Silicon Carbide Market Size Worth USD 9.18 Billion By 2027 | Emergen Research

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. The global silicon carbide market is experiencing significant growth attributed to rising demand for energy-efficient solutions such as electric vehicles and renewable energy, according to recent market research. Silicon carbide, a wide bandgap semiconductor, is witnessing increased adoption in power electronics due to its exceptional properties, including high hardness, thermal conductivity, and chemical stability.

The market is primarily driven by the growing need for high-power and high-frequency applications with low losses and high efficiency, particularly in industries like electric vehicles, renewable energy, and 5G technology. Notably, BorgWarner's recent announcement of integrating STMicroelectronics' silicon carbide technology into Volvo Cars' next-generation electric vehicles underscores the market's momentum.

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However, challenges such as high production costs and raw material availability hinder market growth. Additionally, the emergence of gallium nitride as a competitor in power module applications poses a threat to silicon carbide market expansion.

Segment Insights:

• Silicon Carbide Type: The black silicon carbide segment dominates the market due to its effectiveness in various applications such as cutting tools, automobiles, and aerospace. Rising demand for abrasives and government support further fuel the segment's growth.

• Wafer Size: Wafer sizes above 150 mm hold the largest market share, driven by increased demand for power electronics manufacturing. Partnerships like the one between Qorvo and SK Siltron CSS contribute to meeting this demand, especially in the automotive sector.

• Application: The transportation segment leads in revenue share, driven by silicon carbide's use in engine components and brake systems. Its high thermal conductivity and strength make it an ideal material for transportation components.

• End-Use: The electronics and semiconductors segment is expected to witness significant revenue growth, driven by the demand for efficient electronic chips. Silicon carbide's properties, including high hardness and durability, make it an ideal solution for manufacturers.

Future Outlook:

As industries continue to prioritize energy efficiency and innovation, the demand for silicon carbide semiconductor components is expected to rise. Manufacturers are likely to focus on overcoming production challenges and exploring cost-effective alternatives to maintain competitiveness in the market.

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Silicon Carbide Top 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.

• 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

Silicon Carbide Latest Industry News

• 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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Silicon Carbide Market Segment Analysis

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)
o Black Silicon Carbide
o Green Silicon Carbide

• Wafer Size Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Up to 150 MM
o > 150 MM

• Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Energy and vehicles
o Transportation
o Consumer Appliances
o Medicines
o Led Lights and Transistors
o 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)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

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