Silicon Carbide Wafers and Substrates Market to Grow at a CAGR of 14.8% During 2025-2031

Los Angeles, United State: A newly published report titled "Global Silicon Carbide Wafers and Substrates Market Insights, Forecast 2025 to 2031" by QY Research throws light on the industry dynamics and current and future trends that play a key role in determining the business expansion. The Silicon Carbide Wafers and Substrates report also highlights the key driving factors and restraints that are impacting the growth. For a comprehensive understanding, the professionals have reviewed the regulatory scenario, market entry strategies, best industry practices, pricing strategy, technology landscape, and consumption, sales, and demand outlook.

The global Silicon Carbide Wafers and Substrates market was valued at US$ 1218 million in 2024 and is anticipated to reach US$ 3154 million by 2031, witnessing a CAGR of 14.8% during the forecast period 2025-2031.

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Silicon carbide is an inorganic substance with the chemical formula SiC. It is made of raw materials such as quartz sand, petroleum coke (or coal coke), and sawdust (salt is needed to produce green silicon carbide) through high-temperature smelting in a resistance furnace. Silicon carbide is a semiconductor that exists in nature in the form of the extremely rare mineral moissanite. Since 1893, it has been mass-produced as powder and crystals for use as abrasives, etc. Among non-oxide high-tech refractory raw materials such as C, N, and B, silicon carbide is the most widely used and economical one, which can be called diamond sand or refractory sand.

Wafer refers to the cutting, grinding, and polishing of crystals along a specific crystal direction to obtain a clean single wafer with specific crystal planes and appropriate electrical, optical, and mechanical properties for growing epitaxial layers. Silicon carbide wafer is the core material of the newly developed wide bandgap semiconductor. The devices made with it have the characteristics of high temperature resistance, high voltage resistance, high frequency, high power, and radiation resistance. It has the advantages of fast switching speed and high efficiency, which can greatly reduce product power consumption, improve energy conversion efficiency, and reduce product volume. According to different electrical properties, silicon carbide wafer can be divided into two categories: semi-insulating silicon carbide wafer and conductive silicon carbide wafer. These two types of wafer are clearly used to manufacture discrete devices such as power devices and radio frequency devices after epitaxial growth.

At present, 6-inch SiC wafer still occupy the mainstream market, but 8-inch wafer are gradually penetrating. Compared with 6-inch wafer, the cost of 8-inch SiC wafer can be reduced by about 35%, and more wafers can be cut out with less edge waste, which greatly improves the effective utilization of materials. Therefore, domestic and foreign manufacturers are accelerating research and development, expanding production, and entering the 8-inch silicon carbide market.

From the perspective of the global silicon carbide wafer material market, Wolfspeed, Coherent, Rohm, etc. still occupy a dominant position in the industry. However, in recent years, my country's silicon carbide material market has also been very hot. Wafer manufacturers such as CETC, TankeBlue, SICC, Hebei Synlight Crystal, and Sanan Optoelectronics have all achieved mass production. From the perspective of the terminal market, the demand for silicon carbide remains strong, whether in automobiles, photovoltaics, or industry. As the first car company in the industry to apply silicon carbide on a large scale, Tesla's Model 3 and Model Y models are selling well. In 2023, the penetration rate of silicon carbide in the field of pure electric passenger vehicles will be 25%, of which Model 3 and Model Y will contribute 60% to 70%. At the same time, driven by new car-making forces at home and abroad, the market structure of silicon carbide is gradually becoming diversified.

In 2023, there will be a number of standard silicon carbide models in the price range of 200,000 to 250,000 yuan, such as Xiaopeng G6, Zeekr X, and Zhiji LS6. The high-performance strategy of new car companies is accelerating the market penetration of silicon carbide. In the future, all models with a price of more than 200,000 yuan may be equipped with silicon carbide devices as standard. Not only new energy vehicles, but also charging piles, photovoltaics, and industrial markets have great potential demand for silicon carbide. Wind, solar, storage, and industrial demand are also gradually increasing the application of silicon carbide devices and modules to cope with high-frequency, small-volume, and energy-saving scenarios, and the application scale is also considerable.

