Dublin, May 24, 2021 (GLOBE NEWSWIRE) -- The "Silicon Carbide Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type and End-Use Industry" report has been added to ResearchAndMarkets.com's offering.
The silicon carbide market was valued at US$ 712.85 million in 2019 and is projected to reach US$ 1,810.56 million by 2027; it is expected to grow at a CAGR of 12.5% from 2019 to 2027.
Silicon carbide, also known as carborundum, is a semiconductor material widely used in electronics and semiconductor industries. The physical hardness of silicon carbide makes it fit for use as an abrasive in processes such as honing, water jet cutting, grinding, and sand blasting.
It is also used in the components of pumps used to drill and extract the oil in oilfield applications. Rising demand for silicon carbide in various application industries has led to an increase in the investments by manufacturers, governments, and research institutes in its production.
Based on type, the silicon carbide market has been segmented into black silicon carbide and green silicon carbide. The black silicon carbide segment accounted for a larger market share in 2019, and the green silicon carbide segment is expected to register a higher CAGR in the market during the forecast period.
Asia Pacific holds the largest share in the market, followed by North America. Further, China dominates the silicon carbide market in Asia Pacific, followed by India and Rest of Asia Pacific, respectively. The high demand for silicon carbide from the automotive, electronics and semiconductors, medical, and other industries is driving market growth in Asia.
A few of the players operating in the silicon carbide market are Fiven ASA, AGSCO Corp, Carborundum Universal Limited, ESD-SIC, ESK-SIC GmbH, Futong Industry Co. Limited, Electro Abrasives, LLC, Washington Mills, Tifor B.V., and Grindwell Norton Ltd.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Silicon Carbide Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Expert Opinion
5. Silicon Carbide Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Proliferation of Electronics and Semiconductors Industries
5.1.2 Wide Range of Applications
5.2 Market Restraints
5.2.1 High Material Cost
5.3 Market Opportunities
5.3.1 Increasing Focus on Investments, Product Innovations, Expansion, Partnerships, and Acquisitions
5.4 Future Trends
5.4.1 Rising Adoption of Electric Vehicles
5.5 Impact Analysis of Drivers and Restraint
6. Silicon carbide - Global Market Analysis
6.1 Silicon carbide Market Overview
6.2 Silicon Carbide Market -Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Key Market Players
7. Silicon Carbide Market Analysis - By Type
7.1 Overview
7.2 Silicon Carbide Market, By Type (2019 and 2027)
7.3 Black Silicon Carbide
7.4 Green Silicon Carbide
8. Silicon Carbide Market Analysis - By End-Use Industry
8.1 Overview
8.2 Silicon Carbide Market, By End-use industry (2019 and 2027)
8.3 Automotive
8.4 Aerospace and Aviation
8.5 Military and Defense
8.6 Electronics and Semiconductors
8.7 Medical and Healthcare
8.8 Steel
9. Silicon Carbide (SiC) Market - Geographic Analysis
10. Overview- Impact of COVID-19
11. Company Profiles
- Fiven ASA
- AGSCO Corp
- Carborundum Universal Limited
- ESD-SIC
- ESK-SIC GmbH
- Futong Industry Co. Limited
- Electro Abrasives, LLC
- Washington Mills
- Tifor B.V.
- Grindwell Norton Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/5zef8k