It indicates demand hitting up against supply issues in 2023, and spiraling upward from there through the end of the decade. Fig. 5: Silicon carbide wafer demand across all applications. By the end of the decade, demand for SiC wafers will vastly exceed supply. Source: Canaccord Genuity This helps explain why SiC industry leader Wolfspeed has just opened the world's largest SiC fab in upstate New York, and is expanding its North Carolina materials factory.