SiC-on-insulator and Other Substrates Market by Substrates Type (Semi-Insulating SiC Substrates and Conductive SiC Substrates), by Wafer Size (100mm, 150 mm, and 200 mm), by Application (Power Devices, Radio Frequency devices, and Optoelectronics Devices), and by End-User (IT & Telecommunications, Industrial, Aerospace & Defense, Automotive, Healthcare, and Others) – Global Opportunity Analysis and Industry Forecast, 2024–2030
SiC-On-Insulator and Other Substrates Market Overview
The global SiC-On-Insulator and Other Substrates Market size was valued at USD 92.9 million in 2023 and is predicted to reach USD 162.8 million by 2030 with a CAGR of 8.3% from 2024 to 2030.
The SiC-on-insulator and other substrates market refers to the materials used for the production of semiconductor devices with superior thermal conductivity, high breakdown voltage, and high chemical stability. The common applications include power electronics, radio frequency (RF) devices, and high-temperature environments, particularly in automotive, aerospace, and other sectors for improving efficiency and higher performance.
As compared to alternatives and traditional silicon substrates, SiC substrates offer better thermal management and operational reliability that makes them a preferred choice for advanced semiconductor applications.
Market Dynamics and Trends
The expansion in the semiconductor sector drives the SiC-on-insulator and other substrates market growth as technology advances, there is an increasing demand for high-performance semiconductor devices used in various applications, including consumer electronics, automotive systems, and renewable energy solutions. These applications require substrates that offer superior thermal conductivity and electrical efficiency, making SiC-on-insulator materials essential in meeting these demands.
As per the latest report published by the Semiconductor Industry Association (SIA), the global semiconductor industry sales accounted to USD 46.4 billion in April 2024 as compared to USD 40.1 billion in April 2023, representing an increase of 15.8%. This expansion in semiconductor sales highlights the need for SiC substrates to meet the growing demand of high-performance applications across various sectors.
Additionally, rising military expenditure propels the demand of silicon carbide (SiC)-on-insulator and other substrate industry, as nations prioritize defense modernization through investments in advanced technologies. The focus on upgrading defense capabilities fuels the need for SiC substrates for superior thermal stability and electrical efficiency of communication devices used in defense applications.
As per the latest report published by the Stockholm International Peace Research Institute (SIPRI), the global military expenditure accounted to USD 2443 billion in 2023, representing a growth rate of 6.8% from 2022. Thus, the increasing military expenditure stimulates the market for materials with high thermal conductivity and the ability to manage high voltages.
Moreover, the rising adoption of electric vehicles (EVs), drives the demand for SiC-on-insulator and other substrates for improved power management and efficiency. As EV’s demand materials that support high thermal conductivity and durability, SiC substrates are essential for optimizing drivetrain and charging systems, thereby propelling the growth of the market.
As per the latest report published by the International Energy Agency (IEA), the global electric car sales accounted for 14 million in 2023 compared to 10.5 million in 2022, representing a growth of 33.33% from 2022. The surge in electric vehicles in the world accelerates the demand for substrates to enhance vehicle performance and battery efficiency.
However, the high upfront material and fabrication costs of SiC substrates and other substrates restrains the SiC-on-insulator and other substrates market expansion.
On the contrary, the integration of smartSiC into SiC-on-insulator is anticipated to create future opportunity of the market. Through incorporating smartSiC within SiC substrates, manufacturers achieve better control over power density, enabling devices to operate at higher voltages and temperatures with greater reliability that ultimately extends the lifespan and operational stability of electronic device.
For instance, in September 2024, Soitec collaborated with Resonac to produce 200mm SmartSiC wafers that aims for efficiency, high-performance substrates along with sustainability goals to be used in electric vehicles and industrial sector.
Market Segmentations and Scope of the Study
The SiC-on-insulator and other substrates market report is divided on the basis of substrates type, wafer size, application, end-user, and region. On the basis of substrates type, the market is divided into semi-insulating SiC substrates and conductive SiC substrates. On the basis of wafer size, the market is segmented into 100mm, 150 mm, and 200 mm. On the basis of application, the market is classified into power devices, radio frequency devices, and optoelectronics devices. On the basis of end-user, the market is segmented into IT & telecommunications, industrial, aerospace & defense, automotive, healthcare, and others. Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America dominates the SiC-on-insulator and other substrates market share and is projected to maintain its dominance throughout the forecast period due to the rising military expenditure in the region. This is attributed to the high demand of substrates in military systems such as radar and power modules for thermal resilience, high breakdown strength, and resistance to radiation.
As per the latest report published by the Stockholm International Peace Research Institute (SIPRI), the U.S. military spending accounted for USD 877 billion in 2022. Thus, growing military expenditure accelerates for innovation and scale production of the market to support intensified mission operations.
