Newark, NJ, Aug. 10, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global Ultra High Purity Silicon Carbide market is expected to grow from USD 26.59 million in 2020 to USD 80.78 million by 2028, increasing at a CAGR of 14.9% during the forecast period 2021-2028.
Technologies like quantum computing, artificial intelligence, and 5G technology are also expected to provide new opportunities for sellers in the market. The increasing prevalence of these technologies, especially in the United States, is likely to remain a significant factor contributing to the market's growth. Companies in the United States have invested large sums in these technologies, which have positively impacted the development of semiconductors needed for artificial intelligence, supercomputers, and data centers. For example, research and development investments in the semiconductor industry in the United States have increased.
Silicon carbide is a semiconductor developed with a mixture of silicon and carbon. They exhibit a hardness level roughly equivalent to diamond, allowing SiC semiconductors to operate under extreme conditions. Moreover, silicon carbide properties such as high breakdown electric field strength, wider bandgap, low thermal expansion, and chemical reaction resistance enable it to gain an advantage over traditional silicon semiconductors in the energy semiconductor market. The energy required by silicon carbide electrons to jump from the valence band to the conduction band is three times that of the silicon semiconductor. This property enables SiC-based electronic devices to withstand higher voltages and temperatures than their silicon counterparts.
Challenges associated with designing SiC MOSFETs are defects in SiC power semiconductor production. The rise in the number of modern applications requiring SiC power devices provides lucrative market opportunities.One of the significant constraints associated with this market is the enormous cost of the chip needed to produce silicon carbide-based semiconductors.
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The key players in the market are CoorsTek Inc, Washington Mills, and JJISCO Inc., American Elements, LG Innotek, and Pacific Rundum Co. Ltd., Infineon Technologies AG, Cree Inc Toshiba Corporation, General Electric, NXP Semiconductors Power Integrations, STMicroelectronics, Tokyo Electron Limited, Microsemi Corporation, Fairchild Semiconductor, Renesas Electronics Corporation and ROHM. The global market belongs to a niche segment, with a low number of manufacturers in the market. The market has seen few developments in terms of production and supply. Pallidus, Inc. launched M-SiC, an ultra-pure silicon carbide product for silicon carbide power devices. The move aims to seize new opportunities in the aerospace, electric vehicle and energy industries. Bridgestone Corporation, a Japanese tire and rubber manufacturer, has transferred its business in high-purity silicon carbide components to Maruwa Corporation, Ltd. Products under this business are used to manufacture parts for semiconductor production equipment and semiconductor devices.
The Semiconductor segment dominated the market and held the largest market share of 57% in the year 2020.
Based on application, the global ultra high purity silicon carbide market is segmented into Semiconductors and LEDs. The Semiconductor segment dominated the market and held the largest market share of 57% in the year 2020. The semiconductor segment accounts for the largest share of the global high purity silicon carbide market. Impurities create challenges in the manufacturing process of semiconductors and next-generation energy devices. However, during the manufacturing process, the ultra-pure silicon carbide removes impurities to improve performance. Semiconductors have many excellent properties such as frequency, temperature, strength, high corrosion resistance and purity, making them well suited for next-generation power generation devices such as high voltage switches, power inventors for industrial equipment, air conditioners, electric power inverters, hybrids, thin cars, coatings, AC inverters, and solar air conditioning and wind power. These products possess a slight grid mismatch with high thermal conductivity and gallium nitride, making them suitable for use as a substrate for LED lamps. These substrate materials also facilitate color, brightness, life and other performance indicators.
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Regional Segment of Ultra High Purity Silicon Carbide Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global Ultra High Purity Silicon Carbide market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia Pacific region captured the most significant share of 48.0% due to increased demand from electronics and semiconductor industries. Countries such as China, Taiwan, South Korea and Japan are among the top 10 semiconductor producers in the world. The Asia-Pacific region accounts for more than 45% of the global semiconductor production share. The positive trend in consumer electronics, industrial electronics, computers, cell phones, electronic components and LED lights in Asian countries is expected to benefit market growth in the long term. For example, according to the Ministry of Electronics and Information Technology, the production value of electronic products in India has increased.
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About the report:
The global Ultra High Purity Silicon Carbide market is analyzed based on value (USD million). All the segments have been analyzed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insights into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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