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SiC-on-Insulator (SiCOI) Film Market Overview
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The SiC-on-insulator (SiCOI) film market was valued at $31.0 million in 2024 and is projected to grow at a CAGR of 64.13%, reaching $4,391.9 million by 2034. This growth is expected to be driven by the increasing demand for high-performance power electronics, particularly in electric vehicles (EVs), renewable energy systems, and advanced communication devices. As industries seek more efficient, reliable, and durable solutions, the adoption of SiCOI films in power devices, RF devices, MEMS, and photonic applications is expected to rise. Additionally, the need for reducing energy losses, improving device efficiency, and enabling faster, more efficient switching capabilities is driving the market's expansion. With advancements in SiC materials and an ongoing shift toward electrification and clean energy, the SiC-on-insulator (SiCOI) film market is expected to witness significant growth in the next decade.
Introduction to the SiC-on-Insulator (SiCOI) Film Market
The SiC-on-insulator (SiCOI) film market is driven by the increasing demand for high-performance, energy-efficient semiconductors across various industries, including automotive, renewable energy, telecommunications, and consumer electronics. SiCOI films, with their superior properties such as high voltage resistance, thermal stability, and efficient energy management, are increasingly being adopted in power devices, RF devices, MEMS, and photonic applications. As industries move toward more sustainable and efficient solutions, the demand for SiCOI films is expanding, particularly with the rise of electric vehicles (EVs) and the growing need for clean energy systems. SiCOI technology helps reduce energy loss, enhances device performance, and supports high-frequency and high-power applications, making it essential for next-generation semiconductors.
Market Introduction
The SiC-on-insulator (SiCOI) film market is rapidly growing due to the increasing demand for high-performance semiconductors across various industries, including automotive, telecommunications, and renewable energy. SiCOI films, which combine silicon carbide (SiC) with insulating layers, offer exceptional properties such as high voltage tolerance, enhanced thermal stability, and low energy losses. These advantages make them ideal for applications in power electronics, RF devices, MEMS, and photonic devices. As industries shift towards more energy-efficient, sustainable, and high-performance technologies, the demand for SiCOI films is expected to rise significantly. The market is being driven by advancements in material science and a growing focus on reducing environmental impact, making SiCOI films a critical component in next-generation electronic devices.
Industrial Impact
The SiC-on-insulator (SiCOI) film market is having a significant industrial impact by enabling the development of advanced, high-performance electronic devices used in critical sectors such as automotive, telecommunications, energy, and aerospace. SiCOI films' unique properties, including enhanced power efficiency, high thermal conductivity, and the ability to operate at elevated voltages, make them essential for power electronics, RF devices, and photonic systems. These advancements help industries improve energy efficiency, reduce operational costs, and support the transition to more sustainable and environment-friendly technologies. As industries increasingly rely on SiCOI films for their superior performance, the market is set to drive innovation in electric vehicles, renewable energy systems, and next-generation communication technologies, fostering broader industrial growth.
The companies involved in the SiC-on-insulator (SiCOI) film market include major industry players such as SICOXS CORPORATION, MTI Corporation, NGK INSULATORS, LTD., Wolfspeed, Inc., SICC Co., Ltd., Ceramicforum Co., Ltd., GlobalWafers, Homray Material Technology, Precision Micro-Optics Inc., SOITEC, Synlight Semiconductor Co., Ltd., Xiamen Powerway Advanced Material, Coherent Corp., and SK siltron Co., Ltd. These companies are enhancing their capabilities through strategic partnerships, collaborations, and technology advancements to improve the resilience and performance of the SiC-on-insulator (SiCOI) film economy in demanding environments. Their continued investments in research and development are driving the growth of the market while supporting the broader trends in the industry.
Market Segmentation:
Segmentation 1: by Type
• Power Devices
• RF Devices
• Micro Electro Mechanical Systems
• Photonic Devices
• Others
Power Devices to Lead the Market (by Application)
Power devices are expected to dominate the SiC-on-insulator (SiCOI) film market, driven by the increasing demand for high-performance, energy-efficient semiconductors in various industries. As the shift toward electric vehicles (EVs), renewable energy systems, and advanced electronics accelerates, the need for power devices capable of handling high voltages, improving thermal conductivity, and reducing energy losses is growing. SiCOI films, known for their superior material properties, are well-suited for power electronics, including inverters, power supplies, and electric drive systems.
The expanding EV market and the rising adoption of sustainable energy solutions are expected to boost the demand for SiC-based power devices significantly, positioning SiCOI films as a critical component in the evolution of efficient, high-performance electronic systems worldwide.
Segmentation 2: by Substrate Material
• Semi-Insulating SiC Substrates
• Conductive SiC Substrates
• Others
Semi-Insulating SiC Substrates to Lead the Market (by Substrate Material)
Semi-insulating SiC substrates are expected to dominate the SiC-on-insulator (SiCOI) film market due to their unique electrical properties, which make them ideal for high-frequency and high-voltage applications. These substrates are widely used in RF devices, photonic applications, and Micro Electro Mechanical Systems (MEMS), where low electrical conductivity is essential to prevent unwanted current flow.
