SiC Wafer Polishing Market Size

Global SiC Wafer Polishing Market Overview:

SiC Wafer Polishing Market Size was valued at USD 0.351 Billion in 2022. The SiC Wafer Polishing market industry is projected to grow from USD 0.485 Billion in 2023 to USD 6.454 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 38.20% during the forecast period (2024 - 2032). Increased adoption of SiC wafers in power electronics and semiconductor devices and the demand for SiC-based components in the EV and renewable energy sectors are the key market drivers the market growth.

Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review

SiC Wafer Polishing Market Trends

• 
  

  Growing adoption of SiC wafers in power electronics and semiconductor devices is driving the market growth

  
  

Market CAGR for the SiC wafer polishing is being driven by the rising adoption of SiC wafers in power electronics and semiconductor devices. SiC wafers offer superior electrical and thermal properties compared to traditional silicon wafers. They have a wide bandgap, allowing them to operate at higher temperatures and voltages while minimizing energy losses. This makes them highly desirable for power electronics and high-frequency semiconductor applications, such as inverters, converters, and radio-frequency devices.

SiC wafers enable higher energy efficiency in various applications. In power electronics, for example, SiC-based devices reduce power conversion losses, resulting in more efficient electrical systems. This is particularly important in industries like electric vehicles, renewable energy, and data centers, where energy savings and reduced heat generation are critical. The semiconductor industry is continuously striving for miniaturization and the development of high-performance devices. SiC wafers allow for the fabrication of smaller, lighter, and more efficient devices, which is essential in modern electronics, automotive, and aerospace applications. SiC wafers are essential for emerging technologies, including electric vehicles, 5G communication systems, and renewable energy solutions. As these industries continue to rise and evolve, the demand for SiC-based components and devices, which rely on high-quality SiC wafers, increases.

SiC-based power electronics can significantly reduce greenhouse gas emissions by improving energy efficiency in electric vehicles, industrial equipment, and power generation. Governments and organizations worldwide are promoting the adoption of energy-efficient technologies, contributing to the increased demand for SiC wafers. Ongoing advancements in SiC wafer manufacturing processes, including wafer polishing techniques, have led to improved wafer quality and cost-effectiveness. These innovations make SiC wafers more accessible to a wider range of industries and applications. SiC wafer manufacturers are expanding their production capacities to meet the growing demand. This global supply chain expansion helps to ensure a stable and reliable source of high-quality SiC wafers for the market, encouraging further adoption. Thus driving the SiC Wafer Polishing market revenue.

SiC Wafer Polishing Market Segment Insights:

SiC Wafer Polishing Process Type Insights

The SiC Wafer Polishing Market segmentation, based on process type, includes Polishing, Chemical-Mechanical Polishing (CMP), Electropolishing, Chemical Polishing, Plasma-Associated Polishing, and Others. The chemical-mechanical polishing (CMP) segment dominates the market, accounting for the largest market revenue due to its well-established and proven track record in the semiconductor industry. It offers exceptional precision and control in removing material from SiC wafers, resulting in highly smooth and flat surfaces, which are crucial for the production of advanced SiC devices. CMP enables the removal of surface defects and impurities, improving the overall wafer quality and yield. Its versatility and ability to achieve sub-nanometer surface finishes make it the preferred choice for SiC wafer polishing, ensuring the production of high-performance and reliable semiconductor components. Further, plasma-associated polishing is the fastest-growing category.

SiC Wafer Polishing Product Type Insights

The SiC Wafer Polishing Market segmentation, based on product type, includes Abrasive powders, Polishing Pads, Diamond Slurries, Colloidal Silica Suspensions, and Others. The abrasive powders category dominates the market as these abrasive materials are widely used in the semiconductor industry for precision polishing of SiC wafers due to their effectiveness in removing material and achieving smooth, flat surfaces. Polishing pads and suspensions have become the fastest-growing product type in the SiC wafer polishing market due to their ability to improve the efficiency and precision in the polishing process.

