Silicon Carbide Market Analysis

Product (Black SiC, Green SiC)

The black SiC segment in the silicon carbide market is estimated to gain the largest revenue share of about 54% in the year 2035. The growth of the segment can be attributed to the rising manufacturing of iron and steel with the help of electric arc furnaces. On the other hand, the increasing use of black silicon carbide in wide applications such as grinding and metalworking is also expected to drive the growth of the segment. Black SiC ensures higher durability, versatility, and quality during SiC application.

Application (Energy & Power, Transportation, Steel & Metallurgy, Electronics & Optoelectronics, Space Research, Automotive, Telecommunication, Industrial)

Silicon carbide market from the electronics & optoelectronics segment is expected to garner a significant share of around 30% in the year 2035. The rising demand for electronic chips followed by higher expenditure on them is expected to augment the growth of the segment. In 2022, the total expenditure on chip equipment increased by 10%, amounting to around USD 98 billion, worldwide. Moreover, the growing infrastructure of semiconductor manufacturing companies is also expected to drive the segment’s growth.

Our in-depth analysis of the global market includes the following segments:

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

Frequently Asked Questions (FAQ)

Increasing demand for silicon carbide and higher investment in semiconductor industry are the major factors driving the market growth.

The market size of silicon carbide is anticipated to attain a CAGR of ~15% over the forecast period, i.e., 2023 â€“ 2035.

The major players in the market are AGSCO Corporation, SK Siltron, ESD-SIC b.v., Carborundum Universal Limited, Microchip Technology Inc., Coorstek, Inc., Entegris, Inc., Snam Abrasives Pvt. Ltd., Gaddis Engineered Materials, and Sana Optoelectronics.

The black SiC segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

Silicon Carbide Market Analysis