Pune, India, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The Semi-insulating Silicon Carbide Wafer Market size was valued at USD 367.8 million in 2021. It is projected to reach USD 1,460.1 Million by 2029 at a CAGR of 19.1% during the forecast period. The market is anticipated to stimulate due to the rise in the application of SiC wafers in the usage of power electronics and semiconductor industry. Fortune Business Insights™ stated this in a report titled, "Semi-Insulating Silicon Carbide Wafer Market, 2022-2029."
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Industry Developments:
6-inch diameter silicon carbide single crystal wafer mass production starts by Showa Denko starts which will improve energy efficiency of a power module and downsizing.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 19.1% |
| 2029 Value Projection | USD 1,460.1 Million |
| Base Year | 2021 |
| Semi-Insulating Silicon Carbide Wafer Market Size in 2021 | USD 367.8 Million |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 158 |
| Segments covered | Type; Application; |
| Semi-Insulating Silicon Carbide Wafer Market Growth Drivers | Hefty Investment in R&D & SiC Wafers Production Will likely to Accelerate Product Demand |
| High Cost and Complex Manufacturing Process Limits Market Growth |
COVID-19 Impact:
Decline in Manufacturing Operations hinders Market Growth
A considerable impact of COVID-19 has had on the semi-insulating Silicon Carbide (SiC) Wafer market. Delay in the delivery of essential parts because of global recession and a halt in manufacturing activities; there was a decline in sales, which resulted in a significant loss during the initial phase of the outbreak. Furthermore, due to the inclination toward R&D and government initiatives could help revive industry growth.
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Drivers and Restraints
Growing Advancements in Telecommunication Industry Will Accelerate Product Demand
The growing advancements in the telecommunication industry in setting up 5G networks have spurred the demand for the product. Furthermore, the incorporation of strategic alliances by key players to upscale their R&D capabilities in the electric vehicle sector has considerably stimulated the demand for the power semiconductor industry to a great extent. Meanwhile, due to its high refractive index and transparency make it hard to detect the surface defect that could impede the semi-insulating Silicon Carbide (SiC) Wafer market growth.
Regional Insights
Soaring Investments in the Iron and Steel Industry Encourages Growth in Asia Pacific
Asia Pacific has projected prominent semi-insulating Silicon Carbide Wafer market share during the forecast period due to robust economic progress of the countries and soaring investments in the iron and steel industry across the region.
North America is expected to lead the market during the forecast period due to the rising adoption of SiC wafers in electric vehicles and presence of key market players such as Wolf speed Inc.
Europe is expected to showcase significant growth due to the increasing transition towards energy could favor the region's growth.
Competitive Landscape
Key Players Investing in New Product Launches to develop Better Manufacturing Facilities
Leading companies such as Wolf speed Inc., will likely invest in state-of-the-art manufacturing facilities and advanced launches to establish their footprints in the marketplace. Furthermore, with rising investments in high-tech solutions and the introduction of key players are trying to the increasing demand for SiC wafer.
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Report Coverage
The report provides insights into the regional analysis covering different regions, contributing to the market's growth. The report includes qualitative and quantitative analysis of several factors, such as the key drivers and restraints that will impact the market. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market's growth.
Segmentation-
Rising Applications in Semiconductor Sector Spurs 6 Inch SiC Wafer Segment
On the basis of type, the global market is divided into 4 Inch SiC Wafer and 6 Inch SiC Wafer. The 6 Inch SiC Wafer segment will dominate due to its rising applications in the semiconductor industry, such as high thermal capacity, high-speed wideband, and excellent heat-resistive properties.
Rising Application in Automotive Sector will Amplify Product Demand
Based on application, the market is classified into Power Device, Electronics & Optoelectronics, Wireless Infrastructure, and others. The power device segment will rule due to rising applications in the automotive sector.
List of Key Players Mentioned in the Report:
- WOLFSPEED, INC. (U.S.)
- II-VI Incorporated (U.S.)
- STMicroelectronics (Switzerland)
- ROHM CO., LTD (Japan)
- SHOWA DENKO K.K. (Japan)
- SICC Co., Ltd. (China)
- SK siltron Co. Ltd. (South Korea)
- TankeBlue CO., LTD. (China)
- CETC Solar Energy Holdings Co., Ltd. (China)
- Synlight (China)
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Semi-Insulating Silicon Carbide Wafer Key Players Market Share Insights and Analysis, 2021
- Global Semi-Insulating Silicon Carbide Wafer Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Type (USD Million)
- 4 Inch SiC Wafer
- 6 Inch SiC Wafer
- By Application (USD Million)
- Power Device
- Electronics & Optoelectronics
- Wireless Infrastructure
- Others
- By Region (USD Million)
- North America
- Latin America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Semi-Insulating Silicon Carbide Wafer Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Type (USD Million)
- 4 Inch SiC Wafer
- 6 Inch SiC Wafer
- By Application (USD Million)
- Power Device
- Electronics & Optoelectronics
- Wireless Infrastructure
- Others
- By Country (USD Million)
- United States
- Canada
- Latin America Semi-Insulating Silicon Carbide Wafer Market Size Estimates and Forecasts , By Segments, 2018-2029
- Key Findings
- By Type (USD Million)
- 4 Inch SiC Wafer
- 6 Inch SiC Wafer
- By Application (USD Million)
- Power Device
- Electronics & Optoelectronics
- Wireless Infrastructure
- Others
- By Country (USD Million)
- Brazil
- Mexico
- Rest of Latin America
- Europe Semi-Insulating Silicon Carbide Wafer Market Size Estimates and Forecasts , By Segments, 2018-2029
- Key Findings
- By Type (USD Million)
- 4 Inch SiC Wafer
- 6 Inch SiC Wafer
- By Application (USD Million)
- Power Device
- Electronics & Optoelectronics
- Wireless Infrastructure
- Others
- By Country (USD Million)
- Germany
- U.K.
- France
- Italy
- Rest of Europe
- Asia Pacific Semi-Insulating Silicon Carbide Wafer Market Size Estimates and Forecasts , By Segments, 2018-2029
- Key Findings
- By Type (USD Million)
- 4 Inch SiC Wafer
- 6 Inch SiC Wafer
- By Application (USD Million)
- Power Device
- Electronics & Optoelectronics
- Wireless Infrastructure
- Others
- By Country (USD Million)
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
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