SiC Wafer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021 - 2031

  • Single User License $3500

SiC Wafer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021 - 2031

Status : July, 2022 | Semiconductor & Electronics

Report Digest

SiC Wafer Market - An Overview

The global Silicon Carbide (SiC) wafer market is expected to witness moderate growth during the forecast period between 2021 and 2031.

SiC is a crystalline substance that is manufactured by etching the crystal. The product is generally thin and deployed primarily for semiconductor production. Apart from semiconductor production, a few other application areas for SiC wafers include power grid devices, industrial motor drives, electric vehicle motor drives, and power supply and inverters.

COVID-19 pandemic adversely affected the growth in the global SiC wafer market. With governments imposing stringent social distancing regulations and lockdowns in a bid to contain the spread of the virus, manufacturing units were forced to function with reduced labor force or shut down permanently. This lowered the demand for SiC wafers and resulted in reduced market growth.

However, with most personnel double vaccinated and approval given to the use of a third booster dose, it is anticipated that production units will resume operations soon, leading to higher SiC wafers demand and helping the market grow steadily.

SiC Wafer Market - Trends and Opportunities

Rising demand for renewable energy sources in different end-use industries is the key growth driver for the global SiC wafer market.

Also, increasing SiC wafer demand for electric vehicle power electronics could create significant revenue-generating opportunities for prominent SiC wafer market players, in future.

In addition to this, growing demand for SiC wafer-powered semiconductors in the production of internal combustion engine automobiles could trigger the growth in the overall SiC wafer market, in years to come.

4-inch SiC wafers is expected to make the largest contribution, in terms of revenue, to the overall SiC wafer market because of increasing product demand in the fabrication process of high-power and high-voltage devices such as diodes, high power microwaves, and power transistors.

SiC discrete devices segment is projected to contribute the most to the overall SiC wafer market because of features such as improved voltages, quicker switching speed, and smaller product size.

SiC Wafer Market - Competitive Landscape

The global SiC wafer market has several well-established players, many of whom have become successful owing to years of delivering consistent results and are expected to account for a large share in the overall market, in future.

Prominent SiC wafer market players could engage in growth strategies such as new product launches which could create new revenue-generating opportunities for leading players and help gain a competitive edge over others, in future.

Wolfspeed Inc., in January 2021, launched the ‘Wolfspeed WOLFPACK’ power modules with the ability to offer highest efficiency in easy-to-use packages which permitted designers to increase the effectiveness and performance with smaller power systems.

Well-established SiC wafer market players could sign collaborative deals with smaller players which could help expand the market presence and increase their revenue shares.

R&D undertakings could be a key growth strategy for prominent market players, in the years ahead.

Some of the leading players in the global SiC wafer market include Wolfspeed Inc., Dow Chemical Co., Showa Denko KK, STMicroelectronics, and Texas Instruments Incorporated.

SiC Wafer Market - Regional Assessment

North America is expected to offer maximum revenue-generating opportunities for the global SiC wafer market because of continuous development witnessed in different end-use industries such as IT and telecom, energy, automotive, and defense.

Europe is projected to witness significant growth in the global market because of increasing production of electric vehicles in leading economies such as Germany and UK, contributing to market growth in the region.

Asia Pacific is anticipated to witness strong growth in the global SiC wafer market in future because of increased semiconductor production and demand from end-use industries in countries such as China.

Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the overall SiC wafer market, in years to come.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?