Silicon Carbide Market, Growth, Scope, Trends and Forecast 2030

 

Silicon Carbide Market Overview

Silicon Carbide Market is projected to be worth USD 11 Billion by 2030, registering a CAGR of 22% during the forecast period (2020 - 2030).

Market Research Future (MRFR) report on the global silicon carbide market studies the COVID-19 analysis on the key points that influence the growth of the market. The report discusses current competitors and global market trends, providing a thorough overview of both growth drivers and constraints, which may have a positive or negative effect on the industry's outlook during the forecast period.

Silicon carbide (SIC) is also identified as carbrundum and is a silica and carbon compound. SIC is one of the hard materials with outstanding performance, power switching frequency, and power rating compared to silicon. In addition, it has the potential to deliver high power switching applications in an extreme environment. Silicon carbide is an extensive gap semiconductor material used in semiconductor electronic devices that work at high temperatures or high voltage. This property has made silicon carbide highly preferable for end-use applications.

Market Dynamics

Over the last seven years, the global demand for silicon carbide market has seen steady growth and is heading into an expansion phase. Growth in this market is due to strong demand from the steel manufacturing and steel processing industries and its recycling units. The steel industries in the Asia Pacific is expected to contribute significantly in the coming years. The growing automotive industry around the globe also plays a crucial role in global growth. As per the OICA, China has emerged as a worldwide leader in automotive production with an annual growth rate of over 8%, which is expected to result in a significant rise in the demand in the coming years. In the last few years, the replacement of established pure silicon technology has risen year by year, increasing global demand for silicon carbide. Although growth in this market is held back by high costs associated with silicon carbide devices. Due to low production yields and low production volumes, silicon carbide products are priced at comparatively higher costs, which has posed as growth restraints.

Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/silicon-carbide-market-1231

Market Segmentation

The global market for silicon carbide has been segmented based on product and application.

Based on products, the global market for silicon carbide has been segmented into green silicon carbide, black silicon carbide, and others (refractory, coated, metallurgical, metallurgical briquettes, and micro grit).

Based on application, the global market for silicon carbide has been segmented into steel and energy, aerospace and aviation, automotive, military and defense, electronics and semiconductors, medical and healthcare, and others. Steel and energy are the dominant segments for which silicon carbide is widely used, followed by electronics and semiconductors and the automotive segment. Medical and healthcare services are expected to see the fastest growth in the next five years.

Get Sample report at: https://www.marketresearchfuture.com/sample_request/1231

Regional Analysis

Region-wise, the global silicon carbide market has been segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

In 2016, Asia Pacific emerged as one of the most promising markets in the world and had the highest market share in terms of both value and volume. After gaining more than half of the global economy, Asia Pacific is projected to continue leading over the forecast period. Increased sales of the various driver segments, such as steel and energy, electronics, semiconductor and automotive, are responsible for the region's growth. India and China are jointly driving the Asia Pacific market because of the increasing demand for steel and energy powered by industrial and infrastructural growth.

North America is another attractive growth market, dominated by automotive demand. The region is expected to grow substantially due to the massive demand for commercial vehicles. The United States is one of the five largest commercial vehicle manufacturing markets in the world due to the growing demand for silicon carbide.

In the coming years, Europe will continue to expand, including major markets such as Russia, Germany, and the Netherlands. Established aerospace and aviation industries have contributed significantly to regional growth.

 

Key Players

Some of the leading participants in the global silicon carbide market are Carborundum Universal (India), Entegris Inc (US), ESK SIC GmbH, Renesas Electronics Corporation (Japan), Norstel AB (Sweden), ROHM Co Ltd (Japan), Toshiba Corporation (Japan), Grindwell Norton (India), Microsemi Corporation (US), Dow Chemical Company (US), and others.

Read more reports at: https://www.marketresearchfuture.com/categories/chemicals-market-report

Read more details at: https://www.marketresearchfuture.com/infographics

Read more details at: https://www.marketresearchfuture.com/videos

Comments

Post a Comment

Popular posts from this blog

Silicone Sealants Market, Global Industry Share, Growth, Overview and Analysis 2025

Image
Silicone Sealants   Market Overview Silicone sealants are the viscous materials which are widely used as a silicone sealant. The silicone sealants are highly stable, inert, resistant to the extreme work environments. The silicone sealants differ from the common adhesives in terms of the elasticity, strength and durability. The substantial physical properties exhibited by the silicone sealants includes the high withstand ability for a wider range of temperature (75°F to 500°F) as compared to nearly all other sealants, great elongation, high wear and tear strength, and high flexibility. Silicone Sealants   Market Segmentation The global silicone sealants market has been segmented on the basis of technology, end-use, and region. Based on technology, the global  silicone sealants market  analysis  has been segmented into pressure sensitive, radiation curing, ambient temperature vulcanizing, thermoset and others. Among these, the pressure sensitive segment is...
Read more

Global Oolong Tea Industry: COVID-19 Overview, Application, Growth and Forecast 2024

Oolong Tea Market Overview: Oolong Tea Market is projected to grow at a CAGR over 4.5% during the period 2017- 2023. Increasing sale of oolong tea is driven by rising awareness among the consumers about the health benefits gained from consumption of oolong tea in its chemical-free form. High antioxidant content of oolong tea makes its application more significant in personal care products due to its anti-ageing properties. Increased nutraceutical application of tea has resulted in growth of share in the nutraceuticals industry. Increasing disposable income and economy development has influenced the consumers spending behavior leading to increased expenditure on quality products. All these factors contribute to increased market share of oolong tea globally. The consumption as well as production of oolong tea is found to be high in Asia-Pacific region and is evaluated to increase at a growth rate in various countries of North America and Europe. Oolong Tea Market Key Manufacturers:...
Read more

Ceramic Fiber Market Size, Growth, Analysis, Overview & Trends during Forecast 2030

  Ceramic Fiber Market overview The global ceramic fiber market has been segmented by type, product form, end-use industry, and region. By type, the global ceramic fiber market has been divided into refractory ceramic fiber, alkaline earth silicone, and others. The refractory ceramic fiber type accounted for the largest market share in 2017 owing to its high insulating property. However, this type has been classified as possibly carcinogenic to humans by the Agency for Research on Cancer. Inhalation of the refractory ceramic fiber results in sore throat, nasal congestion, and cough whereas dermal exposure results in contact dermatitis and itching. This has resulted in a declining use of refractory ceramic fiber. The alkaline earth silicone type is expected to register a higher CAGR as it is bio-soluble and is non-hazardous. On the basis of the product form, the market has been segmented into blankets, rope, paper, board, blocks, cloth, module, and others. The module prod...
Read more