SiC Wafer Polishing Market

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.

SiC Wafer Polishing Market Segment Insights:

The Global SiC Wafer Polishing Market Industry is poised for substantial growth, with projections indicating a market value of 0.93 USD Billion in 2024 and an anticipated increase to 32.5 USD Billion by 2035. This remarkable growth trajectory suggests a compound annual growth rate (CAGR) of 38.15% from 2025 to 2035. Such projections reflect the increasing integration of SiC wafers in various high-tech applications, including electric vehicles, renewable energy systems, and advanced telecommunications. The market dynamics indicate a robust demand for polishing technologies that enhance the quality and performance of SiC wafers, positioning the industry for a transformative decade ahead.

The rollout of 5G technology is significantly influencing the Global SiC Wafer Polishing Market Industry. SiC devices are essential for high-frequency applications, making them ideal for 5G infrastructure. As telecommunications companies invest heavily in 5G networks, the demand for SiC wafers is expected to grow. The enhanced performance characteristics of SiC materials, such as high thermal conductivity and efficiency, are crucial for the next generation of communication technologies. This expansion is likely to contribute to the overall growth of the SiC wafer polishing market, as manufacturers seek to meet the increasing demand for high-quality wafers to support advanced telecommunications systems.

The increasing adoption of electric vehicles (EVs) is driving the Global SiC Wafer Polishing Market Industry. SiC wafers are crucial for power electronics in EVs, enhancing efficiency and performance. As governments worldwide push for greener transportation solutions, the demand for SiC-based components is expected to surge. In 2024, the market is valued at 0.93 USD Billion, reflecting the growing interest in sustainable technologies. By 2035, projections indicate a remarkable growth to 32.5 USD Billion, highlighting the pivotal role of SiC wafers in the automotive sector. This trend suggests a robust CAGR of 38.15% from 2025 to 2035, underscoring the industry's potential.

Technological advancements in semiconductor manufacturing are significantly impacting the Global SiC Wafer Polishing Market Industry. Innovations in polishing techniques and equipment are enhancing the quality and efficiency of SiC wafers. As semiconductor devices become more complex, the need for high-quality substrates increases. The industry is witnessing the introduction of advanced polishing methods that reduce defects and improve surface finish. This evolution is critical for applications in high-power and high-frequency devices, which are essential for various sectors, including telecommunications and renewable energy. The continuous improvement in semiconductor technology is likely to sustain the growth trajectory of the SiC wafer polishing market.

The shift towards renewable energy sources is a key driver for the Global SiC Wafer Polishing Market Industry. SiC wafers are increasingly utilized in power conversion systems for solar inverters and wind turbines, enhancing energy efficiency. As countries commit to reducing carbon emissions, the demand for efficient energy solutions is expected to rise. This trend is reflected in the projected market growth from 0.93 USD Billion in 2024 to an impressive 32.5 USD Billion by 2035. The CAGR of 38.15% from 2025 to 2035 indicates a robust market response to the increasing need for sustainable energy technologies, positioning SiC wafers as a vital component in the renewable energy landscape.

The aerospace and defense sectors are increasingly adopting SiC technology, thereby driving the Global SiC Wafer Polishing Market Industry. SiC materials offer superior performance in high-temperature and high-power applications, making them suitable for various aerospace systems. The demand for lightweight and efficient components in defense applications is also contributing to this trend. As these industries continue to evolve, the need for high-quality SiC wafers is expected to rise. This growth is indicative of a broader trend towards advanced materials in critical applications, suggesting that the SiC wafer polishing market will play a crucial role in supporting innovation in aerospace and defense technologies.

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.

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.