The global silicon carbide (carborundum) market is valued at US$ 4.3 billion in 2023 and is forecasted to reach US$ 19 billion by the end of 2033, surging ahead at a CAGR of 16 % over the next ten years.
Silicon carbide, often known as carborundum, is a special combination made up of silicon and carbon. It occurs as the uncommon mineral moissanite and is one of the toughest materials on the market. Silicon carbide (SiC) is a stable and chemically inert compound that typically appears as a bluish-black, iridescent crystalline solid. However, during industrial manufacture, trace levels of iron or other impurities may be present. SiC is highly resistant to chemical reactions and possesses high thermal conductivity, high-temperature strength, and low thermal expansion.
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Key findings of the Silicon Carbide market study:
- The report provides a present market outlook on Silicon Carbide. Additionally, the Silicon Carbide market share is anticipated to grow with a CAGR of 16% in the forecast period.
- Regional breakdown of the Silicon Carbide market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Silicon Carbide vendors in detail.
- Region-wise and country-wise fragmentation of the Silicon Carbide market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Silicon Carbide market.
- Silicon Carbide price, market share, and Trends forecast for assessment period 2023-2033
What is the Impact of the Presence of Major Vendors in the United States?
The automotive, electronics, and energy sectors are just a few of the businesses that use silicon carbide on the American market. Due to the rising need for high-performance materials that provide excellent qualities including high hardness, wear resistance, and thermal conductivity, the market is expanding. Due to its resilience in the face of extreme temperatures and conditions, silicon carbide is being more widely used in a variety of applications.
The market is predicted to expand significantly in terms of revenue CAGR throughout the forecast period due to the existence of significant capital equipment vendors for semiconductors, who are crucial elements of the worldwide supply chain. The United States government just signed an executive order that contains a comprehensive examination.
Some of the key players in the carborundum market in the United States include Cree Inc., Dow Chemical Co., Saint-Gobain Ceramics Materials, and AGSCO Corporation, among others. The market is expected to witness significant growth in the coming years, driven by factors such as increasing investment in renewable energy, rising adoption of electric vehicles, and growing demand for consumer electronics.
Competitive landscape analysis
The silicon carbide market is being influenced by partnerships and strategic alliances. Major competitors in the silicon carbide market are focusing on building alliances and collaborating to cut costs and boost efficiency in order to be a leader in the sector. Additionally, they are extending their business into new areas and increasing their price tactics.
For illustration:
- Vitesco Technologies, a German electric vehicle business, and ROHM Semiconductor, a Japanese firm that manufactures and develops integrated circuits (ICs), semiconductor devices, and other electronic components, teamed together in June 2020. By using silicon carbide components from ROHM Semiconductor, Vitesco Technologies improves the energy efficiency of electric cars through this relationship.
Some of the leading companies operating in the market are :
- Saint Gobain Ceramics Materials GmbH
- Pacific Rundum
- Norstel AB
- Grindwell Norton Ltd
- Gaddis Engineered Materials
- Imerys
- Tokai Carbon Co., Ltd.
- Morgan Advanced Materials
- Navarro SIC
What insights does the Silicon Carbide report provide to the readers?
- Silicon Carbide fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each Silicon Carbide
- Various regulations imposed by the governments on the consumption of Silicon Carbide in detail.
Key Segments of Silicon Dioxide Industry Research
· By Type :
- Black SiC
- Green SiC
- Others (Coated, Metallurgical Briquettes, Micro Grit)
· By End-use Industry :
- Electronics & Semiconductors
- Steel & Energy
- Aerospace & Aviation
- Automotive
- Others (Medical & Healthcare, Military & Defense, IT & Telecommunication)
· By Region :
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
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