(MENAFN- GlobeNewsWire - Nasdaq) According to [115+ Pages] research report, the SiC Wafer Polishing market is predicted to grow from USD 0.36 Billion in 2022 to USD 8.93 Billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 38.1% from 2023 to 2032, according to the latest report by Polaris Market Research.New York, NY, Nov. 27, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a recent study report titled "SiC Wafer Polishing Market Share, Size, Trends, industry Analysis Report, By Product Type (Abrasive Powders, Polishing Pads, Diamond Slurries, Colloidal Silica Suspensions); By Application; By Process; By Region; Segment Forecast, 2023- 2032" in its research database.
According to the [115+ Pages] research report, the global SiC wafer polishing market size/share is predicted to grow from USD 0.36 Billion in 2022 to USD 8.93 Billion in 2032 . It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 38.1% from 2023 to 2032 , according to the latest report by Polaris Market Research.
What is SiC (Silicon) Wafer Polishing ? How Big is the SiC Wafer Polishing Market?
The process of smoothing and refining the surface of silicon carbide (SiC) wafers, which are used in the production of semiconductors and other electronic devices, is referred to as silicon carbide wafer polishing or SiC wafer polishing. Compound semiconductor silicon carbide is renowned for its remarkable mechanical, electrical, and thermal characteristics.
SiC wafers provide a robust foundation for the fabrication of high-power, high-frequency electronic devices, including power electronics and radio frequency components, due to their outstanding durability and lightweight. A critical phase in the semiconductor industry's wafer preparation process is called polishing. Its purpose is to level, smooth, and purge the water's surface of impurities and irregularities, which is expanding the SiC wafer polishing market size.
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Who are the Manufacturers of SiC Wafer Polish?
3M DuPont Incorporated Engis Corporation Entegris Ferro Corporation Fujimi Corporation Iljin Diamond International JSR Corporation Kemet Saint-Gobain SKC
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Important Highlights from the Report
The main factors driving the market's growth are the rising use of SiC wafers in power electronics and semiconductor devices , as well as the need for SiC-based parts in the EV and renewable energy industries. In the upcoming years, polishing services will become even more necessary due to the rising demand for SiC wafers. An increase in research studies and experimentation is driving technological advancements in wafer polishing. The SiC wafer polishing market segmentation is mainly based on product type, application, process, and region.
SiC Wafer Polishing Market Details
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 8.93 Billion |
| Market size value in 2023 | USD 0.49 Billion |
| Expected CAGR Growth | 38.1% from 2023 – 2032 |
| Forecast Year | 2023 – 2032 |
| Segments Covered | By Product Type, By Application, By Process, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Market's Prime Determinants of Growth, Trends, and Opportunities
Growth Drivers
Increased adoption of semiconductors: The growing use of SiC (Silicon Carbide) semiconductors is the main factor propelling the SiC wafer polishing market growth. Compared to conventional silicon-based semiconductors, SiC semiconductors have a number of benefits, such as improved overall performance, reduced power loss, and increased temperature tolerance. Due to these benefits, SiC semiconductors are becoming more and more in demand across a range of industries, including telecommunications, power electronics, electric cars, and renewable energy systems. Precise Characteristics: The increasing demand for SiC semiconductors has led to a pressing requirement for accurate surface features and high-quality SiC wafers. Since the fabrication of faultless and precisely polished SiC wafers is necessary for the creation of effective and dependable SiC-based electronic components, this need drives the market of SiC wafer polishing.
Trends and Opportunities
Rising Demand and Production of Electric Vehicles: Because silicon carbide can resist temperatures as high as 2700°, SiC wafers are widely employed in electronics that run at higher temperatures, such as electric automobiles. The SiC wafer polishing market demand is expected to grow in the upcoming years due to the increasing demand for these wafers brought about by the rising manufacturing of electric vehicles . Growing Interest in SiC Technology: Wafer polishing equipment and techniques are being advanced due to the increasing interest in SiC technology, which is driving the market's expansion. As more sectors come to understand the potential advantages of SiC semiconductors for raising the effectiveness and performance of diverse electronic systems, this trend is anticipated to continue.
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Segmental Analysis
Diamond Slurries Sector Witnesses the Highest Growth
Silicon wafers and other electrical components are regularly polished in the semiconductor industry using diamond slurry. It is also used in the jewelry industry for cutting and polishing gemstones and in the manufacture of precision optics, such as mirrors and lenses. Polishing slurries are indispensable for accurate and superior surface treatments in many industries, which will increase their application in SiC wafer polishing in the upcoming years.
Moreover, because different wafers are needed for different applications, the polishing pads section had the biggest SiC wafer polishing market share. Polishing thins out the silicon wafer and makes the semiconductor flat. Additionally, the pads remove unnecessary wiring and ensure that the product's circuits operate flawlessly.
Power Electronics Sector Accounts for the Largest Share
The efficiency of silicon carbide in operating at greater temperatures is the driving force behind the increasing use of SiC wafer polishing in electrical equipment. Its use in the power electronics market is being further propelled by its ability to convert power, which will increase demand for it in the upcoming years.
Furthermore, the LED sector is expected to expand quickly since it is widely used in the production of LED lighting. SiC wafers' extended shelf life is one of the primary causes driving their use in LEDs, which in turn drives demand for wafer polishing technology.
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Regional Insights
Which Region is Leading the Market?
Asia Pacific: SiC wafer sales in Asia Pacific have tremendous development possibilities as a result of growing public awareness of renewable energy. In five major Asian economies, India, China, Japan, the Philippines, and Indonesia-solar power is expected to rise exponentially, with an average annual growth rate of 22% until 2030, according to a report created by CREA, Ember, and IEEFA.
Europe: The need for electrical devices is increasing, and this is driving the SiC wafer polishing market in Europe. Because SiC is heavily integrated into electrical cars owing to its reduced weight and power handling capacity, Europe will rise quickly. Companies are trying to boost production in order to meet the region's growing demand for electric vehicles.
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Key Questions Answered in the Report
How big is the SiC wafer polishing market? What are the major growth drivers of the SiC wafer polishing industry? How much is the growth rate of the market during the forecast period? Which segments are covered by the report? What is the study period of the market? What are the key trends and opportunities in the market? Who are the SiC wafer polishing market key players?
Polaris Market Research has segmented the SiC wafer polishing market report based on product type, application, process, and region:
SiC Wafer Polishing, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)
Abrasive powders Polishing pads Diamond slurries Colloidal silica suspension Others
SiC Wafer Polishing, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Power Electronics Light-emitting diodes (LEDs) Sensors and detectors Rf and microwave devices Others
SiC Wafer Polishing, Process Outlook (Revenue - USD Billion, 2019 - 2032)
Mechanical polishing Chemical-mechanical polishing (CMP) Electropolishing Chemical polishing Plasma-assisted polishing Others
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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