Global Silicon Carbide (SiC) Market 2023-2029

Silicon carbide (SiC) is a combination of silicon and carbide in a crystalline structure, and there are about 250 different crystalline forms in which SiC can be found. Silicon carbide can take on many different forms: individual grains of SiC can be sintered together to form strong ceramics; fibers of SiC can be added to a polymer matrix to form a composite material, and large, individual crystals of silicone can be grown for use in semiconductor applications. Besides its applications in semiconducting, SiC is also used for products such as bulletproof vests, ceramic plates, thin filament pyrometry, foundry crucibles, and car clutches. The global silicon carbide market is likely to register a CAGR of over 10.6% with an incremental growth of USD 3.9 billion during the forecast period 2023-2029.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global silicon carbide market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, end user, and region. The global market for silicon carbide can be segmented by product: black silicon carbide (SiC), green silicon carbide (SiC). The black SiC segment held the largest revenue share in 2022. Silicon carbide market is further segmented by end user: aerospace and aviation, automotive, electronics and semiconductors, medical and healthcare, military and defense, steel, others. Among these, the electronics and semiconductors segment was accounted for the highest revenue generator in 2022. Based on region, the silicon carbide market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific captured the largest share of the market in 2022.

Market Segmentation
By product: black silicon carbide (SiC), green silicon carbide (SiC)
By end user: aerospace and aviation, automotive, electronics and semiconductors, medical and healthcare, military and defense, steel, others
By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The market research report covers the analysis of key stake holders of the global silicon carbide market. Some of the leading players profiled in the report include AGSCO Corporation, Carborundum Universal Limited, Compagnie de Saint-Gobain S.A. (Grindwell Norton Limited), Dow Chemical Company, Electro Abrasives, LLC (Grupo Curimbaba), Elkem ASA (Keyvest Belgium S.A.), ELSID S.A., Entegris, Inc., ESK-SIC GmbH, Fiven ASA, Fultech Technology Co., Ltd., Imerys S.A., IMEXCO Minerals GmbH, MFG mbH, Navarro SiC, S.A., Pacific Rundum Co., Ltd., PJSC Zaporozhsky Abrasivny Combinat, Shandong Jinmeng New Material Co., Ltd., Tifor B.V. (MAF Group B.V.), Volzhsky Abrasive Works, PJSC, Washington Mills AS, Weifang Liuhe New Material Co., Ltd., Wolfspeed, Inc. (Cree Inc.), among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global silicon carbide market.
• To classify and forecast the global silicon carbide market based on product, end user, region.
• To identify drivers and challenges for the global silicon carbide market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global silicon carbide market.
• To identify and analyze the profile of leading players operating in the global silicon carbide market.

Why Choose This Report
• Gain a reliable outlook of the global silicon carbide market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.