The global demand for Silicon Carbide Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2021 - 2027. Whereas with regards to volume, the market was calculated XX KT in 2020 and foreseen to touch XX KT by 2028 with a CAGR of XX% during 2021-2027.
Silicon carbide, with the chemical symbol SiC, is a solid industrial mineral crystalline. Silicon carbide is also known as carborundum and is a compound of silica and carbon. SIC is one of the rigid material with outstanding performance, power switching frequency, and power rating compared to silicon. Furthermore, it has the potential to deliver high power switching applications in an extreme environment. Silicon carbide is a comprehensive gap semiconductor material used in semiconductor electronics devices that operate at high temperatures or high voltage. This property has made silicon carbide to highly preferable in end-use applications.
Many factors, such as the surge in demand for motor drives, compact system size, and the increase in utility of silicon carbide in the cellular base station and radiofrequency devices, are some factors, which are boosting the growth of the silicon carbide market during the forecast period. Silicon carbide reduces the power system loss by 50%, owing to which the adoption of compact size semiconductors is increasing in various applications such as Industrial Motor Drive, Power Supply and Inverter, Lighting Control, and others. On the other hand, the price of silicon carbide ranges from $800 to $2,000 per ton, which is very high compared to other available alternatives. Therefore, the high cost of Silicon carbide is the primary factor restraining the growth of the market. Also, defects in material and issues related to the package are the other challenge faced by vendors associated with the silicon carbide market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of silicon carbide.
The report segments the silicon carbide market and analyses it with respect to the geography, intending to keep the marketer informed and help them identify the target demographics for the product or service.
- Black silicon carbide
- Green silicon carbide
- Military & defense
- Electrical & electronics
This section covers regional segmentation which accentuates on current and future demand for silicon carbide market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Silicon Carbide Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the silicon carbide market include AGSCO Corporation, Carborundum Universal Limited., Dow Chemical Co., Entegris, Inc., ESD-SiC b.v., ESK-SIC GmbH, Gaddis Engineered Materials, Grindwell Norton Ltd., Saint Gobain Ceramic Materials GmbH, SNAM Abrasives Pvt. Ltd.S. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.