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Global SiC Wafer Polishing Market to reach USD 3.72 billion by the end of 2030.

Global SiC Wafer Polishing Market Size study & Forecast, by Process Type (Mechanical polishing, Chemical-mechanical polishing, Electropolishing, Others), by Product Type (Abrasive powders, Polishing pads, Diamond slurries, Others), by Application (Power Electronics, Light-emitting diodes, Sensors and detectors, Others) and Regional Analysis, 2023-2030

Product Code: ENGE-41923266
Publish Date: 20-12-2023
Page: 200

Global SiC Wafer Polishing Market is valued at approximately USD 0.29 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 37.5% over the forecast period 2023-2030. Silicon Carbide (SiC) wafer polishing is a critical process in the fabrication of semiconductor devices, particularly for applications in power electronics and high-frequency devices. Polishing SiC wafers involves several steps to achieve a smooth and defect-free surface. The SiC Wafer Polishing Market is expanding because of factors such as the rising number of electric vehicle production and growing demand for consumer electronics. As a result, the demand for SiC Wafer Polishing has progressively increased in the international market during the forecast period 2023-2030.

SiC wafers are a crucial component in the manufacturing of power electronics for electric vehicles. They offer higher efficiency and better performance compared to traditional silicon-based devices. They can handle higher temperatures and voltages, making them ideal for electric vehicle applications. According to Statista, in 2022, BYD emerged as the leading global manufacturer of electric vehicles, producing approximately 1.86 million units worldwide. This positioned the Chinese company ahead of competitors, with Tesla and the Volkswagen Group securing the second and third spots in the rankings. Tesla manufactured an estimated 1.31 million electric vehicles, while the Volkswagen Group produced around 839,200 plug-in electric vehicles over the same period. Another important factor that drives the SiC Wafer Polishing Market is the increasing demand for consumer electronics. Consumer electronics often drive technological advancements, such as the development of smaller, more powerful, and energy-efficient devices. SiC wafers are known for their excellent thermal conductivity and high breakdown voltage, making them suitable for advanced electronic components. As consumer electronics push the boundaries of technology, SiC wafers with superior properties become more essential, impacting the demand for high-quality polishing. In addition, according to Statista, the consumer electronics market is expected to develop steadily from 2023 to 2028, with a total increase of approximately 11.9% within mentioned period of time. Moreover, the growing demand for SiC-based power devices and the development of advanced polishing consumables are anticipated to create a lucrative growth opportunity for the market over the forecast period. However, the high cost associated with SiC Wafer Polishing and the lack of skilled professionals in precision polishing of SiC wafers is going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global SiC Wafer Polishing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the growing population and rising disposable incomes driving the demand for smartphones, tablets, and other electronic devices in the region. Rising incomes often lead to increased adoption of technology, and electronic devices become essential tools for communication, work, entertainment, and education. The region’s dominant performance is anticipated to propel the overall demand for SiC Wafer Polishing. Furthermore, North America is expected to grow fastest over the forecast period, owing to factors such as significant investments in research and development in the region. R&D activities often target increasing the yield of high-quality SiC wafers while simultaneously reducing production costs. This is crucial for making SiC technology more economically viable and accessible for a broader range of applications.

Major market player included in this report are:
Kemet International Limited
Iljin Diamond Co., Ltd
Fujimi Corporation
Saint-Gobain Corporation
JSR Corporation
Engis Corporation
Ferro Corporation
3M Company
DuPont Incorporated
Fujifilm Holding America Corporation

Recent Developments in the Market:
Ø In October 2023, Revasum, Inc., a forefront provider of advanced semiconductor manufacturing equipment, is excited to announce a strategic alliance with SGSS, a global leader in high-performance materials and inventive solutions. This collaborative venture is poised to reshape the semiconductor landscape through the development of an innovative range of grinding wheels meticulously tailored for Silicon Carbide (SiC) wafers. Recognized as a pivotal material in the fabrication of power devices, Silicon Carbide has garnered considerable attention in the semiconductor industry owing to its exceptional properties. The surge in demand for SiC wafers underscores the industry’s need for top-tier quality, and this partnership seeks to deliver cutting-edge solutions to meet the dynamic requirements of the market.

