Vietnam's semiconductor market predicted to reach $8.1 billion by 2028
Vietnam's semiconductor market predicted to reach $8.1 billion by 2028
Vietnam's semiconductor market is predicted to reach $8.1 billion by 2028, exhibiting a growth rate of 12.6 per cent over the 2023-2028 period, according to a report by IMARC Group released on December 21.
The report reveals that semiconductor materials are extensively used in different industries across Vietnam, and its market size reached $3.8 billion in 2022.
As the demand for electronic devices continues to grow globally, manufacturing facilities need to increase their production volumes to meet consumer needs. This surge in production requires a proportional increase in semiconductor materials to fabricate the necessary electronic components.
Moreover, to maintain a competitive edge, electronics manufacturers frequently adopt the latest technologies, which often require new materials with enhanced properties.
In addition, Vietnamese semiconductor companies are incorporating 3D packaging to stay competitive in the market. The adoption of these technologies, such as through-silicon vias and stacked die configurations, has improved the performance and energy efficiency of semiconductor devices. These innovations enable the integration of multiple chips into a single package, reducing the form factor and enhancing functionality.
Moreover, technological advancements have led to the development of cutting-edge semiconductor materials like gallium nitride and silicon carbide. These materials offer superior electrical and thermal properties, making them ideal for high-performance applications in power electronics, wireless communications, and the automotive sector. Vietnamese semiconductor manufacturers are leveraging these materials to create more efficient and reliable devices.
As Vietnam's electronics manufacturing sector focuses on exports, semiconductor materials suppliers can tap into a global market through partnerships with local producers. This presents an opportunity for suppliers to cater to international demand while benefiting from Vietnam's competitive manufacturing landscape.
With growing awareness of environmental sustainability, there is an opportunity for suppliers to offer eco-friendly semiconductor materials. Materials with reduced environmental impact, such as lead-free solders and green packaging materials, align with global sustainability trends and are set to gain traction in Vietnam.
