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Silicon Carbide Market growing at CAGR of 10.64%, Driven by EVs, Renewable Energy, Asia-Pacific currently leads | Says Mordor Intelligence
Silicon Carbide Market Size
The global silicon carbide market [https://www.mordorintelligence.com/industry-reports/silicon-carbide-market?utm_source=abnewswire] size estimated at USD 4.82 billion in 2025 and expected to reach USD 7.99 billion by 2030, growing at a CAGR of 10.64% during the forecast period 2025-2030. Asia-Pacific currently leads the market, accounting for over half of global revenue in 2024, while also showing the fastest growth. The increasing use of silicon carbide in electric vehicles (EVs), renewable-energy inverters, and high-efficiency data centers is driving demand worldwide.
Emerging Trends in the Silicon Carbide Market
Rising Demand in Power Electronics Electric vehicle manufacturers are increasingly transitioning to 800 V drivetrains, requiring SiC MOSFETs capable of high-frequency switching. Products such as onsemi's EliteSiC M3e and Infineon's CoolSiC 1200 V devices are enabling EVs to operate with higher efficiency, reduced energy losses, and better thermal performance. Data centers are also benefiting from SiC rectifiers, which improve conversion efficiency up to 98%, helping reduce cooling costs by up to 40%.
Growth in Renewable Energy Applications Silicon carbide is increasingly used in solar and wind energy systems due to its ability to handle high temperatures and provide superior efficiency. For example, Fraunhofer ISE's SiC transistors achieve 98.4% efficiency in solar inverters and reduce energy losses by 70% compared to traditional silicon devices. In wind turbines, SiC's thermal conductivity enables operation at rotor temperatures of 200 degrees C without additional cooling
Use in High-Temperature and Aerospace Applications SiC ceramics are being adopted in extreme-temperature environments, such as NASA's hypersonic testbeds and industrial furnaces, due to their strength retention at temperatures exceeding 1,600 degrees C. Petrochemical and chemical reactors also utilize SiC tubes for improved corrosion resistance and longer lifespans.
Government Support for Semiconductor Fabrication Government incentives play a significant role in silicon carbide market growth. The U.S. CHIPS Act allocated USD 750 million to Wolfspeed and USD 225 million to Bosch, supporting domestic wafer capacity expansion. In Europe, the Chips Act invested EUR 5 billion in STMicroelectronics' fabrication plant in Italy, ensuring local supply security and encouraging adoption of wide-bandgap semiconductor technology.
Read the full report and access market snapshots that include both global views and Japan-specific analysis: [https://www.mordorintelligence.com/industry-reports/silicon-carbide-market?utm_source=abnewswire]
Silicon Carbide Market Segmentation
By Product Type
* Black Silicon Carbide - accounted for 42.18% of 2024 revenue
* Green Silicon Carbide - projected to grow at 13.51% CAGR
* Other Silicon Carbide Products
By Application
* Electronics and Semiconductors - largest share at 34.66% in 2024
* Automotive - expected to grow at 12.62% CAGR through 2030
* Steel Manufacturing
* Energy and Power Systems
* Aerospace and Defense
* Other Applications
By Geography
* Asia-Pacific - largest market and fastest-growing region
* North America
* Europe
* South America
* Middle East and Africa
Browse Full Details on Key Players: [https://www.mordorintelligence.com/industry-reports/silicon-carbide-market/companies?utm_source=abnewswire]
Silicon Carbide Market Companies
* Blasch Precision Ceramics
* Christy Refactories
* CoorsTek Inc.
* CUMI EMD
* Elkem ASA
* ESD-SIC
* Imerys
* Infineon Technologies AG
* Kymera International
* Morgan Advanced Materials
* Navarro SiC
* NGK INSULATORS
* ROHM Co.
* Saint-Gobain
* Schunk Ingenieurkeramik
* Semiconductor Components Industries
* Semiconductor Components Industries
* STMicroelectronics
* Tateho Chemical
* Washington Mills
* Wolfspeed
Conclusion
The silicon carbide market is set to expand steadily over the next decade, fueled by strong demand from electric vehicles, renewable-energy systems, high-efficiency data centers, and aerospace applications. Government support in semiconductor manufacturing and wide-bandgap technology adoption will continue to drive growth, particularly in North America and Europe, while Asia-Pacific maintains its leadership in scale and production.
With advancements in wafer technology, including the transition to 200 mm substrates, the silicon carbide market is expected to offer improved cost efficiency and higher production output. As industries continue to seek energy-efficient, high-performance materials, silicon carbide is likely to become a critical component in modern electronics, automotive systems, and high-temperature industrial processes.
Explore Related Reports from Mordor Database:
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About Mordor Intelligence
Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.
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