PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350300
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350300
Silicon Carbide Market, By Product Type, By End User, By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Global silicon carbide market market was valued at US$ 8.59 Bn in 2022, exhibiting a CAGR of 6.2% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 13.92 Bn by 2030.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2023: | US$ 8.59 Bn |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
| Forecast Period 2023 to 2030 CAGR: | 6.20% | 2030 Value Projection: | US$ 13.92 Bn |
Silicon carbide is typically used for finishing cast iron, non-ferrous metals, stone, leather, and rubber the sharp cutting characteristics of black silicon carbide is anticipated to give an uptick to its demand during the projection period. High thermal conductivity and energy efficiency of silicon carbide drive the global silicon carbide market to substantial growth during the forecast period
Market Dynamics
Robust growth in the steel industry due to the increasing production of steel is a prime factor driving the market growth of silicon carbide. Silicon carbide (SiC) is used as a deoxidizing agent in steel production. According to the India Brand Equity Foundation, India was the world's second-largest steel producer with production standing at 111.2 million tons (MT) in 2020. As silicon carbide acts as a deoxidizing agent in steel production, its demand is increasing day by day in the steel-producing industry.
Increasing global demand for EVs due rapid adoption of zero-emission technologies is expected to drive the demand for silicon carbide. According to Global EV Outlook, 2021 by the International Energy Agency (IEA), registrations of electric cars increased by 41% in 2020, and around 3 million electric cars were sold globally. The rapid adoption of EV vehicles over fuel-based vehicles can play an important role in achieving the target of limiting the global temperature rise to 1.5°C, above pre-industrial times as decided in the Paris Agreement by the United Nations (UN).
However, the adoption of EVs must be supplemented with increasing investments in the construction of EV charging stations. The government of America has allocated capital of US$ 15 billion to build 500,000 EV charging stations. Similarly, on 10 April 2020, the Government of China invested US$ 1.42 billion (RMB 10 billion) to expand the charging network for EVs by 50% within the country. Around 600,000 charging points were established in 2020. Silicon carbide is used in EV charging infrastructure to deliver higher voltages and a higher level of power as compared to silicon-based charging infrastructure. A SiC fast DC charging solution can deliver 33% more power in 25% of the area and with 50% lower losses.
Key features of the study:
- This report provides an in-depth analysis of global silicon carbide market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2022 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global silicon carbide market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include AGSCO Corporation, Carborundum Universal Ltd., Entegris Inc., ESD-SIC b.v., ESK-SIC GmbH, Gaddis Engineered Materials, Grindwell Norton Ltd., Norstel AB, Saint-Gobain Ceramics Materials GmbH, and Snam Abrasives Pvt. Ltd.
- Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
- The global silicon carbide market report caters to various stakeholders in this industry including investors, suppliers, safety knives manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global silicon carbide market
Detailed Segmentation:
- Global Silicon Carbide Market, By Product Type:
- Black SiC,
- Green SiC
- Others
- Global Silicon Carbide Market, By End User :
- Steel & energy
- Automotive
- Aerospace & Aviation
- Military & Defense
- Electronics & semiconductors
- Medical & healthcare
- Others
- Global Silicon Carbide Market , By Region:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- North Africa
- Central Africa
- South Africa
- Company Profiles
- AGSCO Corporation
- Carborundum Universal Ltd
- Entegris Inc. ESD-SIC b.v.
- ESK-SIC GmbH
- Gaddis Engineered Materials
- Grindwell Norton Ltd.
- Norstel AB
- Saint-Gobain Ceramics Materials GmbH
- Snam Abrasives Pvt. Ltd
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Economic Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions
- New Product Approvals/Launch
- Promotion and Marketing Initiatives
- Cost Tier Down Analysis
4. Global Silicon Carbide Market - Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
5. Global Silicon Carbide Market, By Product Type, 2023-2030 (US$ Billion and Tons)
- Introduction
- Market Share Analysis, 2023 and 2030
- Y-o-Y Growth Analysis, 2023-2030 (%)
- Segment Trends
- Black SiC
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
- Green SiC
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
6. Global Silicon Carbide Market, By End User, 2023-2030 (US$ Billion and Tons)
- Introduction
- Market Share Analysis, 2023 and 2030
- Y-o-Y Growth Analysis, 2023-2030 (%)
- Segment Trends
- Steel and Energy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
- Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
- Aerospace and Aviation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
- Military and Defense
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
- Electronics and Semiconductors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
- Medical and HealthCare
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030, (US$ Billion and Tons)
7. Global Silicon Carbide Market, By Region, 2023-2030 (US$ Billion and Tons)
- Introduction
- Market Share Analysis, By Region, 2023 and 2030
- Y-o-Y Growth Analysis, By Region, 2023-2030 (%)
- North America
- Market Share Analysis, By Country, 2023 and 2030
- Y-o-Y Growth Analysis, By Country, 2023-2030 (%)
- U.S.
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Canada
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Europe
- Market Share Analysis, By Country, 2023 and 2030
- Y-o-Y Growth Analysis, By Country, 2023-2030 (%)
- U.K.
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Germany
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- France
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Italy
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Spain
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Russia
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Rest of Europe
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Asia Pacific
- Market Share Analysis, By Country, 2023 and 2030
- Y-o-Y Growth Analysis, By Country, 2023-2030 (%)
- China
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- India
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Japan
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- ASEAN
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Australia
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- South Korea
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Rest of Asia Pacific
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Latin America
- Market Share Analysis, By Country, 2023 and 2030
- Y-o-Y Growth Analysis, By Country, 2023-2030 (%)
- Brazil
- Country Trends
- Market Size and Forecast, By Product Type, 2023-2030 (US$ Billion and Tons)
- Market Size and Forecast, By Application, 2023-2030 (US$ Billion and Tons)
- Mexico
- Argentina
- Rest of Latin America
- Middle East
- Market Share Analysis, By Country, 2023 and 2030
- Y-o-Y Growth Analysis, By Country, 2023-2030 (%)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Share Analysis, By Sub-region, 2023 and 2030
- Y-o-Y Growth Analysis, By Sub-region, 2023-2030 (%)
- North Africa
- Central Africa
- South Africa
8. Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- AGSCO Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Carborundum Universal Ltd
- Entegris Inc
- ESK-SIC GmbH
- Gaddis Engineered Materials
- Grindwell Norton Ltd
- Norstel AB
- Saint-Gobain Ceramics Materials GmbH
- Snam Abrasives Pvt Ltd
9. Section
- References
- Research Methodology
- About us and Sales Contact
