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Silicon Carbide Market Size
- Report ID: GMI6019
- Published Date: Jun 2023
- Report Format: PDF
Silicon Carbide Market Size
Silicon Carbide Market size was valued at over USD 800 million in 2022 and is anticipated to grow at a CAGR of over 18.5% between 2023 and 2032 owing to expansion in the industrial and manufacturing sectors. Silicon carbide is widely used in industries such as metalworking, abrasives, and refractories. With growing development in various industries, such as automobile, aerospace & metal, the demand for SiC-based materials for cutting, grinding, polishing & other applications will also increase.
Silicon carbide is a combination of silicon and carbon. It is known for its physical & chemical properties including thermal conductivity, high hardness, low thermal expansion, and excellent resistance to heat & corrosive environments.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Silicon Carbide Market Size in 2022: | USD 800 Million |
| Forecast Period: | 2022 to 2032 |
| Forecast Period 2022 to 2032 CAGR: | 18.5% |
| 2032 Value Projection: | USD 4.5 Billion |
| Historical Data for: | 2018 – 2022 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 201 |
| Segments covered: | Type, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Limited availability of raw materials can hinder market growth. Silicon carbide production relies on the availability of high-purity silicon and carbon precursors. Any interruption or restriction in the availability of these raw materials can affect supply and lead to price volatility, hampering market growth.
Frequently Asked Questions (FAQ) :
Silicon Carbide Market Scope
