Spherical Silicon Carbide Market Size, Share, Trends, Industry Analysis Report: By Product, Application, and Region

Description

List of Tables

The global spherical silicon carbide market size is expected to reach USD 12,157.76 million by 2034, according to a new study by Polaris Market Research. The report "Spherical Silicon Carbide Market Size, Share, Trends, Industry Analysis Report: By Product, Application (Filler Material, Ceramic Material, Coating, and Other), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increased government investments in semiconductor manufacturing are driving the spherical silicon carbide market growth. For instance, in December 2021, India launched the Semicon India Program, allocating around USD 9.2 billion to improve its semiconductor ecosystem. These initiatives are driving the demand for advanced materials like spherical silicon carbide, which are essential for improving the efficiency and performance of semiconductor devices.

The demand for spherical silicon carbide is on the rise due to the increasing use of consumer electronics. As the global consumption of devices such as smartphones, laptops, and wearables increases, there is a growing need for efficient power management and high-performance components. Spherical silicon carbide offers superior thermal conductivity and efficiency, making it an ideal choice for power electronics in these devices.

The spherical silicon carbide market is growing due to the rising demand for electric vehicles (EVs), with sales reaching 16 million units in 2023, up from 0.2 million in 2012. This increase drives the need for efficient power electronics and advanced battery technologies, making spherical silicon carbide essential for improving the performance of EV components like inverters and charging systems.

Key Highlights of Spherical Silicon Carbide Market Report

Based on application, the coating segment is anticipated to experience substantial growth with a significant CAGR during the forecast period due to its vast applications across industries such as automotive and aerospace.

Based on product, the below 30.0 μm segment is expected to record significant growth the market in 2023 due to its increasing applications in advanced materials and electronics.

In 2024, North America dominated the global market due to increasing demand for electric and hybrid vehicles in the region.

The spherical silicon carbide market in India is projected for substantial growth due to increased investments in key sectors such as automotive and electronics.

A few of the global key market players are Fujimi Corporation, Shin-Etsu Chemical, Heeger Materials Inc., Matrix Solution India, and Stanford Advanced Materials.

Polaris Market Research has segmented the spherical silicon carbide market research report on the basis of product, application, and region:

By Product Outlook (Revenue - USD Million, 2020-2034)

§ Below 30.0 μm
§ 30.0-50.0 μm
§ Above 50.0 μm

By Application Outlook (Revenue - USD Million, 2020-2034)

§ Filler Material
§ Ceramic Material
§ Coating
§ Other

By Regional Outlook (Revenue - USD Million, 2020-2034)

North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM5372

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Spherical Silicon Carbide Market Insights

4.1. Spherical Silicon Carbide Market - Market Snapshot
4.2. Spherical Silicon Carbide Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Growing Government Investment in Semiconductor Manufacturing is driving the market size
  - 4.2.1.2. Rise in Demand for Electric Vehicle is driving the Spherical Silicon Carbide Market growth
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Production Costs of Spherical Silicon Carbide
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Spherical Silicon Carbide Market Application Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Spherical Silicon Carbide Market, by Products

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
5.3. Below 30.0 μm
- 5.3.1. Global Spherical Silicon Carbide Market, by Below 30.0 μm, by Region, 2020-2034 (USD Million)
5.4. 30.0-50.0 μm
- 5.4.1. Global Spherical Silicon Carbide Market, by 30.0-50.0 μm, by Region, 2020-2034 (USD Million)
5.5. Above 50.0 μm
- 5.5.1. Global Spherical Silicon Carbide Market, by Above 50.0 μm, by Region, 2020-2034 (USD Million)

6. Global Spherical Silicon Carbide Market, by Application

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
6.3. Filler Material
- 6.3.1. Global Spherical Silicon Carbide Market, by Filler Material, by Region, 2020-2034 (USD Million)
6.4. Ceramic Material
- 6.4.1. Global Spherical Silicon Carbide Market, by Ceramic Material, by Region, 2020-2034 (USD Million)
6.5. Coating
- 6.5.1. Global Spherical Silicon Carbide Market, by Coating, by Region, 2020-2034 (USD Million)
6.6. Other
- 6.6.1. Global Spherical Silicon Carbide Market, by Other, by Region, 2020-2034 (USD Million)

