Carborundum Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1737
Carborundum Market size has significantly evolved with time it has gained popularity as a useful material in several end user applications. Advanced and high-tech technology has raised the product demand.
Growing steel, energy, aviation and automobile industry will drive carborundum market. Soaring steel processing and manufacturing industries demand will further support the industry growth. SiC semiconductors have started replacing pure silicon technology semiconductors, in turn, having a positive impact on the industry size.
Surging power and steel industry sector in several regions globally are likely to fuel the industry growth. Low level of tolerances in its applications and high precision required in manufacturing components may act as a restraint in the global market. Moreover, expensive manufacturing cost involved in producing SiC and development of gallium nitride may limit the future evolution of carborundum market.
Carborundum is a crystalline compound made up of silicon and carbon, it is sometimes referred as silicon carbide (SiC). It exhibits superior properties which includes high thermal conductivity, high strength, low density, low thermal expansion, hardness and high thermal shock resistivity. Owning such exceptional properties it is widely accepted as semiconductor over silicon semiconductors. It can be used in harsh conditions owing to these distinct properties.
Carborundum market is available in several types including green, black, coated, metallurgical, refractory and micro grit SiC. Among these types, black and green SiC leads carborundum market. Black SiC is likely to grow significantly owing to increasing abrasive wheels & refractory, ceramics and steel industry.
Carborundum is one of the toughest materials known and has excellent physical properties which makes it a useful material in various applications. Based on its applications, carborundum market is divided into steel & energy, automotive, military & defence, medical & healthcare, aerospace & aviation, electronics & semiconductors and fabrications chemical jewellery. Amongst, Steel and energy application sector dominate the industry. Increasing pharmaceuticals and health sector are likely to boost the industry size.
SiC having excellent physical properties, it is also used in abrasive cloth and paper products, grinding wheels. Electronics and semiconductor segment will further stimulate the product demand as they can provide high current density and are able to operate at high voltages and temperatures.
North America carborundum market is at a developing stage and will soar at moderate rate. Grown up industries in this region has increased the demand for SiC in the region. Also, medical and healthcare sector is another major indicator for augmenting the industry. Rising demand for advanced medical products in people will have a positive outlook on the industry demand. Military and defence industry will also foster the market as it is also used in making bullet proof jackets and composite armours.
Europe is the fastest growing region for carborundum market owing to presence of manufacturing and automobile industries. Automotive sector is a key reason for fuelling the industry as SiC is used in producing high-performance ceramic brakes and as an oil additive to reduce harmonics, friction and emissions in vehicles. Electrical segment may also raise the demand for SiC with rising applications in making semiconductors and electrical circuits in the region.
Asia Pacific is anticipated to witness a tremendous growth in carborundum market which can be attributed to its rapid industrialization and urbanization. It is extensively used as an abrasive material in producing drill tips, blades and abrasive surfaces, in turn, reinforcing the SiC industry. Emerging economies including India and China has witnessed intensification in energy and steel sector which will enlarge the product demand. MEA region holds a strong carborundum market with increasing infrastructural and energy & steel activities in the region.
Global carborundum market is competitive in nature owing to the presence of various market leaders. Prominent industry participants present worldwide includes CUMI Murugappa, Norstel AB, Snam Abrasives, Saint-Gobain Ceramics Materials and Gaddis engineered Materials. Several other industry players are ESk-SIC, ESD-SIC, Timcal, Entergis, Grindwell Norton and AGSCO.
Numerous vendors are involved in research and development process, in launching new products and are also adopting mergers & acquisitions strategy to compete in industry. In 2016, Infineon Technologies developed a new silicon carbide technology, ‘MOFSET’ which allows product designs to achieve precise level of power density and performance. Using this technology would help manufacturers in reducing weight & space, cooling requirements and system costs.
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