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Silicon Carbide Market Demand And Supply Overview | Industry Insights By Application, Major Companies, End-Use, Strategies, Covid-19 Impacts | CAGR 16.1% | Grand View Research, Inc.

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Silicon Carbide Market Demand And Supply Overview | Industry Insights By Application, Major Companies, End-Use, Strategies, Covid-19 Impacts | CAGR 16.1% | Grand View Research, Inc.

November 26
02:20 2021
Silicon Carbide Market Demand And Supply Overview | Industry Insights By Application, Major Companies, End-Use, Strategies, Covid-19 Impacts | CAGR 16.1% | Grand View Research, Inc.
“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, rising demand from semiconductors is likely to remain a key driving factor as the product improves efficiency, reduces form factor, and operates at high temperatures.

The global silicon carbide marketsize is projected to touch USD 7.18 billion by 2027, exhibiting a revenue-based CAGR of 16.1% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand from semiconductors is likely to remain a key driving factor as the product improves efficiency, reduces form factor, and operates at high temperatures.

The aforementioned properties of Silicon carbide (SiC) semiconductors along with its advantages over silicon make it suitable in applications such as automotive and aerospace and defense industries. High-temperature resistant materials are widely used in these industries, thus, there is increasing adoption of SiC semiconductors in power electronics, which in turn is likely to drive the SiC market growth over the forecast period.

The strategic initiatives adopted by the key players in the semiconductor industry are expected to play a key role in the growth of the SiC semiconductors industry. For instance, in January 2019, Cree, Inc., signed a multiyear supply agreement of silicon carbide wafers to STMicroelectronics. These rapid developments are expected to positively influence the growth of the silicon carbide market over the forecast period.

In the Asia Pacific, the rising population along with adopting urbanization is expected to propel the development of smart cities and smart houses, which in turn is anticipated to boost the demand for silicon carbide power modules in electric vehicles. China is one of the largest automobile producers in the world, accounting for 29.1% in 2018. Increasing the production of automobiles is anticipated to fuel the product demand over the coming years.

Key market players Carborundum Universal Limited; Entegris, Inc.; AGSCO Corporation; Dow Chemical Co.; ESD-SIC b.v.; Saint Gobain Ceramic Materials GmbH; ESK-SIC GmbH; and Grindwell Norton Ltd. Most of the market players are focused on capacity expansions and mergers and acquisitions to meet the growing demand for silicon carbide. For instance, In November 2018, Entegris announced the expansion of the manufacturing capacity of its facility located in Kulim, Malaysia by 30%. In the expansion project, new tooling, molding machines, and numerous updates to the assembly area were installed to support the increasing silicon carbide wafer and reticle handling demand. 

 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/silicon-carbide-market

 

Silicon Carbide Market Report Highlights

 The green silicon carbide segment is anticipated to progress at a CAGR of 10.1%, in terms of volume, over the forecast period owing to the increasing production of semiconductors that are further used in various electrical and electronics applications, such as transistors, solar cells, and LEDs

The steel segment accounted for a revenue share of 21.1% in 2019 owing to the increasing demand for steel from various end-use, industries, such as automotive, construction, and oil and gas. Silicon carbide is used as a deoxidizing agent, abrasive, and refractory in the steel industry

Electrical and electronics is among the fast-growing segments with a CAGR of 10.8% in terms of volume from 2020 to 2027. The growth is attributed to the increasing demand for semiconductors owing to the increasing utilization of renewable sources of energy across the globe

Asia Pacific is projected to witness a CAGR of 17.9% in terms of revenue over the forecast period, owing to the growth of the manufacturing sector in countries including China, India, Japan, and South Korea

North America is expected to witness a CAGR of 7.6% in terms of volume over the forecast period owing to the increasing product utilization in electronics, aerospace, and defense industries

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; Grindwell Norton Ltd; and Saint Gobain Ceramic Materials GmbH.

 

For Requesting a Sample Copy Please Visit @ https://www.grandviewresearch.com/industry-analysis/silicon-carbide-market/request/rs15

 

Silicon Carbide Market Segmentation

Grand View Research has segmented the global silicon carbide market on the basis of product, application, and region:

Silicon Carbide Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)    

• Black Silicon Carbide     

• Green Silicon Carbide

Silicon Carbide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)    

• Steel     

• Automotive     

• Aerospace     

• Military & Defense     

• Electrical & Electronics     

• Healthcare     

• Others

Silicon Carbide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)     

North America        

  • The U.S.     

• Europe         

  • Germany     

• Asia Pacific         

  • China         

  • India     

• Central and South America         

  • Brazil     

• Middle East & Africa

List of Key Players of Silicon Carbide Market     

AGSCO Corporation     

Carborundum Universal Limited.     

Dow Chemical Co.     

Entegris, Inc.     

ESD-SIC b.v.     

ESK-SIC GmbH     

Grindwell Norton Ltd.

 

Fill the Pre-Order Enquiry Form for the Report @ https://www.grandviewresearch.com/inquiry/416/ibb

 

Browse Related Reports:

Ultra High Purity Silicon Carbide MarketSize, Share & Trends Analysis Report By Application (Semiconductor, LEDs), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2020 – 2027.

 

About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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