and Asia Pacific. This is expected to drive the demand for single crystal silicon wafers.
Geographically the global single crystal silicon wafer market could be segmented into Europe, North America, Asia Pacific, Latin America, Middle and Africa. Asia Pacific led the single crystal silicon wafer market and is expected to grow at the fastest rate over the next few years. Growth in silicon wafer industry due to advancement in technology is driving the market in Asia Pacific. Further, availability of low labor cost is expected to drive the demand for single crystal silicon wafer further. Moreover, significant rise in demand for consumer electrons in this region is driving the market. North America followed Asia Pacific in the single crystal silicon wafer market and is expected to be a key region over the next few years. The single crystal silicon wafer market in North America is driven by rising demand for low cost wafers which are used for the production of solar cells. Further presence of key manufactures for solar cell in the North America is expected to drive the demand for single crystal silicon wafers. Key solar cell manufacturer like Advantec Co. Ltd, Nano silicon Inc., Pure wafer PLC, RS Technologies, Rockwood Wafer Reclaim SAS and Shinryo Corporation among others.
The key players operating in the global single crystal silicon wafer market include Renewable Energy Corporation (Norway), Elkem AS (Norway), Addison Engineering (U.S.), Shin – Etsu Handotai Co. Ltd. (Japan), MEMC Electronic Materials Inc. (U.S.), Siltronic AG (Germany), LG Siltron Inc. (U.S.) and SUMCO Corp. (Japan). Key players in the single crystal silicon wafer market have adopted the strategy of product development by focusing in research and development and gain competitive advantage over its competitors. 

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