New York, Feb. 12, 2024 (GLOBE NEWSWIRE) -- The global SiC wafer reclaim market size is predicted to expand at ~9% CAGR between 2024 and 2036. The market is projected to garner a revenue of USD 2 billion by the end of 2036, up from a revenue of ~USD 772 million in the year 2023.For businesses that offer SiC wafer reclaim, the growing need for silicon wafers from the consumer electronics industry is opening up new economic opportunities. SiC wafers are being utilized more frequently in the developing semiconductor industry in electrical devices that can withstand high temperatures, high voltages, or both, for instance, 5G communication systems.
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Therefore, the growing demand for 5G communications is also propelling the growth of the market. For instance, from the end of 2021, to the end of 2022, there was a 76% increase in global 5G wireless connections, reaching 1.05 billion. The increasing integration of cutting-edge technologies like artificial intelligence, the Internet of Things, and machine learning is creating new opportunities for SiC wafer reclamation service providers. SiC is widely used in industrial power supplies and photovoltaic converters, but its benefits are best utilized in the e-mobility space. SiC wafer reclaim providers focus on maintaining high-quality standards during the reclaim process. Rigorous quality control measures ensure that the reclaimed wafers meet industry specifications and can perform effectively in semiconductor applications.
Increasing Use of Electronic Vehicles across the Globe to Boost Market Growth
SiC wafers are widely used for silicon photonics. One of the main applications of SiC in EVs is the main inverter, which is the circuit that converts the high DC voltage coming from batteries into the AC voltage required to power the traction electric motor. Therefore, the growing demand for electric vehicles (EVs) is escalating the growth of the SiC wafer reclaim market. As per estimation, the new sales record would mean that the market share of electronic vehicles is likely to increase from about 8.7 % in 2021 to more than 14 % by 2022. Continuous innovation of EV technologies, financed by increasing investments in this area, is a driving force behind such fast market growth. In 2022, government expenditure on electric vehicles is expected to reach roughly USD 45 billion, a record high for the last five years. In the area of clean energy, semiconductor technologies have proved to be a game changer. It plays a major role in the manufacture of photovoltaic modules, which have become more and more widely used as an alternate energy source. The solar power is absorbed into silicon, the most common type of material being used to produce electricity. The process is known as photovoltaics. Therefore, the growing demand for clean energy worldwide is propelling the growth of the market.
SiC Wafer Reclaim Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Surging Demand for SiC Wafers in Power Electronics to Drive the Market Growth in Asia Pacific Region
The SiC wafer reclaim market in Asia Pacific region is estimated to garner the largest revenue by the end of 2036. The Asia Pacific region is experiencing a remarkable surge in the demand for silicon carbide (SiC) wafers, particularly in power electronics applications. SiC wafers are preferred for their superior electrical properties, making them essential for high-power and high-frequency electronic devices. Government initiatives across various countries in the Asia Pacific region are actively promoting the adoption of SiC-based technologies. These initiatives aim to strengthen domestic semiconductor industries and encourage the use of advanced materials like SiC in electronic components. "Made in China 2025" initiative is a notable example, focusing on advancing the country's semiconductor industry, including the use of SiC materials. The Asia Pacific region is witnessing a rapid expansion in the manufacturing of electric vehicles (EVs). SiC wafers are integral components in the production of power electronics for EVs, contributing to improved efficiency and performance.
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Emphasis on Renewable Energy Technologies to Propel the Growth in the North America Region
The North America SiC wafer reclaim market is estimated to garner the highest CAGR by the end of 2036. The emphasis on renewable energy sources and technologies in North America is boosting the demand for SiC wafers. SiC's high-temperature capabilities and efficiency make it a key material in power electronics for renewable energy applications. The increasing adoption of electric vehicles in North America is a major driver for the market. SiC wafers are crucial components in the power electronics of electric vehicles, contributing to enhanced efficiency and range. Government initiatives and funding support for the development and adoption of advanced materials, including SiC, are propelling the SiC wafer reclaim market in North America. Investments in research and development contribute to advancements in SiC technology. Programs such as the U.S. Department of Defense's (DoD) investments in wide-bandgap semiconductor technologies, including SiC, showcase the government's commitment to fostering innovation in this sector.