Global SiC Wafer Polishing Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Process Type, Product type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

by Process Type
Mechanical polishing
Chemical-mechanical polishing (CMP)
Chemical polishing
Plasma-assisted polishing

by Product type
Abrasive powders
Polishing pads
Diamond slurries
Colloidal silica suspensions

by Application
Power Electronics
Light-emitting diodes (LEDs)
Sensors and detectors
Rf and microwave devices

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. SiC Wafer Polishing Market, by Region, 2020-2030 (USD Billion)
1.2.2. SiC Wafer Polishing Market, by Process Type, 2020-2030 (USD Billion)
1.2.3. SiC Wafer Polishing Market, by Product type, 2020-2030 (USD Billion)
1.2.4. SiC Wafer Polishing Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global SiC Wafer Polishing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global SiC Wafer Polishing Market Dynamics
3.1. SiC Wafer Polishing Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising number of electric vehicle production Growing demand for consumer electronics
3.1.2. Market Challenges High cost associated with SiC Wafer Polishing Lack of skilled professionals in precision polishing of SiC wafers
3.1.3. Market Opportunities Growing demand for SiC-based power devices Development of advanced polishing consumable
Chapter 4. Global SiC Wafer Polishing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global SiC Wafer Polishing Market, by Process Type
5.1. Market Snapshot
5.2. Global SiC Wafer Polishing Market by Process Type, Performance – Potential Analysis
5.3. Global SiC Wafer Polishing Market Estimates & Forecasts by Process Type 2020-2030 (USD Billion)
5.4. SiC Wafer Polishing Market, Sub Segment Analysis
5.4.1. Mechanical polishing
5.4.2. Chemical-mechanical polishing (CMP)
5.4.3. Electropolishing
5.4.4. Chemical polishing
5.4.5. Plasma-assisted polishing
5.4.6. Others
Chapter 6. Global SiC Wafer Polishing Market, by Product type
6.1. Market Snapshot
6.2. Global SiC Wafer Polishing Market by Product type, Performance – Potential Analysis
6.3. Global SiC Wafer Polishing Market Estimates & Forecasts by Product type 2020-2030 (USD Billion)
6.4. SiC Wafer Polishing Market, Sub Segment Analysis
6.4.1. Abrasive powders
6.4.2. Polishing pads
6.4.3. Diamond slurries
6.4.4. Colloidal silica suspensions
6.4.5. Others
Chapter 7. Global SiC Wafer Polishing Market, by Application
7.1. Market Snapshot
7.2. Global SiC Wafer Polishing Market by Application, Performance – Potential Analysis
7.3. Global SiC Wafer Polishing Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. SiC Wafer Polishing Market, Sub Segment Analysis
7.4.1. Power Electronics
7.4.2. Light-emitting diodes (LEDs)
7.4.3. Sensors and detectors
7.4.4. Rf and microwave devices
7.4.5. Others
Chapter 8. Global SiC Wafer Polishing Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. SiC Wafer Polishing Market, Regional Market Snapshot
8.4. North America SiC Wafer Polishing Market
8.4.1. U.S. SiC Wafer Polishing Market Process Type breakdown estimates & forecasts, 2020-2030 Product type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada SiC Wafer Polishing Market
8.5. Europe SiC Wafer Polishing Market Snapshot
8.5.1. U.K. SiC Wafer Polishing Market
8.5.2. Germany SiC Wafer Polishing Market
8.5.3. France SiC Wafer Polishing Market
8.5.4. Spain SiC Wafer Polishing Market
8.5.5. Italy SiC Wafer Polishing Market
8.5.6. Rest of Europe SiC Wafer Polishing Market
8.6. Asia-Pacific SiC Wafer Polishing Market Snapshot
8.6.1. China SiC Wafer Polishing Market
8.6.2. India SiC Wafer Polishing Market
8.6.3. Japan SiC Wafer Polishing Market
8.6.4. Australia SiC Wafer Polishing Market
8.6.5. South Korea SiC Wafer Polishing Market
8.6.6. Rest of Asia Pacific SiC Wafer Polishing Market
8.7. Latin America SiC Wafer Polishing Market Snapshot
8.7.1. Brazil SiC Wafer Polishing Market
8.7.2. Mexico SiC Wafer Polishing Market
8.8. Middle East & Africa SiC Wafer Polishing Market
8.8.1. Saudi Arabia SiC Wafer Polishing Market
8.8.2. South Africa SiC Wafer Polishing Market
8.8.3. Rest of Middle East & Africa SiC Wafer Polishing Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Kemet International Limited Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Iljin Diamond Co., Ltd
9.3.3. Fujimi Corporation
9.3.4. Saint-Gobain Corporation
9.3.5. JSR Corporation
9.3.6. Engis Corporation
9.3.7. Ferro Corporation
9.3.8. 3M Company
9.3.9. DuPont Incorporated
9.3.10. Fujifilm Holding America Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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