Silicon carbide (SiC) Market 2022 Key Players Data And Industry Analysis

Silicon Carbide (SiC) Market is expected to observe an extensive expansion with a CAGR of 16.80% during the forecasted period of 2021 to 2030.

Silicon carbide (SiC), also familiar as carborundum, is a hard chemical compound consisting of sodium and carbon. It works as a semiconductor and is rarely found in nature as mineral moissanite. However, in the old days this has been mass produced as powder and crystal and used as an abrasive. Silicon carbide is used as a mulish raw material due to its ability of high heat resistance. Such products are widely used in linings of kilns, furnaces, and reactors in various metal industries such as iron, steel, aluminium, and other metals. The growth in production of above mentioned ferrous and non-ferrous metal industries is expected fuel the market growth.

Silicon carbide is a de-oxidizing agent used in steel industry as a raw material in refractors production. The silicon carbide is used for lining work because of its ability to resist erosion and dimensional stability. The silicon carbide is mostly used in electronic appliances such as LED's (Light emitting diodes) and detectors.

U.S. the main region with wide utilization of silicon carbide and has a stable market since 2017 to 2019 with larger penetration in domestic semiconductor. The wafer form of the product is widely used device in application. Washington Mills in U.S. is marked to be the highest key player for silicon carbide. However, the global contagion that struck in 2020 resulting into lockdowns that caused the closures of manufacturing units directly impacted new order bookings.

Moreover, the evolvement of SiC in steel production is expected to propel demand for refractors which in turn is anticipated to propel the growth. Furthermore, the utilization of SiC in electric and hybrid electric vehicles (EV / HEV), automobile charging, rail, motor drivers, power supplies, and uninterruptible power supplies (UPS) which is expected to drive the market.
Growing demand for Semiconductors and Electronics is anticipated to drive the market.

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Market Segmentation

1. Device Type
The market is further segmented on Device Type as
• SIC Discrete Device
 SIC Diode
 SIC MOSFET
• SIC Bare Die
• SIC Module

2. Wafer Size
• 2 Inch
• 4 Inch
• 6 Inch and above

3. Application
• Power Grid Devices
• Flexible AC Transmission Systems (FACTs)
• High-Voltage, Direct Current Systems (HVCDs)
• Power Supplies and Inverters
• RF Devices & Cellular Base Stations
• Lighting Control Systems
• Industrial Motor Drives
• Flame Detectors
• EV Motor Drives
• EV Charging Stations
• Electronic Combat Systems
• Wind Turbine
• Solar Power Systems
• Astronomical
• Pyrometer
• Nuclear, and
• Atomic Sciences

4. Vertical
• Energy & Power
• Automotive
• Renewable Power Generation
• Defence
• Power Electronics
• Telecommunication

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Geographical Analysis:

On the basis of regions, the market covers major five countries such as North America, Europe, Asia-pacific, Middle East and Africa and South America. Among these, Asia Pacific market is marked as dominant region with India, China, Japan, South Korea are major markets for Electric or Heavy Vehicles.

Market Key players:

Key players are considered to be the pillars of market. The key players comprise of investors and intermediaries. The global silicon carbide (SiC) market is highly competitive and has witnessed growing competition between vendors. The primary market players focus on the development of Global Silicon Carbide (SiC) market, while a few other recognized vendors are approaching integration with value-added products for electronic industry.
Some of the leading market player includes AGSCO Corp., Carborundum Universal Ltd., Washington Mills, Coorstek, Entegris, Inc., ESD-SIC b.v.,Snam Abrasives Pvt. Ltd.
Gaddis Engineered Materials, Grindwell Norton Ltd., SK Siltron Co., Ltd

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