7. Global Spherical Silicon Carbide Market, by Geography

7.1. Key Findings
7.2. Introduction
- 7.2.1. Spherical Silicon Carbide Market Assessment, By Geography, 2020-2034 (USD Million)
7.3. Spherical Silicon Carbide Market - North America
- 7.3.1. North America: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
- 7.3.2. North America: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.3.3. Spherical Silicon Carbide Market - U.S.
  - 7.3.3.1. U.S.: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.3.3.2. U.S.: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.3.4. Spherical Silicon Carbide Market - Canada
  - 7.3.4.1. Canada: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.3.4.2. Canada: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
7.4. Spherical Silicon Carbide Market - Europe
- 7.4.1. Europe: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
- 7.4.2. Europe: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.4.3. Spherical Silicon Carbide Market - UK
  - 7.4.3.1. UK: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.4.3.2. UK: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.4.4. Spherical Silicon Carbide Market - France
  - 7.4.4.1. France: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.4.4.2. France: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.4.5. Spherical Silicon Carbide Market - Germany
  - 7.4.5.1. Germany: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.4.5.2. Germany: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.4.6. Spherical Silicon Carbide Market - Italy
  - 7.4.6.1. Italy: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.4.6.2. Italy: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.4.7. Spherical Silicon Carbide Market - Spain
  - 7.4.7.1. Spain: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.4.7.2. Spain: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.4.8. Spherical Silicon Carbide Market - Netherlands
  - 7.4.8.1. Netherlands: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.4.8.2. Netherlands: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.4.9. Spherical Silicon Carbide Market - Russia
  - 7.4.9.1. Russia: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.4.9.2. Russia: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.4.10. Spherical Silicon Carbide Market - Rest of Europe
  - 7.4.10.1. Rest of Europe: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.4.10.2. Rest of Europe: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
7.5. Spherical Silicon Carbide Market - Asia Pacific
- 7.5.1. Asia Pacific: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
- 7.5.2. Asia Pacific: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.5.3. Spherical Silicon Carbide Market - China
  - 7.5.3.1. China: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.5.3.2. China: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.5.4. Spherical Silicon Carbide Market - India
  - 7.5.4.1. India: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.5.4.2. India: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.5.5. Spherical Silicon Carbide Market - Malaysia
  - 7.5.5.1. Malaysia: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.5.5.2. Malaysia: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.5.6. Spherical Silicon Carbide Market - Japan
  - 7.5.6.1. Japan: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.5.6.2. Japan: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.5.7. Spherical Silicon Carbide Market - Indonesia
  - 7.5.7.1. Indonesia: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.5.7.2. Indonesia: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.5.8. Spherical Silicon Carbide Market - South Korea
  - 7.5.8.1. South Korea: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.5.8.2. South Korea: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.5.9. Spherical Silicon Carbide Market - Australia
  - 7.5.9.1. Australia: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.5.9.2. Australia: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.5.10. Spherical Silicon Carbide Market - Rest of Asia Pacific
  - 7.5.10.1. Rest of Asia Pacific: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.5.10.2. Rest of Asia Pacific: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
7.6. Spherical Silicon Carbide Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
- 7.6.2. Middle East & Africa: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.6.3. Spherical Silicon Carbide Market - Saudi Arabia
  - 7.6.3.1. Saudi Arabia: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.6.3.2. Saudi Arabia: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.6.4. Spherical Silicon Carbide Market - UAE
  - 7.6.4.1. UAE: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.6.4.2. UAE: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.6.5. Spherical Silicon Carbide Market - Israel
  - 7.6.5.1. Israel: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.6.5.2. Israel: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.6.6. Spherical Silicon Carbide Market - South Africa
  - 7.6.6.1. South Africa: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.6.6.2. South Africa: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.6.7. Spherical Silicon Carbide Market - Rest of Middle East & Africa
  - 7.6.7.1. Rest of Middle East & Africa: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.6.7.2. Rest of Middle East & Africa: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
7.7. Spherical Silicon Carbide Market - Latin America
- 7.7.1. Latin America: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
- 7.7.2. Latin America: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.7.3. Spherical Silicon Carbide Market - Mexico
  - 7.7.3.1. Mexico: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.7.3.2. Mexico: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.7.4. Spherical Silicon Carbide Market - Brazil
  - 7.7.4.1. Brazil: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.7.4.2. Brazil: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.7.5. Spherical Silicon Carbide Market - Argentina
  - 7.7.5.1. Argentina: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.7.5.2. Argentina: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)
- 7.7.6. Spherical Silicon Carbide Market - Rest of Latin America
  - 7.7.6.1. Rest of Latin America: Spherical Silicon Carbide Market, by Products, 2020-2034 (USD Million)
  - 7.7.6.2. Rest of Latin America: Spherical Silicon Carbide Market, by Application, 2020-2034 (USD Million)

8. Competitive Landscape

8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles

9.1. Fujimi Corporation
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
9.2. Shin-Etsu Chemical
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
9.3. Heeger Materials Inc.
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
9.4. Matrix Solution India
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
9.5. Stanford Advanced Materials
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development