Silicon Carbide Market Size & Share, by Device (SiC Module, SiC Discreet Device); Product (Black SiC, Green SiC); Wafer Size (Up to 10 MM, More Than 150 MM); Application (Energy & Power, Transportation, Steel & Metallurgy, Space Research, Electronics & Optoelectronics, Automotive, Telecommunication, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

Growth Drivers

• Rising Preference of Silicon Carbide Over Silicon – The thermal conductivity of silicon carbide is three times more than that of silicon, moreover, the dielectric breakdown fil strength of SiC is around 10 times better than silicon. It means that a smaller size of SiC better voltage rating than a larger size of silicon.
• Growing Development of Silicon-Based Technologies– The need to achieve high performance of silicon devices will increase its production by six times.  This will also increase the technological advancement of silicon carbide and will also drive its demand.
• Higher Adoption of Electric Vehicles- In the world, the adoption of electric vehicles has increased by around 13%. Moreover, it is expected that over 250 million EVs will be deployed by 2030. SiC-based power modules have improved efficiency and performance, making them essential for next-generation autos.  Moreover, SiC conductors also support faster charging times for electric vehicles.

Challenges

• High Cost of Production- High-quality silicon carbide materials are manufactured using complex techniques that can result in somewhat high production costs when compared to standard silicon-based materials. It is still difficult to reduce production costs while preserving quality.
• Limited Availability of High-Purity Silicon and Carbon
• Complexity in Packaging the SiC Devices