In the recent era, the semiconductor industry, which plays a pivotal role in powering today's cutting-edge technologies, relies heavily on a broad spectrum of materials, entailing of silicon and rare earth elements. These materials serve as the backbone for crucial components, such as solar cells, transistors, IoT sensors, and the intricate circuits found in self-driving cars. Consequently, there is a notable surge in demand for these devices, marking a paradigm shift in the technological landscape. The first section of this comprehensive exploration delves deeply into semiconductor materials. Understanding their profound impact on electronic devices and the intricacies of the manufacturing process is fundamental for anyone seeking a comprehensive grasp of this dynamic industry. Moving forward, the second part focuses on the properties and physics governing semiconductor materials. The electronic conductivity of these materials is of paramount importance, and the chapter unravels the challenges involved in the efficient and cost-effective large-scale manufacturing of new materials with these crucial properties. Segment three navigates through the vast realm of semiconductor applications, shedding light on their pivotal role in various electronic devices and cutting-edge technologies. It accentuates the unique electrical properties that make semiconductors indispensable in industrial settings. In the fourth section, attention is paid to the present market scenario, where the semiconductor market stands out for its stability across diverse industrial sectors. The chapter meticulously examines the production expenses associated with different materials, ranging from the widely used silicon to the more exotic rare earth metals. Essentially, this chapter guides readers through the complex trends in the semiconductor industry, offering a concise overview of material development and influential factors. It also encourages the exploration of innovative solutions to propel the Very Large Scale Integration (VLSI) industry toward unprecedented advancements.