As cited by the research report titled ‘Global Thin Wafer Market Size study, by Wafer size (125 mm, 200 mm, 300 mm), by Process (Temporary Bonding & Debonding, Carrier-less/Taiko Process), by Technology (Grinding, Polishing, Dicing), by Application (MEMS, CIS, Memory, RF Devices, LED, Interposer, Logic, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global thin wafer market was worth USD 7.1 billion in 2019 and is projected to grow with a CAGR of 7.2% over 2020-2027 to account for USD 12.4 billion by the end of forecast period.
 

Lucrative growth of global thin wafer market is backed by increased usage of MEMS (micro electro-mechanical system) technology in portable health tracking devices, and growing prominence of e-learning amidst Covid 19 pandemic leading to intensified demand for tablets, smartphones, and laptops, along with reduction in sizes of electronic devices.
 

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For those unaware, thin wafer is a semiconductor substrate that is used in integrated circuits (ICs) of solar cells and photovoltaics. It is used as substrate in microcontroller devices and goes through various processes like cutting, deposition, and iron implanting.
 

The report cites that main companies are adopting different strategies like product launches, acquisition & mergers, huge investments, agreements & partnerships, and funding among others to gain competitive edge, hence indirectly contributing to worldwide thin wafer market share.
 

For instance, in June 2020, Siltronic AG made large investments in an epitaxial reactor to maximize the production capacity of GaN-on-Si (Gallium Nitride-on-Silicon) wafer, due to rising demand for such wafers in 5G wireless networks and data centers.
 

Based on wafer size, global thin wafer industry is divided into 300 mm, 200 mm, and 125 mm. According to process, the market is segmented into carrier-less/taiko process, and temporary bonding & debonding. Speaking of technology, the marketplace is fragmented into grinding, dicing, and polishing. While the application range includes memory, LED, RF Devices, interposer, CIS, MEMS, and logic among others.
 

Geographically, Asia Pacific, Europe, North America, and Latin America are the key contributors to the overall thin wafer industry remuneration. Of these, North America is slated to be a major growth hub for the market over 2020-2027, owing to rising demand for smartphones, and amplifying telecommunication sector.
 

Whereas, Asia Pacific market is poised to showcase lucrative growth trends over the forecast period, on account of increasing usage of MEMS technology, and escalating demand for smart devices due to rising popularity of e-learning solutions.
 

Leading players influencing global thin wafer industry trends are Sil'tronix Silicon Technologies, 3M Company, EV Group (Enduring Value), Brewer Science Inc., GlobalWafers Co., Polishing Corporation of America, My-Chip Production GmbH, Siltronic AG, Virginia Semiconductor Inc., and ULVAC GmbH.