Press release
Silicon Carbide Epitaxial Wafer Market to Hit $1.6 Billion by 2029, Driven by Power Electronics Demand
Silicon Carbide Epitaxial Wafer MarketThe global Silicon Carbide Epitaxial Wafer market was valued at US$ 227.8 million in 2022 and is anticipated to reach US$ 1667.4 million by 2029, witnessing a CAGR of 32.5% during the forecast period 2023-2029.
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Major Trends
The global silicon carbide (SiC) epitaxial wafer market is experiencing rapid growth, primarily driven by the increasing demand for SiC wafers in high-performance semiconductor applications. SiC epitaxial wafers are critical for producing semiconductors that operate at high temperatures, voltages, and frequencies, making them ideal for use in electric vehicles (EVs), 5G technology, and renewable energy systems. The growing adoption of SiC in power electronics, coupled with the rising demand for energy-efficient systems, is propelling the market forward. Additionally, technological advancements in wafer manufacturing processes are enhancing the quality and performance of SiC wafers, further driving market growth.
Silicon Carbide Epitaxial Wafer Market Trends
One significant trend in the SiC epitaxial wafer market is the increasing demand for SiC-based power electronics in the electric vehicle (EV) industry. SiC semiconductors offer superior energy efficiency and thermal conductivity compared to traditional silicon-based devices, making them essential for improving the performance and range of EVs. As major automotive manufacturers ramp up their EV production, the demand for SiC wafers is expected to rise significantly, particularly in regions such as Europe and North America, where EV adoption is accelerating.
Another key trend is the expansion of SiC applications in renewable energy systems, particularly in solar inverters and wind turbines. SiC wafers enable the development of more efficient power conversion systems, helping to reduce energy losses and improve the overall performance of renewable energy installations. This trend is gaining traction as governments and organizations worldwide push for cleaner energy solutions, driving demand for SiC wafers in the renewable energy sector.
The development of 5G technology is also boosting demand for SiC epitaxial wafers. SiC-based semiconductors are crucial for the high-frequency, high-power requirements of 5G infrastructure, particularly in base stations and antennas. The rollout of 5G networks globally is expected to fuel the need for SiC wafers in the coming years, as telecommunications companies seek to improve network efficiency and performance.
In addition, the growing focus on sustainability and energy conservation is driving innovation in SiC wafer production. Manufacturers are investing in research and development to produce SiC wafers that offer higher yields and lower defect rates, while also reducing energy consumption during the manufacturing process. This trend is particularly important as the semiconductor industry faces increasing pressure to minimize its environmental impact.
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Silicon Carbide Epitaxial Wafer Market Share
The market for Silicon Carbide Epitaxial Wafer is concentrated with players such as Cree (Wolfspeed), II-VI Advanced Materials (Ascatron), Showa Denko K.K.(NSSMC), Epiworld intenational, SK Siltron(Dupont), TYSiC, STMicroelectronics (Norstel), ROHM (Sicrystal) and so on. Among them, the top 3 manufacturers which include Cree (Wolfspeed), II-VI Advanced Materials (Ascatron), Showa Denko K.K.(NSSMC) are the leader with about 71% revenue market share in 2019.
We divide Silicon Carbide Epitaxial Wafer into 100 mm, 150 mm and 200 mm, 150 mm account for more than 60% revenue share in 2019.
600-1200V SiC Devices remains the largest application field, followed by 1200-3300V SiC Devices and above 3300V SiC Devices.
North America is the largest production area, accounting for 53.38% of the total market share. The Asia-Pacific region is expected to grow faster in the future.
Due to the increasing adoption of electronic devices across the region, notably in India, Japan, South Korea, and China, the Asia Pacific market is anticipated to expand at the quickest rate during the forecast period.
Segment by Type
• 100mm
• 150mm
• 200mm
Segment by Application
• 600-1200V SiC Devices
• 1200-3300V SiC Devices
• Above 3300V SiC Devices
BY REGION
• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Other Regions
BY COMPANY
• Cree (Wolfspeed)
• II-VI Advanced Materials(Ascatron)
• Showa Denko K.K.(NSSMC)
• Epiworld international
• SK Siltron(Dupont)
• TYSiC
• STMicroelectronics (Norstel)
• ROHM (Sicrystal)
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