What is the Market Demand for Gallium Arsenide (GaAs) Wafer?

The global gallium arsenide (GaAs) wafer market is projected to grow at a CAGR of 3.4%, increasing from an estimated value of US$358.7 million in 2024 to US$453.3 million by 2031. This market, a vital part of the semiconductor industry, focuses on the production and application of GaAs wafers, which are essential substrates for high-frequency and high-speed electronic devices such as integrated circuits, optoelectronic devices, and photovoltaic cells. With significant demand arising from industries like telecommunications, aerospace, defense, and renewable energy, GaAs wafers are favored for their superior characteristics over traditional silicon wafers. The market is particularly driven by the growing need for advanced semiconductor materials, fueled by the rise of 5G technology and the need for high-speed data transmission. Ongoing advancements in fabrication techniques and cost reductions also present opportunities for semiconductor manufacturers and technology innovators in this expanding sector.