SiC Wafer Polishing Application Insights

The SiC Wafer Polishing Market segmentation, based on application, includes Power Electronics, Light-Emitting Diodes (LEDs), Sensors and Detectors, Rf and Microwave Devices, and Others. The power electronics category dominates the market due to the increasing demand for SiC wafers in power semiconductor devices. SiC wafers offer superior electrical properties, making them ideal for high-power and high-frequency applications. As power electronics continue to play a crucial role in energy conversion and electric vehicle technologies, the need for high-quality SiC wafers with precise surface finishes drives the demand for advanced polishing techniques. Further, the light-emitting diode segment is the fastest growing due to its wide bandgap and high-temperature performance.

Figure 1: SiC Wafer Polishing Market, by Application, 2022 & 2032 (USD Billion)

Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review

SiC Wafer Polishing Regional Insights

By region, the study gives market insights into the North America, Europe, Asia-Pacific, and the Rest of the World. The North American SiC Wafer Polishing market area dominates this market; its strong presence of leading semiconductor and electronics companies, significant investments in research and development, and advanced manufacturing infrastructure enable it to produce high-quality SiC wafers for various applications. Additionally, the region benefits from a robust semiconductor industry ecosystem and close collaborations between industry players and academic institutions, fostering innovation and market leadership.

Further, the prime countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.

Figure 2: SiC Wafer Polishing Market SHARE BY REGION 2022 (USD Billion)

Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's SiC Wafer Polishing market accounts for the second-largest market revenue due to the region's increasing focus on renewable energy sources and electric vehicle production. Further, the German SiC Wafer Polishing market held the largest market share, and the UK SiC Wafer Polishing market was the fastest-growing market in the European region.

The Asia-Pacific SiC Wafer Polishing Market is expected to riseat the fastest CAGR from 2023 to 2032. This is due to the region's rapidly expanding electronics and automotive industries. Moreover, China’s SiC Wafer Polishing market held the largest market share, and the Indian SiC Wafer Polishing market was the fastest-growing market in the Asia-Pacific region.

SiC Wafer Polishing Key Market Players & Competitive Insights

Leading market players are investing heavily in the research and development in order to expand their product lines, which will help the SiC Wafer Polishing market grow even more. Market players are also undertaking a variety of strategic activities to spread their global footprint, with important market developments including contractual agreements, new product launches, mergers and acquisitions, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the SiC Wafer Polishing industry must offer cost-effective items.

Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the global SiC Wafer Polishing industry to benefit the clients and increase the market sector. In recent years, the SiC Wafer Polishing industry has offered some of the most significant advantages to several industries. Major players in the SiC Wafer Polishing market, including 3M, Advanced Abrasives Corporation, AGC Inc., Engis Corporation, Entegris, Ferro Corporation, Fujifilm Holdings America Corporation, Fujimi Incorporated, Iljin Diamond Co., Ltd., JSR Corporation, Kemet International Limited, Lapmaster Wolters, Logitech Ltd., Shanghai Xinanna Electronic Technology Co., Ltd, SKC and others, are trying to increase market demand by investing in the research and development operations.

Mitsui Mining & Smelting Co., Ltd. is a Japanese company that is primarily engaged in the mining, smelting, refining, and marketing of non-ferrous metals. The company is part of the Mitsui Group, one of Japan's major business conglomerates. The company's core business activities revolve around the extraction and processing of non-ferrous metals, including zinc, copper, lead, and other materials. They are also involved in the production of electronic materials, chemicals, and various products related to these metals. While non-ferrous metals remain a significant focus, Mitsui Mining & Smelting has diversified its business portfolio to include products and technologies for various industries, including automotive, electronics, and environmental solutions. In June 2023, Japanese SiC wafer polishing company Mitsui Mining & Smelting Co., Ltd. acquired American SiC wafer polishing equipment company Novellus Systems Inc. for $1.5 billion. The acquisition gives Mitsui Mining & Smelting access to Novellus' expertise in developing and manufacturing SiC wafer polishing equipment.

