Semi-Insulating Silicon Carbide Wafer Market Forecasts to 2030 - Global Analysis By Type (6 Inch SiC Wafer & 4 Inch SiC Wafer), Application (Wireless Infrastructure, Electronics & Optoelectronics, Power Devices & Other Applications) & By Geography

According to Stratistics MRC, the Global Semi-Insulating Silicon Carbide Wafer Market is accounted for $522 million in 2023 and is expected to reach $2,017 million by 2030 growing at a CAGR of 21.3% during the forecast period. A semiconductor material composed of silicon and carbon is referred to as a SiC wafer. SiC wafers are known for their high-temperature resistance, semiconductors, insulation, and thermal management materials. Semi-Insulating Silicon Carbide Wafer play a crucial role in the fabrication of high-frequency and high-power electronic devices, such as radio frequency (RF) and power amplifiers, due to their ability to mitigate electrical conductivity and minimize signal interference.

According to a study published by the China Association of Automobile Manufacturers; SiC investments are largely correlated with China's EV production, and they increase with the increase in EV production.

Market Dynamics:

Driver:

Growing demand for high-frequency electronics

As industries increasingly rely on advanced technologies, particularly in telecommunications and wireless communication systems, there is a surge in the need for electronic devices capable of operating at higher frequencies. Semi-insulating SiC wafers play a pivotal role in the fabrication of radio frequency (RF) components, such as amplifiers and transistors, due to their unique semi-insulating properties that reduce signal interference and enhance overall device performance. Furthermore, with the ongoing deployment of 5G networks and the continuous evolution of communication technologies, the demand for SiC wafers rises sharply.

Restraint:

High manufacturing costs

The production of these wafers involves sophisticated processes and requires high-purity raw materials, contributing to elevated manufacturing expenses. The complexity of manufacturing, which includes precise crystal growth and stringent quality control measures, adds to the overall cost of SiC wafer production. As a result, the market faces challenges in offering competitive pricing for these wafers, impacting their broader adoption across industries. However, the high initial investment required for the advanced equipment and technologies involved in SiC wafer fabrication further contributes to the cost barrier.

Opportunity:

Global expansion of electric vehicles

As the automotive industry undergoes a transformative shift towards electrification, the demand for advanced power electronics is on the rise. SiC wafers play a crucial role in enhancing the efficiency and performance of power electronics components in EVs. With their unique properties, including high-temperature tolerance and improved power handling capabilities, SiC wafers contribute to the development of more energy-efficient and compact electric drivetrains. The increasing adoption of electric vehicles worldwide amplifies the need for SiC-based power electronics, leading to a higher demand for these wafers.

Threat:

Competition from other semiconductor materials

While SiC wafers offer unique advantages such as high-temperature tolerance and improved power handling capabilities, they face competition from established materials like silicon and gallium arsenide. Silicon, in particular, has a long-standing presence in the semiconductor industry, and its well-established manufacturing processes and lower costs can make it a preferred choice for certain applications. Gallium arsenide, known for its high electron mobility, competes in specific niche markets. The challenge for SiC wafers lies in convincing industries to transition from traditional materials to newer, albeit superior, alternatives.

Covid-19 Impact:

The global disruptions in supply chains, temporary shutdowns of manufacturing facilities, and economic uncertainties significantly affected the production and distribution of SiC wafers. The semiconductor industry faced challenges in meeting demand as a result of workforce shortages, logistics constraints, and delays in project timelines. However, the pandemic-induced economic downturn also led to a slowdown in investments and projects across various sectors, influencing the demand for SiC wafers.

The 6 Inch SiC Wafer segment is expected to be the largest during the forecast period

6 Inch SiC Wafer segment is expected to be the largest during the forecast period. The larger wafer diameter provides greater surface area for semiconductor device fabrication, enabling the production of more electronic components per wafer and improving manufacturing efficiency. This leads to cost savings and economies of scale, making 6-inch SiC wafers increasingly attractive for high-volume production. Moreover, the larger wafer size aligns with the industry's trend towards larger wafer diameters, fostering compatibility with existing semiconductor manufacturing equipment and processes.

The Wireless Infrastructure segment is expected to have the highest CAGR during the forecast period

Wireless Infrastructure segment is expected to have the highest CAGR during the forecast period. With the global expansion of wireless communication technologies, particularly the deployment of 5G networks, there is an escalating demand for high-frequency electronic components. SiC wafers, known for their superior electrical properties and ability to operate efficiently at elevated frequencies, are essential in the fabrication of radio frequency (RF) components such as power amplifiers and transceivers within wireless infrastructure. Furthermore, the inherent benefits of SiC, including reduced signal interference and enhanced power handling capabilities, make these wafers indispensable for the development of reliable and high-performance wireless communication systems.

Region with largest share:

The adoption of high-tech power devices and high-end gadgets at lower prices has increased the consumption of electronics products throughout the Asia Pacific region, which held the largest share over the projection period. The development of a 5G infrastructure network by major telecom companies in the nation is contributing to the growth of the SiC wafer industry. Furthermore, as more automobiles in the nation become electrified, there is a greater need for semi-insulating silicon carbide wafer.

Region with highest CAGR:

Europe region is growing at a rapid pace over the extrapolated period, due to the increased use of power electronics and the increasing shift towards renewable energy sources. The growth of the semi-insulating silicon carbide wafer market is being assisted and encouraged by the developments in the automotive sector in European nations such as Germany. Furthermore, ongoing advancements in the manufacturing processes of semi-insulating SiC wafers, aimed at improving material quality, scalability, and cost-effectiveness, act as drivers for market growth in the region.

Key players in the market

Some of the key players in Semi-Insulating Silicon Carbide Wafer market include Belden Inc, CETC Solar Energy Holdings Co., Ltd, Datwyler Holding Inc, GM Plast A/S, Prysmian Group, ROHM CO., LTD, SK siltron Co. Ltd, STMicroelectronics and TankeBlue CO., LTD.

Key Developments:

In May 2022, Rhombus Energy Solutions, a EV charging and power conversion technology company, announced that Wolfspeed is supplying SiC technology to improve the efficiency, power density and quicker charging time of their products

In March 2022, Showa Denko starts mass production of a 6-inch diameter silicon carbide single crystal wafer which will improve downsizing and energy efficiency of a power module.

In March 2022, SK Siltron to Invest KRW1tr to Expand Wafer Production Facilities. The company announced that it has decided to invest 1.05 trillion won over the next three years to expand its facilities for 300 mm wafers, which are located in Gumi National Industrial Complex 3.

Types Covered:

• 6 Inch SiC Wafer
• 4 Inch SiC Wafer

Applications Covered:

• Wireless Infrastructure
• Electronics & Optoelectronics
• Power Devices
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances