Silicon Carbide Market Size, Share & Trends Report

Silicon Carbide Market Size, Share & Trends Analysis Report By Product (Black & Green), By Application (Steel, Automotive, Aerospace), By Region, And Segment Forecasts, 2023 - 2030

Report ID: 978-1-68038-153-5
Number of Report Pages: 94
Format: PDF, Horizon Databook

Historical Range: 2018 - 2021
Forecast Period: 2023 - 2030
Industry: Advanced Materials

Market Segmentation

Silicon Carbide Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Black Silicon Carbide
- Green Silicon Carbide
Silicon Carbide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Steel
- Automotive
- Aerospace
- Military & defense
- Electrical & electronics
- Healthcare
- Others
Silicon Carbide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
  - North America Silicon Carbide Market, By Product
    - Black Silicon Carbide
    - Green Silicon Carbide
  - North America Silicon Carbide Market, By Application
    - Steel
    - Automotive
    - Aerospace
    - Military & defense
    - Electrical & electronics
    - Healthcare
    - Others
  - U.S.
    - U.S. Silicon Carbide Market, By Product
      - Black Silicon Carbide
      - Green Silicon Carbide
    - U.S. Silicon Carbide Market, By Application
      - Steel
      - Automotive
      - Aerospace
      - Military & defense
      - Electrical & electronics
      - Healthcare
      - Others
- Europe
  - Europe Silicon Carbide Market, By Product
    - Black Silicon Carbide
    - Green Silicon Carbide
  - Europe Silicon Carbide Market, By Application
    - Steel
    - Automotive
    - Aerospace
    - Military & defense
    - Electrical & electronics
    - Healthcare
    - Others
  - Germany
    - Germany Silicon Carbide Market, By Product
      - Black Silicon Carbide
      - Green Silicon Carbide
    - Germany Silicon Carbide Market, By Application
      - Steel
      - Automotive
      - Aerospace
      - Military & defense
      - Electrical & electronics
      - Healthcare
      - Others
- Asia Pacific
  - Asia Pacific Silicon Carbide Market, By Product
    - Black Silicon Carbide
    - Green Silicon Carbide
  - Asia Pacific Silicon Carbide Market, By Application
    - Steel
    - Automotive
    - Aerospace
    - Military & defense
    - Electrical & electronics
    - Healthcare
    - Others
  - China
    - China Silicon Carbide Market, By Product
      - Black Silicon Carbide
      - Green Silicon Carbide
    - China Silicon Carbide Market, By Application
      - Steel
      - Automotive
      - Aerospace
      - Military & defense
      - Electrical & electronics
      - Healthcare
      - Others
  - India
    - India Silicon Carbide Market, By Product
      - Black Silicon Carbide
      - Green Silicon Carbide
    - India Silicon Carbide Market, By Application
      - Steel
      - Automotive
      - Aerospace
      - Military & defense
      - Electrical & electronics
      - Healthcare
      - Others
- Central & South America
  - Central & South America Silicon Carbide Market, By Product
    - Black Silicon Carbide
    - Green Silicon Carbide
  - Central & South America Silicon Carbide Market, By Application
    - Steel
    - Automotive
    - Aerospace
    - Military & defense
    - Electrical & electronics
    - Healthcare
    - Others
  - Brazil
    - Brazil Silicon Carbide Market, By Product
      - Black Silicon Carbide
      - Green Silicon Carbide
    - Brazil Silicon Carbide Market, By Application
      - Steel
      - Automotive
      - Aerospace
      - Military & defense
      - Electrical & electronics
      - Healthcare
      - Others
- Middle East & Africa
  - Middle East & Africa Silicon Carbide Market, By Product
    - Black Silicon Carbide
    - Green Silicon Carbide
  - Middle East & Africa Silicon Carbide Market, By Application
    - Steel
    - Automotive
    - Aerospace
    - Military & defense
    - Electrical & electronics
    - Healthcare
    - Others

Silicon Carbide Market Dynamics

Driver: Increasing demand of refractories

Silicon carbide is used as a raw material for refractory on account of its high temperature resistance. These refractory materials are used in linings of furnaces, kilns, furnaces and reactors which cater to numerous industries such as aluminum, steel, cast iron and metal. The surging demand from metal and cement industry is expected to drive the market for refractory materials such as silicon carbide. In addition, silicon carbide is used as abrasive, as well as deoxidizing fuel in steel industry. Therefore, the increasing crude steel production which is driven by strong demand from end-use applications such as automotive, household and aerospace is expected to indirectly influence the growth of silicon carbide market.

Driver: Rising demand from the semiconductors industry

Silicon carbide has three significant applications namely refractories, ceramics, and semiconductor. Currently, the semiconductor application is estimated to grow the fastest over the coming years and is therefore predicted to significantly drive the growth of global silicon carbide market. Silicon carbide has thrice the thermal conductivity, thrice the band gap, and ten times ten times the critical electric field strength than that of silicon. Thus, there is increasing adoption of silicon carbide semiconductors in power electronics. Semiconductor devices manufactured from silicon carbide exhibit tremendous speed, exceptional toughness, and therefore are considered to be a more efficient alternative to silicon. As a result, SiC diodes are already replacing silicon in the semiconductor industry. In addition, SiC manufacturers have already eliminated the defects in the material while simultaneously increasing wafer size and driving down costs.

Applications such as power supplies and photovoltaic inverters are the significant drivers of the SiC semiconductor. Moreover, SiC power electronics is also adopted in electric vehicle charging, wind energy infrastructure and industrial motor drives. The growing utilization of renewable sources of energy for power generation around the globe is anticipated to stimulate the market of SiC power semiconductors. Moreover, the rising penetration of electric vehicles is expected to further stimulate the growth of silicon carbide semiconductors.

Restraint: Gallium nitride as a substitute for silicon carbide in power modules

Gallium nitride (GaN) is a direct band gap binary III/V semiconductor usually utilized in bright lightemitting diodes. It has a significant band gap of 3.4eV that makes it suitable for applications in highpower, optoelectronic, and high-frequency devices. GaN is a hard, wide bandgap mechanically stable semiconductor material with high thermal conductivity and high heat capacity and. In addition, its higher electron mobility than SiC enables it to work for at higher frequencies and provides high band gap in comparison to SiC. Even though GaN is intended for less than 600V, its small size results in faster transmission of electrons. The advantage of GaN over SiC is mainly due to the manufacturing technologies used today. The most cost effective way to manufacture GaN transistor is to cultivate a thin epitaxial layer of a crystal on top of the silicon wafer. Further, the wafer is processed into active transistors in a standard silicon foundry at very low cost. Furthermore, low voltage transistors manufactured by GaN do not require expensive, bulky packages that are usually required for SiC transistors. Such bulky packages limit the performance of the transistors. As a result, GaN transistors, when compared to SiC, are particularly advantageous at lower voltages. Therefore, in the current power semiconductor market, GaN is a major substitute to silicon carbide. It acts a major restraint in the growth of silicon carbide in power semiconductor applications.

What Does This Report Include?

This section will provide insights into the contents included in this silicon carbide market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Silicon carbide market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Silicon carbide market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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