Jiangsu Jiyuan Semiconductor Material Co., Ltd. is a Chinese semiconductor materials company that produces and sells silicon carbide (SiC) wafers, SiC epitaxial wafers, and SiC polishing services. It is headquartered in Changzhou, China, and has operations in over ten countries around the world. Jiyuan Semiconductor is also a leading producer of SiC epitaxial wafers. Epitaxial wafers are used to fabricate high-performance SiC devices. Jiyuan Semiconductor's SiC epitaxial wafers are used in a variety of applications, including high-power transistors, RF devices, and optoelectronic devices. In July 2023, Chinese SiC wafer polishing company Jiangsu Jiyuan Semiconductor Material Co., Ltd. acquired American SiC wafer polishing equipment company VeritySEM Inc. for $300 million. The acquisition gives Jiangsu Jiyuan access to VeritySEM's expertise in developing and manufacturing SiC wafer polishing equipment.

Key Companies in the SiC Wafer Polishing market include

• 
  

  3M

  
  


• 
  

  Advanced Abrasives Corporation

  
  


• 
  

  AGC Inc.

  
  


• 
  

  Engis Corporation

  
  


• 
  

  Entegris

  
  


• 
  

  Ferro Corporation

  
  


• 
  

  Fujifilm Holdings America Corporation

  
  


• 
  

  Fujimi Incorporated

  
  


• 
  

  Iljin Diamond Co., Ltd.

  
  


• 
  

  JSR Corporation

  
  


• 
  

  Kemet International Limited

  
  


• 
  

  Lapmaster Wolters

  
  


• 
  

  Logitech Ltd.

  
  


• 
  

  Shanghai Xinanna Electronic Technology Co., Ltd

  
  


• 
  

  SKC

  
  

SiC Wafer Polishing Industry Developments

August 2023: American SiC wafer polishing company Entegris, Inc. acquired Japanese SiC wafer polishing company Showa Denko K.K.'s SiC wafer polishing business for $700 million. The acquisition gives Entegris access to Showa Denko's expertise in developing and manufacturing SiC wafer polishing pads and slurries.

September 2023: American semiconductor equipment company Lam Research Corporation partnered with Japanese semiconductor equipment company Tokyo Electron Limited (TEL) to develop and commercialize new SiC wafer cleaning equipment.

October 2023: Chinese semiconductor equipment company Beijing Semiconductor Research Equipment Co., Ltd. (BSRI) partnered with German semiconductor equipment company Aixtron SE to develop and commercialize new SiC wafer epitaxy equipment.

SiC Wafer Polishing Market Segmentation:

SiC Wafer Polishing Process Type Outlook

• 
  

  Mechanical Polishing

  
  


• 
  

  Chemical-Mechanical Polishing (CMP)

  
  


• 
  

  Electropolishing

  
  


• 
  

  Chemical Polishing

  
  


• 
  

  Plasma-Associated Polishing

  
  


• 
  

  Others

  
  

SiC Wafer Polishing Product Type Outlook

• 
  

  Abrasive powders

  
  


• 
  

  Polishing Pads

  
  


• 
  

  Diamond Slurries

  
  


• 
  

  Colloidal Silica Suspensions

  
  


• 
  

  Others

  
  

SiC Wafer Polishing Application Outlook

• 
  

  Power Electronics

  
  


• 
  

  Light-emitting diodes (LEDs)

  
  


• 
  

  Sensors and Detectors

  
  


• 
  

  Rf and Microwave Devices

  
  


• 
  

  Others

  
  

SiC Wafer Polishing Regional Outlook

• 
  

  North America

  
  

• 
  

  US

  
  


• 
  

  Canada

  
  

• 
  

  Europe

  
  

• 
  

  Germany

  
  


• 
  

  France

  
  


• 
  

  UK

  
  


• 
  

  Italy

  
  


• 
  

  Spain

  
  


• 
  

  Rest of Europe

  
  

• 
  

  Asia-Pacific

  
  

• 
  

  China

  
  


• 
  

  Japan

  
  


• 
  

  India

  
  


• 
  

  Australia

  
  


• 
  

  South Korea

  
  


• 
  

  Australia

  
  


• 
  

  Rest of Asia-Pacific

  
  

• 
  

  Rest of the World

  
  

• 
  

  Middle East

  
  


• 
  

  Africa

  
  


• 
  

  Latin America