SiC Wafer Polishing Market by Product Type (Abrasive Powders, Polishing Pads, Diamond Slurries, Colloidal Silica Suspensions), application, Process, & Region (North America, Europe, APAC, South America, MEA) - Global Forecast 2028
Updated on : March 19, 2024
SiC Wafer Polishing Market
The global SiC wafer polishing market was valued at USD 0.4 billion in 2023 and is projected to reach USD 2.2 billion by 2028, growing at 37.5% cagr from 2023 to 2028. Power electronics is one of the major applications of the Sic wafer polishing market and offers market growth opportunities. The polishing product sic wafer polishing centrifuge by product type segment is experiencing high growth rates in emerging regions such as Asia Pacific.
Attractive Opportunities in the SiC Wafer Polishing Market
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SiC Wafer Polishing Market Dynamics
Driver: Development of advanced polishing consumable
The advancement of advanced polishing consumables has a significant impact on the growth of the SiC wafer polishing market. Polishing consumables are items used in the wafer polishing process, including abrasive slurries, pads, and chemicals. The developments in these consumables have given various benefits to the SiC wafer polishing market, driving its growth and efficiency. One of the primary advantages of modern polishing consumables is their capacity to produce better levels of precision and uniformity in the wafer polishing process. As SiC wafers become thinner and more complicated in design, the demand for precise and consistent polishing grows. Advanced consumables are meant to enable greater control over material removal rates, surface roughness, and planarization, resulting in higher overall wafer quality. This is extremely critical for SiC wafers, as their unique properties require meticulous polishing to maintain their desired characteristics. Furthermore, modern polishing consumables improve productivity and cost-effectiveness in the SiC wafer polishing process. They are designed to improve polishing efficiency, reduce polishing time, and reduce material waste.
Restraint: Long cycle polishing times
The long polishing cycle time in the SiC wafer polishing industry might have a substantial impact on market growth and even hinder it. SiC wafers are widely utilized in a variety of industries, including power electronics, automotive, telecommunications, and aerospace, due to their exceptional qualities, such as high-temperature resistance, high power density, and low power loss. However, the polishing process used in the manufacture of SiC wafers is a critical and time-consuming phase. The increased polishing cycle time has a direct impact on the production capacity and throughput of SiC wafers. Because the polishing process takes longer, it affects overall manufacturing efficiency and slows the rate at which finished wafers may be produced. This can result in supply shortages and delays in meeting client requests, especially in industries with high demand. The SiC wafer polishing market is experiencing slow growth due to a variety of factors, including extended polishing cycle times. For starters, manufacturers' ability to scale up their operations and meet the increasing demand for SiC wafers is hampered by restricted production capacity.
Opportunities: Advancement in polishing technology
Polishing technology advancements create a substantial opportunity for the SiC wafer polishing market. As the demand for SiC wafers grows, more efficient, precise, and cost-effective polishing processes are required. The advancement of modern polishing technology allows for better process control, higher surface quality, and higher productivity. The opportunity resides in the SiC wafer polishing market's capacity to embrace these improvements and provide cutting-edge solutions. The market can meet the changing needs of SiC wafer manufacturers and end-users by adopting and refining novel polishing techniques. Surface flaws, homogeneity, and dimensional control can all be addressed by advanced polishing processes, assuring the manufacturing of high-quality polished SiC wafers. Polishing technology improvements include improved chemical mechanical planarization (CMP) techniques, innovative slurries, and optimized polishing pads. These methods contribute to higher material removal rates, lower surface roughness, and improved planarity. Polishing service providers and equipment manufacturers may address the demand for high-performance SiC wafers across multiple industries by incorporating these developments into their offerings.
Challenges: Intense competition and market consolidation
The SiC wafer polishing market faces major challenges due to intense rivalry and market consolidation. As demand for SiC wafers grows, the industry becomes more competitive, with multiple firms fighting for market share. This rivalry increases pricing pressures and diminishes profit margins, affecting the profitability and sustainability of SiC wafer polishing firms. Consolidation in the market adds to the difficulties. Mergers, acquisitions, and strategic alliances can result in a highly concentrated market dominated by a few companies. This consolidation has the potential to create entry hurdles for new players, reducing market diversity and innovation. Smaller enterprises may struggle to get market access and compete against well-established companies with existing client relationships and economies of scale. Intense rivalry and market consolidation pose various challenges to the expansion of the SiC wafer polishing market. To begin with, smaller players may find it difficult to compete successfully in terms of pricing and resources, limiting their potential to gain market share. This can hinder innovation and limit the market's diversity of products and services.
