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Silicon Carbide Market Size Worth USD 6.23 Billion by 2025 | CAGR: 17.2%

The Silicon Carbide market is expected to grow at CAGR of 17.2% to reach USD 6.23 billion by 2025.

Silicon carbide (also termed as carborundum) is naturally occurring rare mineral moissanite. This unique compound is a mixture of silicon and carbon and is amongst the hardest available materials on earth. It is widely used the material for structural ceramics owing to its characteristics such as high force-to-weight radius, low thermal expansion, high thermal conductivity, resistance to abrasion and corrosion among others. The worldwide silicon carbide market is majorly driven by the surge in motor drives demand and rising in product utility in the radio frequency devices and cellular base station. In addition, its ability to decrease the size of semiconductors coupled with power system loss by 50% support the product demand. However, the high price (the cost of SiC material ranges from $700 to $3,000 per ton) may hinder the industry growth to some extent.

KEY TAKEAWAY

Black silicon carbide is the biggest market segment, capture over 55% of revenue share throughout the study period. This is man-made mineral with high thermal conductivity (rating of 100 W/m-K) and purity (from 97-99% pure).
Demand for silicon carbide is high in turbines and other heavy-duty applications. Silicon carbide fusion is carried along with magnesium particles and nanoparticles testing to produce stronger plastic alloys suitable for usage in the automobile, aeronautics, microelectronic and aerospace industries.
Automobile segment accounted for significant revenue share. The recent technology in automobiles increasingly using silicon carbide material for the production of disc brakes with ABS technology attached to it.
The product is sublimated to undergo and thus can withstand very high temperatures and work under high forces and sudden pressure levels. The final product is being adopted and purchased by big players in the automobile sectors like Lamborghini, Ferrari, Bentley, Chevrolet, and McLaren.
The material silicon carbide is also used as additives in automobile engine oils to reduce emissions, friction, and harmonics.
Asia Pacific region captured a lion’s share of the worldwide industry. Strong growth of the electronics industry in the region is likely to drive the market growth.
The market players are majorly concentrated in China. Key manufacturers include Ningxia Orient Tantalum Industry, Henan Yicheng New Energy, Lanzhou Heqiao Resources Company, Weifang Liuhe Sic Micro Powder, INSACO, Incorporation, Washington Mills Electro Minerals, Saint Gobain, Navarro SiC, and Carborundum Universal Limited.

Reasons to Buy This Report –

The proposed study on Global Silicon Carbide Market offers hawk-eye view on a market trends and demand
It provides comprehensive information on market revenue, growth, volume, industry hopes, trends, and competitive backgrounds
Thus, the study will provide strategic vision and must-have information for industry players to improve and sustain their market position.
The industry report also provides market positioning of key players operating in this market

The scope of this report covers the market by its major segments, which include as follows:

SILICON CARBIDE MARKET, BY PRODUCT