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Silicon Carbide (SiC) Market Share, Forecast 2027 | Industry Report

Silicon Carbide Market Analysis Report By Product, By Application, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17612910  |  Published: January 2021  |  No of Pages: 94
Format: Electronic (PDF)  |  Industry: Chemicals & Materials  |  Publisher: Grand View Research

Synopsis

According to the report, the global silicon carbide market was prized by USD 2.52 billion in 2019 and is estimated to record almost 16.1% CAGR, from 2020 to 2027.

Drivers

The rising steel industry is expected to push the development since silicon carbide (SiC) is utilized as a deoxidizing mediator in the steel manufacturing. It is a most important raw material in the manufacturing of refractory.

The refractory manufactured from silicon carbide, show greater thermal conductivity, which is ten times upper than the refractory made up of fireclay. Rising production of steel is expected to boost the demand for refractory. Sequentially, this is estimated to increase the enlargement of the market in the near prospect.

In addition to the increasing demand for silicon carbide from the steel manufacturing companies, the silicon carbide market is furthermore provoked by the electronics manufacturing, where it is utilized for the production of semiconductors.

The increasing global employment of renewable energy resources for the generation of power is estimated to fuel the demand for the semiconductors, made up of silicon carbide, since they demonstrate excellent sturdiness and fantastic speed, above the silicon.

us-silicon-carbide-market

Restraints

Even though, silicon is getting substituted by silicon carbide (SiC) in the semiconductor sector, the merchandise is dealing with the challenge from new materials like gallium nitride, in power unit, in the role of gallium nitride transistors. As compared with silicon carbide, these are price efficient transistors and are able to function on reduced voltages. Hence, it may perform as a key limitation for the progress of the market.

Effect of Covid-19

The mining industry is the most important and holds major share of the global economy. The necessary important raw materials are supplied by the mining industry. The normal working of mining industry, in China, is expected to resume very soon. The key mining companies are not facing any major influence of Covid-19 pandemic, on their operation.

Product Viewpoint

As a result of growing utilization of steel, along with increasing construction and automobile manufacturing, black silicon carbide held 55.3% share of the market in 2019. Green silicon carbide is harder as well as costlier than its equivalent. It is the purest variety of it. It is substituting silicon chips in semiconductors because it offers superior form factor and effectiveness.

Application Viewpoint

As a result of increasing entrance of electric vehicles where silicon carbide is utilized for the production of power electronics devices, which function at high temperatures, the automobile manufacturing sector held 17.9% share in 2019.

Due to the increasing demand for the power modules in semiconductors, electrical & electronics is a single of the speedily developing sector. The silicon carbide semiconductors show greater thermal conductivity, a better critical electric field, and a wider band gap. The growing manufacture of semiconductors is expected to power the expansion of the silicon carbide market in the near future.

global-silicon-carbide-market

Aerospace sector is estimated to increase by 17.6% CAGR during the period of the forecast, due to the growing commuter travel as well as the demand for the aircraft. In defense & military sector, properties like outstanding mechanical power and excessive hardness create it appropriate in the manufacturing of the body of military aircraft along with vehicle protective covering.

In 2019, Asia Pacific retained 59.4% share of the market due to the increasing manufacturing division in the nations such as China and India.

Companies

The companies are implementing a variety of initiatives like joint projects and mergers & acquisitions to increase their range of the products along with to gain larger share of the market.

Some of the companies for silicon carbide market are: Saint Gobain Ceramic Materials GmbH, ESK-SIC GmbH, Entegris, Inc., Carborundum Universal Limited, Grind well Norton Ltd, ESD-SIC b.v., Dow Chemical Co., AGSCO Corporation.

Report Scope

Report Attribute

Details

Market size value in 2020

USD 2.9 billion

Revenue forecast in 2027

USD 7.1 billion

Growth Rate

CAGR of 16.1% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in kilotons, revenue in USD million, and CAGR from 2020 to 2027

Report coverage

Volume forecast, revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; China; India; Brazil

Key companies profiled

AGSCO Corporation; Carborundum Universal Limited; Dow Chemical Co.; Entegris, Inc.; ESD-SIC b.v.; ESK-SIC GmbH; Grindwell Norton Ltd; Saint Gobain Ceramic Materials GmbH

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. 


Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global silicon carbide market report on the basis of product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Black Silicon Carbide
    • Green Silicon Carbide

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • Steel
    • Automotive
    • Aerospace
    • Military & Defense
    • Electrical & Electronics
    • Healthcare
    • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
    • Europe
        • Germany
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa

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