SiC Wafer Reclaim, Segmentation by Diameter
- Below 5 Inches
- 5-10 Inches
- Above 10 Inches
Amongst these segments, the above 10 inches segment in SiC wafer reclaim market is anticipated to hold the largest share over the forecast period. Manufacturers of electronic goods are more likely to incline towards adapting above 10 inches SiC wafers due to the benefits including high performance, energy efficiency, and low-cost integration. Also, the larger wafers provide more surface area; manufacturers can fit more surface area for the fabrication of chips. Therefore, the growing demand for electronic goods and semiconductors will propel the growth of the above 10 inches segment in the coming years. In 2022, the consumer electronics industry brought in a total of USD 987 billion. Also, Apple, Samsung, Huawei, and Sony are just a few of the well-known and established corporations that control the consumer electronics sector. Continued research and development initiatives in the semiconductor industry are contributing to the adoption of SiC wafers above 10 inches. Collaborative efforts between industry and academia aim to push the technological boundaries of SiC wafer production. The growing demand for power semiconductor devices, particularly in high-power applications, is a key driver for SiC wafers above 10 inches. These wafers are essential for manufacturing power electronics components that operate efficiently at higher voltages and temperatures.
SiC Wafer Reclaim, Segmentation by Application
- Optoelectronics
- Power Devices
- High Temperature Devices
- High Frequency Devices
Amongst these segments, the power devices segment in SiC wafer reclaim market is anticipated to hold a significant share over the forecast period. The segment is growing because power devices play a crucial role in various industries such as automotive, renewable energy, and consumer electronics. For instance, the supply of renewable energy from the sun, wind, hydropower, geothermal, and ocean increased by over 8% in 2022. Therefore, the growing demand for renewable energy is propelling the growth of the segment. Also, the rising demand for power devices in applications that operate on a wide range of frequencies and power levels has led to market expansion. The market caters to the recycling and refurbishment of used silicon wafers, making them suitable for reuse in the manufacturing process. This is important because power devices often require specific wafer specifications and characteristics to meet their performance requirements. Therefore, this factor is propelling the growth of the segment. Ongoing research and development initiatives in the field of power electronics propel the advancement of power devices. Collaborative efforts between industry players, research institutions, and government organizations aim to push the technological boundaries, leading to innovations in power device design and performance.
Few of the well-known industry leaders in the global SiC wafer reclaim market that are profiled by Research Nester are Wolfspeed Inc., Semiconductor Components Industries, LLC, Infineon Technologies AG, AIXTRON SE, Okmetic, Showa Denko K.K., Sumitomo Electric Industries, Ltd., Mitsubishi Electric Corporation, Renesas Electronics Corporation, Fujitsu Semiconductor Ltd, and other key market players.
Recent Development in the SiC Wafer Reclaim Market
- With a ribbon-cutting ceremony attended by federal and state officials, Wolfspeed, Inc. (NYSE: WOLF), the world leader in silicon carbide technology and production, formally launched its cutting-edge Mohawk Valley silicon carbide fabrication facility in Marcy, N.Y. The industry-wide switch from silicon to silicon carbide-based semiconductors will be spearheaded by the 200mm wafer fab.
- Onsemi announced the completed expansion of its state-of-the-art, world-largest silicon carbide (SiC) fabrication facility in Bucheon, South Korea. At full capacity, this fab will be able to manufacture more than one million 200 mm SiC wafers per year. To take advantage of increased SiC production capacity, onsemi intends to add up to a total of 1 000 locally employed workers over the next 3 years for filling mainly very technical jobs in order to meet this demand and increase its current workforce by approximately 40%.
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