Global Silicon Carbide Market Value Projected To Reach USD 2469.3 Million Registering A CAGR Of 5.22% By Forecast 2027

[akash Arjun pingale]

Global Silicon Carbide Market: is expected to reach US$ 2469.3 Mn. by 2027, at a CAGR of 5.22% during the forecast period.

Global Silicon Carbide Market Overview:

Silicon Carbide with a chemical formula of SiC is a very hard and synthetically produced crystalline compound of silicon and carbon. Silicon Carbide is also known as Carborundum. Generally, silicon carbide is largely utilized in industries for high-temperature materials, such as cutting tools, abrasives, and insulation for ovens. It is also used as a semiconductor device in the production of electronic components.

Silicon Carbide is one of the hardest synthetic materials with a Mohs hardness rating of 9. Silicon Carbide has a high thermal conductivity of 120-270 W/mK along with its high-temperature strength, low thermal expansion of 4.0x10^-6/°C, and high resistance to a chemical reaction makes silicon carbide valuable in the manufacture of bricks and other refractories.

Maximize Market Research's new report, Global Silicon Carbide Market 2021-2027, is useful for understanding the market's competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2021-2027). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Global Silicon Carbide market. 

Global Silicon Carbide Market Scope:

The research provides an analytical view of the business by studying several elements such as worldwide Global Silicon Carbide market growth, consumption volume, market trends, and company pricing structures throughout the projected period. The analysis includes extensive research to explore the market's complexities. The research provides an overview of the worldwide Global Silicon Carbide market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. This market has been examined in several areas based on productivity and manufacturing base.

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Global Silicon Carbide Market Segmentation: Based on the Application, the Silicon Carbide Market is segmented into Steel, Automotive, Aerospace, Electrical & Electronics, and Military & Defense. The Electrical & Electronics segment held the largest market share, accounting for 29% in 2020. The segment growth is attributed to the growing demand for power modules in semiconductors. SiC semiconductor exhibits high thermal conductivity, larger critical electric field, and wider bandgap, which fuel the use of SiC semiconductors in Electrical & Electronics application. According to the Department of Electronics and Information Technology of India, it manufactures more than 2,000 semiconductors every year and it is expected to increase during the forecast period. The increasing production of semiconductors is expected to uplift the SiC market growth during the forecast period for this segment.

Global Silicon Carbide Market Key Players: 

• Agsco Corporation
• Carborundum Universal Limited
• Cree, Inc.
• Entegris, Inc.
• Fuji Electric Co., Ltd.
• General Electric Company
• GeneSiC Semiconductor Inc.
• Grindwell Norton Ltd.
• II-VI Incorporated
• Infineon Technologies AG
• Microchip Technology Incorporated
• Powerex Inc.
• Renesas Electronics Corporation
• ROHM CO., LTD
• SEMIKRON International GmbH
• Snam Abrasives Pvt. Ltd.
• STMicroelectronics N.V.
• The Dow Chemical Company
• Toshiba Corporation
• United Silicon Carbide, Inc.
• Versum Materials, Inc.

It then discusses the top competitors in the worldwide Global Silicon Carbide market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. In addition, the research assesses capacity utilization, raw material sources, import-export, the value chain, price structure, and the industrial supply chain. The following players are featured in this report:

 

Global Silicon Carbide Market Regional Analysis:

The report has analyzed the Global Silicon Carbide market in the following regions:

• America, North (the United States, Canada, and Mexico)
• European Union (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
• Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
• Latin America (Brazil, Argentina, Colombia, and Rest of South America)
• Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)

The research provides comprehensive insights into numerous development opportunities and challenges in the regions mentioned above based on various types of goods, applications, end-users, and countries, among others. The research also includes key features of the worldwide Global Silicon Carbide market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.

COVID-19 Impact Analysis on Global Silicon Carbide Market:

COVID-19 is an unprecedented worldwide public health emergency that has impacted practically every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, projections, and predictions based on the influence of COVID-19 on the market.

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Key Questions Answered in the Global Silicon Carbide Market Report are:

• Which are the major companies in the Global Silicon Carbide market?

• Which is the potential market for Global Silicon Carbide in terms of the region?

• Which application area of Global Silicon Carbide is expected to grow at a significant rate in the market in the next 5 years?

• What are the opportunities for new market entrants?

• What will be the Global Silicon Carbide market size by 2027?

• What are the growth prospects for the Global Silicon Carbide market?

• What is the base year considered in the Global Silicon Carbide market report?

• Which region holds the largest market share in the Global Silicon Carbide market?

• What factors are anticipated to drive the Global Silicon Carbide market?

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Maximize Market Research performs business-to-business and business-to-consumer market surveys on technological advances and opportunities in the Pharmaceutical, Electronics Telecommunications, Industrial IoT, Food Nutrition, Aeronautics Automobile, and other industrial sectors. Our industry experts evaluate strategic options, develop appropriate action plans, and aid firms in reaching critical bottom-line decisions. We can create productive interactions with our clientele thanks to our comprehensive market knowledge repository and industry expertise.

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