PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532863
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532863
Green SiC Market size was valued at USD 490.10 Million in 2023, expanding at a CAGR of 8.10% from 2024 to 2032.
Green Silicon Carbide (SiC) is a synthetic material known for its high hardness and excellent thermal conductivity. It is extensively used as an abrasive in grinding, cutting, and polishing applications, particularly in industries like automotive, electronics, and metallurgy. In electronics, Green SiC plays a crucial role in semiconductor production due to its precision cutting capabilities for silicon wafers. It is also utilized in refractories and metallurgical applications where its heat resistance and chemical stability are advantageous.
Green SiC Market- Market Dynamics
Growing Demand From The Metal Fabrication Industry
The Green Silicon Carbide (SiC) market is experiencing robust growth driven primarily by increasing demand from the metal fabrication industry. Green SiC is valued in metal fabrication for its exceptional hardness and abrasive properties, which are crucial for grinding, cutting, and polishing various metals with precision and efficiency. As the metal fabrication sector expands globally, particularly in the automotive, aerospace, and construction industries, the need for high-performance abrasives like Green SiC is escalating. This material's ability to withstand high temperatures and maintain sharpness over prolonged use makes it indispensable in applications requiring durable and efficient machining solutions. Furthermore, technological advancements and innovations in manufacturing processes are further fueling the adoption of Green SiC across diverse industrial sectors, solidifying its pivotal role in the market.
Green SiC Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.10% over the forecast period (2024-2032)
Based on Product Type segmentation, Grinding was predicted to show maximum market share in the year 2023
Based on End-user segmentation, Electronics was the leading type in 2023
On the basis of region, Asia-Pacific was the leading revenue generator in 2023
The Global Green SiC Market is segmented on the basis of Product Type, End User, and Region.
The market is divided into five categories based on Product Type: The grinding segment typically leads in terms of application. Grinding involves the use of abrasive materials to shape or finish a workpiece through frictional forces. Green SiC's properties, such as high hardness and excellent thermal conductivity, make it particularly suitable for grinding applications where durability and precision are crucial. This segment includes diverse industries such as automotive, aerospace, electronics, and manufacturing, where Green SiC abrasives are used for tasks ranging from precision grinding of electronic components to heavy-duty grinding of metals and ceramics.
The market is divided into five categories based on End User: The Electronics sector typically leads in the Green Silicon Carbide (SiC) market. This is primarily due to the critical role Green SiC plays in semiconductor production. Green SiC is used extensively in the manufacturing of semiconductors and LEDs, where its high thermal conductivity and stability at high temperatures are essential for efficient operation and reliability. Additionally, the electronics industry demands high-quality materials for precise cutting, shaping, and polishing of semiconductor wafers, which Green SiC abrasives excel at. Therefore, the electronics segment represents a significant portion of the Green SiC market, driven by ongoing technological advancements and increasing demand for electronic devices globally.
Green SiC Market- Geographical Insights
In the Asia-Pacific region, the Green Silicon Carbide (SiC) market is experiencing significant growth driven by expanding industrial End Users and technological advancements. Countries like China, Japan, and South Korea are key players due to their robust manufacturing sectors and investments in renewable energy. The demand for Green SiC is rising in sectors such as electronics, automotive, and abrasives, fueled by its superior properties like high thermal conductivity and hardness. Moreover, initiatives towards sustainable development and stringent environmental regulations are further boosting the adoption of Green SiC in the region.
The competitive landscape of Green Silicon Carbide (SiC) features several prominent manufacturers globally. Key players include Washington Mills and Fiven ASA, known for their extensive production capabilities and high-quality SiC products. Other significant contributors like Futong Industry Co. Limited and Henan Qingjiang Industrial Co., Ltd. from China, along with Shin-Etsu Chemical Co., Ltd. from Japan, play crucial roles in supplying SiC materials for abrasive, refractory, and semiconductor End Users. These companies compete based on product quality, technological innovation, and global market reach, striving to meet the growing demand across diverse industries such as electronics, automotive, and metallurgy.
In July 2024, onsemi unveiled its newest silicon carbide technology platform, the EliteSiC M3e MOSFETs.
In Jan 2024, Mitsubishi Electric to launch samples of its J3-Series SiC and Si power modules, designed for smaller and more efficient inverters in xEVs (electric vehicles).
In April 2023, DENSO created its inaugural inverter featuring silicon carbide (SiC) semiconductors. This advanced inverter is integrated into the eAxle, an electric propulsion module developed by BluE Nexus Corporation, and will be employed in the upcoming Lexus RZ, marking the automaker's debut dedicated battery electric vehicle (BEV) model.
GLOBAL GREEN SIC MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Washington Mills (USA)
Futong Industry Co. Limited (China)
CHOKO CO., LTD. (Japan)
U.S. Electrofused Minerals, Inc. (USA)
Henan Qingjiang Industrial Co., Ltd. (China)
Shin-Etsu Chemical Co., Ltd. (Japan)
Zibo Jinjiyuan Abrasives Co. Ltd. (China)
Fiven ASA (Norway)
Snam Abrasives Pvt. Ltd. (India)
General Abrasivi Srl. (Italy)
Infineon Technologies AG (Germany)
Cree, Inc. (USA)