According to Next Move Strategy Consulting, the global SiC-On-Insulator and Other Substrates Market is set to experience significant growth, with its market size value and projected to reach USD 163 million by 2030, growing at a CAGR of 8% from 2024 to 2030. This growth is driven by increasing demand for high-performance semiconductor devices across multiple sectors including automotive, aerospace, defense, and healthcare.

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SiC-on-insulator (Silicon Carbide) and other advanced substrates are vital materials used in semiconductor manufacturing, known for their superior thermal conductivity, high breakdown voltage, and chemical stability. These properties make them an ideal choice for applications requiring efficient thermal management and electrical reliability—particularly in power electronics, RF (radio frequency) devices, and high-temperature environments.

Market Drivers and Growth Factors

The rapidly expanding semiconductor industry is one of the primary drivers fueling market growth. According to the Semiconductor Industry Association (SIA), global semiconductor sales reached USD 46 billion in April 2024, marking a 15.8% increase from the previous year. This highlights the growing demand for SiC substrates in applications that require better thermal management and higher performance.

Additionally, global military expenditure reached USD 2443 billion in 2023, reflecting a 6.8% increase from 2022, as per the Stockholm International Peace Research Institute (SIPRI). The rise in military spending—particularly for modern defense communication devices requiring superior thermal stability—further propels demand for SiC-on-insulator substrates.

The surging adoption of electric vehicles (EVs) is another significant contributor to market expansion. EV sales grew from 10.5 million in 2022 to 14 million in 2023, a 33.33% increase. The need for materials that can enhance battery performance and power efficiency makes SiC substrates increasingly crucial in the automotive industry.

However, high upfront costs associated with material fabrication and processing of SiC substrates remain a challenge, restraining wider adoption. Nonetheless, technological advancements, such as the integration of smartSiC technology, present promising opportunities. SmartSiC enables better control over power density and efficiency, allowing devices to operate reliably at higher voltages and temperatures, extending device life and performance.

Market Segmentation

The global SiC-on-insulator and other substrates market is segmented as follows:

• By Substrate Type:
  • Semi-Insulating SiC Substrates
  • Conductive SiC Substrates
• By Wafer Size:
  • 100mm
  • 150mm
  • 200mm
• By Application:
  • Power Devices
  • Radio Frequency Devices
  • Optoelectronics Devices
• By End-User:
  • IT & Telecommunications
  • Industrial
  • Aerospace & Defense
  • Automotive
  • Healthcare
  • Others
• By Region:
  • North America (U.S., Canada, Mexico)
  • Europe (UK, Germany, France, Italy, and others)
  • Asia-Pacific (China, Japan, India, South Korea, and others)
  • Rest of the World (Latin America, Middle East, Africa)

Regional Insights

North America leads the market share, driven by increasing military expenditure and technological advancements. Demand for SiC substrates in defense applications, such as radar systems and power modules, is significantly high due to their ability to withstand harsh environments and high radiation levels.

Moreover, the growing healthcare sector boosts market growth in this region. As reported by the Canadian Institute for Health Information, Canada’s healthcare expenditure reached USD 344 billion in 2023, representing 12.1% of GDP. Advanced medical devices require reliable thermal and electrical management, further increasing demand for SiC-on-insulator substrates.

Asia-Pacific is projected to witness steady growth due to its expanding automotive and industrial sectors. The rapid adoption of electric vehicles is a major growth driver. According to the International Energy Agency (IEA), China alone accounted for 8.1 million EV sales in 2023, a 35% increase from the previous year.

Additionally, the growing robotics industry in Asia further fuels the demand for SiC substrates. As per the International Trade Administration (ITA), industrial robot orders in Japan reached USD 7.35 billion in 2022, up 1.16% from 2021. Robotics applications require high-temperature-resistant and efficient semiconductor materials, propelling SiC substrate demand.

Competitive Landscape

Key market players are focusing on product innovations, strategic partnerships, and technological advancements to strengthen their market positions. Major companies include:

• Wolfspeed, Inc.
• SICC Co. Ltd.
• Coherent Corp.
• GlobalWafers
• Qorvo Inc.
• Aixtron SE
• Sicoxs Corporation
• Broadcom Inc.
• Infineon Technologies AG
• Soitec

These players are investing heavily in R&D to develop next-generation SiC-on-insulator technologies and capitalize on emerging market opportunities, particularly in EVs, aerospace, defense, and healthcare sectors.

Key Benefits of the Market Study

• Provides market size estimations and growth projections from 2024 to 2030.
• Identifies current and future market trends and investment opportunities
• Highlights key drivers, restraints, and future opportunities impacting market dynamics
• Offers deep-dive analysis across major regions, applications, and end-user industries

About Next Move Strategy Consulting:

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses

Summary

The global SiC-On-Insulator and Other Substrates Market is on a robust growth trajectory, driven by increasing demand for high-performance semiconductor devices in defense, automotive, healthcare, and electronics. With growing military expenditures, a booming electric vehicle industry, and advancements in healthcare technology, the demand for SiC substrates is rising due to their superior thermal and electrical performance.

While high production costs remain a barrier, ongoing technological innovations like smartSiC integration are expected to unlock new growth opportunities. North America continues to lead the market, while Asia-Pacific emerges as a strong contender due to rapid industrialization, EV adoption, and robotics growth.

The market is poised to reach USD 162.8 million by 2030, offering ample opportunities for stakeholders, investors, and technology innovators in the semiconductor industry.