Silicon Carbide Market
Silicon Carbide Market Forecasts to 2028 – Global Analysis By Technology (Refractory Grade, Metallurgical Grade), Device Type (SIC Bare Die, SIC Discrete Device), Product (Green Silicon Carbide, Black Silicon Carbide), and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $1,014.67 MN |
|
Projected Year Value (2028) |
US $3,137.54 MN |
|
CAGR (2021 - 2028) |
17.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Europe |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Silicon Carbide Market is accounted for $1,014.67 million in 2021 and is expected to reach $3,137.54 million by 2028 growing at a CAGR of 17.5% during the forecast period. Silicon carbide is a compound of silica and carbon. SIC is one of the hard materials, which has extraordinary performance when compared to silicon. Additionally, it can possibly to offer high power switching application in extreme environment. Silicon carbide is wide gap semiconductor material which is utilized in semiconductor electronics devices that work at high temperature or high voltage or both. This property has made silicon carbide to highly ideal in end-use applications.
Market Dynamics:
Driver:
Increasing demand for electric and hybrid cars
The electric and hybrid vehicles are gaining traction as they are more digitally connected than conventional vehicles. Also, they reduce the consumption of fossil fuels, such as petrol and diesel, reduce global warming and ecological damage, and offer superior fuel efficiency. Additionally, due to COVID-19, the automotive industry has been witnessing a slowdown in demand for hybrid, electric, and autonomous vehicles. However, their demand is likely to be higher than that of any other vehicle type in the post-COVID-19 period.
Restraint:
Design complexities, packaging issues, and material defects
In silicon carbide materials, especially crystals, micro-sized holes known as micropipes are found across the crystals. During the manufacturing of larger wafers, silicon carbide devices are susceptible to various defects such as dislocations, prototype inclusions, and stacking faults. These defects occur due to a non-optimal balance of silicon and carbon precursors, and local instability in pressure or temperature. These defects affect the device efficiency and degrade their electrical characteristics.
Opportunity:
Increasing demand for silicon carbide devices in power electronics
The power electronics play a crucial role in the global electrical infrastructure. In the power electronics industry, numerous power devices are available, which convert alternating current to direct current (or vice versa) in the systems. SiC devices such as Sic diodes and modules are compound semiconductors composed of silicon and carbide. They offer several advantages such as wide bandgap, high drift velocity, high breakdown voltage, large critical electric field, and high thermal conductivity, and are capable of working at higher current density and temperatures. Also, they are designed to minimize energy loss and increase the efficiency of the system.
Threat:
High fabrication and material costs
As silicon carbide materials are commercially synthesized in high-temperature environments, they are more expensive than Si raw material, while Si can be easily extracted from silica that occurs naturally. During device fabrication, several factors play a role in making it costlier for foundries and fabs, such as the lesser number of foundry and fab facilities. In addition, the final phases such as assembly, testing, and packaging, are costlier due to the lack of advanced technology-based suitable equipment.
The automotive segment is expected to be the largest during the forecast period
The automotive segment is estimated to have a lucrative growth owing to the rising penetration of electric vehicles, in which silicon carbide is used for manufacturing power electronic devices that operate at elevated temperatures. The increasing production of the devices to meet the global demand from the automotive industry is anticipated to augment market growth over the forecast period. For instance, according to the International Energy Agency, the global sales of electric vehicles are anticipated to reach 44 million per year by 2030, which in turn is likely to propel the demand for electronic devices such as inverters and MOSFET.
The black silicon carbide segment is expected to have the highest CAGR during the forecast period
The black silicon carbide segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the increasing consumption of steel and growing automobile and construction industries. It is crystalline in nature with a hardness of Mohs 9.1 and is produced in furnaces at temperatures greater than 2300 degrees Celsius from silica sand and coke. Black silicon carbide has applications in abrasives, grinding and polishing, wear-resistant, and refractory products on account of its properties such as low density, resistant to oxidation and thermal shock, high strength, high thermal conductivity, high-temperature strength, high hardness, wear-resistance, excellent chemical resistance, and low thermal expansion. It is cost-effective compared to green silicon carbide.
