SiC wafer Market Size is projected to reach USD 2.94 Billion by 2031, growing at a CAGR of 15.3%: Straits Research

New York, United States, March 15, 2023 (GLOBE NEWSWIRE) -- Silicon carbide epitaxial wafers are made by placing multi-micrometer thick single silicon carbide crystal layers on top of a polished wafer. Precision control of thickness, doping, and defect density is necessary to create high-yielding power devices from a semiconductor fabrication facility. High temperature, radiation resistance, and short-wavelength optoelectronic applications typically use silicon carbide-based devices. Research facilities and businesses that make small- and large-scale semiconductor devices have used SiC wafers extensively. Global demand for high-performance semiconductors and the rise in innovative end-user applications are two key factors driving the silicon carbide epitaxial wafer market.

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Increasing Market Share of Electric Vehicles and the Trend towards High-voltage EV ArchitecturesDrives the Global Market

In the United States, there were more than three times as many publicly accessible charging stations in 2020 as there were in 2015, when there were fewer than 32,000 of them, according to IEA data. According to IEA estimates, the number might rise from 800,000 to 1.7 million by the decade's end, depending on governmental actions. The automotive industry's shift toward high-voltage EV platforms has been pushed by the need for electric vehicles (EVs) with quicker charging periods and longer ranges. Important manufacturers have introduced vehicles with 800 V-setting architectures, including the Porsche Taycan, Hyundai Ioniq 5, and Audi Q6 e-Tron.

The rise in EV adoption and the shift to high-voltage 800 V EV layouts are expected to increase demand for silicon carbide (SiC) wafers in the global automotive market. More than 20,000 copies of Porsche's high-end Taycan EV, the first car from a major automaker with an 800 V battery, were delivered. A supplier, Delphi Technologies, announced in September 2020 that it would give 800 V inverters to a manufacturer of high-end electric vehicles. The supply deal will take effect in 2024 throughout the manufacturer's EV lineup.

Increasing Demand for SiC Wafers in Power Electronics Switches and LED Lighting Devices due to their High Thermal Conductivity Creates Tremendous Opportunities

In the production process, particular SiC wafers and substrates are made, and then SiC-based power semiconductors are processed in a fab. Many SiC-based power semiconductors are used in power electronics, which convert and control the flow of electricity in systems. Power electronics play a critical role in the global electrical grid. Computers, renewable energy (solar, wind), industry (motor drives), and transportation (cars, trains) all make use of the approach (power supplies). The creation of LEDs is another application for SiC. Power electronics transform or convert alternating and direct currents.

The electrification of the transportation infrastructure is also driving the market shift to SiC-based power electronics, a wide-bandgap semiconductor that makes power electronics more minor, more efficient, and at a lower overall system-level cost of ownership than advanced silicon-based devices. SiC semiconductors are also rising in popularity due to their advantages. Many companies focus on developing SiC power semiconductors to keep up with the surging demand. Recently, Bosch has begun mass-producing SiC power semiconductors.

Report Scope

Report Metric	Details
Market Size	USD 2.94 billion by 2031
CAGR	15.3% (2023-2031)
Historical Data	2020-2021
Base Year	2022
Forecast Period	2023-2031
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Wafer Size, Applications, End-User Industry
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Wolfspeed Inc., II-VI Incorporated, Dow, STMicroelectronics (Norstel AB), Showa Denko KK, Shin-Etsu Chemical Co. Ltd, SK Siltron Co. Ltd, SiCrystal GmbH, TankeBlue Co. Ltd, Semiconductor Wafer Inc.
Key Market Opportunities	Increasing Demand for SiC Wafers in Power Electronics Switches and LED Lighting Devices
Key Market Drivers	Increasing Market Share of Electric Vehicles and the Trend towards High-voltage EV Architectures

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Regional Analysis 

North America is the most significant revenue contributor and is expected to grow at a CAGR of 15.7% during the forecast period. In terms of semiconductor manufacture, design, and research, North America is at the forefront of adopting new technologies. The development of the SiC wafer market in North America is strongly correlated with the growth of end-user industries like automotive, energy, IT and telecommunications, military and aerospace, and consumer electronics. Silicon carbide technology has the potential to revolutionize the energy industry and inspire regional companies to make new product investments. Since GaN on Silicon Carbide is an appealing technology, players concentrate on developing new products. Even though Canada can be regarded as lacking a substantial electronics and semiconductor industry, the area boasts a sizable market for goods that utilize or contain semiconductors.