SIC WAFER POLISHING MARKET ECOSYSTEM
Manufacturers of sic wafer polishing who are well-known in the industry and have a secure financial situation. These businesses have a long history in the industry, a wide range of products, and effective international sales and marketing networks. Prominent companies in this market include 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).
The polishing pad segment, by product type, is expected to be the largest market during the forecast period.
Based on the product type, With the polishing pad type of the market, Sic wafer polishing centrifuge manufacturers can target a larger customer base across different industries. Due to their material-specific design, precision and uniformity capabilities, efficient material removal characteristics, compatibility with chemical slurry, continuous innovation, and increasing demand driven by the expanding applications of SiC wafers, polishing pads dominate the SiC wafer polishing market. These features combine to make polishing pads the preferred method for achieving the required surface smoothness and flatness for high-performance SiC semiconductor devices.
Based on process, the chemical mechanical polishing segment accounts for the largest share of the overall market.
Based on application, The chemical polishing segment accounts for the largest share of the globally; because of its effectiveness in eliminating faults and contaminants from SiC wafers, CMP is a popular method for producing reliable and high-quality devices. As a result of these benefits, CMP has the fastest-growing market share in the SiC wafer polishing market and has emerged as the go-to technology for semiconductor manufacturers seeking optimal wafer surface quality and productivity.
Asia Pacific is expected to account for the largest share of the global market during the forecast period.
Based on the region the Asia Pacific region is home to a large consumer electronics market, with a growing population and rising disposable incomes driving the demand for smartphones, tablets, and other electronic devices. SiC-based power devices are increasingly being incorporated into these consumer electronics for enhanced efficiency and longer battery life, further propelling the need for polished SiC wafers.
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Key Market Players
The SiC wafer polishing market is dominated by a few major players that have a wide regional presence. The key players in the Sic wafer polishing market include 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). In the last few years, the companies have adopted growth strategies such as acquisitions, new product launches, partnerships, contracts, and agreements to capture a larger share of the Sic wafer polishing market.
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- Latest News, Updates & Trend analysis
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Report Metric |
Details |
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Years considered for the study |
2019-2028 |
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Base Year |
2022 |
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Forecast period |
2023–2028 |
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Units considered |
Value (USD Million/Billion) |
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Segments |
Product type, process, application, and region. |
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Regions |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
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Companies |
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). |
This report categorizes the global Sic wafer polishing market based on product type, process, application, and region.
Based on By Process Type, the Sic wafer polishing market has been segmented as follows:
- Mechanical polishing
- Chemical-mechanical polishing (CMP)
- Electropolishing
- Chemical polishing
- Plasma-assisted polishing
- Others
Based on By Product type, the Sic wafer polishing market has been segmented as follows:
- Abrasive powders
- Polishing pads
- Diamond slurries
- Colloidal silica suspensions
- Others
Based on Application, the Sic wafer polishing market has been segmented as follows:
- Power Electronics
- Light-emitting diodes (LEDs)
- Sensors and detectors
- Rf and microwave devices
- Others
Based on the Region, the Sic wafer polishing market has been segmented as follows:
- North America
- Asia Pacific
- Europe
- Middle East & Africa
- South America
Recent Developments
- December 2019 Entegris Completes Acquisition of CABOT MICROELECTRONICS; the acquisition is helping Cabot Microelectronics become more critical to its semiconductor industry customers and touch more parts of its production processes.
- In November 2021, SKC will borrow 1.5 trillion won from Korea Development Bank (KDB) to expand its secondary battery and eco-friendly materials business.
- July 2021 Fujifilm Announces $350 Million Investment in its U.S. Electronic Materials Business; the planned U.S. investment will support the development and manufacture of Fujifilm’s broad range of semiconductor materials and chemicals, particularly Chemical Mechanical Polishing (CMP) slurry and Photolithography-related high purity materials.
