SIC Wafer Polishing Market Size, Share, Growth Drivers and Regional Analysis, Global Forecast 2024 - 2031

AUSTIN, TEXAS, UNITED STATES, June 19, 2024 /EINPresswire.com/ --

The SNS Insider report estimates the SIC Wafer Polishing Market size at USD 0.48 billion in 2023, with a projected CAGR of 38.22% to reach USD 6.46 billion by 2031. The SiC wafer polishing market is growing because of better polishing materials that allow for more precise and even polishing of SiC wafers which are becoming more complex. This is important for the performance of electronics made with SiC, which are used in power electronics, cars, and other areas. It takes a long time to polish these wafers which slows down the market. The opportunity is to develop new polishing methods like improved chemical mechanical polishing (CMP), slurries and pads that can polish wafers faster and meet the growing demand for high-quality SiC wafers.

The rise of SiC wafers is being driven by their use in power electronics.

- These wafers are perfect for power electronics because they can handle high temperatures and voltages, with minimal energy loss. This makes them ideal for electric vehicles, renewable energy systems, and other applications demanding efficient power management. As these industries grow, the need for precisely polished SiC wafers will keep pace.
- The SiC wafer polishing market is growing due to heavy investments in research and development by major players like 3M and Entegris These companies are aiming to offer more products and become leaders in the market. Mergers and acquisitions are also on the rise, with Mitsui Mining & Smelting acquiring Novellus Systems for $1.5 billion to gain expertise in SiC wafer polishing equipment. The SiC wafer market needs faster and better polishing methods to keep up with demand. New ways to polish wafers, like improved chemical cleaning and special pads, are being developed to make the process quicker and more precise. This will allow companies to produce more SiC wafers for electronics like power systems and electric cars.

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KEY PLAYERS:
- Kemet International (UK)
- Entegris (US)
- Iljin Diamond (US)
- Fujimi Corporation (Japan)
- Saint-Gobain (US)
- JSR Corporation (Japan)
- Engis Corporation (US)
- Ferro Corporation (US)
- 3M (US)
- SKC (South Korea)
- DuPont Incorporated (US)
- Fujifilm Holding America Corporation (US)

Polishing pads are expected to dominate the SiC wafer polishing market due to their wide applicability across various industries.

Polishing pads claim the top spot in the SiC wafer polishing market due to their unmatched capabilities. They are specially made to work well with SiC wafers, allowing for precise and even polishing. They efficiently remove material while remaining compatible with the special slurries used in the polishing process. Because pad technology is always getting better, they are the best way to get the smooth, flat surfaces needed for high-performance SiC semiconductors used in more and more devices. Chemical Mechanical Polishing (CMP) is the dominant segment of SiC wafer polishing. It's popular because it cleans wafers effectively resulting in top-quality SiC devices. This makes CMP the go-to method for manufacturers looking for the best wafer surfaces and production efficiency.

Recent Developments

-In October 2023, Global Wafers a company that makes silicon wafers says they've made big improvements with their 8-inch SiC wafers. They plan to start making a small number of these wafers by the end of 2024.
-In September 2023, In a move to boost SiC wafer technology, two industry giants have joined forces. American company Lam Research Corporation and Japan's Tokyo Electron Limited (TEL) have partnered up. Their goal? To develop and bring to market brand new equipment specifically designed for cleaning SiC wafers. This collaboration signifies a significant step forward for the SiC wafer industry.

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The Asia Pacific is the dominant region in the SiC wafer polishing market and this dominance is expected to continue.

This is due to an increasing consumer electronics market fueled by a large and growing population with rising disposable incomes. As these consumers snap up smartphones, tablets, and other devices, manufacturers are increasingly using SiC-based power devices for their efficiency and battery life benefits. This in turn drives demand for polished SiC wafers. Asia Pacific is a leader in renewable energy adoption with solar power projected to surge across key economies like China and India. Since SiC wafers can handle higher temperatures and voltages compared to silicon, they are ideal for renewable energy applications like solar inverters, further solidifying Asia Pacific's market dominance.

Key Takeaways

-The SiC wafer polishing market is doing well because more and more devices are using SiC semiconductors. These semiconductors are ideal for electronics that power electric vehicles and use renewable energy sources.
-Innovation in polishing consumables and technology is crucial for meeting the demand for high-performance SiC wafers.
-Asia Pacific leads the market due to its growing consumer electronics industry and growing adoption of renewable energy sources both of which rely heavily on SiC wafers.

Table of Content – Analysis of Key Points

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. SIC Wafer Polishing Market Impact Analysis
Chapter 4.1 COVID-19 Impact Analysis
Chapter 4.2 Impact of Ukraine- Russia war
Chapter 4.3 Impact of ongoing Recession
Chapter 5. Value Chain Analysis
Chapter 6. Porter’s 5 forces model
Chapter 7. PEST Analysis
Chapter 8. SIC Wafer Polishing Global Market, by Process Type
Chapter 9. SIC Wafer Polishing Global Market, by Product Type
Chapter 10. SIC Wafer Polishing Global Market, by Application
Chapter 11. Regional Outlook
Chapter 12. Competitive Intelligence
Chapter 13. Key Companies Analysis
Chapter 14. Research Process

Continued…

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