The growing demand for advanced materials in communication systems, optoelectronics, and power systems is driving the adoption of semi-insulating SiC substrates. Their ability to support high-power devices while maintaining minimal electrical interference makes them a crucial component in the development of next-generation technologies. As industries continue to advance in telecommunications, photonics, and semiconductor markets, semi-insulating SiC substrates are positioned to play a leading role in the evolution of SiC-on-insulator (SiCOI) films.
Segmentation 3: by Region
• North America: U.S., Canada, and Mexico
• Europe: Germany, France, U.K., Italy, and Rest-of-Europe
• Asia-Pacific: China, Japan, India, South Korea, and Rest-of-Asia-Pacific
• Rest-of-the-World: South America, Middle East and Africa
Asia-Pacific is expected to dominate the SiC-on-insulator (SiCOI) film market, driven by its strong semiconductor manufacturing capabilities, rapid technological advancements, and significant investments in electric vehicle (EV) and renewable energy sectors.
Countries such as China, Japan, and South Korea are at the forefront of SiCOI film adoption, with key industry players in the region focusing on the development and integration of high-performance power semiconductors. Asia-Pacific’s emphasis on enhancing energy efficiency, supporting EV adoption, and accelerating green technologies positions the region as a SiC-on-insulator (SiCOI) film market leader, driving growth across automotive, telecommunications, and industrial applications.
Recent Developments in the SiC-on-Insulator (SiCOI) Film Market
• In October 2024, Soitec and Resonac announced a joint development agreement to enhance the supply of high-quality silicon carbide (SiC) wafers. The collaboration aims to improve productivity and strengthen the SiC supply chain by developing 200mm SiC bonded substrates that will serve as the foundation for SiC epitaxial wafers used in power semiconductors.
• In June 2024, STMicroelectronics and Geely Auto Group signed a long-term agreement for the supply of silicon carbide (SiC) power devices for Geely's mid- to high-end electric vehicles. This collaboration aims to enhance vehicle performance, speed up charging, and extend range by integrating third-generation SiC MOSFETs in Geely's electric drive inverters. These devices will upgrade the voltage platform of Geely's new energy vehicles (NEVs) from 400V to 800V, resulting in improved energy efficiency.
• In October 2022, Jaguar Land Rover partnered with Wolfspeed to supply silicon carbide (SiC) semiconductors for its next-generation electric vehicles (EVs), including models such as the Range Rover, Discovery, Defender, and Jaguar vehicles. Wolfspeed’s SiC technology was integrated into the inverters of these vehicles, improving powertrain efficiency and extending driving range.
• In May 2022, Siemens Mobility and Mitsubishi Electric Europe B.V. signed a memorandum of understanding (MoU) to promote the use of high-voltage silicon carbide (SiC) technology, aiming to enhance the energy efficiency of railway drive systems.
Demand - Drivers, Limitations, and Opportunities
Market Drivers: Growing Electrification in Automotive Industry
The growing electrification in the automotive industry has been a significant driver in the SiC-on-insulator (SiCOI) film market, as the shift toward electric vehicles (EVs) increases the demand for advanced semiconductor solutions. The automotive sector is rapidly adopting electric drivetrains, battery management systems, and high-performance inverters to meet the rising demand for sustainable transportation. SiCOI films are becoming integral in these systems due to their ability to handle high-voltage switching, enhance thermal efficiency, and provide electrical isolation for critical power components.
In the automotive industry, major players are increasingly adopting SiC-based power devices to improve efficiency, reduce energy losses, and achieve higher performance in electric vehicles. Companies such as Tesla, Volkswagen, and General Motors are using SiC MOSFETs and other SiCOI-based components in their EV powertrains. For instance, in July 2024, onsemi announced a multi-year agreement with Volkswagen Group to become the primary supplier of a complete power box solution for the next-generation traction inverter in its Scalable Systems Platform (SSP). The solution, which incorporates silicon carbide-based technologies, is designed as an integrated module that can be scaled across various power levels, making it compatible with all vehicle categories, from high-power to low-power traction inverters.
Looking ahead, the demand for SiCOI films in the automotive industry is expected to continue growing as the electrification of transportation accelerates. As more automakers commit to fully electric lineups and zero-emission goals, the reliance on high-performance semiconductors will increase, particularly in powertrain electronics and battery management systems. Innovations in SiCOI technology will play a crucial role in supporting the development of next-generation electric vehicles that offer higher power density, faster charging capabilities, and longer battery life.
Market Challenges: High Cost Associated with the Fabrication Process
The high cost associated with the fabrication process remains a significant restraint in the SiC-on-insulator (SiCOI) film market. The production of SiCOI films involves complex manufacturing steps, including wafer growth, epitaxial deposition, and advanced lithography techniques, all of which require specialized equipment and materials. These processes are more expensive compared to traditional silicon-based technologies, leading to higher production costs. As a result, companies that use SiCOI films in their products face challenges in keeping their prices competitive, which can limit their adoption in cost-sensitive industries.
