Silicon Carbide Market Size, Share, Forecast, & Trends Analysis by Type, Forming Method, End-use Industry, Geography

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List of Tables

Silicon Carbide Market by Type (Black SiC, Green SiC), Forming Method (Reaction Bonding, Sintering, Recrystallization, Other Methods), End-use Industry (Automotive, Electronics & Semiconductor, Energy & Power, Others), Geography-Global Forecast to 2031

The research report titled, 'Silicon Carbide Market by Type (Black SiC, Green SiC), Forming Method (Reaction Bonding, Sintering, Recrystallization, Other Methods), End-use Industry (Automotive, Electronics & Semiconductor, Energy & Power, Others), Geography-Global Forecast to 2031', provides an in-depth analysis of the silicon carbide market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The silicon carbide market is projected to reach $9.5 billion by 2031, at a CAGR of 17.8% from 2024 to 2031.

The increasing use of SiC devices in power electronics and growing investment to increase SiC production are factors driving the growth of the silicon carbide market. However, market growth is restrained by the availability of substitute materials. In addition, the Growing demand for SiC in the oil and gas industry and the increasing use of SiC in electric vehicles provide considerable potential opportunities for market players. The market faces substantial challenges, including the high cost of raw materials and fabrication.

The silicon carbide market is segmented based on type (black SiC, green SiC), forming method (reaction bonding, sintering, recrystallization, other methods), end-use industry (automotive, electronics & semiconductors, energy & power, industrial, telecommunications, healthcare, and other end-use industries). The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on type, the silicon carbide market is segmented into black silicon carbide and green silicon carbide. In 2024, the black silicon carbide segment is expected to account for the larger share of over 72.0% of the silicon carbide market. Rising use of black SiC for abrasives, cutting tools, refractories, ceramics, and properties of black SiC, such as hardness, thermal stability, and chemical resistance, are factors contributing to the segment's dominant position in the silicon carbide market. However, the green silicon carbide segment is expected to grow at the highest CAGR during the forecast period.

Based on forming method, the silicon carbide market is segmented into reaction bonding, sintering, recrystallization, and other methods. In 2024, the sintering segment is expected to account for the largest share of over 28.0% of the silicon carbide market. The rising use of the sintering method to significantly enhance the mechanical, thermal, and chemical properties of SiC, making it an essential material in various high-performance applications, is contributing to the segment's dominant position in the silicon carbide market. However, the recrystallization segment is expected to grow at the highest CAGR during the forecast period.

Based on end-use industry, the silicon carbide market is segmented into automotive, electronics & semiconductors, energy & power, industrial, telecommunications, healthcare, and other end-use industries. In 2024, the electronics & semiconductor segment is expected to account for the largest share of over 23.0% of the silicon carbide market. Increased use of silicon carbide in power electronics and high-temperature applications and increased use of SiC in EV inverters and charging stations are factors contributing to the segment's dominant position in the silicon carbide market. However, the automotive segment is expected to grow at the highest CAGR during the forecast period.

Based on geography, the silicon carbide market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of above 55.0% of the silicon carbide market. Increased adoption of electric vehicles, rapid industrialization and rising investment to manufacture SiC component are factors contributing to the region's dominant position in the silicon carbide market. Moreover, the Asia-Pacific region is expected to grow with the highest CAGR of 18.4% during the forecast period.

Key Players:

The silicon carbide market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the silicon carbide market are AGSCO Corporation (U.S.), Carborundum Universal Limited (India), Washington Mills Electro Minerals Limited (U.S.), CoorsTek Inc. (U.S.), Entegris, Inc. (U.S.), ESD-SIC bv (Netherlands), Snam Abrasives Pvt. Ltd. (India), Morgan Advanced Materials (U.K.), Saint-Gobain (France), Schunk Group (Germany), Blasch Precision Ceramics, Inc. (U.S.), Christy Refractories (U.S.), among others.

Key questions answered in the report:

Which are the high-growth market segments based on type, forming method, and end-use industry?
What was the historical market for silicon carbide?
What are the market forecasts and estimates for the period 2024-2031?
What are the major drivers, restraints, and opportunities in the silicon carbide market?
Who are the major players, and what shares do they hold in the silicon carbide market?
What is the competitive landscape like in the silicon carbide market?
What are the recent developments in the silicon carbide market?
What are the different strategies adopted by the major players in the silicon carbide market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the silicon carbide market, and how do they compete with the other players?