Region with highest share:
Europe is projected to hold the largest market share during the forecast period due to the growing aerospace and defense industries and established automotive industry. Recently, the European Union allocated funds to the European Defense Industrial Development Programme to boost the growth of the defense industry, which in turn is anticipated to augment market growth over the coming years. Additionally, the growth in the manufacturing sector along with the increase in disposable income is expected to boost the demand for electronics and automobiles in Europe. Therefore, the growing end-use industries such as aerospace and defense, automotive, and electronics are anticipated to drive the market in the European region.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period due to the increasing demand for advance and upgraded technology across various sectors, including electronics, automotive, and defense, in the region. China is one of the major consumers of semiconductors, and it is trying to ramp up semiconductor production. In 2019, Beijing, the capital of China, highlighted semiconductors as a key area of the Made in China 2025 plan, a government initiative that aimed to boost the production of higher-value products. China is aiming to produce 70% of the semiconductors it uses by 2025. The region is dominating the semiconductor market, which is supported by government policies owing to which the demand for silicon carbide is projected to increase further.
Key players in the market
Some of the key players profiled in the Silicon Carbide Market include Ascatron, CREE, Inc, Fuji Electric Co., Ltd, General Electric Company, GeneSiC Semiconductor Inc, Infineon Technologies AG, Microchip Technology Incorporated, ON Semiconductor, Powerex Inc, Renesas Electronics Corporation, SEMIKRON, SK Siltron, STMicroelectronics N.V, Toshiba Corporation, and UnitedSiC.
Key Developments:
In June 2021, Cree, Inc signed a contract with Shenzhen Gospower Digital Technology Co., Ltd, a national high-tech enterprise and leader in power electronics converters. Under this contract, CREE offers Cree’s Wolfspeed®650 V silicon carbide MOSFETs for next-generation Common Redundant Power Supply (CRPS) solutions.
In June 2020, General Electric and II‐VI Incorporated (US) agreed to license GE's technology to manufacture silicon carbide (SiC) devices and modules for power electronics.
In March 2020, SK Siltron, a global maker of semiconductor wafers, announced that it had completed the acquisition of DuPont's Silicon Carbide Wafer unit. The acquisition was closed on February 29, 2020.
Products Covered:
• Green Silicon Carbide
• Black Silicon Carbide
Device Types Covered:
• SIC Bare Die
• SIC Module
• SIC Discrete Device
Technologies Covered:
• Refractory Grade
• Metallurgical Grade
Wafer Sizes Covered:
• 2 Inch
• 4 Inch
• 6 Inch and Above
Crystal Structures Covered:
• Zinc Blende (3C-SiC)
• Wurtzite (6H-SiC)
• Wurtzite (4H-SiC)
• Rhombohedral (15R-SiC)
Applications Covered:
• Astronomical
• Atomic Sciences
• Electronic Combat Systems
• EV Charging Stations
• EV Motor Drives
• Flame Detectors
• Flexible AC Transmission Systems (FACTs)
• High-Voltage, Direct Current Systems (HVCDs)
• Industrial Motor Drives
• Lighting Control Systems
• Nuclear
• Power Grid Devices
• Power Supplies and Inverters
• Pyrometer
• RF Devices & Cellular Base Stations
• Solar Power Systems
• Wind Turbine
End Users Covered:
• Abrasive Industry
• Aerospace & Aviation
• Automotive
• Ceramic Industry
• Chemical
• Electrical & Electronics
• Energy & Power
