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

The semi-insulating silicon carbide wafer market was USD 367.8 million in 2021 and is projected to grow from USD 429.3 million in 2022 to USD 1,460.1 million by 2029, at a CAGR of 19.1 %. Based on our analysis, global market exhibited a decline of 12.1 % in 2020 as compared to 2019. The global COVID-19 pandemic has been unprecedented and staggering, with Semi-Insulating Silicon Carbide Wafer experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

SiC wafer is a semiconductor material made by the combination of silicon and carbon. SiC wafer has characteristics such as insulation material, semiconductor, thermal management materials, and high-temperature resistance. It is made by melting raw materials such as petroleum coke, quartz sand, and sawdust. It can be used for LED lighting devices, microwave devices, power electronic devices, and in refrigerator devices. It is a semiconductor material to make power devices. Nowadays, a semi-insulating silicon carbide wafer market growth is propelled due to its application 5G communication networks and electric vehicles to provide high power, high voltage, and high-frequency devices.

4 Inch SiC Wafer and 6 Inch SiC Wafer are the two types of Silicon Carbide Wafer. 4 Inch SiC wafer has characteristics such as insulation material, has superior electronic properties such as resistance to corrosion, erosion, and oxidation. They are used in electronic and LED devices. 6 Inch SiC wafer has excellent heat resistive properties, high thermal capacity, high speed wideband, and efficiency. It is used in automobiles for power transmissions and high-speed trains.

COVID-19 IMPACT

Problems Associated with Manufacturing and Raw Material Procurement has Increased Market Hindrance

The COVID-19 pandemic has disrupted economies across the globe. Due to this reason, developed as well as underdeveloped countries have faced a setback. Also, the market size is curbing and is facing challenges in maintaining the global economy across several sectors. Due to volatility in procurement of raw materials and limitations pertaining to cross border trade of these materials during the pandemic has impacted the sales of semiconductor materials and the supply chain of silicon carbide wafers. During the pandemic, Radio frequency (RF) chip makers such as Skyworks, and Qorvo in the U.S. saw a reduction in demand by 6% in 1^st quarter of 2020. However, the silicon carbide wafer industry continued to maintain a leadership position in the semiconductor technologies that is crucial for various other sectors like the automotive & aerospace industries. Although the lockdown amidst CoVID-19 resulted in short-term challenges, it has also shaped the long-term opportunities for SiC wafers in consumer electronics and the automotive industry.

LATEST TRENDS

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Deployment of Sic Wafer in Telecommunication Industry to Build 5G Network Aiding the Market

The telecom companies are advancing toward building high-speed 5G networks around the globe, which has increased the requirement for power semiconductors. For Instance, SK Siltron plans to make significant investments and expand its SiC-related facilities within five years to meet the growing demand for SiC-based power semiconductors for 5th generation communication equipment and electric vehicles. Additionally, due to SiC wafer’s high hardness, heat resistance, and ability to sustain high voltages they are commonly used to produce power semiconductors for 5G networks. Initially, the chipmakers were inclined towards using GaN to make power semiconductors. Further, the recent trend of using GaN on SiC offers superior thermal conductivity along with the high power density capabilities of GaN and low RF losses of SiC. These semiconductors that use SiC and GaN as the main material are the third-generation semiconductors and they are characterized by high- temperature resisitance, a wide energy gap, and high power density, which are ideal for building 5G infrastructure.

DRIVING FACTORS

Hefty Investment in R&D & SiC Wafers Production Will likely to Accelerate Product Demand

There has been an increasing demand for SiC wafers due to their adoption in electric vehicles and fifth-generation telecommunication devices. In order to meet this increasing demand, companies are investing heavily in building state-of-the-art manufacturing facilities. For instance, Wolfspeed, a wideband semiconductor company, has announced to invest USD 1 billion in a SiC production manufacturing plant that will increase its wafer fabrication capacity by up to 30 folds as a part of its long-term growth strategy.                                                  

Furthermore, the manufacturing process of SiC is considered to be complex and costly owing to polytypism crystal structure and extreme thermodynamic properties. Therefore major players are making huge spending on Research & Development to introduce innovative manufacturing process and pace up production rate which is enhancing the market growth.

RESTRAINING FACTORS

High Cost and Complex Manufacturing Process Limits Market Growth

Silicon carbide wafers are kind of single crystal wafers molded by cutting, grinding, cleaning, polishing, & other processes of silicon carbide crystals, but owing to its hardness and fragility, SiC needs more energy, higher temperature, and more time for crystallization and processing. Furthermore, the high transparency and refractive index of ‘4H-SiC’ (the most widely used SiC) makes it difficult to examine the material for a surface defect that could affect final component yield or epitaxial growth.

