Global Silicon Carbide Market Size Study & Forecast, by Product (Black and Green) by Application (Steel, Automotive, Aerospace & Aviation, Military & Defense, Electronics, and Healthcare) and Regional Forecasts 2025-2035

The Global Silicon Carbide Market is valued approximately at USD 5.23 billion in 2024 and is anticipated to grow at a CAGR of 8.70% over the forecast period 2025-2035. Silicon carbide (SiC), often known as carborundum, is a compound of silicon and carbon that has established itself as a cornerstone material in high-performance applications across multiple industries. Its exceptional mechanical strength, superior thermal conductivity, and remarkable resistance to wear, corrosion, and high temperatures make it indispensable in next-generation technologies. From power electronics to aerospace engines and medical devices, silicon carbide's ability to maintain performance under extreme conditions has positioned it as a pivotal enabler of energy efficiency and durability. The market growth is propelled by the rapid electrification of the automotive sector, surging demand for high-voltage components, and the increasing focus on sustainable material innovation across advanced manufacturing industries.

The escalating transition toward electric vehicles (EVs) and renewable power systems has significantly bolstered the demand for silicon carbide components. SiC-based semiconductors are revolutionizing the electronics industry due to their ability to minimize energy loss, handle higher voltages, and operate efficiently at elevated temperatures. According to the International Energy Agency (IEA), global electric car stock exceeded 40 million in 2024, highlighting a substantial opportunity for SiC-based inverters and power modules. Moreover, silicon carbide's utilization in steel manufacturing, refractory materials, and defense-grade composites underscores its multi-sectoral importance. Technological advancements in wafer processing, as well as the commercialization of SiC substrates, are expected to further amplify market expansion. However, the high cost of production, limited raw material availability, and challenges in large-scale fabrication remain critical hurdles that could temporarily restrain market growth throughout the forecast period.

The detailed segments and sub-segments included in the report are:

By Product:

• Black Silicon Carbide
• Green Silicon Carbide

By Application:

• Steel
• Automotive
• Aerospace & Aviation
• Military & Defense
• Electronics
• Healthcare

By Region:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa
• Among the applications, the Electronics segment is expected to dominate the market during the forecast period. Silicon carbide has become an essential material in electronic and semiconductor manufacturing, offering unparalleled performance for high-frequency, high-voltage applications. Its integration into power devices such as MOSFETs, diodes, and rectifiers allows systems to operate at greater efficiency with reduced energy dissipation. The ongoing proliferation of 5G infrastructure, renewable energy grids, and smart industrial systems has further strengthened demand for SiC-based electronics. Additionally, silicon carbide's superior heat resistance and reliability make it the material of choice for advanced computing and telecommunication components, ensuring consistent performance in compact, high-power architectures. As a result, electronics are projected to remain the dominant and most technologically dynamic segment of the market.
• From the product perspective, Black Silicon Carbide currently leads in market revenue, primarily due to its extensive use in metallurgical and industrial applications such as steel production, grinding, and refractory materials. Its cost-effectiveness, combined with its high hardness and thermal shock resistance, makes it ideal for heavy-duty abrasive and foundry processes. However, Green Silicon Carbide is emerging as the fastest-growing product category, driven by its superior purity and performance in electronic and aerospace-grade components. As manufacturers pursue advanced ceramics, semiconductor devices, and medical implants that demand higher precision, green SiC is poised to gain significant traction. This dual trajectory underscores a distinctive market dynamic-while black SiC dominates in volume-driven industries, green SiC is charting rapid growth in innovation-intensive sectors.
• The key regions considered for the Global Silicon Carbide Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific currently holds the largest market share and is anticipated to continue its dominance throughout the forecast period. The region's leadership stems from the rapid industrialization of China, Japan, South Korea, and India, which are witnessing increased demand for advanced materials in steel, automotive, and semiconductor manufacturing. North America follows closely, bolstered by its strong base of EV production, aerospace innovation, and defense modernization programs. The presence of leading semiconductor companies and rising investments in energy-efficient technologies further enhance regional prospects. Meanwhile, Europe is evolving as a significant growth hub, driven by its ambitious carbon-neutral targets and the rising integration of SiC components in sustainable transportation and industrial automation. Latin America and the Middle East & Africa, though smaller in scale, are gradually adopting silicon carbide in metallurgical applications and renewable energy infrastructure projects.

Major market players included in this report are:

• Infineon Technologies AG
• Wolfspeed, Inc.
• STMicroelectronics N.V.
• ROHM Co., Ltd.
• ON Semiconductor Corporation
• Fuji Electric Co., Ltd.
• Toshiba Corporation
• Microchip Technology Inc.
• Renesas Electronics Corporation
• Dow Corning Corporation
• II-VI Incorporated
• Norstel AB
• Applied Materials, Inc.
• SiCrystal GmbH
• SGL Carbon SE

Global Silicon Carbide Market Report Scope:

• Historical Data - 2023, 2024
• Base Year for Estimation - 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market.