Featured Companies: -

Wolfspeed
SK Siltron
ROHM Group (SiCrystal)
Coherent
TankeBlue
Resonac
STMicroelectronics
SICC
Hebei Synlight Crystal
CETC
San'an Optoelectronics

Why This Report is a Must-Have -

> Historical Analysis (2020-2024) & Forecasts (2025-2031): Gain a clear understanding of market trends and future growth potential.

> Comprehensive Market Segmentation: Detailed breakdown by Type, Application, and Region to identify lucrative opportunities.

> Competitive Landscape: Insights into key players, their market share, and strategic developments like mergers, acquisitions, and expansion plans.

> Drivers & Restraints: Understand the factors shaping the market's growth and the challenges that could impact your strategy.

> Expert Opinions & Market Dynamics: Benefit from expert analysis to navigate market risks and capitalize on emerging trends.

Detailed of Silicon Carbide Wafers and Substrates Market Segmentation: -

Segmentation By Type :-

4 Inch
6 Inch
8 Inch

Segmentation By Application : -

Power Device
Electronics & Optoelectronics
Wireless Infrastructure
Others

Silicon Carbide Wafers and Substrates Market Regional Insights -

United States

-Canada
-Mexico
-Brazil

APAC

-Japan
-South Korea
-China
-ASEAN
-India

EMEA

-Europe
-Middle East
-Africa

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What You'll Gain from This Report -

> In-Depth Regional Analysis: Explore market potential across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

> Competitive Intelligence: Profiles of key players, including their sales, revenue, product portfolios, and recent developments.

> Market Dynamics: Understand the latest trends, driving factors, and risks impacting the industry.

> Actionable Insights: Make informed business decisions with data-driven strategies and forecasts.

How Can the Research Study Help your Business?

(1) The information presented in the Silicon Carbide Wafers and Substrates report helps your decision makers to become prudent and make the best business choices.

(2) The report enables you to see the future of the global Silicon Carbide Wafers and Substrates market and accordingly take decisions that will be in the best interest of your business.

(3) It offers you a forward-looking perspective of the global Silicon Carbide Wafers and Substrates market drivers and how you can secure significant market gains in the near future.

(4) It provides SWOT analysis of the global Silicon Carbide Wafers and Substrates market along with useful graphics and detailed statistics providing quick information about the market's overall progress throughout the forecast period.

(5) It also assesses the changing competitive dynamics of the global Silicon Carbide Wafers and Substrates market using pin-point evaluation.

This Silicon Carbide Wafers and Substrates Market Research Report Contains Answers to your following Questions -

(A) Which Manufacturing Technology is Used for Silicon Carbide Wafers and Substrates? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?

(B) Who Are the Global Key Players in This Silicon Carbide Wafers and Substrates Market? What's Their Company Profile, Their Product Information, and Contact Information?

(C) What Was Global Market Status of Silicon Carbide Wafers and Substrates Market? What Was Capacity, Production Value, Cost and PROFIT of Silicon Carbide Wafers and Substrates Market?

(D) What Is Current Market Status of Silicon Carbide Wafers and Substrates Industry? What's Market Competition in This Industry, Both Company, and Country Wise? What's Market Analysis of Silicon Carbide Wafers and Substrates Market by Taking Applications and Types in Consideration?

(E) What Are Projections of Global Silicon Carbide Wafers and Substrates Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?

(F) What Is Silicon Carbide Wafers and Substrates Market Chain Analysis by Upstream Raw Materials and Downstream Industry?

(G) What Is Economic Impact On Silicon Carbide Wafers and Substrates Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?

(H) What Are Market Dynamics of Silicon Carbide Wafers and Substrates Market? What Are Challenges and Opportunities?

(I) What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Silicon Carbide Wafers and Substrates Industry?

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Silicon Carbide Wafers and Substrates manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Sales, revenue of Silicon Carbide Wafers and Substrates in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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