Silicon Carbide Wafer Market Size And Trends

The global silicon carbide wafer market is set to grow rapidly, reaching US$8.29 billion by 2032, up from around US$2.27 billion in 2025, at a CAGR of 20.3% during the forecast period 2025-2032. Electric vehicle (EV) transition, investments in renewables, smart grid infrastructure, and 5G expansion push the market forward.

Recent Developments:

• The market for silicon carbide wafers faces turbulence owing to Wolfspeed’s Chapter?11 restructuring, a move expected to reshape U.S. SiC supply chains despite its 33.7% global market share in 2024.
• A U.S.–Bosch partnership worth US$?225?million will support building a new SiC power semiconductor line in California, expected to be operational by 2026.
• Price pressures from Chinese manufacturers are pushing SiC wafer prices down significantly, a trend altering global cost dynamics.

Silicon Carbide Market in News:

• June 2025: CG Power’s semiconductor plans are facing uncertainty as key supplier Wolfspeed, a major SiC wafer manufacturer, moves toward bankruptcy to restructure US$ 4.6 billion in debt. This turmoil raises concerns over supply stability for the CG Power–Renesas OSAT facility in Sanand. The situation highlights growing volatility in the global SiC semiconductor market, impacting the entire supply chain, from wafer production to advanced chip packaging.
• May 2025: China’s largest silicon carbide (SiC) wafer facility, built by Anhui Yangtze Optical Fiber & Cable Advanced Semiconductor in Wuhan’s Optics Valley, has officially begun production. With a US$ 2.8 billion investment, the high-tech plant manufactures 6-inch SiC wafers with a 97% initial yield and an annual capacity of 360,000 units, sufficient for 1.44 million new energy vehicles.

Regional Analysis

Asia Pacific is projected to dominate with 49% of the silicon carbide wafer market share, powered by a rising demand for high-power semiconductors in automotive electronics, telecommunications, and renewables. Government-backed energy efficiency initiatives and the rapid scale-up of electric vehicle manufacturing are also feeding market growth. China leads the region with extensive semiconductor fabrication capabilities, supported by firms such as San’an Optoelectronics and Tankeblue Semiconductor.

North America is also experiencing accelerated growth in the SiC wafer market, fueled by increasing EV adoption and expanding renewable energy infrastructure. The U.S. CHIPS and Science Act of 2022 is catalyzing domestic semiconductor production, while automakers such as BMW, GM, and Honda are investing in high-power EV charging networks. The launch of IONNA’s 30,000-point charging network and BP Pulse’s ultrafast EV stations further reinforces the region’s momentum in SiC-based power electronics.

Industry Players

The SiC wafer market brings together established global leaders and eager newcomers. Wolfspeed still leads but now faces competition from TanKeBlue and SICC. Others, such as Infineon, ON Semiconductor, and STMicroelectronics, are rapidly enhancing capacity building, and strategic investments. The move to 8-inch wafer production is reshaping competition, since larger wafers reduce cost per chip and improve yield. Companies focusing on higher output, yield optimization, and vertical integration are likely to lead the evolving SiC wafer ecosystem.