Europe is expected to grow at a CAGR of 15.5% during the forecast period. Europe is a significant innovator and user of modern technology and is also the location of some of the world's most important tech hubs. The market is growing since more modern technologies and semiconductors are being adopted by many industries. Since international businesses supply regional firms with essential parts and wafers, the market in the area is further strengthened. Europe, one of the critical auto markets, produces a sizable amount of the world's automobiles. According to the ACEA, the region has more than 19.2 million cars, vans, trucks, and buses yearly. The fact that foreign businesses are supplying vital parts and wafers to local companies further supports the area's market. For instance, a supply agreement for a wide range of silicon carbide materials (SiC), including epitaxy, was inked by the Japanese wafer manufacturer Showa Denko KK and the German semiconductor business Infineon Technologies AG. With more base materials available, Infineon Technologies AG was able to address the rising demand for SiC-based products.

Key Highlights

• The global SiC wafer market size is projected to reach USD 2.94 billion by 2031, growing at a CAGR of 15.30% during the forecast period (2023-2031). 

• Based on wafer size, the global SiC wafer market is bifurcated into 2-, 3-, 4-inch, 6-inch, 8-, and 12-inch. The 2-, 3-, and 4-inch segment is the highest contributor to the market and is estimated to grow at a CAGR of 14.2% during the forecast period.

• Based on application, the global SiC wafer market is bifurcated into power, radio frequency (RF), and other applications. The power segment is the highest contributor to the market and is estimated to grow at a CAGR of 15.7% during the forecast period.

• Based on end-user industry, the global SiC wafer market is bifurcated into telecom and communications, electric vehicles (EVs), photovoltaic/power supply/energy storage, industrial (ups and motor drives, etc.), and other end-user industries. The telecom and communications segment is the highest contributor to the market and is estimated to grow at a CAGR of 15.7% during the forecast period.

• North America is the most significant revenue contributor and is expected to grow at a CAGR of 15.7% during the forecast period.

Competitive Players

1. Wolfspeed Inc.
2. II-VI Incorporated
3. Dow
4. STMicroelectronics (Norstel AB)
5. Showa Denko KK
6. Shin-Etsu Chemical Co. Ltd
7. SK Siltron Co. Ltd
8. SiCrystal GmbH
9. TankeBlue Co. Ltd
10. Semiconductor Wafer Inc.

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Global SiC Wafer Market: Segmentation

By Wafer Size

• 2, 3, and 4-inch
• 6-inch
• 8 and 12-inch

By Applications

• Power
• Radio Frequency (RF)
• Other Applications

By End-User Industry 

• Telecom and Communications
• Electric Vehicles (EVs)
• Photovoltaic/Power Supply/Energy Storage
• Industrial (UPS and Motor Drives, etc.)
• Other End-user Industries

