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Gallium Nitride (GaN) Substrates Market size, share, Industry outlook by 2023

According to the new market research report by IndustryArc titled “Gallium Nitride (GaN) Substrates Market: By Size (2, 4, 6 Inches); By Type (GaN on Sapphire, GaN on Si, GaN on SiC, GaN on GaN); By-Products (Laser, LED, PSD, Others); By Industry (Consumer Electronics, Healthcare, Optical Storage, Others ); By Geography – (2018-2023)”, the market is driven by the growth of the LED (Light Emitting Diode) industry. The market value for LED is enhanced and this creates more demand for the substrates. The GaN LEDs are driven by the lighting segment.Asia Pacific to have a major share in the GAN Substrates Market

Asia Pacific dominates the GaN Substrates Market with a share of 70%. Sapphire production is 78%, while GAN production is 84% in the Asia Pacific countries. These countries are the largest producers of the LED. During 2018-2023, the market is expected to have a CAGR of 92%, with a high demand for LED and PSD in countries like Tokyo, Korea, Taiwan, and China. Asian players share half of the market due to the larger production of substrates in these countries. Compared to other countries, countries in the Asia Pacific region have low manufacturing and labor costs. This factor drives the growth of the power GAN devices during the forecast period.

To Access/Purchase the full report, Please browse the link below:https://industryarc.com/Report/1264/GaN-substrates-market-research-report.html

Key players of the GAN Substrates Market

Saint Gobain Lumilog is the main company for the production of GAN substrates in bulk. These substrates are used in optoelectronic and electronic devices. The company has its headquarters in France and operates in China, Japan, India, and Europe. Sumitomo Electric Industries which has its headquarters in Japan has applications in automotive, info-communication, electronics, and industrial materials. It has 381 subsidiaries that operate in more than 40 countries in the world. Mitsubishi Chemical Corporation, which is a subsidiary of MCHC, provides products, technology, and materials.

Media Contact:Mr. Venkat ReddySales ManagerEmail 1: sales@industryarc.comOr Email 2: venkat@industryarc.comContact Sales: +1-614-588-8538 (Ext-101)

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