SiC Wafer Reclaim Services Market Size By Diameter (Below 5 Inches, 5-10 Inches, above 10 Inches), By Application (Optoelectronics, Power Devices, High Temperature Devices, High Frequency Devices), COVID-19 Impact Analysis, Regional Outlook, Application D

SiC Wafer Reclaim Services Market Size By Diameter (Below 5 Inches, 5-10 Inches, above 10 Inches), By Application (Optoelectronics, Power Devices, High Temperature Devices, High Frequency Devices), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 - 2030

The global SiC wafers reclaim service market is speculated to register significant growth through 2030 owing to the rapidly expanding electrification trend in the automotive sector. The growing acceptance of automated solutions in various companies will also lead to an upsurge in product demand.

For instance, in 2018, Tesla, the well-known EV pioneer, began incorporating SiC devices inside their cars. Since then, several OEMs are working on changing to a zero-emission policy through the promotion of EVs.

The proliferating trend of e-mobility and the emergence of new energy markets will have a profound impact on SiC wafers reclaim service industry outlook. Companies are increasingly investing in wafer technology and are devising suitable development plans in accordance with the rising product demand. Improvement in the manufacturing process and increasing focus on the adoption of SiC products will push the market growth in the forthcoming years.

Based on diameter type, the 5-10 inches SiC wafer reclaim service market may depict an appreciable growth rate during the projection period. The robust trend of IoT adoption and the increasing penetration of smart devices have led to a substantial rise in the demand for 5-10 inch diameter components. Technological developments in artificial intelligence, automation, and 5G have prompted manufacturers to incline toward 5-10 inch diameter SiC wafers.

SiC fabs are switching from 15cm (6-inch) to 20cm (8-inch) wafers to minimize the high cost of creating SiC devices. Major SiC wafer producers and researchers are working on developing wafer sizes between 5-10 inches in order to improve manufacturing units per wafer.

With respect to applications, the SiC wafers reclaim service market size from optoelectronic devices segment is anticipated to grow at a CAGR of more than 10% between 2022-2030. The segment growth can be credited to the growing use of reclaimed SiC wafers in several optoelectronic devices including solar cells, optical fiber, blue lasers, telecommunications lasers, and photodiodes owing to the characteristics of the material, such as high heat resistance, quick cooling, and low dielectric loss at higher frequencies.

In terms of regional segmentation, the North America SiC wafer reclaim service market was worth over USD 150 million in 2021. The expansion of the regional SiC wafer reclaim industry will be driven by the rising number of government policies and efforts encouraging the development of optoelectronics in North American economies.

To take advantage of the upward trend in high-growth areas like electric vehicles (EVs), ADAS, energy infrastructure, and factory automation, semiconductor companies are taking charge and working on SiC capacity expansions. For instance, one of the leading American semiconductor suppliers, onsemi, announced the development of its SiC facility in Hudson, New Hampshire, in August 2022.

The emerging demand for EVs and growing requirement for automated devices across different sectors may push the market growth.