The Indium Phosphide Wafer Market size is estimated at USD 177.03 million in 2024, and is expected to reach USD 311.15 million by 2029, growing at a CAGR of 11.94% during the forecast period (2024-2029).
Indium phosphide (InP) has properties that produce highly efficient lasers, modulators, and sensitive photodetectors. It can also generate laser signals and convert and identify those signals back to the electronic form. These are used for company networks and data centers, long-haul optical fiber connections over far distances, wireless connections for 3G, 5G, and LTE base stations, and satellite communication. The growth in such requirements is driving the market.
The growing presence of large manufacturers in the indium phosphide wafer manufacturing sector is expected to intensify competitive rivalry during the forecast period. Market incumbents, such as JX Nippon Mining & Metals Corporation and Powerway Advanced Material Co. Ltd, considerably influence the overall market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook