Booming Semiconductor Sector Fuels Gallium Market Growth Worldwide
Market Overview Global Gallium Market is currently valued at 26.39 Billion in 2024 and is anticipated to generate an estimated revenue of USD 56.13 Billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 7.9% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 - 2034 The Gallium Market is witnessing robust growth driven by the increasing adoption of gallium-based materials in semiconductors, optoelectronics, and renewable energy applications. Gallium, a soft metal with a low melting point, is primarily used in compound semiconductors such as gallium arsenide (GaAs) and gallium nitride (GaN). These compounds are essential for high-performance electronic and photonic devices due to their superior thermal stability, efficiency, and electron mobility compared to traditional silicon-based components. The market expansion is closely tied to the rising demand for hig...