SiC Wafer Polishing Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the SiC wafer polishing market was valued at USD 1.4 billion in 2022, and a CAGR of 37.2% is expected during the forecast period. Growing semiconductor industry and advancement in polishing technologies are driving growth in the market significantly. Advancements in advanced polishing consumables are driving growth in the market significantly. As SiC wafers are thinner and more complicated in design, the demand for consistent and precise polishing grows.

Increasing incorporation of SiC-based power devices is driving the demand for the SiC wafer polishing market. SiC wafers are crucial in power electronics used in EVs, especially for inverters, converters, and charging systems. Increasing adoption of EVs has driven the demand for SiC wafers, and polishing is essential for ensuring high-quality SiC substrate.

Growth Drivers

Increasing demand for more efficient power devices is driving growth in the market. Lower energy losses and higher power efficiency are obtained in the devices using SiC. The rollout of 5G technology requires high-performance power devices, and SiC is favored due to its superior thermal conductivity. Rise in power electronics applications, industrial automation, and data centers is fueling demand for high-quality SiC wafers and SiC wafer polishing. SiC offers higher thermal conductivity, voltage capability, and efficiency compared to silicon, making it an ideal option for power electronics.

Increasing adoption of electric vehicles is boosting the demand for SiC-based power electronics in inverters and charging infrastructure. Increasing demand for SiC in photovoltaic inverters, solar energy systems, and wind energy, improving efficiency, and reducing power loss. Deployment of 5G technologies requires SiC-based components for higher frequency and efficient power management in telecom infrastructure. Rising semiconductor device manufacturing and polishing processes for SiC wafers improve, reducing defects and improving yield.

Governments worldwide are supporting and investing in SiC production and research to bolster industries like EVs, renewable energy, and telecommunications, which require SiC wafers. High performance of SiC in extreme conditions makes it valuable in aerospace and defense applications, further pushing the demand for high-quality SiC wafer polishing. With energy efficiency becoming a more critical factor across industries, SiC’s superior performance in high-voltage and high temperature applications enhances its appeal for various applications.

Segmentation

Wafer Size

·         2-3 inch

·         4 inch

·         6 inch

·         8 inch

·         12 inch

By Applications

·         Power

·         Radio Frequency

·         Other Applications

By End-User Industry

·         Telecom and Communications

·         Automotive

·         Electric Vehciles

·         Photovoltaic

·         Industrial

·         Other End-Users

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

SiC Wafer Polishing Market by End-User Segmentation

On the basis of the end-user, the SiC wafer polishing market is segmented into telecom and communication, automotive, electric vehicles, photovoltaic, industrial, and others. Electric vehicles are the leading segment and are expected to dominate the market during the forecast period. SiC semiconductors provide superior energy efficiency, allowing for lighter and more compact components.

This helps in extending EV range and improving power management, making them ideal for EV powertrains, charging systems, and inverters. The automotive industry increasingly relies on SiC to meet efficiency and performance demands. The global shift towards electrification has led to a surge in EV production, particularly as major automotive manufacturers transition to electric models. High growth in the EV market is driving the demand in the market significantly.

Regional Outlook

On the basis of the regions, the SiC Wafer Polishing Market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. The Asia Pacific region is the largest market in the world and is expected to dominate the world during the forecast period, due to Japan, China, South Korea, and India being the largest semiconductor manufacturers. These countries have robust supply chains and are significant producers of traditional silicon and emerging SiC wafers, making them key players in SiC wafer polishing and processing.

Rapid growth in electric vehicles, especially in China and Japan, which use SiC components for their power system inverters, and being a hub for consumer electronics, Region provides a great demand for high-performance and energy-efficient drivers. The region has a strong base for R&D activities and technological advancements in semiconductor materials. Japanese companies are well-known for their innovation in wafer polishing and processing technologies. The North American region's well-established industrial infrastructure and the region's significant investment in electric vehicles’s renewable energy and high-power electronics have driven the demand for SiC-based semiconductors.

North America is home to several advanced technology companies and research institutions that are pioneering development in semiconductors, including SiC wafers. This has enabled innovation in wafer polishing techniques, leading to higher-quality SiC products. Major players in the SiC wafer manufacturing and polishing industries, such as Cree, ON Semiconductor, and II-VI incorporated, are headquartered in North America. These companies have been crucial in advancing the SiC wafer technology and expanding the region’s market share.

The U.S. government and private sector have heavily invested in semiconductor research and infrastructure, which includes support for SiC wafer technologies. With the U.S. making efforts to strengthen its semiconductor supply chain, especially after disruptions due to geopolitical tensions, there has been increased demand for SiC materials to produce energy-efficient and next-generation semiconductors. These wafers are generally used in high-performance and defense applications due to their robustness and efficiency in extreme conditions. North America’s strong aerospace and defense sectors are pushing the adoption of SiC technologies.

Europe is also witnessing significant growth in the market due to increasing demand for electric vehicles and increasing growth in the semiconductor industry in countries like Germany, the United Kingdom, Russia, France, Spain, the Netherlands, Denmark, Norway, and Sweden. Europe has been a global leader in the transition to renewable energy and electric mobility. SiC wafers play a crucial role in improving the efficiency of power electronics used in electric vehicles, solar inverters, and turbines. Europe is home to some of the world’s largest manufacturers, such as Volkswagen and BMW, which are heavily investing now in electric vehicles. Several leading semiconductor companies are having their homes in Europe, and these companies are significantly growing with time.

Key Players

·         3M

·         Dupont Incorporated

·         Entegris

·         Kemet International

·         Ferro Corporation

·         Fujimi Corporation

·         Saint-Gobain

·         SKC

·         Engis Corporation

·         Other Players