Silicon Carbide Market by Product (Black Silicon Carbide, Green Silicon Carbide), Grain Size (Coarse Grain, Fine Grain, Medium Grain), Manufacturing Process, End-Use Industry - Global Forecast 2024-2030

[194 Pages Report] The Silicon Carbide Market size was estimated at USD 3.57 billion in 2023 and expected to reach USD 3.94 billion in 2024, at a CAGR 10.64% to reach USD 7.25 billion by 2030.

Silicon carbide, or SiC, is a synthetic silicon and carbon crystalline compound. The molecular structure of silicon carbide is unique, featuring a robust bonding between the silicon and carbon atoms. This tetrahedral crystalline structure endows silicon carbide with distinct physical and chemical properties that are fundamentally advantageous compared to other materials. Silicon carbide is exceptionally hard, with a Mohs hardness rating close to the diamond, which makes it highly resistant to wear and abrasion. Furthermore, SiC exhibits high thermal conductivity, low thermal expansion, and remarkable chemical stability, even at elevated temperatures. Increasing demand for energy-efficient power electronics and the rising focus on high-temperature resistive refractory products is propelling the expansion of the silicon carbide market. However, the expenses associated with material and fabrication hinder the adoption of silicon carbide. The advancements in SiC manufacturing technologies and ongoing government investments in energy-efficient technologies offer lucrative opportunities for the growing silicon carbide market.

In the Americas, particularly in the United States, the adoption and production of silicon carbide is high, driven significantly by the burgeoning electric vehicle (EV) market and the renewable energy sector. Major U.S.-based companies are ramping up their production capacities to fulfill domestic and international demand. The North American market is also seeing an increase in government investments and subsidies aimed at boosting the production capabilities of SiC semiconductors, which is poised to propel the market growth further. The Asia-Pacific region is showcasing rapid growth in the silicon carbide market, mainly attributed to the rapid industrialization and the expanding automotive sector, particularly in China, Japan, and South Korea. China, a significant consumer and producer of electric vehicles, represents a substantial market for SiC components. Moreover, the region benefits from the availability of raw materials and lower manufacturing costs, which boost production capabilities. In the transition toward renewable energy sources within the Asia-Pacific realm, silicon carbide (SiC) emerges as a pivotal element in improving the performance of solar inverters and various renewable energy apparatuses. The EMEA region showcases a high demand for silicon carbide, mainly attributed to the automotive and electronics sectors. Europe, particularly with its strict environmental regulations and significant investments in electric vehicles, is a primary driver for the SiC market. The region's focus on minimizing carbon emissions and increasing energy efficiency aligns well with the benefits offered by SiC technology. The Middle East and African region is gradually adopting SiC technology, mainly in renewable energy applications.

The market dynamics represent an ever-changing landscape of the Silicon Carbide Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

• Market Drivers
  • Increasing demand for energy-efficient power electronics
  • Growing focus on high-temperature resistive refractory products
  • Widening use of SiC in advanced power semiconductors
• Market Restraints
  • High costs associated with the material and fabrication of silicon carbide
• Market Opportunities
  • Developments for improving the quality of SiC substrate and epitaxy
  • High potential of utilizing SiC in nanomechanical sensors and solar cells
• Market Challenges
  • Technical barriers in the integration of SiC-based components into existing systems

• Product: Increasing demand for green silicon carbide owing to its purity and high hardness

  Black silicon carbide is characterized by its black color and is primarily manufactured through the Acheson process. It contains approximately 95% SiC and exhibits traits such as low impurity content, high hardness, and thermal resistance. This variant is commonly used in applications requiring high durability and thermal conductivity, such as abrasive materials, refractory products, and certain electronic and semiconductor applications. Green silicon carbide is made by a lower temperature process, which results in higher purity SiC, often exceeding 99%. Its green color comes from the lack of impurities present. This type of SiC is typically used in applications that require extremely high precision and minimal impurities, such as in the manufacturing of electronics, particularly for creating semiconductors, and in abrasive materials for finishing delicate and high-precision tools and components.

