**2. Market study for semiconductor raw materials**

The semiconductor material market is expected to register a CAGR of 4.17% over the forecast period (2021–2026) stated by Mordor Intelligence Pvt. Ltd. [9].

Market experts project that the semiconductor market (including smartphones, tablet, PC, smartwatch) is about to increase exponentially in the upcoming years, mainly driven by novel applications such as artificial intelligence, internet of things, nanorobotics, high power computing, virtual and augmented reality.

The Semiconductor Industry Association (SIA)-announced global semiconductor industry sales showed an increase of 21.1% over the year 2021 to 2022 with an increase of a total of \$42.0 billion [9]. The most growth rate is expected in Asia, while the least impact is predicted for South America and Africa as shown in **Figure 2**.

Other sources such as Techcet [10] divide the global semiconductor market according to process materials, packaging materials, consumable equipment components, and silicon wafers and they project an increase in the market in the upcoming years up to 30% as reported in **Figure 3**.

#### **Figure 2.**

*Global semiconductor material market. Growth rate by region for 2021–2026 according to Mordor Intelligence Pvt. Ltd. market study [9].*

**Figure 3.** *Global semiconductor material projection by Techcet [10].*

Moreover with the new policies for green and carbon-free energy, according to the International Energy Association, the rise of low-carbon power generation is projected to triple mineral demand from this sector by 2040 [11].
