Pune, Sept. 13, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The SIC Wafer Polishing Market size was valued at USD 0.46 Billion in 2023 and is expected to grow to USD 8.27 Billion by 2032 and grow at a CAGR of 37.86% over the forecast period of 2024-2032.”
Increase In SIC Wafer Polishing Fueled By Progress In Electric Vehicles And Sustainable Energy Sources
The increasing demand for SIC-based power semiconductors in high-performance sectors such as electric vehicles and renewable energy systems is driving the rapid growth of the SIC wafer polishing market. SIC devices provide better efficiency and durability in harsh conditions, leading to a higher need for carefully polished wafers. Advancements in polishing techniques and materials, combined with the transition to energy-saving gadgets, are significant factors fueling the expansion of this market. With the progress of the automotive and renewable energy sectors, there is an increasing demand for advanced SIC wafer polishing solutions.
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Key Players in the SIC Wafer Polishing Market are:
- Kemet International (UK)
- Entegris (US)
- Iljin Diamond (US)
- Fujimi Corporation (Japan)
- Saint-Gobain (US)
- JSR Corporation (Japan)
- Engis Corporation (US)
- Ferro Corporation (US)
- 3M (US)
- SKC (South Korea)
- DuPont Incorporated (US)
- Fujifilm Holding America Corporation (US)
SIC Wafer Polishing Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 0.46 Billion |
| Market Size by 2032 | USD 8.27 Billion |
| CAGR | CAGR of 37.86% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Process Type (Mechanical polishing, Chemical-mechanical polishing (CMP), Electropolishing, Chemical polishing, Plasma-assisted polishing, Others) • By Product Type (Abrasive powders, Polishing pads, Diamond slurries, Colloidal silica suspensions, Others) • By Application (Power Electronics, Light-emitting diodes (LEDs), Sensors and detectors, Rf and microwave devices, Others) |
| Key Drivers | • Changing the power electronics market through SiC wafer polishing: the influence of transformation. • Rising interest in renewable energy stimulates need for SiC wafer polishing. |
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Growing Demand For SIC Wafer Polishing Driven By Automotive And Renewable Energy Sectors
The surging need for silicon carbide (SIC) wafers in power electronics, particularly for electric vehicles (EVs) and renewable energy applications, is significantly driving the SIC wafer polishing market. SIC’s superior thermal conductivity, high breakdown voltage, and performance at elevated temperatures make it essential for high-performance devices. Chemical-mechanical polishing (CMP) is critical for producing flawless SIC wafers, which are vital for ensuring optimal functionality in advanced power electronics. With EVs and efficient power converters becoming more prevalent, the demand for high-quality SIC wafer polishing is set to rise, fueling market growth and innovation.
CMP And Polishing Pads Are Essential Components Of The SIC Wafer Polishing Market.
Chemical-mechanical polishing (CMP) is the dominant process in the SIC wafer polishing market, commanding a notable 31% share of global revenue in 2023. CMP excels in removing surface defects and impurities, essential for high-quality semiconductor production. By combining chemical and mechanical methods, CMP achieves the necessary smoothness and flatness for advanced applications. Its prevalence is driven by its ability to deliver superior surface quality for power electronics, automotive, and telecommunications sectors. Innovations from companies like Applied Materials, Lam Research, and Tokyo Electron Limited enhance CMP’s effectiveness and efficiency, reinforcing its market leadership.
Polishing pads lead the SIC wafer polishing market, accounting for 34% of revenue in 2023. Their specialized design meets the demanding requirements of SIC wafer processing, ensuring superior smoothness and flatness. Companies like 3M and Dow Chemical drive innovation, enhancing efficiency and quality. As SIC wafers gain traction in automotive and electronics sectors, polishing pads remain crucial for maintaining high performance and meeting growing demand.
In 2023, North America dominated the SIC wafer polishing market with a 34% share, driven by its robust semiconductor ecosystem and technological advancements. The U.S. leads in R&D and production, with key players like Applied Materials and Lam Research enhancing CMP technologies. Supported by the CHIPS and Science Act, which promotes domestic semiconductor production, and expansions by GlobalWafers and Cree, North America is well-positioned to meet the growing demand for SIC wafers.
In 2023, Asia Pacific emerged as the second fastest-growing region in the SIC wafer polishing market, driven by a booming consumer electronics sector and increased use of SIC-based power devices. Rising population and disposable incomes have spiked demand for electronics, enhancing the need for high-quality polished SIC wafers. Innovations from Tokyo Electron, Entegris, and Toshiba Materials are advancing polishing technology, solidifying the region’s role in the global market.
Recent Development
• In July 2023, SKC decided to acquire ISC, a semiconductor test solution provider
• In August 2023, Entegris, Inc., an American company specializing in polishing SIC wafers, purchased the SIC wafer polishing division of Japan's Showa Denko K.K. for $700 million. The acquisition grants Entegris the ability to utilize Showa Denko's knowledge in creating and producing SIC wafer polishing pads and slurries.
• In September 2023, Lam Research Corporation, an American semiconductor equipment company, collaborated with Tokyo Electron Limited (TEL), a Japanese semiconductor equipment company, to create and market innovative SIC wafer cleaning equipment.
• October 2023: Beijing Semiconductor Research Equipment Co., Ltd., a Chinese company specializing in semiconductor equipment. (BSRI) collaborated with Aixtron SE, a semiconductor equipment company based in Germany, to create and bring to market innovative SIC wafer epitaxy equipment.
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Key Takeaways
- The rise in use of SIC semiconductors in automotive and renewable energy industries is fueling the market.
- Innovations in polishing techniques, such as PPDE and updated polishing materials, are aiding in the growth of the market.
- Polishing pads and CMP are the top categories, with the former experiencing the highest growth rate and the latter being the prevailing technology.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Wafer Production Volumes, by Region (2023)
5.2 Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. SiC Wafer Polishing Market Segmentation, by Process Type
7.1 Chapter Overview
7.2 Mechanical polishing
7.3 Chemical-mechanical polishing (CMP)
7.4 Electropolishing
7.5 Chemical polishing
7.6 Plasma-assisted polishing
7.7 Others
8. SiC Wafer Polishing Market Segmentation, by Product Type
8.1 Chapter Overview
8.2 Abrasive powders
8.3 Polishing pads
8.4 Diamond slurries
8.5 Colloidal silica suspensions
8.6 Others
9. SiC Wafer Polishing Market Segmentation, by Application
9.1 Chapter Overview
9.2 Power Electronics
9.3 Light-emitting diodes (LEDs)
9.4 Sensors and detectors
9.5 RF and microwave devices
9.6 Others
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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