Silicon Carbide Global Market to Reach $4.4 Billion by 2030: Growing Focus on Power Electronics Drives Uptake of SiC


Dublin, July 13, 2023 (GLOBE NEWSWIRE) -- The "Silicon Carbide: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Silicon Carbide estimated at US$1.1 Billion in the year 2022, is projected to reach a revised size of US$4.4 Billion by 2030, growing at a CAGR of 18.9% over the analysis period 2022-2030.

Black SiC, one of the segments analyzed in the report, is projected to record a 16.8% CAGR and reach US$2.1 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Green Sic segment is readjusted to a revised 22.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $167.3 Million, While China is Forecast to Grow at 21.9% CAGR

The Silicon Carbide market in the U.S. is estimated at US$167.3 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 21.9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.5% and 15.5% respectively over the 2022-2030 period.

Within Europe, Germany is forecast to grow at approximately 15.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2030.

Select Competitors (Total 107 Featured) -

  • AGSCO Corporation
  • Carborundum Universal Limited
  • Entegris, Inc.
  • ESK-SIC GmbH
  • Fuji Electric Co., Ltd.
  • Grindwell Norton Limited
  • Infineon Technologies AG
  • Microchip Technology Inc.
  • Renesas Electronics Corporation
  • ROHM Co., Ltd.
  • Saint Gobain Ceramic Materials GmbH
  • Semiconductor Components Industries, LLC
  • STMicroelectronics AG
  • The General Electric Company
  • Toshiba Corporation

Key Attributes:

Report AttributeDetails
No. of Pages482
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$1.1 Billion
Forecasted Market Value (USD) by 2030$4.4 Billion
Compound Annual Growth Rate18.9%
Regions CoveredGlobal

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Silicon Carbide - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Impact on Silicon Carbide Market
  • Impact of COVID-19 on the Semiconductor Industry Exposes the Risk of Value Chain Modularity
  • Silicon Carbide: A Prelude
  • Silicon Carbide Emerges as Go-To Solution for Demanding Industrial Applications
  • Market Outlook
  • Asia-Pacific Continues to Dominate Production and Consumption
  • Recent Industry Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growing Focus on Power Electronics Drives Uptake of SiC
  • Rising Demand for Wide-Bandgap Materials Bodes Well
  • Automotive Industry: A Major Market for SiC
  • Incessant Drift Towards E-Mobility Drives Uptake
  • SiC MOSFETs Gaining Traction in Automotive Sector
  • Select Automotive Models & Platforms with SiC MOSFET Inverter Technology
  • EVs and Opportunities: Past, Present and Future
  • Global Electric Car Fleet Size (In Thousand Units) for the Years 2014, 2016, 2018 and 2021
  • Global Chip Shortage Mars the Expected Recovery of the Auto Industry in 2021 & 2022. EVs to Also Feel the Pain
  • Rising Chip Lead Times Hurt Auto OEMs: Global Auto Chip Lead Times (In Weeks) for Years 2017 Through 2021
  • Growth in 5G Adoption and Prospects Ahead
  • Global 5G Subscriptions (In Million) for Years 2020, 2022, 2024 and 2026
  • Percentage 5G Adoption by Region in 2025
  • SiC Low Costs Drive Application as Abrasives
  • Knoop Hardness of Tooling Materials such as Diamond, Cubic Boron Nitride, Vanadium Carbide, Silicon Carbide, Aluminum Oxide, Tungsten Carbide, Hard Steel HRC 65 and Soft Steel HRB 85 - (in x 103)
  • SiC to Experience Improved Demand as Material Engineering Gains Traction in Aerospace
  • Composites Make Up for About Half of Total Weight of Modern Aircraft: Percentage Breakdown of Structural Weight Composition by Material for Airbus 350XWB and Boeing 787
  • Aerospace Industry Limps Back Onto a Long Road to Recovery, Brightening the Outlook for Aerospace Materials
  • Aerospace Industry Recovery to Strengthen by 2022
  • Global Air Traffic Passenger Traffic Estimates and Forecasts in Billion for the Period 2015-2025
  • Global Aircraft Fleet by Aircraft Type for the Years 2018 and 2038
  • Steel: An Important End-Use Market for SiC
  • Recovery in Steel Demand Sends Good Vibes for Silicon Carbide Market
  • Global Steel Demand (2021): Percentage Breakdown of Consumption by Product Shape
  • Global Crude Steel Production in Million Tonnes: 2010-2020
  • Global Steel Consumption in Million Tonnes: 2016, 2018, 2020, 2022, 2024 and 2026
  • SiC as a Refractory Material
  • Rising Interest in Graphene Drives Prospects
  • SiC Gains as Solar Power Becomes Indispensable to Global Energy Mix
  • Robust Demand for Solar Power Provides a Fertile Environment for the Growth of Solar Lighting Systems: Global Demand for Solar Photovoltaic Power (In Gigawatts) for Years 2020, 2022, 2024 & 2026
  • Growing Investments in Microgrid Systems Drive SiC Components
  • Global MicroGrids Market in US$ Billion for Years 2020, 2022, 2024, and 2026
  • SiC Seeks Role in Military & Defense Applications
  • R&D Developments to Widen Market Prospects
  • Nanoscale SiC Powder in Demand
  • Silicon Carbide Offers Promise to Avoid False Negatives in COVID-19 Tests

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/vd53tb

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Global Market for Silicon Carbide

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