Global Silicon Carbide Market Size to Reach USD 9.18 Billion in 2032 | Emergen Research

Vancouver, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global silicon carbide market size was USD 3.10 Billion in 2022 and is expected to register a revenue CAGR of 11.6% during the forecast period. This market shows no signs of slowing down. Several key factors are driving this growth, including the rising demand for silicon carbide semiconductor components, the adoption of energy-efficient solutions like electric vehicles, increased investments, and advancements in infrastructure processes. Silicon carbide, a wide bandgap semiconductor, is transforming power electronics due to its unique combination of physical and electronic properties. It boasts high hardness, superior thermal conductivity, low thermal expansion, and excellent chemical properties. Its purity is essential for industries where even small impurities can affect performance. Silicon carbide has a wide range of applications, from abrasives and refractories to electronics, automotive, metallurgical, and aerospace.

The growing demand for silicon carbide semiconductor components is attributed to their ability to handle high-power and high-frequency applications with low losses and high efficiency. This makes them ideal for industries such as electric vehicles, renewable energy, and 5G technology. One of the most significant developments in the market is BorgWarner's integration of STMicroelectronics' silicon carbide technology into the Viper power module for Volvo Cars' next-generation electric vehicles. This partnership reflects the increasing importance of silicon carbide in meeting the demand for semiconductors in the automotive industry.

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While the silicon carbide market is thriving, it faces challenges such as high production costs and raw material availability. The material's brittleness can be a hurdle in manufacturing small components for semiconductor devices. Additionally, the growing use of gallium nitride as a substitute in power module applications presents competition.

Type: The black silicon carbide segment dominated the market in 2022 due to its use in manufacturing iron and steel through electric arc furnaces. Its hardness and thermal conductivity make it valuable in various applications, including cutting tools, automobiles, and aerospace.

Wafer Size: Silicon carbide wafers larger than 150 mm held the largest market share in 2022, offering cost savings and efficiency, particularly in consumer electronics and power electronics production.

Application: The transportation segment led the market in 2022, with silicon carbide's adoption in engine components and brake systems, enhancing durability and stability.

End-Use: The electronics and semiconductors segment is expected to grow rapidly, driven by the demand for efficient electronic chips and the material's unique properties.

Asia Pacific: This region dominated the market in 2022, especially in countries like China, Japan, South Korea, and India. The Asia Pacific semiconductor market has witnessed significant growth, driven by advanced technologies and processes.

North America: The United States and Canada are experiencing rising demand for semiconductors, contributing to the market's fast growth rate.

Europe: The UK, Germany, and France have seen growing applications of silicon carbide in the semiconductor industry and automotive sector, boosting the market in the region.

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Scope of Research

Major Companies and Competitive Landscape

The global silicon carbide market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective silicon carbide. Some of the major companies included in the global silicon carbide market report are:

• ADSCO Corp.
• CUMI
• IMERYS S.A.
• Coorstek Inc.
• Enterrgris Inc.
• ESD SIC b.v.
• Gaddis Enginnered Materials
• Grindwell Norton Ltd.
• Norstel AB
• Snam Abrasives Pvt. Ltd.
• Reneas Electronics Corporation
• ROHM Co. Ltd
• Microsemi
• Toshiba Corporation
• Infineon Technologies
• Fuji Electric Co. Ltd.
• Solitron Devices Inc.
• Coherent Corp.
• Sk Siltron Co. Ltd
• Tokai Carbon Co. Ltd

Strategic Development

• On June 19, 2023, Vitesco Technologies, a manufacturer of cutting-edge drive technologies and electrification solutions, acquired strategically important production capacity of energy-efficient silicon carbide power semiconductors through a long-term supply partnership with ROHM. The development partnership with manufacturer ROHM, which began in 2020, laid the foundation for the delivery partnership currently concluded in Regensburg. Vitesco Technologies' advanced inverters, which integrate Rohm SiC chips, have been adopted and used in electric vehicle powertrains. Vitesco Technologies plans to start delivering its first series of projects as early as 2024.
• On May 3, 2023, Infineon Technologies announced that it will expand its silicon carbide. They have signed a contract with supplier SICC. Under this agreement, SICC will supply the Germany-based semiconductor manufacturer with competitive, high-quality 150 mm wafers and spheres for SiC semiconductor manufacturing, thereby increasing its anticipated double-digit share of demand over the long term. will be covered. The contract will focus on 150 mm SiC material in the first phase, but the supply of SICC-SiC material will also support Infineon's transition to 200 mm wafer diameter.

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For the purpose of this report, Emergen Research has segmented the global silicon carbide market on the basis of type, wafer size, application, end-use, and region:

• Type Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)

• • Black Silicon Carbide
  • Green Silicon Carbide

• Wafer Size Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)

• • Up to 150 MM
  •  > 150 MM

• Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)

• • Energy and vehicles
  • Transportation
  • Consumer Appliances
  • Medicines
  • Led Lights and Transistors
  • Others

• End-Use Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)

• • Automotives
  • Aerospace and aviation
  • Military and Defense
  • Electronics and Semi-Conductors
  • Medical and Healthcare
  • Others

• Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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