• Healthcare & Medical
• Metallurgical Industry
• Military & Defense
• Nuclear Power
• Power Electronics
• Refractory Industry
• Renewable Power Generation
• Semiconductors
• Space Research
• Steel
• Telecommunication
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Silicon Carbide Market, By Product
5.1 Introduction
5.2 Green Silicon Carbide
5.3 Black Silicon Carbide
6 Global Silicon Carbide Market, By Device Type
6.1 Introduction
6.2 SIC Bare Die
6.3 SIC Module
6.4 SIC Discrete Device
6.4.1 SIC Diode
6.4.2 SIC MOSFET
7 Global Silicon Carbide Market, By Technology
7.1 Introduction
7.2 Refractory Grade
7.3 Metallurgical Grade
8 Global Silicon Carbide Market, By Wafer Size
8.1 Introduction
8.2 2 Inch
8.3 4 Inch
8.4 6 Inch and Above
9 Global Silicon Carbide Market, By Crystal Structure
9.1 Introduction
9.2 Zinc Blende (3C-SiC)
9.3 Wurtzite (6H-SiC)
9.4 Wurtzite (4H-SiC)
9.5 Rhombohedral (15R-SiC)
10 Global Silicon Carbide Market, By Application
10.1 Introduction
10.2 Astronomical
10.3 Atomic Sciences
10.4 Electronic Combat Systems
10.5 EV Charging Stations
10.6 EV Motor Drives
10.7 Flame Detectors
10.8 Flexible AC Transmission Systems (FACTs)
10.9 High-Voltage, Direct Current Systems (HVCDs)
10.10 Industrial Motor Drives
10.11 Lighting Control Systems
10.12 Nuclear
10.13 Power Grid Devices
10.14 Power Supplies and Inverters
10.15 Pyrometer
10.16 RF Devices & Cellular Base Stations
10.17 Solar Power Systems
10.18 Wind Turbine
11 Global Silicon Carbide Market, By End User
11.1 Introduction
11.2 Abrasive Industry
11.3 Aerospace & Aviation
11.4 Automotive
11.5 Ceramic Industry
11.6 Chemical
11.7 Electrical & Electronics
11.8 Energy & Power
11.9 Healthcare & Medical
11.10 Metallurgical Industry
11.11 Military & Defense
11.12 Nuclear Power
11.13 Power Electronics
11.14 Refractory Industry
11.15 Renewable Power Generation
11.16 Semiconductors
11.17 Space Research
11.18 Steel
11.19 Telecommunication
12 Global Silicon Carbide Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Ascatron
14.2 CREE, Inc
14.3 Fuji Electric Co., Ltd
14.4 General Electric Company
14.5 GeneSiC Semiconductor Inc
14.6 Infineon Technologies AG
14.7 Microchip Technology Incorporated
14.8 ON Semiconductor
14.9 Powerex Inc
14.10 Renesas Electronics Corporation
14.11 SEMIKRON
14.12 SK Siltron
14.13 STMicroelectronics N.V
14.14 Toshiba Corporation
14.15 UnitedSiC
List of Tables
1 Global Silicon Carbide Market Outlook, By Region (2020-2028) ($MN)
2 Global Silicon Carbide Market Outlook, By Product (2020-2028) ($MN)
3 Global Silicon Carbide Market Outlook, By Green Silicon Carbide (2020-2028) ($MN)
4 Global Silicon Carbide Market Outlook, By Black Silicon Carbide (2020-2028) ($MN)
5 Global Silicon Carbide Market Outlook, By Device Type (2020-2028) ($MN)
6 Global Silicon Carbide Market Outlook, By SIC Bare Die (2020-2028) ($MN)
7 Global Silicon Carbide Market Outlook, By SIC Module (2020-2028) ($MN)
8 Global Silicon Carbide Market Outlook, By SIC Discrete Device (2020-2028) ($MN)
9 Global Silicon Carbide Market Outlook, By SIC Diode (2020-2028) ($MN)
10 Global Silicon Carbide Market Outlook, By SIC MOSFET (2020-2028) ($MN)
11 Global Silicon Carbide Market Outlook, By Technology (2020-2028) ($MN)
12 Global Silicon Carbide Market Outlook, By Refractory Grade (2020-2028) ($MN)
13 Global Silicon Carbide Market Outlook, By Metallurgical Grade (2020-2028) ($MN)
14 Global Silicon Carbide Market Outlook, By Wafer Size (2020-2028) ($MN)
15 Global Silicon Carbide Market Outlook, By 2 Inch (2020-2028) ($MN)
16 Global Silicon Carbide Market Outlook, By 4 Inch (2020-2028) ($MN)
