Silicon Carbide Market 2025-2032: Industry Outlook, Trends Analysis, New Opportunities, and Prospects

The silicon carbide industry has witnessed significant advancements driven by its critical applications in electronics, automotive, and energy sectors. Its superior thermal conductivity and chemical stability have increasingly positioned it as a material of choice for high-performance semiconductors and abrasives. The Global Silicon Carbide Market size is estimated to be valued at USD 10.29 Billion in 2025 and is expected to reach USD 15.68 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2025 to 2032. This market growth is underpinned by expanding electric vehicle production, industrial automation, and renewable energy adoption which fuels the demand for durable and efficient materials like silicon carbide. Market revenue and market share trends indicate a robust upward trajectory supported by innovations in manufacturing processes and strategic investments in emerging regions.

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➤Actionable Insights

The increasing production capacity of silicon carbide wafers has been a pivotal factor influencing market size. In 2024, global wafer output saw a 12% rise compared to 2023, driven by expansion in Asia-Pacific manufacturing hubs. This capacity growth supports broader adoption in power electronics, reflecting a 15% year-over-year increase in power device shipments utilizing silicon carbide substrates.
Pricing dynamics in the silicon carbide market reveal a steady decline in raw material costs, facilitating wider industrial application. In 2025, silicon carbide powder prices dropped by 8%, encouraging manufacturers to explore niche applications such as high-frequency 5G devices and electric vehicle (EV) inverters.
Import volumes of silicon carbide from key producing countries surged by 10.5% in 2024, indicating heightened demand in end-user sectors. Automotive and renewable energy industries accounted for over 40% of new silicon carbide imports, highlighting the material's strategic significance in these segments.
Emerging use cases in semiconductor and abrasive applications have been critical demand-side drivers. By 2025, the deployment of silicon carbide in EV powertrain modules increased by 18%, while abrasive applications in metal processing industries expanded by approximately 11%, underlining the product's versatility and market scope.

➤Market Segment and Regional Coverage

By Product Type: Silicon Carbide Powder, Silicon Carbide Wafers, Silicon Carbide Fibers, Silicon Carbide Ceramics, and Others.
By Application: Power Electronics, Abrasives, Automotive, Renewable Energy, Electronics & Semiconductors, and Others.
By End-User Industry: Automotive, Electrical & Electronics, Industrial Manufacturing, Energy & Power, and Others.

Regional and Country Analysis:

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Benelux, Denmark, Norway, Sweden, Russia, and Rest of Europe
Asia Pacific: China, Taiwan, India, Japan, South Korea, Indonesia, Malaysia, Philippines, Singapore, Australia, and Rest of Asia Pacific
Middle East & Africa: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Israel, South Africa, North Africa, Central Africa, and Rest of MEA

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➤Key Players

AGSCO Corporation
● Carborundum Universal Ltd.
● Entegris Inc.
● ESD-SIC b.v.
● ESK-SIC GmbH
● Gaddis Engineered Materials
● Grindwell Norton Ltd.
● Norstel AB
● Saint-Gobain Ceramics Materials GmbH
● Snam Abrasives Pvt. Ltd

Competitive strategies among market companies include strategic partnerships and capacity expansions. For instance, AGSCO Corporation recently entered a joint venture with a leading semiconductor manufacturer to scale wafer production, resulting in a 20% increase in output capacity in 2024. Similarly, Carborundum Universal Ltd. implemented advanced ceramic processing technologies that reduced production costs by 7%, enhancing its pricing competitiveness in the abrasives segment.

➤Growth factors

The growth of the silicon carbide market is primarily driven by rising demand in electric vehicles and renewable energy sectors. In 2024, electric vehicle production increased by 25%, significantly boosting silicon carbide usage in power electronics. Additionally, solar energy installations using silicon carbide-based inverters grew by 30%, further propelling market revenue and industry trends. These factors are complemented by ongoing research investments focusing on cost reduction and material efficiency, enhancing overall market growth strategies.

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➤ Market Trends

A prominent market trend is the integration of silicon carbide in next-generation power devices, which enhances energy efficiency and thermal management. Recent data from 2025 indicates a 22% adoption rate increase in silicon carbide MOSFETs across automotive and industrial sectors. Another trend is the regional shift towards Asia Pacific, where robust industry growth and government subsidies for EV manufacturing have led to a 35% surge in silicon carbide consumption in 2024. Additionally, sustainability-driven innovations have accelerated recycling and reuse practices within the silicon carbide value chain.

➤Market Opportunities

In the Power Electronics segment, the growing demand for high-efficiency inverters in electric vehicles presents a lucrative opportunity, with market revenue expected to grow by over 18% annually through 2032.
Within Abrasives, expanding industrial manufacturing activities in emerging economies are anticipated to increase silicon carbide consumption by 12% in the next five years, driven by metal processing advancements.
The Renewable Energy application segment benefits from increasing solar and wind power installations, with silicon carbide-based components projected to capture a 20% larger market share by 2030.
Regionally, Asia Pacific offers significant growth potential due to rapid industrialization and infrastructural developments, accounting for nearly 40% of total silicon carbide market share in 2024 and expected to grow at a CAGR of 7.5%.

❓ Frequently Asked Questions

◘ Who are the dominant players in the Silicon Carbide Market?
The dominant players include AGSCO Corporation, Carborundum Universal Ltd., Entegris Inc., ESD-SIC b.v., and Saint-Gobain Ceramics Materials GmbH, all of which have expanded production capacities and implemented strategic growth initiatives in recent years.

◘ What will be the size of the Silicon Carbide Market in the coming years?
The silicon carbide market size is projected to grow from USD 10.29 Billion in 2025 to USD 15.68 Billion by 2032, at a CAGR of 6.2%, supported by rising demand in automotive and renewable energy sectors.

◘ Which end users industry has the largest growth opportunity?
Electric vehicles and renewable energy segments represent the largest growth opportunities, with the power electronics application experiencing rapid adoption due to the material's efficiency and durability.

◘ How will market development trends evolve over the next five years?
Market trends indicate a shift toward Asia Pacific dominance, increased adoption of silicon carbide in semiconductors and power devices, and sustainability-focused innovations enhancing market growth.

◘ What is the nature of the competitive landscape and challenges in the Silicon Carbide Market?
The competitive landscape is characterized by capacity expansions, technological innovations, and strategic partnerships, with challenges including raw material availability and high production costs influencing market dynamics.

◘ What go-to-market strategies are commonly adopted in the Silicon Carbide Market?
Market companies often pursue joint ventures, technology upgrades, and regional manufacturing expansions to optimize costs and meet growing demand, enabling stronger market positioning and revenue growth

Author of this marketing PR:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from Openpr her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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