SiC Wafer Polishing Market To Generate Revenue Worth $4,116.7 Million by 2030

The global SiC wafer polishing market is projected to generate USD 4,116.7 million revenue by 2030, advancing at a CAGR of 37.4% during 2024–2030. This can be ascribed to the rising industrialization rate, coupled with globalization; growing adoption of advanced polishing techniques and consumables; and rising demand for SiC wafers in the automotive and aerospace industries.

Moreover, the increasing demand for optoelectronics, growing investment in R&D, and governments’ favorable policies for the manufacturing sector are responsible for the high market growth rate.

Abrasive Powders Category Contributes Highest Revenue

The abrasive powders category, based on product type, accounted for the largest revenue share, of 45% in 2023, and it is further expected to maintain its dominance during the forecast period. This is because it provides greater-quality SiC wafers owing to its finer polishing abilities and effectiveness. In addition, there is a growing need for SiC wafers across a range of industries, including power and electronic devices, where accuracy and performance are essential. Abrasive powders provide an accurate solution that addresses all of these requirements, which is a key reason for their market dominance.

Based on application, the market is categorized into power electronics, light-emitting diodes (LEDs), sensors and detectors, RF and microwave devices, and others. Of these, the light-emitting diodes (LEDs) category will register significant growth in the coming years. This can be ascribed to the increasing acceptance of LEDs over traditional lighting products and rising consumer spending. Polished SiC wafers are required by LED manufacturers to enhance the output and quality of their products.

The power electronics category also contributes considerably to the market. This is owing to the expanding electrical infrastructure across the globe to cater to the rising demand for electricity. Power electronics products are a key component of modern grids, which is why the government efforts to enhance access to power ultimately drive the adoption of SiC wafer polishing products.

The chemical–mechanical polishing category, based on process type, contributed significant revenue in 2023. This process enjoys high popularity among manufacturers owing to its high reliability and effectiveness in fault and contaminant elimination from SiC wafers.

Geographically, APAC held the largest revenue share in 2023, and it is further expected to maintain its position during the forecast period. This is due to the fact that the region is the largest manufacturing hub for semiconductors and electronic devices. Additionally, the growing customer base associated with the rising regional population, increasing per capita income, and mounting construction activities boost the market advance.

Additionally, China generated the majority of the revenue in 2023, and it is further expected to maintain its position during the prediction period. This is due to the well-established semiconductor industry, rising investment and R&D activities in the manufacturing sector, and easy availability of raw materials.

North America will witness significant growth during the forecast period. This is due to the presence of prominent players, burgeoning demand for consumer electronics, high adoption of advanced technology, and growing automotive and aerospace industries. Moreover, the U.S. contributes the higher revenue to the regional market, owing to the rising manufacturing of EVs, increasing power electronics demand, and high per capita income.

Some of the major players in the SiC wafer polishing market are Kemet International Ltd., Entegris Inc., Iljin Diamond Co. Ltd., 3M Company, Engis Corporation, Ferro Corporation, DuPont de Nemours Inc., SKC Inc., and FUJIFILM Holdings America Corporation.