• End-Use Industry: Widening use in electronics & semiconductor industries due to its ability to withstand high temperatures, power levels, and voltages

  Silicon carbide is used in aerospace and defense sectors for various applications, including fabricating armor plates and components of spacecraft and satellites, which demand materials that can withstand extreme conditions. In the automotive industry, silicon carbide makes advanced brake systems and power electronics for electric vehicles. Its superior thermal conductivity and strength enhance the efficiency and durability of these components, contributing to longer vehicle lifespans and better performance. Silicon carbide is pivotal for producing robust industrial ceramics, renowned for their exceptional durability, heat resistance, and resilience in harsh conditions, such as creating mechanical seals and bearings. In electronics and semiconductor production, it stands out as a superior substrate for power devices, significantly enhancing energy efficiency by facilitating more effective electron conduction. The energy and power sectors benefit from silicon carbide in applications such as solar power inverters and wind turbines. The ability of silicon carbide to withstand high voltages and temperatures reduces power loss and increases the efficiency of power conversion systems. In foundries, silicon carbide is a durable material in molds and furnaces and withstands the extreme temperatures of metal casting processes, helping improve the quality of cast metal products while extending the life of foundry equipment.

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Silicon Carbide Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Silicon Carbide Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Silicon Carbide Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

• Mitsubishi Electric Partnered with Nexperia for the Development of Silicon Carbide (SiC) Power Semiconductors

  Mitsubishi Electric Corporation partnered with Nexperia B.V., aiming for advancements in the power electronics domain through the joint development of Silicon Carbide (SiC) power semiconductors. Leveraging Mitsubishi Electric's expertise in wide-bandgap semiconductor technologies, the partnership is set to focus on the creation and supply of SiC MOSFET chips. These chips are expected to be instrumental for Nexperia in developing SiC discrete devices, marking a significant stride toward innovation in power electronics components. [Published On: November 13, 2023]

• The Silicon Power Group Expressed Interest to Set Up Silicon Carbide Unit in Odisha

  The Silicon Power Group expressed interest in establishing a robust presence in India’s silicon carbide sector. The group has announced plans to invest `1,000 crore in setting up an advanced 150 mm silicon carbide manufacturing facility in Odisha through its Indian subsidiary, RiR Power Electronics. [Published On: July 28, 2023]

• Vitesco Technologies Partnered with ROHM for a Long-Term Supply of Silicon Carbide

  Vitesco Technologies entered into a long-term supply partnership with ROHM, surpassing USD 1 billion in value until 2030, to secure essential capacity in energy-efficient silicon carbide power semiconductors. The partnership, finalized in Regensburg, underpins the integration of ROHM's SiC chips into Vitesco's advanced inverters. [Published On: June 19, 2023]

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Silicon Carbide Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

The report delves into recent significant developments in the Silicon Carbide Market, highlighting leading vendors and their innovative profiles. These include AGC Inc., Agsco Corporation, Carborundum Universal Limited, Cerablast GmbH & Co. KG, CeramTec GmbH, CoorsTek Inc., Elkem ASA, Entegris, Inc., Fiven GmbH, Fuji Electric Co., Ltd., General Electric Company, II-Vi Incorporated, Imerys S.A., Infineon Technolodies AG, Kuhmichel Abrasiv GmbH, KYOCERA Corporation, Littelfuse, Inc., MACOM Technology Solutions Holdings, Inc., Mersen Group, Microchip Technology Inc., Morgan Advanced Materials plc, Navitas Semiconductor, Powerex Inc., Ranesas Electronics Corporation, Saint-Gobain Group, Semiconductor Components Industries, LLC, STMicroelectronics N.V., Texas Instruments Incorporated, and Washington Mills Electro Minerals Limited.

This research report categorizes the Silicon Carbide Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
  • Black Silicon Carbide
  • Green Silicon Carbide
• Grain Size
  • Coarse Grain
  • Fine Grain
  • Medium Grain
  • Micro Grain
• Manufacturing Process
  • Acheson Process
  • Chemical Vapor Deposition
  • Physical Vapor Transport
• End-Use Industry
  • Aerospace & Defense
  • Automotive
  • Ceramics
  • Electronics & Semiconductor
  • Energy & Power
  • Foundry

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?