DUBLIN--(BUSINESS WIRE)--The "Silicon Carbide Market Size, Share & Trends Analysis Report By Product (Black & Green), By Application (Steel, Automotive, Aerospace, Military & Defense), By Region, And Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global silicon carbide market size is projected to touch USD 7.18 billion by 2027, exhibiting a revenue-based CAGR of 16.1% over the forecast period according to this report. Rising demand from semiconductors is likely to remain a key driving factor as the product improves efficiency, reduces form factor, and operates at high temperatures.
The aforementioned properties of Silicon carbide (SiC) semiconductors along with its advantages over silicon makes it suitable in applications such as automotive and aerospace and defense industries. High temperature resistant materials are widely used in these industries, thus, there is increasing adoption of SiC semiconductors in power electronics, which in turn is likely to drive the SiC market growth over the forecast period.
In Asia Pacific, the rising population along with adopting urbanization is expected to propel the development of smart cities and smart houses, which in turn is anticipated to boost the demand for silicon carbide power modules in electric vehicles. China is one of the largest automobile producers in the world, accounting for 29.1% in 2018. Increasing production of automobiles is anticipated to fuel the product demand over the coming years.
Further key findings from the report suggest:
- Green silicon carbide segment is anticipated to progress at a CAGR of 10.1%, in terms of volume, over the forecast period owing to the increasing production of semiconductors that are further used in various electrical and electronics applications, such as transistors, solar cells, and LEDs
- Steel segment accounted for a revenue share of 21.1% in 2019 owing to the increasing demand for steel from various end-use, industries, such as automotive, construction, and oil and gas. Silicon carbide is used as a deoxidizing agent, abrasive, and refractory in the steel industry
- Electrical and electronics is among the fast growing segments with a CAGR of 10.8% in terms of volume from 2020 to 2027. The growth is attributed to the increasing demand for semiconductors owing to the increasing utilization of renewable sources of energy across the globe
- Asia Pacific is projected to witness a CAGR of 17.9% in terms of revenue over the forecast period, owing to the growth of the manufacturing sector in countries including China, India, Japan, and South Korea
- North America is expected to witness a CAGR of 7.6% in terms of volume over the forecast period owing to the increasing product utilization in electronics, aerospace, and defense industries.
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
3. Silicon Carbide Market Variables, Trends, & Scope
3.1 Market Segmentation
3.2 Penetration & Growth Prospect Mapping
3.3 Silicon Carbide Market - Value chain analysis
3.3.1 Raw material trends
3.3.2 Manufacturing trends
3.3.3 Cost structure analysis
3.3.4 Sales channel analysis
3.3.5 Profit margin analysis
3.4 Market dynamics
3.4.1 Market driver analysis
126.96.36.199 Increasing demand of refractories
188.8.131.52 Rising demand from semiconductor industry
3.4.2 Market restraint analysis
184.108.40.206 Gallium nitride as a substitute for silicon carbide in power modules
3.5 Regulatory framework
3.6 Porter's analysis
3.7 PESTEL analysis
3.8 Major deals & strategic alliances analysis
3.8.1 Divestment of silicon carbide business by Saint-Gobain
4. Silicon Carbide: Product Estimates & Trend Analysis
4.1 Silicon carbide market: product movement analysis, 2019 & 2027
4.1.1 Black silicon carbide
220.127.116.11 Black silicon carbide market estimates and forecasts, 2016 - 2027 (kilotons) (USD Million)
4.1.2 Green silicon carbide
5. Silicon Carbide: End-Use Estimates & Trend Analysis
5.1 Silicon carbide market: end-use movement analysis, 2019 & 2027
18.104.22.168 Market estimates and forecasts in steel, 2016 - 2027 (kilotons) (USD Million)
5.1.4 Military & Defense
5.1.5 Electrical & Electronics
5.1.7 Other applications
6. Silicon Carbide: Regional Estimates & Trend Analysis
6.1 Silicon carbide market: regional movement analysis, 2019 & 2027
6.2 North America
6.4 Asia Pacific
6.5 Central & South America
6.6 Middle East & Africa
7. Competitive Landscape
7.1 List of key silicon carbide manufacturers
7.2 List of potential consumers, by application
7.3 Competitive environment
8. Company Profiles
8.1 AGSCO Corporation
8.2 Carborundum Universal Limited.
8.3 Dow Chemical Co.
8.4 Entegris, Inc.
8.5 ESD-SiC b.v.
8.6 ESK-SIC GmbH
8.7 Gaddis Engineered Materials
8.8 Grindwell Norton Ltd.
8.9 Saint Gobain Ceramic Materials GmbH
8.10 Snam Abrasives Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/nxcikc