Silicon Carbide (SiC) Market Description
Silicon carbide (SiC), also familiar as carborundum, is a hard chemical compound consisting of sodium and carbon. It works as a semiconductor and is rarely found in nature as mineral moissanite. However, in the old days this has been mass produced as powder and crystal and used as an abrasive. Silicon carbide is used as a mulish raw material due to its ability of high heat resistance. Such products are widely used in linings of kilns, furnaces, and reactors in various metal industries such as iron, steel, aluminium, and other metals. The growth in production of above mentioned ferrous and non-ferrous metal industries is expected fuel the market growth.
Silicon Carbide (SiC) Market Overview
The Global Silicon Carbide (SiC) market is expected to observe an extensive expansion with a CAGR of 16.80% during the forecasted period of 2021 to 2030. According to market specialists, the Global Silicon Carbide (SiC) market is expected to witness a significant growth by 2030. The Global Silicon Carbide (SiC) market is poised to expand to USD 3441.12 billion by the end of assessment year which was earlier treasured at USD 993.50 billion in 2021.
Silicon carbide is a de-oxidizing agent used in steel industry as a raw material in refractors production. The silicon carbide is used for lining work because of its ability to resist erosion and dimensional stability. The silicon carbide is mostly used in electronic appliances such as LED’s (Light emitting diodes) and detectors.
For More Insights, Download a Free Sample Copy of Silicon Carbide (SiC) Market: https://wemarketresearch.com/sample-request/silicon-carbide-(sic)-market/188/
U.S. the main region with wide utilization of silicon carbide and has a stable market since 2017 to 2019 with larger penetration in domestic semiconductor. The wafer form of the product is widely used device in application. Washington Mills in U.S. is marked to be the highest key player for silicon carbide. However, the global contagion that struck in 2020 resulting into lockdowns that caused the closures of manufacturing units directly impacted new order bookings.
Moreover, the evolvement of SiC in steel production is expected to propel demand for refractors which in turn is anticipated to propel the growth. Furthermore, the utilization of SiC in electric and hybrid electric vehicles (EV / HEV), automobile charging, rail, motor drivers, power supplies, and uninterruptible power supplies (UPS) which is expected to drive the market.
Growing demand for Semiconductors and Electronics is anticipated to drive the market.
Market Segmentation
The Global Silicon Carbide (SiC) market is segmented into Device Type, Wafer Size, Application, Vertical.
Device Type
The market is further segmented on Device Type as
- SIC Discrete Device
SIC Diode
SIC MOSFET
- SIC Bare Die
- SIC Module
Here, the SIC Discrete Device section is anticipated to display highest growth during the forecasted period.
Wafer Size
The market is further segmented on Wafer Size as
- 2 Inch
- 4 Inch
- 6 Inch and above
Due to the growing demand in the application segment of power supplies and inverters, 6 Inch segment is accounted for highest market growth during the forecast timeline.
Application
- Power Grid Devices
- Flexible AC Transmission Systems (FACTs)
- High-Voltage, Direct Current Systems (HVCDs)
- Power Supplies and Inverters
- RF Devices & Cellular Base Stations
- Lighting Control Systems
- Industrial Motor Drives
- Flame Detectors
- EV Motor Drives
- EV Charging Stations
- Electronic Combat Systems
- Wind Turbine
- Solar Power Systems
- Astronomical
- Pyrometer
- Nuclear, and
- Atomic Sciences
Vertical
- Energy & Power
- Automotive
- Renewable Power Generation
- Defence
- Power Electronics
- Telecommunication
The Power Electronics segment is expected to display noteworthy rise during the forecast period, due to rising adoption of power modules in advanced semi-conductor devices.
Geographical Analysis
On the basis of regions, the market covers major five countries such as North America, Europe, Asia-pacific, Middle East and Africa and South America. Among these, Asia Pacific market is marked as dominant region with India, China, Japan, South Korea are major markets for Electric or Heavy Vehicles.
Market Key players
Key players are considered to be the pillars of market. The key players comprise of investors and intermediaries. The global silicon carbide (SiC) market is highly competitive and has witnessed growing competition between vendors. The primary market players focus on the development of Global Silicon Carbide (SiC) market, while a few other recognized vendors are approaching integration with value-added products for electronic industry.
Some of the leading market player includes AGSCO Corp., Carborundum Universal Ltd., Washington Mills, Coorstek, Entegris, Inc., ESD-SIC b.v.,Snam Abrasives Pvt. Ltd. Gaddis Engineered Materials, Grindwell Norton Ltd., SK Siltron Co., Ltd.
For More Details, Visit Our Silicon Carbide (SiC) Market Report Page
About We Market Research:
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Contact Us:
We Market Research
Phone: +1(650)-666-4592
Email: [email protected]
Web: https://wemarketresearch.com/