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA

TABLE OF CONTENT

1. EXECUTIVE SUMMARY
2. RESEARCH SCOPE & SEGMENTATION
   1. Research Objectives
   2. Market Definition
   3. Limitations & Assumptions
   4. Market Scope & Segmentation
   5. Currency & Pricing Considered
3. MARKET OPPORTUNITY ASSESSMENT
   1. Emerging Regions / Countries
   2. Emerging Companies
   3. Emerging Applications / End Use
   4. Investment Landscape
   5. New Business Models / Revenue Streams
   6. TAM
4. MARKET TRENDS
   1. Drivers
   2. Market Warning Factors
   3. Latest Macro Economic Indicators
   4. Geopolitical Impact
   5. Human Factors
   6. Technology Factors
5. MARKET ASSESSMENT
   1. Porters Five Forces Analysis
   2. Value Chain Analysis
   3. Raw Material Analysis
   4. Sales And Distribution Channel Analysis
   5. Trade Analysis
   6. Average Pricing Analysis
   7. Case Study Analysis
   8. Patent Analysis
   9. M & A Agreements & Collabration Analysis
   10. Export Import Analysis
   11. Cost Structure Analysis
6. ESG TRENDS
7. GLOBAL SIC WAFER MARKET SIZE ANALYSIS
   1. Global SiC Wafer Market Introduction
   2. By Wafer Size
      1. Introduction
         1. Wafer Size By Value
      2. 2, 3, And 4-Inch
         1. By Value
      3. 6-Inch
         1. By Value
      4. 8 And 12-Inch
         1. By Value
   3. By Applications
      1. Introduction
         1. Applications By Value
      2. Power
         1. By Value
      3. Radio Frequency (RF)
         1. By Value
      4. Other Applications
         1. By Value
   4. By End-User Industry 
      1. Introduction
         1. End-User Industry  By Value
      2. Telecom And Communications
         1. By Value
      3. Electric Vehicles (EVs)
         1. By Value
      4. Photovoltaic/Power Supply/Energy Storage
         1. By Value
      5. Industrial (UPS And Motor Drives, Etc.)
         1. By Value
      6. Other End-User Industries
         1. By Value
8. NORTH AMERICA MARKET ANALYSIS
   1. Introduction
   2. By Wafer Size
      1. Introduction
         1. Wafer Size By Value
      2. 2, 3, And 4-Inch
         1. By Value
      3. 6-Inch
         1. By Value
      4. 8 And 12-Inch
         1. By Value
   3. By Applications
      1. Introduction
         1. Applications By Value
      2. Power
         1. By Value
      3. Radio Frequency (RF)
         1. By Value
      4. Other Applications
         1. By Value
   4. By End-User Industry 
      1. Introduction
         1. End-User Industry  By Value
      2. Telecom And Communications
         1. By Value
      3. Electric Vehicles (EVs)
         1. By Value
      4. Photovoltaic/Power Supply/Energy Storage
         1. By Value
      5. Industrial (UPS And Motor Drives, Etc.)
         1. By Value
      6. Other End-User Industries
         1. By Value
   5. U.S.
      1. By Wafer Size
         1. Introduction
            1. Wafer Size By Value
         2. 2, 3, And 4-Inch
            1. By Value
         3. 6-Inch
            1. By Value
         4. 8 And 12-Inch
            1. By Value
      2. By Applications
         1. Introduction
            1. Applications By Value
         2. Power
            1. By Value
         3. Radio Frequency (RF)
            1. By Value
         4. Other Applications
            1. By Value
      3. By End-User Industry 
         1. Introduction
            1. End-User Industry  By Value
         2. Telecom And Communications
            1. By Value
         3. Electric Vehicles (EVs)
            1. By Value
         4. Photovoltaic/Power Supply/Energy Storage
            1. By Value
         5. Industrial (UPS And Motor Drives, Etc.)
            1. By Value
         6. Other End-User Industries
            1. By Value
   6. Canada
9. EUROPE MARKET ANALYSIS
   1. Introduction
   2. By Wafer Size
      1. Introduction
         1. Wafer Size By Value
      2. 2, 3, And 4-Inch
         1. By Value
      3. 6-Inch
         1. By Value
      4. 8 And 12-Inch
         1. By Value
   3. By Applications
      1. Introduction
         1. Applications By Value
      2. Power
         1. By Value
      3. Radio Frequency (RF)
         1. By Value
      4. Other Applications
         1. By Value
   4. By End-User Industry 
      1. Introduction
         1. End-User Industry  By Value
      2. Telecom And Communications
         1. By Value
      3. Electric Vehicles (EVs)
         1. By Value
      4. Photovoltaic/Power Supply/Energy Storage
