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Silicon Carbide Market Trends

Report ID: GMI6019
Published Date: Jun 2023
Report Format: PDF

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Silicon Carbide Market Trends

One of the prominent trends in the silicon carbide industry is the development of advanced manufacturing processes & technologies. There are ongoing efforts to improve the quality, yield, and cost-effectiveness of SiC wafers & devices. Innovations in SiC epitaxy, wafer bonding, and device packaging techniques are facilitating the production of large & high-quality SiC wafers. These advancements are expected to enhance the scalability and commercial viability of silicon carbide devices, thereby increasing their accessibility across a wide range of industries and applications. Furthermore, there is a rising focus on integrating silicon carbide with other advanced materials & technologies.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

In 2022, the global market size for silicon carbide was valued at more than USD 800 million and will grow at over 18.5% CAGR from 2023 to 2032 on account of the rapid expansion of the manufacturing and industrial sector globally.

The silicon carbide industry size from the electronics & optoelectronics application segment reached more than USD 200 million in 2022, attributed to the superior electrical properties of silicon carbide.

Asia Pacific market for silicon carbide accumulated 30% market share in 2022, driven by favorable government initiatives focused on encouraging the adoption of electric & renewable energy vehicles in the region.

Notable silicon carbide industry players include Gaddis Engineered Materials, IMERYS Mineral (India) Pvt. Ltd, Saint-Gobain S.A, SK Siltron Co., Ltd., Grindwell Norton Ltd, Morgan Advanced Materials, and Schunk Ingenieurkeramik GmbH, among others.