Silicon Carbide Ceramics Market Share 2019, Growth, Size, Trends, Leading Company Analysis and Key Country Forecast to 2023

Synopsis of Silicon Carbide (SiC) Ceramics Market

Silicon Carbide Ceramics are one of the toughest types of ceramics categorized under advanced ceramics. It is not only the toughest but the hardest ceramic material and shows the behavior of diamond and has excellent thermal conductivity, low thermal expansion and excellent resistance to acid. Moreover, it is the most corrosion-resistant ceramic which has made its usage favorable in automotive and electronic & electrical and machine manufacturing industries.

According to the MRFR analysis, vast industrial adoption of advanced ceramics is considered as a prime factor influencing the growth of Silicon Carbide Ceramics Market. Silicon Carbide Ceramics exhibits excellent properties which are suitable for numerous industrial uses, resulting in its increased adoption, thereby driving global demand. Growth in this market is characterized by high demand for Silicon Carbide from major end-use industries including electronics & electrical as well as automotive. High hardness associated with Sic Ceramics is favorable for the production of durable automotive parts as well as high-end semiconductors in electrical & electrical industry. As per the OICA, automotive production across the globe is noted at 4.5% CAGR as of 2016, and it is expected to further grow significantly due to consistent demand. The Asia Pacific expected to remain the most prominent market due to huge automate production in China as well as largest electronics & electrical base in Japan.

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Intended Audience

Silicon Carbide Ceramics Manufacturers

Traders and Distributors of Silicon Carbide Ceramics manufacturers

Production process industries

Potential investors

Raw material suppliers

Key Findings

Global Silicon Carbide Ceramics Market is projected to reach USD 7,474.1 million by 2023 at a CAGR of 6.45%. As of 2016, Asia Pacific emerged as the global leader in this market and has acquired 39% of the global share, expanding at dynamic CAGR of 7.95%. China was the major revenue generating a country-level market in Asia Pacific region and has generated overall revenue of USD 796.1 million as of 2016. On the basis of the type, pressure sintered Silicon Carbide Ceramics accounted for largest market volume, by expanding at a CAGR of 7.03%. Based on the application, electronics & electrical industry dominated the global market thereby accounting for the largest share of 28% followed by automotive at 22.2%.

Regional Analysis

The Global Silicon Carbide Ceramics Market has been spanned across five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific was the largest market in 2016 and has acquired largest share of 39% at the highest CAGR of 7.95%. Massive steel production, largest automotive demand & production, and strong electrical & electronics base are key factors behind the growth of this region. Additionally, increasing adoption of consumer electronics devices has provided additional scope for semiconductors, which is again complementing the regional demand of silicon carbide ceramics. China is the most promising market in this region and has generated largest revenue of USD 796.1 million at a CAGR of 8.98%. Following China, India is another key regional market complementing the regional demand. Electronic production in Taiwan is seen growing at a lucrative rate and, therefore, the country is likely to uncover healthy gains over the assessment period.

North America was the second largest Silicon Carbide Ceramics Market. Growth in this region is credible to the increasing mining activities and increasing demand for consumer and commercial vehicles. Although, established aerospace & defense sector is the major source of Sic Ceramic demand in this region. Presence of large aerospace and defense companies in North America has also availed additional demand. North America acquired 26% of regional shares in 2016, expanding at stable CAGR of 4.66%. The U.S. was the major growth driving the market in this region, which has shown significant growth thereby, expanding at 5.23% CAGR. Europe, on the other hand, growing at relatively slower pace, due to the economic slowdown in some of the economies such as the U.K and Slovakia. The region has accounted for 18.6% global share, expanding at 5.23% as of 2016. Germany, Russia, and Belgium are the key growth driving markets in Europe.

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