The global SiC market is transitioning from capacity expansion to technical upgrades. Driven by the adoption of high-voltage EV platforms, the industry focus is shifting from innovation to cost and scale competition. 8-inch manufacturing is now the supply chain benchmark. While Chinese firms accelerate domestic substitution, they still face hurdles in high-end chip R&D and sustained profitability.

Key Highlights

• SiC is in a declining period, with the industry entering a phase of capacity digestion at 2-3 years amidst the concentrated release of demand, together with short-term fluctuations of demand.
• EVs remain the core driver of demand, but the industry is shifting from “technology‑driven” to “cost‑driven,” with mid-to-low end models becoming the key variable for penetration.
• Capability of mass production on 8” has become the main competitive focus as it determines whether a supplier can enter the supply chains of mainstream automakers.
• Profit is being redistributed along the value chain, where upstream material prices are under pressure, while device and IDM manufacturers show stronger earnings resilience.
• Chinese suppliers are accelerating import substitution, but are still in the ramp‑up phase; their market share is clearly rising, yet profitability and high‑end technologies still need to be further improved.

Table of Contents

1. Overview
2. SiC Substrates & Epitaxy
3. SiC Power Devices
4. SiC Applications
5. Analysis of Major SiC Players
6. Focus on Chinese SiC Market
7. TrendForce’s View

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