Silicon Carbide Market Overview:
The global silicon carbide (SiC) market is galvanizing pervasively, mainly due to the growing power electronics market. According to Market Research Future (MRFR) the SiC market holds great potential to expand further in the years to come, garnering extensive prominence. MRFR in its analysis, also states that the global Silicon Carbide market will perceive exponential growth by 2023, posting a staggering CAGR during the assessment period (2018-2023).
Silicon Carbide Market Key Players:
The global silicon carbide Market is led by some of the fervent players including;
• Dow Chemical Company (US)
• ESK SIC GmbH (Germany)
• Entegris Inc. (US)
• Carborundum Universal (India)
• Grindwell Norton (India)
• Norstel AB (Sweden)
• ROHM Co Ltd (Japan)
• Microsemi Corporation (US)
• Toshiba Corporation (Japan)
• Renesas Electronics Corporation (Japan)
Profiling them in its analysis MRFR finds their strategies helping them to keep ahead in the market.
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Silicon Carbide Market Segmentation:
The MRFR analysis is segmented into three key dynamics for the convenience of the report and enhanced understanding;
By Application:
Aerospace & Aviation, Steel & Energy, Automotive, Military & Defense, Medical & Healthcare, and Electronics & Semiconductors, among others.
By Product:
Black and Green Silicon Carbide, among others (refractory, metallurgical, coated, micro grit, and metallurgical briquettes).
By Region:
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The steel & energy segment accounts for the largest application of SiC, followed by the electronics, semiconductors and automobile segments.
The medical & healthcare segment is estimated to demonstrate the highest growth over forecast period.
Silicon Carbide Market Regional Analysis:
The Asia Pacific accounts for the leading market for silicon carbide due to the burgeoning industries such as steel & energy, electronics & semiconductors and most importantly automotive. India, Taiwan, and South Korea countries are accounting for the largest consumer of the product. The largest number of manufacturing plants and consumption in these countries is the key driving force for the market growth in the region.
Continuing with the same APAC is expected to retain its hegemony over the global market during the forecast period as well, followed by the North America region and Europe respectively. Additionally, countries such as India and China backed by the burgeoning manufacturing industry and the presence of major semiconductor manufacturing companies support the market growth in the region.
North America region accounts for the world’s second-largest market for silicon carbide, perceiving the huge demand from the automotive industry backed by the considerable demand for commercial vehicles in the region. Markets in the developed economies witness immense potential in the world of silicon carbide owing to their easy and cost-effective production processes.
Silicon Carbide Market Table of Content to be Continue…….,
Complete List of Tables and Figures @ https://www.marketresearchfuture.com/reports/silicon-carbide-market-1231
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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