         1. By Value
      5. Industrial (UPS And Motor Drives, Etc.)
         1. By Value
      6. Other End-User Industries
         1. By Value
   5. U.K.
      1. By Wafer Size
         1. Introduction
            1. Wafer Size By Value
         2. 2, 3, And 4-Inch
            1. By Value
         3. 6-Inch
            1. By Value
         4. 8 And 12-Inch
            1. By Value
      2. By Applications
         1. Introduction
            1. Applications By Value
         2. Power
            1. By Value
         3. Radio Frequency (RF)
            1. By Value
         4. Other Applications
            1. By Value
      3. By End-User Industry 
         1. Introduction
            1. End-User Industry  By Value
         2. Telecom And Communications
            1. By Value
         3. Electric Vehicles (EVs)
            1. By Value
         4. Photovoltaic/Power Supply/Energy Storage
            1. By Value
         5. Industrial (UPS And Motor Drives, Etc.)
            1. By Value
         6. Other End-User Industries
            1. By Value
   6. Germany
   7. France
   8. Spain
   9. Italy
   10. Russia
   11. Nordic
   12. Benelux
   13. Rest Of Europe
10. APAC MARKET ANALYSIS
    1. Introduction
    2. By Wafer Size
       1. Introduction
          1. Wafer Size By Value
       2. 2, 3, And 4-Inch
          1. By Value
       3. 6-Inch
          1. By Value
       4. 8 And 12-Inch
          1. By Value
    3. By Applications
       1. Introduction
          1. Applications By Value
       2. Power
          1. By Value
       3. Radio Frequency (RF)
          1. By Value
       4. Other Applications
          1. By Value
    4. By End-User Industry 
       1. Introduction
          1. End-User Industry  By Value
       2. Telecom And Communications
          1. By Value
       3. Electric Vehicles (EVs)
          1. By Value
       4. Photovoltaic/Power Supply/Energy Storage
          1. By Value
       5. Industrial (UPS And Motor Drives, Etc.)
          1. By Value
       6. Other End-User Industries
          1. By Value
    5. China
       1. By Wafer Size
          1. Introduction
             1. Wafer Size By Value
          2. 2, 3, And 4-Inch
             1. By Value
          3. 6-Inch
             1. By Value
          4. 8 And 12-Inch
             1. By Value
       2. By Applications
          1. Introduction
             1. Applications By Value
          2. Power
             1. By Value
          3. Radio Frequency (RF)
             1. By Value
          4. Other Applications
             1. By Value
       3. By End-User Industry 
          1. Introduction
             1. End-User Industry  By Value
          2. Telecom And Communications
             1. By Value
          3. Electric Vehicles (EVs)
             1. By Value
          4. Photovoltaic/Power Supply/Energy Storage
             1. By Value
          5. Industrial (UPS And Motor Drives, Etc.)
             1. By Value
          6. Other End-User Industries
             1. By Value
    6. Korea
    7. Japan
    8. India
    9. Australia
    10. Taiwan
    11. South East Asia
    12. Rest Of Asia-Pacific
11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By Wafer Size
       1. Introduction
          1. Wafer Size By Value
       2. 2, 3, And 4-Inch
          1. By Value
       3. 6-Inch
          1. By Value
       4. 8 And 12-Inch
          1. By Value
    3. By Applications
       1. Introduction
          1. Applications By Value
       2. Power
          1. By Value
       3. Radio Frequency (RF)
          1. By Value
       4. Other Applications
          1. By Value
    4. By End-User Industry 
       1. Introduction
          1. End-User Industry  By Value
       2. Telecom And Communications
          1. By Value
       3. Electric Vehicles (EVs)
          1. By Value
       4. Photovoltaic/Power Supply/Energy Storage
          1. By Value
       5. Industrial (UPS And Motor Drives, Etc.)
          1. By Value
       6. Other End-User Industries
          1. By Value
    5. UAE
       1. By Wafer Size
          1. Introduction
             1. Wafer Size By Value
          2. 2, 3, And 4-Inch
             1. By Value
          3. 6-Inch
             1. By Value
          4. 8 And 12-Inch
             1. By Value
       2. By Applications
          1. Introduction
             1. Applications By Value
          2. Power
             1. By Value
