Global SiC Substrates Market to Surpass USD 1.72 Billion By 2031| Growth Market Reports

PUNE, India, June 26, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global SiC Substrates Market Segments - by Type (Semi-insulating SiC Substrates and Conductive SiC Substrates), by End-use Industry (Consumer Electronics, Automotive, Energy & Power, IT & Telecommunication, Aerospace & Defense, and Others) and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 0.41 Bn in 2022 and is expected to surpass USD 1.72 Bn expanding at a CAGR of 20.4% by the end of 2031. The market is projected to be propelled by the growing demand for Silicon Carbide (SiC) in power electronics.

Recent Developments:

In May 2022, the Japanese SiC wafer manufacturer Showa Denko (SDK) proposed a project for the development of SiC wafers for the next generation of green power semiconductors to the New Energy and Industrial Technology Development Organization. This is expected to help the company reach carbon neutrality.

Key Market Players Profiled in the Report

• WOLFSPEED, INC.
• SiCrystal GmbH
• SICC Co., Ltd.
• Coherent Corp.
• Sk Siltron css
• Entegris
• CoorsTek
• PAM-XIAMEN
• Atecom Technology Co.,Ltd.
• AMERICAN ELEMENTS

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, end-use industry, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Regional Highlights:

On the basis of region, the global SiC substrates market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is projected to dominate the global market owing to the high investments and development of the semiconductor industry. This development is also supported by favorable government policies in countries such as Taiwan, China, Japan, and South Korea due to which the region's semiconductor industry growing at a fast pace.

North America is expected to be a rapidly growing region in the global market during the projected period, owing to the increasing emphasis on the development of clean steel. The use of silicon carbide offers cleaner steel with a lower level of emissions which leads to growing product demand from the domestic steel-making sector.

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Key Takeaways from the Study:

• Silicon Carbide (SiC) substrate is a type of semiconductor material that has unique electrical and thermal properties. It can be doped p-type by beryllium, boron, aluminum, or gallium and n-type by nitrogen or phosphorus.
• Semiconductors that are based on silicon carbide offer higher electron mobility, higher thermal conductivity, and lower power losses. This leads to significant efficiency gains through decreased cooling requirements, miniaturization advancements, and lower overall system costs.
• The growing demand for SiC in power electronics is anticipated to propel the market during the forecast period. Numerous power devices are now available in the power electronics industry which can convert alternating current into direct current (or vice versa) in the systems. In addition, the use of silicon carbide helps to minimize energy loss and increase efficiency.
• Silicon carbide (SiC) is one of the widely used materials for the production of semiconductors, especially medium to high-voltage power semiconductors due to its intrinsic properties such as high thermal conductivity and wide band gap.
• The semi-insulating SiC substrates segment is projected to dominate the market due to its wide range of applications. For instance, the semi-insulating SiC substrate can be used to fabricate the radio frequency transistor for strengthening or switching electrical signals and power.
• The consumer electronics segment is projected to dominate the market during the forecast period. The growth of the segment is attributed to the ongoing adoption of SiC substrate-based semiconductors in consumer electronics such as mobile phones, laptops, and LED lighting.

Read 196 Pages Research Report with Detailed TOC on "Global SiC Substrates Market Segments - by Type (Semi-insulating SiC Substrates, Conductive SiC Substrates), by End-use Industry (Consumer Electronics, Automotive, Energy & Power, IT & Telecommunication, Aerospace & Defense, Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

By Type

• Semi-insulating SiC Substrates
• Conductive SiC Substrates

By End-use Industry

• Consumer Electronics
• Automotive
• Energy & Power
• IT & Telecommunication
• Aerospace & Defense
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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