Scope of the report:

Silicon Carbide Market Assessment-by Type

Black Silicon Carbide
Green Silicon Carbide

Silicon Carbide Market Assessment-by Forming Method

Reaction Bonding
Sintering
Recrystallization
Other Methods

Silicon Carbide Market Assessment-by End-use Industry

Automotive
Electronics & Semiconductors
Energy & Power
Industrial
Transportation
Telecommunications
Healthcare
Other End-use Industries

Silicon Carbide Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Switzerland
- Netherlands
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- UAE
- Israel
- Rest of Middle East & Africa

Product Code: MRCHM - 1041282

1. Introduction

1.1. Market Definition
1.2. Currency & Limitations
- 1.2.1. Currency
- 1.2.2. Limitations

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research / Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumption for the Study

3. Executive Summary

3.1. Market Overview
3.2. Market Analysis, by Type
3.3. Market Analysis, by Forming Method
3.4. Market Analysis, by End-use Industry
3.5. Market Analysis, by Geography
3.6. Competitive Analysis

4. Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Drivers
  - 4.2.1.1. Increasing Use of SiC Devices in Power Electronics
  - 4.2.1.2. Growing Investment to Increase SiC Production
- 4.2.2. Restraints
  - 4.2.2.1. Availability of Substitute Materials
- 4.2.3. Opportunities
  - 4.2.3.1. Growing Demand of SiC in the Oil & Gas Industry
  - 4.2.3.2. Increasing Use of SiC in Electric Vehicles
- 4.2.4. Challenges
  - 4.2.4.1. High Cost of Raw Material and Fabrication
4.3. Trends
4.4. Vendor Selection Criteria/Factors Affecting Buying Decision
4.5. Porter's Five Forces Analysis
4.6. Supply Chain Analysis

5. Silicon Carbide Market Assessment-by Type

5.1. Overview
5.2. Black Silicon Carbide
5.3. Green Silicon Carbide

6. Silicon Carbide Market Assessment-by Forming Method

6.1. Overview
6.2. Reaction Bonding
6.3. Sintering
6.4. Recrystallization
6.5. Other Methods

7. Silicon Carbide Market Assessment-by End-use Industry

7.1. Overview
7.2. Automotive
7.3. Electronics & Semiconductor
7.4. Energy & Power
7.5. Industrial
7.6. Transportation
7.7. Telecommunication
7.8. Healthcare
7.9. Other End-use Industries

8. Silicon Carbide Market Assessment-by Geography

8.1. North America
- 8.1.1. U.S.
- 8.1.2. Canada
8.2. Europe
- 8.2.1. Germany
- 8.2.2. U.K.
- 8.2.3. France
- 8.2.4. Italy
- 8.2.5. Spain
- 8.2.6. Switzerland
- 8.2.7. Netherlands
- 8.2.8. Rest of Europe
8.3. Asia-Pacific
- 8.3.1. Japan
- 8.3.2. China
- 8.3.3. India
- 8.3.4. South Korea
- 8.3.5. Singapore
- 8.3.6. Malaysia
- 8.3.7. Rest of Asia-Pacific
8.4. Latin America
- 8.4.1. Mexico
- 8.4.2. Brazil
- 8.4.3. Rest of Latin America
8.5. Middle East & Africa
- 8.5.1. UAE
- 8.5.2. Israel
- 8.5.3. Rest of Middle East & Africa

9. Silicon Carbide Market Assessment-Competitive Analysis

9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Dashboard
- 9.3.1. Industry Leaders
- 9.3.2. Market differentiators
- 9.3.3. Vanguards
- 9.3.4. Contemporary Stalwarts
9.4. Vendor Market Positioning
9.5. Market Share/Ranking by the Key Players

10. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)

10.1. AGSCO Corporation
10.2. Carborundum Universal Limited
10.3. Washington Mills Electro Minerals Limited
10.4. CoorsTek Inc.
10.5. Entegris, Inc.
10.6. ESD-SIC bv
10.7. Snam Abrasives Pvt. Ltd.
10.8. Morgan Advanced Materials
10.9. Saint-Gobain
10.10. Schunk Group
10.11. Blasch Precision Ceramics, Inc.
10.12. Christy Refractories

(Note: SWOT analysis of the top 5 companies will be provided)

11. Appendix

11.1. Available Customizations
11.2. Related Reports