The global silicon carbide (SiC) wafer market is witnessing substantial growth, fueled by the increasing adoption of SiC-based power electronics in electric vehicles (EVs), renewable energy, and industrial applications. SiC wafers offer superior thermal conductivity, high breakdown voltage, and enhanced efficiency, making them a preferred choice over traditional silicon wafers in high-power and high-frequency applications. According to DataIntelo, the global silicon carbide wafer market is projected to reach USD 5.2 billion by 2032, growing at a CAGR of 15.7% from 2024 to 2032. The rapid expansion of the EV industry and advancements in 5G technology are further accelerating the demand for SiC wafers across multiple sectors.