CHICAGO, Aug. 10, 2023 /PRNewswire/ -- The report "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", is expected to grow at a CAGR of 37.5% during the forecast period, from an estimated USD 0.4 billion in 2023 to USD 2.2 billion by 2028. Growing Consumption of Consumer Electronics, Growing demand for SIC-based power devices, Development of advanced polishing consumables, and Adoption of SiC wafers in radio frequency (RF) devices provide growth opportunities for Sic wafer polishing Market.
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Power Electronics, by application, is expected to be the most significant Sic wafer polishing Market segment during the forecast period.
Power electronics has the greatest market share in the SiC wafer polishing business, owing to the rapid expansion and demand for energy-efficient electronic gadgets. SiC wafers have distinct advantages in this field, such as strong thermal conductivity and a broad bandgap, making them ideal for power electronic components that require superior performance at high temperatures. With the increasing adoption of electric vehicles, renewable energy systems, and industrial applications, the need for high-power SiC-based devices has increased dramatically.
Chemical mechanical polishing is anticipated to be the fastest-growing Sic wafer polishing Market segment, by process, during the forecast period.
Chemical Mechanical Polishing (CMP) has dominated the SiC wafer polishing market due to its unique ability to provide a highly regulated and exact polishing process. CMP combines chemical reactions with mechanical abrasion to provide better planarization and surface smoothness on SiC wafers, which are required for high-performance semiconductor devices. Its success is also related to its compatibility with diverse SiC substrate types and its capacity to handle larger wafer sizes, answering the semiconductor industry's aspirations for advanced applications. Furthermore, CMP's efficacy in eliminating faults and impurities from SiC wafers makes it a favored alternative 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, becoming the market leader.
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Asia is expected to be the fastest-growing segment in the global Sic wafer polishing Market, by region, during the forecast period.
The Asia Pacific region is experiencing the fastest growth in the SiC wafer polishing market due to its increasing adoption of emerging technologies such as 5G, IoT, and AI, along with a thriving consumer electronics market, robust industrial and automotive sectors, and the presence of established semiconductor manufacturers and technology companies. These factors, combined with a growing focus on renewable energy and electric vehicle technologies, have fueled the demand for polished SiC wafers in the region, making it the dominant and rapidly expanding market in the global SiC wafer polishing industry.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Sic wafer polishing Market. These are Kemet International (UK), Entegris (US), Iljin Diamond (US), Fujimi Corporation (Japan), and Saint-Gobain (US).
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