Silicon Carbide Wafer Market Size, Share, Growth and Global Industry Analysis, By Type (4 Inch, 6 Inch and 8 Inch), By Application (Power Device, Electronics & Optoelectronics, Wireless Infrastructure and Others), Regional Insights, and Forecast 2024 To 2031

Silicon Carbide Wafer Market Report Overview

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The global silicon carbide wafer market size was USD 759.1 million in 2022 and is projected to touch USD 2630.12 million by 2031, at a CAGR of 14.8% during the forecast period. 

In many electronic gadgets and microelectronic chips, silicon carbide wafer is a semiconductor wafer that is employed. Great electron mobility, high temperature stability, and high power density are all features of silicon carbide wafers. It also has outstanding thermal conductivity qualities and is capable of operating at very high temperatures.

COVID-19 Impact: Impact on the Supply and Demand of Semiconductor Fabrication due to the Worldwide Lockdowns and Curfews Imposed

The global COVID-19 pandemic has been unprecedented and staggering; with the silicon carbide wafer market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is a byproduct of the silicon carbide wafer market growth and demand returning to pre-pandemic levels once the pandemic is over.

Both the supply and demand sides of the market for semiconductor fabrication were impacted by the COVID-19 epidemic. Additionally, the worldwide curfew and the closure of semiconductor plants made the supply shortage worse. The market for silicon carbide wafers also showed the consequences. But many of these impacts were just temporary. Governments around the world might stimulate industry growth by taking preventative measures to support the semiconductor sector.

LATEST TRENDS

"Establishment of Leadership in Semiconductor Technology through the Development of the Bulk Wafer for Next-Generation Power Device Prototypes"

STMicroelectronics stated on July 27, 2021 that the Norrköping, Sweden facility had created the first 200mm (8-inch) Silicon-Carbide bulk wafers for producing prototypes of next-generation power devices. Moving to 200mm SiC wafers marks a considerable improvement in ST's capacity growth for customer programmes in the automotive sector and further solidifies ST's leadership in the revolutionary semiconductor technology that makes lighter and more economical power electronics possible.

Silicon Carbide Wafer Market Segmentation

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• By Type

Based on type, the market is distributed into 4 Inch, 6 Inch and 8 Inch

• By Application

Based on application, the market is divided into Power Device, Electronics & Optoelectronics, Wireless Infrastructure and Others

DRIVING FACTORS

"Variety of Uses in Wireless Communication Devices make the Wafers Suitable to be Utilized in a Range of Businesses"

The requirement for silicon carbide wafers is rising across a range of businesses, including communications, power generation, automotive, renewable energy sources, and others. This is a major element fueling the silicon carbide wafer market growth. The main reason silicon carbide wafers are employed in high wattage devices with a variety of uses in wireless communications is because of their heat conductivity properties. Wafer reclaiming and operations strategy will become more and more important as the market expands and enterprises handle more wafers.

"Number of Advantages Offered by the Product make it the Best Choice to Utilize in the Aviation Business "

The aviation sector is constantly seeking ways to reduce the cost of flying. The use of SiC in aviation has a number of benefits, such as making it simple to produce lightweight components, which is fueling market revenue growth. SiC is a way of decreasing the weight and size of airplane switching power technology. Elevated concentrations of heat, power, and voltage are some uses for SiC that are appropriate. SiC also functions at degrees which are too extreme for regular silicon. To deal with electronics cooling systems that add weight and reduce the operating reliability of high-performance aircraft, silicon carbide electronics, such as the liquid cooling system used in the F-22, may be used.

RESTRAINING FACTORS

"Various Disadvantages Associated with the Manufacture of these Wafers can Hinder the Expansion of this Sector"

The market for silicon carbide wafers may be seriously hampered by the release of hazardous gasses during manufacture. SiC products cost more than Si raw materials because SiC is produced commercially at high temperatures, but Si can be easily recovered from naturally occurring silica. The price of producing devices for foundries and fabrication facilities has increased as a result of factors including a decrease in the number of these facilities.

Due to a lack of modern, technology-based equipment, the final phases of assembly, testing, and packaging are also more expensive. Additionally, the switch to gallium nitride wafers for semiconductor applications and the release of dangerous gasses during silicon carbide production could pose a serious threat to the expansion of the market's revenue. Contact with silicon carbide can irritate the nose and eyes. The development of the silicon carbide market is being severely impacted by pneumoconiosis, a chronic lung ailment characterized by anomalies on chest x-rays and a reduction in lung function, including coughs, wheezing, and breathlessness.

Silicon Carbide Wafer Market Regional Insights

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"Growing Use of Electronic Devices in the Region is Causing Asia Pacific to Lead in the Market"

Due to the increasing use of electronic devices in nations, particularly in China, India, Japan, and South Korea, the Asia Pacific market is anticipated to grow at the fastest rate throughout the forecast period. Semikron, one of the top producers of powder modules and systems worldwide, was contracted by STMicroelectronics, a leading global semiconductor company, to deliver silicon carbide technology for Empack electric vehicle powder modules. China is where 97% of the world's silicon wafer production is produced, according to the U.S. Department of Energy. Manufacturing is boosted and the quick adoption of electric vehicles (EVs) is made possible by growing government initiatives and business investments in this region. These factors are causing the region to lead in the silicon carbide wafer market share during the anticipated time frame.

KEY INDUSTRY PLAYERS

"Forming of Alliances between the Manufacturers to help them Diversify their Products "

Silicon carbide wafers are sold in a cutthroat market. With several major competitors active on both a global and regional scale, the silicon carbide wafer market competitive environment is fragmented globally. Key players are working on new products and forming alliances in order to diversify their product lines and establish strong footing on the international market. The market study includes profiles of several significant companies, including Wolfspeed, Inc., II-VI Incorporated, Showa Denko K.K., SICC Co., Ltd., and Xiamen Powerway Advanced Material Co.

LIST OF TOP SILICON CARBIDE WAFER COMPANIES

• Wolfspeed (U.S.)
• SK Siltron (South Korea)
• SiCrystal (Germany)
• II-VI Advanced Materials (U.S.)
• Showa Denko (Japan)
• Norstel (Sweden)
• TankeBlue (Beijing)
• SICC (India)
• Hebei Synlight Crystal (China)
• CETC (China)

REPORT COVERAGE

This report covers the silicon carbide wafer market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.