Silicon Carbide Global Market Report 2022: Huge Expansion in EV Sales and Manufacturing Presents Opportunities
Global Silicon Carbide Market
Dublin, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The "Silicon Carbide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global silicon carbide market size reached US$ 5.3 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 7.7 Billion by 2027, exhibiting a CAGR of 6.42% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Significant growth in the steel industry across the globe is one of the key factors creating a positive outlook for the market. SiC is extensively used in the production of stainless steel as it enhances the yield rate and purifies molten steel. Moreover, widespread product adoption for the manufacturing of various semiconductors and other electronic components is providing a thrust to the market growth.
It can function in high voltage and temperature conditions and is thereby also used to manufacture electronic vehicles (EVs). It aids in reducing the weight of the automobiles and improving overall efficiency. Other factors, including the increasing utilization of SiC devices in cellular base stations and radio-frequency operations, along with the implementation of favorable government policies promoting the use of renewable energy resources for power generation, are anticipated to drive the market toward growth.
Key Market Segmentation
Breakup by Product:
Black Silicon Carbide
Green Silicon Carbide
Others
Breakup by Application:
Steel
Automotive
Aerospace
Military and Defense
Electrical and Electronics
Healthcare
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Key Questions Answered in This Report:
How has the global silicon carbide market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global silicon carbide market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global silicon carbide market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Silicon Carbide Market
6 Market Breakup by Product
7 Market Breakup by Application
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
Companies Mentioned
AGSCO Corp
Carborundum Universal Limited (Murugappa Group)
Compagnie de Saint-Gobain S.A.
Cree Inc.
Entegris Inc.
ESK-SIC GmbH
Fuji Electric Co. Ltd.
General Electric Company
Genesic Semiconductor Inc.
Infineon Technologies AG
Renesas Electronics Corporation
SNAM Abrasives Pvt Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/v6jai5
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