Dublin, July 06, 2022 (GLOBE NEWSWIRE) — The “Silicon Carbide – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Silicon Carbide Market to Reach US$2.2 Billion by the Year 2026
Tthe global market for Silicon Carbide estimated at US$850 Million in the year 2020, is projected to reach a revised size of US$2.2 Billion by 2026, growing at a CAGR of 17.5%.
Silicon carbide is witnessing rising adoption across a broad array of industrial applications due to its superior electrical, thermal and mechanical properties in comparison to standard silicon. Growth in the global market is on account of expansion of power electronics and recovery in steel industry, high uptake of SiC devices and increasing investments to boost silicon carbide production.
The market is receiving a strong growth stimulus from increasing adoption of SiC devices in the field of power electronics and ongoing efforts by stakeholders to bolster silicon carbide production. In addition, increasing uptake of SiC devices in the power device and automotive industries coupled with rising popularity of electric and hybrid electric vehicles is bound to favor the market growth.
The unabated expansion of the global steel industry is poised to create strong demand for silicon carbide represents a key raw material for refractories and an effective deoxidizing agent for the steel industry. In addition, increasing focus on renewable energy is expected to catalyze adoption of silicon carbide semiconductors owing to their high speed and superior toughness in comparison to silicon.
The U.S. Market is Estimated at $148.5 Million in 2021, While China is Forecast to Reach $721.9 Million by 2026
The Silicon Carbide market in the U.S. is estimated at US$148.5 Million in the year 2021. The country currently accounts for a 15.5% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$721.9 Million in the year 2026 trailing a CAGR of 20.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.6% and 14.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.9% CAGR while Rest of European market (as defined in the study) will reach US$77.5 Million by the end of the analysis period.
Electrical & Electronics (End-Use) Segment to Reach $754.5 Million by 2026
The electrical & electronics segment is estimated to post a fast revenue growth rate due to increasing adoption of power modules in advanced semiconductor devices. Semiconductors built on silicon carbide hold a wider band-gap, superior thermal conductivity and enhanced critical electric field. Future expansion of the segment is anticipated to be facilitated by rising production of next-generation semiconductor devices for different industrial applications. .
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Focus on Power Electronics Drives Uptake of SiC
- Rising Demand for Wide-Bandgap Materials Bodes Well
- Automotive Industry: A Major Market for SiC
- Incessant Drift Towards E-Mobility Drives Uptake
- SiC MOSFETs Gaining Traction in Automotive Sector
- Select Automotive Models & Platforms with SiC MOSFET Inverter Technology
- EVs and Opportunities: Past, Present and Future
- Rising Chip Lead Times Hurt Auto OEMs: Global Auto Chip Lead Times (In Weeks) for Years 2017 Through 2021
- Growth in 5G Adoption and Prospects Ahead
- SiC Low Costs Drive Application as Abrasives
- Knoop Hardness of Tooling Materials such as Diamond, Cubic Boron Nitride, Vanadium Carbide, Silicon Carbide, Aluminum Oxide, Tungsten Carbide, Hard Steel HRC 65 and Soft Steel HRB 85 – (in x 103)
- SiC to Experience Improved Demand as Material Engineering Gains Traction in Aerospace
- Composites Make Up for About Half of Total Weight of Modern Aircraft: Percentage Breakdown of Structural Weight Composition by Material for Airbus 350XWB and Boeing 787
- Aerospace Industry Limps Back Onto a Long Road to Recovery, Brightening the Outlook for Aerospace Materials
- Aerospace Industry Recovery to Strengthen by 2022
- Steel: An Important End-Use Market for SiC
- Recovery in Steel Demand Sends Good Vibes for Silicon Carbide Market
- Global Steel Demand (2021): Percentage Breakdown of Consumption by Product Shape
- SiC as a Refractory Material
- Rising Interest in Graphene Drives Prospects
- SiC Gains as Solar Power Becomes Indispensable to Global Energy Mix
- Growing Investments in Microgrid Systems Drive SiC Components
- SiC Seeks Role in Military & Defense Applications
- R&D Developments to Widen Market Prospects
- Nanoscale SiC Powder in Demand
- Silicon Carbide Offers Promise to Avoid False Negatives in COVID-19 Tests
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
- AGSCO Corporation
- Carborundum Universal Limited
- Entegris, Inc.
- ESK-SIC GmbH
- Fuji Electric Co., Ltd.
- Grindwell Norton Limited
- Infineon Technologies AG
- Microchip Technology Inc.
- Renesas Electronics Corporation
- ROHM Co., Ltd.
- Saint Gobain Ceramic Materials GmbH
- Semiconductor Components Industries, LLC
- STMicroelectronics AG
- The General Electric Company
- Toshiba Corporation
For more information about this report visit https://www.researchandmarkets.com/r/6mv3w3