Global Silicon Carbide (SiC) Market 2023-2027

Global Silicon Carbide (SiC) Market 2023-2027

Technavio has been monitoring the silicon carbide (SiC) market and is forecast to grow by 2.57 million t during 2022-2027, accelerating at a CAGR of 12.33% during the forecast period. Our report on the silicon carbide (SiC) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for power electronics, increase in demand for sic fibers in aerospace sector, and growing EV automotive industry.

Technavio's silicon carbide (SiC) market is segmented as below:

By Application

• Steel and energy
• Electronics
• Automotive
• Aerospace and defense
• Medical

By Product

• Black SiC
• Green SiC
• Others

By Geography

• APAC
• Europe
• North America
• South America
• Middle East and Africa

This study identifies the increasing use of nano sic powders as one of the prime reasons driving the silicon carbide (SiC) market growth during the next few years. Also, growing demand from steel and energy industries and power inverters for EVs will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the silicon carbide (SiC) market covers the following areas:

• Silicon carbide (SiC) market sizing
• Silicon carbide (SiC) market forecast
• Silicon carbide (SiC) market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading silicon carbide (SiC) market vendors that include AGSCO Corp., ASUZAC Inc., CeramTec GmbH, CoorsTek Inc., ESD SIC bv, ESK SiC GmbH, Gaddis Inc., Henan Yicheng New Energy Co. Ltd., Hongwu International Group Ltd., Imerys S.A., KYOCERA corp., Miller and Co., Morgan Advanced Materials Plc, Murugappa Group, Saint Gobain, SNAM Abrasives Pvt. Ltd., STMicroelectronics NV, Dow Inc., Tokai Carbon Co. Ltd., and Xiamen Powerway Advanced Material Co. Ltd. Also, the silicon carbide (SiC) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.