Gallium market share by region and emerging trends

The global gallium market is on an impressive growth trajectory, projected to increase from a valuation of US$ 1.9 billion in 2022 to US$ 17 billion by 2032. According to Persistence Market Research, the demand for gallium nitride (GaN) is expected to surge at a remarkable compound annual growth rate (CAGR) of 24.5% through 2032. This growth can be attributed to the rising demand for gallium in various high-tech applications, particularly in the semiconductor industry.

Regionally, Asia-Pacific dominates the gallium market, driven by robust demand from countries like China, Japan, and South Korea. These nations are significant players in the electronics and optoelectronics sectors, utilizing gallium in various applications such as LEDs, solar cells, and lasers. North America and Europe also contribute to the market, particularly in advanced technology and research sectors.

In terms of product type, opto-semiconductors held a substantial 35.1% share of market revenue in 2021. The increasing integration of opto-semiconductors in devices like optoelectronics, lasers, photodiodes, solar cells, and LEDs is driving this demand. As innovation continues in these fields, the gallium market is set to evolve, presenting lucrative opportunities for manufacturers and investors alike.