Share: ResearchAndMarkets.com's offering. The silicon epitaxial wafer market is expected to register a CAGR of 4.42% during the forecast period from 2021 - 2026. The growing demand for advanced semiconductors and increasing innovative end-user applications are significant factors driving the market studied. Epitaxial is mainly done to enhance the functionality of wafers. In recent years, technology has become essential for the manufacturing of highly integrated semiconductor elements (ICs), image sensors (CIS), and specific power semiconductors. The overall semiconductor industry has been witnessing a decline from the previous year, which is further expected to continue in 2020, due to the COVID-19 outbreak. However, globally, the silicon wafer shipments rebounded slightly in Q1 2020, after declining for one year. Logic, analog ICs, discrete components, microprocessors, image sensors, power and optoelectronics, and IGBTs, among others, are some of the significant applications of epitaxial wafers that have gained market momentum in recent years. In 2019, memory devices contributed a substantial portion of the overall demand for ICs. However, all of these categories are witnessing a declining growth rate from the last two years, the trend that is expected to continue in 2020.