17 Global Silicon Carbide Market Outlook, By 6 Inch and Above (2020-2028) ($MN)
18 Global Silicon Carbide Market Outlook, By Crystal Structure (2020-2028) ($MN)
19 Global Silicon Carbide Market Outlook, By Zinc Blende (3C-SiC) (2020-2028) ($MN)
20 Global Silicon Carbide Market Outlook, By Wurtzite (6H-SiC) (2020-2028) ($MN)
21 Global Silicon Carbide Market Outlook, By Wurtzite (4H-SiC) (2020-2028) ($MN)
22 Global Silicon Carbide Market Outlook, By Rhombohedral (15R-SiC) (2020-2028) ($MN)
23 Global Silicon Carbide Market Outlook, By Application (2020-2028) ($MN)
24 Global Silicon Carbide Market Outlook, By Astronomical (2020-2028) ($MN)
25 Global Silicon Carbide Market Outlook, By Atomic Sciences (2020-2028) ($MN)
26 Global Silicon Carbide Market Outlook, By Electronic Combat Systems (2020-2028) ($MN)
27 Global Silicon Carbide Market Outlook, By EV Charging Stations (2020-2028) ($MN)
28 Global Silicon Carbide Market Outlook, By EV Motor Drives (2020-2028) ($MN)
29 Global Silicon Carbide Market Outlook, By Flame Detectors (2020-2028) ($MN)
30 Global Silicon Carbide Market Outlook, By Flexible AC Transmission Systems (FACTs) (2020-2028) ($MN)
31 Global Silicon Carbide Market Outlook, By High-Voltage, Direct Current Systems (HVCDs) (2020-2028) ($MN)
32 Global Silicon Carbide Market Outlook, By Industrial Motor Drives (2020-2028) ($MN)
33 Global Silicon Carbide Market Outlook, By Lighting Control Systems (2020-2028) ($MN)
34 Global Silicon Carbide Market Outlook, By Nuclear (2020-2028) ($MN)
35 Global Silicon Carbide Market Outlook, By Power Grid Devices (2020-2028) ($MN)
36 Global Silicon Carbide Market Outlook, By Power Supplies and Inverters (2020-2028) ($MN)
37 Global Silicon Carbide Market Outlook, By Pyrometer (2020-2028) ($MN)
38 Global Silicon Carbide Market Outlook, By RF Devices & Cellular Base Stations (2020-2028) ($MN)
39 Global Silicon Carbide Market Outlook, By Solar Power Systems (2020-2028) ($MN)
40 Global Silicon Carbide Market Outlook, By Wind Turbine (2020-2028) ($MN)
41 Global Silicon Carbide Market Outlook, By End User (2020-2028) ($MN)
42 Global Silicon Carbide Market Outlook, By Abrasive Industry (2020-2028) ($MN)
43 Global Silicon Carbide Market Outlook, By Aerospace & Aviation (2020-2028) ($MN)
44 Global Silicon Carbide Market Outlook, By Automotive (2020-2028) ($MN)
45 Global Silicon Carbide Market Outlook, By Ceramic Industry (2020-2028) ($MN)
46 Global Silicon Carbide Market Outlook, By Chemical (2020-2028) ($MN)
47 Global Silicon Carbide Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
48 Global Silicon Carbide Market Outlook, By Energy & Power (2020-2028) ($MN)
49 Global Silicon Carbide Market Outlook, By Healthcare & Medical (2020-2028) ($MN)
50 Global Silicon Carbide Market Outlook, By Metallurgical Industry (2020-2028) ($MN)
51 Global Silicon Carbide Market Outlook, By Military & Defense (2020-2028) ($MN)
52 Global Silicon Carbide Market Outlook, By Nuclear Power (2020-2028) ($MN)
53 Global Silicon Carbide Market Outlook, By Power Electronics (2020-2028) ($MN)
54 Global Silicon Carbide Market Outlook, By Refractory Industry (2020-2028) ($MN)
55 Global Silicon Carbide Market Outlook, By Renewable Power Generation (2020-2028) ($MN)
56 Global Silicon Carbide Market Outlook, By Semiconductors (2020-2028) ($MN)
57 Global Silicon Carbide Market Outlook, By Space Research (2020-2028) ($MN)
58 Global Silicon Carbide Market Outlook, By Steel (2020-2028) ($MN)
59 Global Silicon Carbide Market Outlook, By Telecommunication (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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