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Semi-insulating Silicon Carbide (SiC) Wafer Market to Touch USD 1,460.1 Million in 2029; Rising Inclination towards R&D are Investing Heavily to cater to the Rising Demand for Semiconductors will Facilitate Market Growth

December 05, 2022 | Semiconductor & Electronics

The semi-insulating Silicon Carbide wafer market size is anticipated to display vigorous growth by reaching USD 429.3 Million by 2022. Fortune Business Insights™ in its report titled “Semi-Insulating Silicon Carbide Wafer Market Size, Share & COVID-19 Impact Analysis, By Type (4 Inch SiC Wafer, 6 Inch SiC Wafer), By Application (Power Device, Electronics & Optoelectronics, Wireless Infrastructure, Others) and Regional Forecast, 2022-2029" observes that the market size in 2021 was valued at 367.8 million and reached 429.3 million in 2022. The market is projected to witness a CAGR of 19.1% during 2022-2029. The rising use of 6 Inch SiC wafer in automobiles for high-speed trains and power transmissions will likely fuel the market's progress.


STMicroelectronics Introduced 200mm SiC wafers to Facilitate Better Manufacturing Facility


STMicroelectronics launched the first 200mm SiC wafers to cater to the requirements of the automotive and industrial markets to minimize surface defects and minimize yield-impacting concerns.


Decline in the Sales of Essential Parts Could Impede 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 pandemic. For instance, in the 1st quarter of 2020, Radio frequency (RF) chip makers such as Qorvo and Skyworks in the U.S. saw a reduction in demand by 6%. Furthermore, due to the inclination toward R&D and government initiatives could help revive industry growth.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/semi-insulating-silicon-carbide-wafer-market-107018


Growing Advancements in the Telecommunication Industry Promotes Market Growth


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. To build state-of-the-art manufacturing facilities prominent players are investing heavily to cater to the rising demand for semiconductors to maintain their leadership position in semiconductor technologies. Another reason that bolstered the demand for the product is the growing demand for SiC-based power semiconductors for 5th generation communication equipment and electric vehicles. Moreover, GaN and SiC as the main material for building 5G infrastructure and maintaining semiconductors' energy gap, high-temperature resistance, and high power density have increased the requirement for power semiconductors.


Key Industry Players Entered into partnerships to bolster their Portfolio


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, rising investments in high-tech solutions and the introduction of key players are trying to increase the demand for SiC wafers.


Key Industry Development



  • May 2022: Rhombus Energy Solutions, announced that Wolfspeed is supplying SiC technology to improve the power density, quicker charging time of their products, and efficiency.


Further Report Findings



  • The market in Asia Pacific was valued at USD 168.3 Million in 2021 and is estimated to gain a significant hold on the global transplantation market share during the estimated period. The robust economic progress of the countries and soaring investments in the iron and steel industry across the region are expected to fuel the industry's growth.

  • North America is expected to lead the market during the forecast period due to the rising adoption of SiC wafers in electric vehicles and the presence of key market players such as Wolf speed Inc.

  • Europe is expected to showcase significant growth due to the increasing transition toward energy could favor the region's growth.


List of Key Players Profiled in the Market 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)


Report Scope & Segmentation

Global Semi-insulating Silicon Carbide (SiC) Wafer Market
  • PDF
  • 2021
  • 2018-2020
  • 158

    CHOOSE LICENSE TYPE

  • 4850
    5850
    6850

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