Moreover, the expansion of the healthcare sector increases the demand for advanced medical equipment that requires high-performance electronic components to ensure reliability, efficiency, and precision in diagnostics and treatment. The surge in need for sophisticated medical technologies drives the demand for SiC-on-insulator substrates to provide the necessary thermal management and electrical efficiency essential for the operation of complex medical devices.
As per the latest report published by the Canadian Institute for Health Information, the total healthcare expenditure in Canada reached to USD 344 billion in 2023, representing 12.1% of Canada’s gross domestic product (GDP) in 2023. The surge in healthcare expenditure propels the market through highlighting the requirement of more substrates to meet the specialized demands for advanced medical electronics within the sector.
On the other hand, the Asia-Pacific region is expected to show a steady rise in the SiC-on-insulator and other substrates market demand. The rising adoption of electric vehicles drives the demand for SiC substrates to enhance power efficiency, enable high-performance power electronics, and support the advanced thermal management needed for efficient operation and improved vehicle performance.
As per the latest report published by the International Energy Agency (IEA), the electric vehicle sale in China accounted for 8.1 million in 2023 as compared to for 6 million in 2022, representing a growth rate of 35% from 2022. The growth in EV accelerates for sustainability and reduced carbon emissions and boosts the market for innovations of SiC substrates.
Furthermore, the growing robotics industry fuels the market growth as modern robotics requires durable, high-efficiency semiconductor materials including SiC substrates to withstand high temperature and deliver superior power performance in both industrial and service robots.
As per the latest report published by the International Trade Administration (ITA), the orders for industrial robots in Japan accounted to USD 7.35 billion in 2022, representing 1.16% growth from 2021. Thus, the surge in robotics industry increases the demand for SiC substrates due to complex and specialized performance requirement in robotics.
Competitive Landscape
The various key players operating in the SiC-on-insulator and other substrates industry includes Wolfspeed, Inc., SICC Co. Ltd., Coherent Corp., GlobalWafers, Qorvo Inc., Aixtron SE, Sicoxs Corporation, Broadcom Inc., Infineon Technologies AG, Soitec, and others. These market players are adopting various strategies such as product launches and collaboration to stay competitive and maintain their market positions.
For instance, in September 2024, Coherent Corp. launched 200 mm silicon carbide epitaxial wafers to enhance the efficiency and reliability of power devices. Through this launch, it aims to increase the demand for high-performance SiC substrates, particularly in the automotive and industrial sectors.
Additionally, in May 2023, Infineon collaborated with SiCC Co. Ltd. to enhance its silicon carbide (SiC) supply chain and secure a stable supply of SiC substrates for producing high-performance power devices. The partnership aims to strengthen Infineon's position in the growing SiC market for applications in electric vehicles and renewable energy systems.
Moreover, in December 2022, Soitec collaborated with STMicroelectronics to enhance SiC substrate manufacturing technology. Through this collaboration, it aims to combine Soitec’s substrate technology expertise with STMicroelectronics power device manufacturing capabilities to improve the performance of SiC wafers for power electronics and meet the growing demand for advanced SiC solutions.
Key Benefits
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The report provides quantitative analysis and estimations of the SiC-on-insulator and other substrates industry from 2024 to 2030, which assists in identifying the prevailing market opportunities.
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The study comprises a deep dive analysis of the current and future SiC-on-insulator and other substrates market trends to depict prevalent investment pockets in the market.
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Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
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Competitive analysis of the players, along with their market share is provided in the report.
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SWOT analysis and Porters Five Forces model is elaborated in the study.
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Value chain analysis in the market study provides a clear picture of roles of stakeholders.
SiC-On-Insulator and Other Substrates Market Key Segments
By Substrates Type
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Semi-Insulating SiC Substrates
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Conductive SiC Substrates
By Wafer Size
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100mm
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150 mm
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200 mm
By Application
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Power Devices
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Radio Frequency devices
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Optoelectronics Devices
By End-User
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IT & Telecommunications
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Industrial
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Aerospace & Defense
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Automotive
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Healthcare
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Others
By Region
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North America
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The U.S.
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Canada
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Mexico
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Europe
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The UK
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia Pacific
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RoW
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Latin America
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Middle East
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Africa
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Key Players
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Wolfspeed, Inc.
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SICC Co. Ltd.
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Coherent Corp.
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GlobalWafers
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Qorvo Inc.
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Aixtron SE
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Sicoxs Corporation
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Broadcom Inc.
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Infineon Technologies AG
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Soitec
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 92.9 Million |
|
Revenue Forecast in 2030 |
USD 162.8 Million |
|
Growth Rate |
CAGR of 8.3% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Countries Covered |
28 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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