Moreover, even though SiC is the hardest material, it is very brittle, making it difficult to produce small components used in semiconductors. By virtue of all these reasons, the cost of SiC wafers is 3 times the cost of silicon wafers of the same rating.

SEGMENTATION

By Type Analysis

6 Inch SiC Wafer to Hold a Significant Market Share Owing to Its Rising Demand in EV Sector

In terms of type, the market is classified into 4 Inch SiC Wafer and 6 Inch SiC Wafer.

6 Inch SiC Wafer is likely to hold a major share in the market. It is attributed to its excellent heat-resistive property, high thermal capacity, high-speed wideband, and efficiency. It helps increase the productivity of power device manufacturers.

Furthermore, 4 Inch SiC Wafer is expected to have steady growth during the forecast period. Due to its characteristics such as insulation material, superior electronic properties, resistance to corrosion, erosion, and oxidation.

By Application Analysis

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Power Devices to Witness Major Growth during the Forecast Period

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

Under Power Device segment, we have considered the semi-insulating silicon carbide wafer, which is used for power devices, industrial motor vehicles, electric vehicles (EV), and Hybrid Electric vehicle (HEV). Due to substantial development of novel power device equipment, power devices industry is witnessing a swift growth, and it is anticipated to keep a significant share during the forecast period.

Furthermore, Electronics & Optoelectronics market is anticipated to exhibit substantial growth as demand for FET/MOSFET transistor, battery charger, and motor control systems in the electronics industry are high.

In addition, the wireless infrastructure market is expected to have a significant rise in coming years owing to the commencement of the 5G network.

REGIONAL INSIGHTS

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The semi-insulating silicon carbide wafer market report's scope comprises five major regions, namely North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Asia pacific region is expected to dominate the market during the forecast period due to the robust economic progress of the countries such as India and China. The adoption of high technology power devices and high-end technology devices with reduced electronics prices has uplifted the consumption of electronics products across the region

India is projected to show considerable growth during the forecast period. Increasing investments in the iron and steel industry in the country have accelerated market growth. Major Telecomm companies in the country are building a network of 5G infrastructure, which is aiding SiC wafer market to grow. In addition, the rising electrification of vehicles in the country has increased the demand for Semi-Insulating Silicon Carbide Wafer.

North America is projected to show major growth due to the strong presence of prominent players such as Wolf speed Inc., II-VI Incorporated, and others. The implementation of SiC wafers in electric vehicles in the region has promoted market growth.

In Europe, the increasing utilization of power electronics as well as the rising transition towards renewable energy, have driven the demand for SiC wafers. In addition, the development in the automotive industry in European countries like Germany is further stimulating the rise in demand and is assisting to stimulate development of semi-insulating silicon carbide wafer market share.

Increasing consumption of consumer electronics such as laptops, smartphones, electric vehicles, and TVs across Mexico and Brazil, along with the rise in disposable income is enhancing the market growth in Latin America.

The Middle East and Africa region is expected to show a significant growth valued at USD 46.8 million in 2029 during the forecast period. The growth in the automotive industry across the United Arab Emirates, Qatar, Africa, and other countries, has subsequently raised the demand for semi-insulating silicon carbide wafers for motor vehicles and passenger cars.

KEY INDUSTRY PLAYERS

Prominent Players Focuses on establishing manufacturing facilities to increase production capacity

The key industry players have a global presence across the regions, including the European Countries, Asia Pacific, North America, and Middle East & Africa. Companies around the world are focusing on establishing state-of-the-art manufacturing facilities to cater to the increasing demand for SiC wafers. Additionally, the prominent players have strengthened their R&D departments to accelerate innovations related to the fabrication of wafers.

LIST OF KEY COMPANIES PROFILED:

• 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)

KEY INDUSTRY 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 July, 2021: STMicroelectronics launched the first 200mm SiC wafers with optimum yield-impacting and crystal-dislocation defects.


• In August, 2020: II-VI acquired Ascatron,a  pioneer in silicon carbide epitaxial wafer technology, to be a segment of its vertically integrated Silicon Carbide power electronics technology platform


• In January, 2020: Rohm and STM came together to uplift industrial flexibility and support the commercial expansion of SiC products in industrial and automotive applications.

REPORT COVERAGE

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The global market research report provides a detailed analysis of the type, application, and industries. It provides information about along with leading companies and their business overview, types, and leading applications of the product. Besides, it offers insights into the competitive landscape, SWOT analysis, and current market trends and highlights key drivers and restraints. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.

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