Silicon Carbide Market Size and Growth Rate:

“The Global Silicon Carbide Market was valued around US$ 2.7 Bn by 2018 and growing at a significant CAGR of 16.2% over next seven years 2019-2025 due to increasing demand for minimally invasive surgeries”.

Silicon Carbide Market Growth Drivers and Restraints:

Growing demand for energy-efficient battery-powered portable devices, rising application of SIC devices in RF and cellular base station, increasing demand for motor drives is lining SIC-based devices and upsurge in the demand for consumer electronics & wireless communications are some key factors fueling the market growth. However, factors such as availability of the substitute products like gallium nitride (GaN) and high costs are hampering the market growth.

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Black SiC Dominate the Global Silicon Carbide Market

Based on product, global silicon carbide market segmented into black SiC, green SiC and others. Black SiC held considerable market share during forecast period. Black silicon carbide is produced at high temperature in an electric resistance type furnace with quarts sand and petroleum coke as its key raw materials. Its hardness is amongst fused alumina and synthetic diamond. It is hard and sharp and has electrical and heat conductivity in some degree. The abrasives made of it are appropriate for working on cast iron, non-ferrous metal, rock, leather, rubber, etc. It is also broadly used as refractory material and metallurgical additive.
North America Leads the Global Silicon Carbide market
PBI’s global Silicon Carbide market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. North America accounted for larger revenue share in global silicon carbide market with considerable CAGR. The growth in this region is due to growth in steel industry, increasing demand for commercial vehicles and improvement in communication & wireless technology. U.S is the major contributor for the growth of the market in the region. Asia Pacific held substantial market share during predicted period as there is rising industrial activities, rapidly growing industries, such as automotive and electronics in the region and the presence of emerging countries like India and China.

Strategic Agreements are the key strategies adopted by market players

Global Silicon Carbide market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, In January 8, 2019, Saint-Gobain made an agreement with private equity firm OpenGate Capital to sell the silicon carbide business of Saint-Gobain to Opengate Capital.

Key Player Analysis of Silicon Carbide Market:

Key player’s profiles in the report are Infineon Technologies AG, Cree Inc. (Wolfspeed), Rohm Semiconductor, Stmicroelectronics N.V., Fuji Electric Co., Ltd., On Semiconductor, General Electric, United Silicon Carbide, Inc., Genesic Semiconductor Inc., Renesas Electronics Corporation, Monolith Semiconductor Inc., Ascatron AB, Pilegrowth Tech S.R.L., Graphensic AB and Basic 3C, Inc.

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Detailed Segmentation of Silicon Carbide Market:

By Product
o Black SiC
o Green SiC
o Others

By Device
o SiC Discrete Devices
• SiC MOSFET
• SiC Diode
• SiC Module
• Thyristors
• Others
o SiC Bare Die

By Crystal Structure
o Zinc Blende (3C-SIC)
o Wurtzite (4H-SIC)
o Wurtzite (6H-SIC)
o Rhombohedral (15R-SIC)

By Application
o Power Grid Device
o RF Device & Cellular Base Station
o High-Voltage, Direct Current (HVCD)
o Flexible Ac Transmission Systems (FACTS)
o Lighting Control
o Power Supply and Inverter
o Flame Detector
o Industrial Motor Drive
o EV Motor Drive
o Flame Detector
o Electronic Combat System
o Solar Energy
o Wind Energy
o Others

By End-User
o Energy & Power
o Automotive
o Power Electronics & Telecommunication
o Defense
o Others

By Geography
o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)

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