          3. Radio Frequency (RF)
             1. By Value
          4. Other Applications
             1. By Value
       3. By End-User Industry 
          1. Introduction
             1. End-User Industry  By Value
          2. Telecom And Communications
             1. By Value
          3. Electric Vehicles (EVs)
             1. By Value
          4. Photovoltaic/Power Supply/Energy Storage
             1. By Value
          5. Industrial (UPS And Motor Drives, Etc.)
             1. By Value
          6. Other End-User Industries
             1. By Value
    6. Turkey
    7. Saudi Arabia
    8. South Africa
    9. Egypt
    10. Nigeria
    11. Rest Of MEA
12. LATAM MARKET ANALYSIS
    1. Introduction
    2. By Wafer Size
       1. Introduction
          1. Wafer Size By Value
       2. 2, 3, And 4-Inch
          1. By Value
       3. 6-Inch
          1. By Value
       4. 8 And 12-Inch
          1. By Value
    3. By Applications
       1. Introduction
          1. Applications By Value
       2. Power
          1. By Value
       3. Radio Frequency (RF)
          1. By Value
       4. Other Applications
          1. By Value
    4. By End-User Industry 
       1. Introduction
          1. End-User Industry  By Value
       2. Telecom And Communications
          1. By Value
       3. Electric Vehicles (EVs)
          1. By Value
       4. Photovoltaic/Power Supply/Energy Storage
          1. By Value
       5. Industrial (UPS And Motor Drives, Etc.)
          1. By Value
       6. Other End-User Industries
          1. By Value
    5. Brazil
       1. By Wafer Size
          1. Introduction
             1. Wafer Size By Value
          2. 2, 3, And 4-Inch
             1. By Value
          3. 6-Inch
             1. By Value
          4. 8 And 12-Inch
             1. By Value
       2. By Applications
          1. Introduction
             1. Applications By Value
          2. Power
             1. By Value
          3. Radio Frequency (RF)
             1. By Value
          4. Other Applications
             1. By Value
       3. By End-User Industry 
          1. Introduction
             1. End-User Industry  By Value
          2. Telecom And Communications
             1. By Value
          3. Electric Vehicles (EVs)
             1. By Value
          4. Photovoltaic/Power Supply/Energy Storage
             1. By Value
          5. Industrial (UPS And Motor Drives, Etc.)
             1. By Value
          6. Other End-User Industries
             1. By Value
    6. Mexico
    7. Argentina
    8. Chile
    9. Colombia
    10. Rest Of LATAM
13. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. SiC Wafer Market Share By Manufacturers
    3. SiC Wafer Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
14. MARKET PLAYERS ASSESSMENT
    1. Wolfspeed Inc.
       1. Overview
       2. Business Information
       3. Revenue
       4. ASP
       5. Gross Margin
       6. Swot Analysis
       7. Recent Developmments
    2. II-VI Incorporated
    3. Dow
    4. STMicroelectronics (Norstel AB)
    5. Showa Denko KK
    6. Shin-Etsu Chemical Co. Ltd
    7. SK Siltron Co. Ltd
    8. SiCrystal GmbH
    9. TankeBlue Co. Ltd
    10. Semiconductor Wafer Inc.
15. RESEARCH METHODOLOGY
    1. Research Data
       1. Secondary Data
          1. Major Secondary Sources
          2. Key Data From Secondary Sources
       2. Primary Data
          1. Key Data From Primary Sources
          2. Breakdown Of Primaries
       3. Secondary And Primary Research
          1. Key Industry Insights
    2. Market Size Estimation
       1. Bottom-Up Approach
       2. Top-Down Approach
       3. Market Projection
    3. Research Assumptions
       1. Assumptions
    4. Limitations
    5. Risk Assessment
16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
17. DISCLAIMER

Table of Content @ https://straitsresearch.com/report/sic-wafer-market/toc

Market News

• In March 2022, II-VI Incorporated acceleratedinvestment in Silicon Carbide Substrate and Epitaxial Wafer Manufacturing with Large-Scale Factory Expansions in Pennsylvania and Sweden.
• In April 2022, Wolfspeedopened the World's Largest 200mm Silicon Carbide Fab, Enabling highly anticipated device production.

News Media

Global Silicon Metal Market Grows Steadily at a CAGR of 5.8%

Burgeoning Global Mining and Construction Activities Drives the Tungsten Carbide Market

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