In addition, joint ventures between semiconductor players and research institutions are advancing the development of wafer growth techniques and deposition methods, which could improve material quality while reducing costs. For instance, partnerships between academic institutions and companies such as STMicroelectronics are focused on developing innovative ways to enhance SiC crystal growth and film deposition, which could significantly lower production expenses. Collaborative efforts in this area are aimed at bringing down the cost of SiCOI films and ensuring that the technologies meet the growing demand for high-performance components.
Looking ahead, the SiC-on-insulator (SiCOI) film market is expected to benefit from ongoing advancements in manufacturing efficiency and cost-reduction strategies. As demand for SiCOI-based solutions grows, there will be increased investments in improving fabrication processes and scaling production.
Market Opportunities: Development of Quantum Computing
The development of quantum computing represents a significant opportunity for the SiC-on-insulator (SiCOI) film market, as this emerging field demands high-performance semiconductors that can handle complex, high-speed computations. As quantum computing systems evolve, the need for reliable, efficient materials that can support both electronic and photonic functions becomes increasingly important. SiCOI films, with their unique ability to provide electrical isolation and thermal management, make them ideal for use in quantum computing components such as quantum sensors, qubits, and photonic integrated circuits (PICs). As quantum computing moves closer to commercial viability, SiCOI films will be crucial in enabling the performance and scalability of these advanced systems.
Moreover, the SiC-on-insulator (SiCOI) film market is expected to experience significant growth as the quantum computing sector continues to mature. As quantum computers become more powerful and scalable, the demand for advanced semiconductor materials will rise, making SiCOI films an integral part of the technology's advancement. Future developments in quantum cryptography, quantum simulations, and quantum machine learning will further increase the need for high-performance materials. The integration of SiCOI films in quantum systems is expected to enhance the capabilities and also help in new applications, opening up new markets and opportunities for SiC-on-insulator (SiCOI) film adoption.
Analyst View
According to Debraj Chakraborty, Principal Analyst, BIS Research, “The global SiC-on-insulator (SiCOI) film market is expected to witness significant growth, driven by the increasing demand for high-performance, energy-efficient electronic devices across various industries. As sectors such as automotive, telecommunications, and renewable energy continue to evolve, the need for advanced materials such as SiCOI films is growing due to their superior electrical properties, thermal conductivity, and high voltage resistance. The shift toward electric vehicles, renewable energy systems, and next-generation communication technologies is pushing the demand for SiCOI films in power electronics, RF devices, and photonic applications. Additionally, SiCOI films contribute to the development of more sustainable technologies by improving device efficiency, supporting eco-friendly manufacturing processes, and reducing energy consumption.”
SiC-on-Insulator (SiCOI) Film Market - A Global and Regional Analysis
Focus on Application, Substrate Material, and Region - Analysis and Forecast, 2024-2034
Frequently Asked Questions
The market study conducted by BIS Research defines the SiC-on-insulator (SiCOI) film market as a sector focused on the development and application of advanced semiconductor materials specifically designed to enhance power electronics, RF devices, and photonic systems. Unlike traditional silicon-based technologies, SiCOI films are engineered to improve performance in high-power, high-frequency, and high-temperature applications. This market emphasizes the use of SiCOI films in various industries, including automotive, renewable energy, telecommunications, and aerospace, to enable more efficient power conversion, faster switching speeds, and enhanced reliability of electronic components, ultimately contributing to sustainable technological advancements.
The key business opportunities in the SiC-on-Insulator (SiCOI) film market lie in the growing demand for high-performance, energy-efficient electronic devices across various industries.
The SiC-on-insulator (SiCOI) film market is expected to grow over time, and companies will come up with collaborative strategies to sustain themselves in the intensely competitive market. Companies with an identical product portfolio and a need for additional resources often partner and come together for joint venture programs, which help the companies gain access to one another’s resources and facilitate them to achieve their objectives faster.
A new entrant can focus on partnering with existing SiC-on-insulator (SiCOI) film providers. Also, start-ups can focus on funding, launching new innovative products, and expanding their sales and distribution networks.
The following are some of the USPs of this report:
• A dedicated section focusing on the trends adopted by the key players operating in the SiC-on-insulator (SiCOI) film market
• Competitive landscape of the companies operating in the ecosystem offering a holistic view of the SiC-on-insulator (SiCOI) film market landscape
• Qualitative and quantitative analysis of the SiC-on-insulator (SiCOI) film market at the region and country level and granularity by application and product segments
• Supply chain and value chain analysis
Companies in the SiC-on-insulator (SiCOI) film market, including semiconductor manufacturers, power device producers, RF device companies, MEMS developers, photonic device manufacturers, material suppliers, and technology integrators, should buy this report.