The global silicon carbide market is valued at around US$ 2.5 billion in 2023 and is projected to grow at a healthy growth rate of over 16% over the forecast period 2023-2033.
Silicon carbide (SiC) , also known as carbonundum, is a chemical compound made up of silicon and carbon. Additionally, SiC is one of the hard compounds and has superior performance, power rating and power switching frequency compared to silicon.isalso heavily adopted in end-use applications due to its great potential to provide high power switching applications in harsh In addition, increasing demand for SiC in the electric vehicle industry and increasing government funding to increase SiC production are other factors responsible for market growth during the forecast period.According to a 2018 International Energy Agency study, more than 1 million electric vehicles will be sold by 2023, with more than half of global sales coming from China. In 2019, it is estimated that the total number of electric vehicles sold worldwide exceeded 2.1 million Similar, in 2019, China remained by fartheworld's most sophisticated market for electric vehicle sales, with 2.3 million electric vehicles in active service.This is expected to create a huge demand for silicon carbide worldwide . and lack of substitutes are the major factors hindering market growth during the forecast period of 2023-2033.
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The global silicon carbide market is regionally analyzed for key regions such as Asia-Pacific, North America, Europe, Latin America, and Rest of the World. North America has become the world's leading/important region in terms of market share due to the increasing penetration of electric and hybrid vehicles and the presence of many vendors in the region.
Key market players included in this report are:
AGSCO Corp.
Carborundum Universal Limited
The Dow Chemical Company
Entegris Inc.
SC BV
ESK-SIC GmbH
Gaddis Engineered Materials
Grindwell Norton Limited
Saint-Gobain Ceramic Materials
Snam Abrasives Pvt.
The purpose of this study is to define the market size of various segments & countries in recent years and to forecast the value over the next 8 years. The report is designed to include both qualitative and quantitative aspects of the industry for each region and country studied In addition, it provides detailed information on key aspects such as the drivers and challenges that will define the future growth of the market.
In addition, the report also incorporates an in-depth analysis of the competitive landscape and product offerings of key players, along with available opportunities in the micro market for stakeholders to invest.
The detailed segments and sub-segments of the market are described below:
by product
black silicon carbide
green carbide
By use
steel
Automotive
Aerospace
military & defense
Electricity/Electronics
Healthcare
others
By region
north america
US
Canada
Europe
Commonwealth Kingdom
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
lower pack
latin america
Brazil
Mexico
Other regions
Read the full research report here: https://www.sdki.jp/reports/global-silicon-carbide-market/59026
Additionally, the years considered in this study are:
Historic Years - 2017, 2018
Base year - 2019
Forecast period - 2023-2033
Target Audience of Global Silicon Carbide Market in Market Research:
Major consulting firms and advisors
Large companies, medium-sized companies, SMEs
venture capital
Value Added Reseller (VAR)
Third party knowledge provider
investment banker
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