Silicon Carbide Market

Silicon Carbide Market Outlook (2022 to 2032)

The silicon carbide market is poised to witness a CAGR of 7.5% during the forecast period. Over this projection period, the silicon carbide market share is estimated to reach a net worth of USD 5.8 Billion by 2032 improving from the current valuation of USD 2.8 Billion in 2022.

Silicon carbide reduces power system loss by 50%, owing to which the adoption of silicon carbide is increasing in various applications such as industrial motor drives, power supply and inverters, lighting control, and others.

Various factors such as the surge in demand for motor drives, compact system size, and the increase in utility of silicon carbide in the cellular base station and radio frequency devices are some factors that are expected to be driving the growth of the silicon carbide market during the forecast period.

Attributes	Details
Silicon Carbide Market Value in 2022	USD 2.8 Billion
Silicon Carbide Market Value in 2032	USD 5.8 Billion
Silicon Carbide Market CAGR (2022 to 2032)	7.5%

Can High Cost of Silicon Carbide Derail the Sales Momentum?

Silicon carbide is a semiconductor, which assists the system in reducing size and power loss by 50 %, owing to which, silicon carbide is expected to replace other silicon-based semiconductors and transistors from the market.

On the other hand, the price of silicon carbide ranges approximately from USD 800 to USD 2,000 per ton which is very high compared to other alternatives available in the market. Therefore, the high cost is the major factor restraining the silicon carbide market growth. Also, defects in material and issues related to the package are the other challenge faced by some. However, the market is likely to upkeep modest growth during the forecast period.

Which is the Best Performing Segment for the Silicon Carbide Market?

Telecommunication components manufacturers are the major end users creating the maximum silicon carbide market opportunities across the globe. The ongoing advancement in this area is poised to strengthen the silicon carbide market's key trends and opportunities in the coming days.

North America to Follow the Lead of Asia Pacific

The regional market players in the North American region, according to the global market study report on silicon carbide report, contribute a fair share of 23.7% in the overall revenue generation.

In North America, particularly in the USA, the demand for silicon carbide has remained substantial owing to the presence of a number of electronics and semiconductor device manufacturers. In the coming days, the silicon carbide market opportunities in this geographical are expected to remain profitable given the increasing demand for computer-based microchips around the world.

Established Electronics Industry to Contribute Significantly to the Asia Pacific Market

As per the silicon carbide market analysis report by FMI, the Asia Pacific region contributes the largest share of 26.8% in the overall market. Asia Pacific holds the major market for cellular base station and radio frequency devices, due to which, the Asia Pacific region captures the largest market share regarding revenue for the silicon carbide market. And it is also expected to continue its dominance during the forecast period.

Further, owing to the support of government FDI on investment in countries such as India and China is becoming a key attraction for the silicon carbide market players to invest in the Asia Pacific region. In addition to the above, in China, continuous development in electric vehicles and EV charging are anticipated to cater to new avenues for silicon carbide market growth in forthcoming years.

Startups vs Key Players - Who Reigns the Silicon Carbide Market?

With the proliferation of semiconductor manufacturers around the world, the sales of silicon carbide have accelerated in the present times attracting new players in the market. Several start-ups have surfaced in this regard, especially in developing nations of the Asia Pacific, further boosting the global silicon carbide market. These players rely on improving the product and creating more use cases to broaden gains from diverse end-user segments.

In stark contrast, most of the silicon carbide key players have acquired long-term partnerships with electronics and semiconductor devices market players. Apart from that, diversifying silicon sources by establishing manufacturing units near mining locations is a very lucrative option for the silicon carbide market's major players.

Recent Developments in the Global Silicon Carbide Market

• A multinational manufacturer of semiconductor wafers named SK Siltron said in March 2020 that it had successfully acquired DuPont's Silicon Carbide Wafer division for which the deal was finalized on February 29, 2020.
• A memorandum of understanding (MOU) was inked in January 2020 between SK Siltron and Daegu Gyeongbuk Institute of Science and Technology to provide parallel computing support for the research and development of single crystal growth technology.

Among the start-up and key players, the latter has a stronghold on the silicon carbide market, which makes the market consolidated in nature.

Key Companies

• Pilegrowth Tech S.R.L
• Ascatron AB
• United Silicon Carbide, Inc.
• Basic 3C, Inc.
• Toshiba Corporation
• Bruckewell Technology Corporation
• Tankeblue Semiconductor Co. Ltd.
• Central Semiconductor Corporation
• Stmicroelectronics N.V.
• Cree Inc. (Wolfspeed)
• DOW Corning Corporation
• Sanken Electric Co., Ltd.
• Fuji Electric Co., Ltd.
• Saint-Gobain Silicon Carbide
• General Electric, Rohm Semiconductor
• Genesic Semiconductor Inc.
• Global Power Technologies Group
• Renesas Electronics Corporation
• Graphensic AB
• On Semiconductor, Infineon Technologies AG
• Norstel AB
• Microsemi Corporation
• Monolith Semiconductor Inc.

Attributes Table

Attributes	Details
Growth Rate	CAGR of 7.5% from 2022 to 2032.
The base year for Estimation	2022
Historical Data Available for	2016 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Segments Covered	Product Type, Wafer Size, Application, End User Verticals, Region
Regions Covered	North America; Latin America; Asia Pacific; Japan; Western Europe; Eastern Europe; Middle East & Africa
Key Countries Profiled	United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC Countries, South Africa
Key Companies Profiled	Pilegrowth Tech S.R.L.; Ascatron AB; United Silicon Carbide, Inc.; Basic 3C, Inc.; Toshiba Corporation; Bruckewell Technology Corporation; Tankeblue Semiconductor Co. Ltd.; Central Semiconductor Corporation; STMicroelectronics N.V.; Cree Inc. (Wolfspeed); DOW Corning Corporation; Sanken Electric Co., Ltd.; Fuji Electric Co.; Ltd., Saint-Gobain Silicon Carbide; General Electric; Rohm Semiconductor; Genesic Semiconductor Inc.; Global Power Technologies Group; Renesas Electronics Corporation; Graphensic AB; On Semiconductor; Infineon Technologies AG; Norstel AB; Microsemi Corporation; Monolith Semiconductor Inc.
Customization	Available upon Request

Key Segments in the Silicon Carbide Market

By Product Type:

• Bare die
• Biscrete devices
• Module
• Diode
• MOSFET

By Wafer Size:

• 2 Inches
• 4 Inches
• 6-Inches
• More than 6-inches

By Application:

• Electronic Combat System
• RF Device and Cellular Base Station
• Solar and Wind Energy
• Power Grid Device
• Flame Detector
• Flexible AC Transmission Systems (FACTS)
• EV Charging
• EV Motor Drive
• High-Voltage, Direct Current (HVDC)
• Industrial Motor Drive
• Power Supply and Inverter
• Lighting Control
• Others

By End User:

• Power Electronics
• Telecommunications
• Automotive
• Energy & Power
• Defense
• Renewable Power Generation
• Others

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa (MEA)
• Europe

Frequently Asked Questions

What is the Growth Outlook for the Global Silicon Carbide Market?

The silicon carbide market is anticipated to register a CAGR of 7.5% through 2032.

What is the Net Worth of the Silicon Carbide Market?

The silicon carbide market is estimated around USD 2.8 Billion in 2022.

What is the Future of the Silicon Carbide Market?

The silicon carbide market is poised to be valued at USD 5.8 Billion by 2032.

Which is the Best Performing Region for the Silicon Carbide Market?

The Asia Pacific region captures a share of 26.8% of the silicon carbide market.