- In July 2023, SKC decided to acquire ISC, a semiconductor test solution provider.
Frequently Asked Questions (FAQ):
What is the current size of the SiC wafer polishing market?
The current market size of the global SiC wafer polishing market is 0.4 billion in 2023.
What are the major drivers for the Sic wafer polishing market?
Adoption of SiC wafers in radio frequency (RF) devices, Development of advanced polishing consumables.
Which is the fastest-growing region during the forecasted period in the Sic wafer polishing market?
Asia Pacific is expected to be the fastest-growing region for the global Sic wafer polishing market between 2023–2028. also has a well-established regulatory framework that supports innovation and the adoption of new technologies in the semiconductor and electronics industries.
Which is the fastest-growing segment, by type, during the forecasted period in the SiC wafer polishing market?
By product type, the polishing pads segment is anticipated to be the fastest growing in the SiC wafer polishing market.
Which is the fastest growing segment by design type method during the forecasted period in the Sic wafer polishing market?
By application type, the power electronics segment is anticipated to be the fastest growing in the SiC wafer polishing market. .
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The study involved four major activities in estimating the market size of the Sic wafer polishing market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, trade directories, certified publications, articles from recognized authors, gold standard and silver standard websites, and databases.
Secondary research has been used to obtain key information about the value chain of the industry, the monetary chain of the market, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The Sic wafer polishing market comprises several stakeholders in the value chain, which include raw material suppliers, manufacturers, and end users. Various primary sources from the supply and demand sides of the Sic wafer polishing market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders in end-use sectors. The primary sources from the supply side include manufacturers, associations, and institutions involved in the Sic wafer polishing industry.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to Sic wafer polishing by product type, process type, applications, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of Sic wafer polishing and the future outlook of their business, which will affect the overall market.
The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2021 available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
To know about the assumptions considered for the study, download the pdf brochure
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Company Name |
Designation |
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Kemet Internatinal (UK) |
Regional Head |
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Entegris (US) |
Sales Manager |
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Fujimi Corporation (Japan) |
Director |
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Saint-Gobainl (US) |
Marketing Manager |
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JSR (Japn), |
R&D Manager |
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|
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Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the size of the Sic wafer polishing market.
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.
SiC Wafer Polishing Market: Bottum-Up Approach
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Note: All the shares are based on the global market size.
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
Sic Wafer Polishing Market: Top-Down Approach
Data Triangulation
After arriving at the total market size from the estimation process explained above, the overall market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated by using both the top-down and bottom-up approaches and primary interviews. Hence, for every data segment, there have been three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed correct when the values arrived from the three sources matched.
Market Definition
The SiC wafer polishing market is largely concerned with the production and refining of SiC wafers in order to meet the strict criteria of the semiconductor industry. Wafer polishing is the process of removing surface imperfections, faults, and contaminants from SiC substrates in order to obtain the requisite flatness, smoothness, and thickness uniformity. This procedure is crucial because it has a direct impact on the overall performance and yield of the electrical devices that are manufactured on these wafers because of its strong semiconductor and electronics businesses. It is segmented into product type, process, application, and region.
Key Stakeholders
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Report Objectives
- To define and describe the Sic wafer polishing market based on It is segmented into by product type, process, application, in terms of value.
- To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To estimate the market size in terms of value.
- To strategically analyze micromarkets1 with respect to individual growth trends, future expansions, and their contributions to the overall Sic wafer polishing market.
- To provide post-pandemic estimation for the Sic wafer polishing market and analyze the impact of the pandemic on market growth.
- To analyze market opportunities for stakeholders and the competitive landscape for market leaders.
- To forecast the growth of the Sic wafer polishing market with respect to five key regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa, along with their key countries.
- To strategically profile the key players and comprehensively analyze their core competencies2.
- To analyze competitive developments, such as investments & expansions, mergers & acquisitions, product launches, contracts & agreements, and joint ventures & collaborations in the Sic wafer polishing market
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application
Company Information
- Detailed analysis and profiles of additional market players
Growth opportunities and latent adjacency in SiC Wafer Polishing Market