The
global Silicon
Carbide Market size is expected to reach USD 7.98 billion by 2030,
registering a CAGR of 11.7% according to a new report by Grand View Research,
Inc. The rising prominence of silicon carbide in the production of
Single-crystal SiC wafers is projected to aid the market growth over the
forecast period. In the last few years, the consumption of single-crystal SiC
wafers increased significantly, especially to manufacture electronic chips in
the semiconductor industry. The increasing need to produce compact and right
design electronic devices is projected to further push the product demand in
the semiconductors industry. These single-crystal wafers offer limited power
loss in the form of heat owing to the reduced leakage currents and
wide-bandgap. Moreover, the SiC-based wafers are equipped to handle 10 times
more voltage than their counterpart materials.
The
rising usage of SiC-based chips in the electronic section of Electric
Vehicles (EVs) is anticipated to positively influence the dynamics of the
industry over the forecast period. The prominent EV manufacturers, including
Tesla, use SiC-based chips in their vehicles. As per the recent news, Tesla is
establishing its new EV manufacturing in India. Such new investments are likely
to provide opportunities for the growth of the market of SiC and its associated
products over the predicted timeline. The organic and inorganic growth
strategies adopted by key players in the semiconductor industry are also likely
to support the growth of the market. For instance, in January 2019, Cree, Inc.,
signed a long-term agreement to supply SiC wafers to STMicroelectronics. The
adoption of SiC power devices in electronics, renewable energy systems, and
automotive has increased tremendously over the last few years and is
anticipated to gain additional thrust over the coming years.
Related Press
Release@ Silicon
Carbide Market Report
List of Key Players in the Silicon Carbide Market
- AGSCO
Corporation
- Carborundum
Universal Limited
- Washington
Mills
- Coorstek
- Entegris,
Inc.
- ESD-SIC b.v.
- Snam
Abrasives Pvt. Ltd.
- Gaddis
Engineered Materials
- Grindwell
Norton Ltd.
- SK siltron
Co.,Ltd.
Silicon Carbide Market Report Highlights
- The black
SiC product segment is projected to dominate the overall market, in terms
of volume as well as revenue, by 2030
- The
healthcare segment is anticipated to register the fastest CAGR over the forecast
period. The segment is projected to observe a significant CAGR, in terms
of revenue, from 2023 to 2030
- Post-pandemic
era is likely to observe higher spending on healthcare infrastructure
across the globe, thereby supporting the segment growth
- Steel is
projected to remain a key consuming application segment in the industry.
The development, in terms of overall crude steel production, in 2022 is
likely to aid the segment growth in the near future
- Asia Pacific
is expected to remain a dominant regional market over the forecast period
owing to the presence of major steel-manufacturing countries in the region
Silicon Carbide
Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 3.68 billion |
|
Revenue forecast in 2030 |
USD 7.98 billion |
|
Growth Rate |
CAGR of 11.7% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
Silicon Carbide Market Segmentation
Grand
View Research has segmented the silicon carbide market on the basis of product,
application, and region:
Silicon Carbide Product Outlook (Volume, Kilotons;
Revenue, USD Million, 2018 - 2030)
- Black
Silicon Carbide
- Green
Silicon Carbide
Silicon Carbide Application Outlook (Volume, Kilotons;
Revenue, USD Million, 2018 - 2030)
- Steel
- Automotive
- Aerospace
- Military
& Defense
- Electrical
& Electronics
- Healthcare
- Others
Silicon Carbide Regional Outlook (Volume, Kilotons;
Revenue, USD Million, 2018 - 2030)
- North
America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- India
- Central
& South America
- Brazil
- Middle East
& Africa (MEA)
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals, materials,
healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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