Silicon Carbide Market Flourishes as Use of Consumer Electronics Skyrockets

Pune, India, July 2023 /press release/- Market Research Future Published a Half Cooked Research Report on Global Silicon Carbide Market.

Silicon Carbide Market Highlights

Silicon and carbon combine to form silicon carbide, commonly known as carborundum, a semiconductor. It is created artificially as SiC powder and naturally occurs as the extremely rare mineral moissanite. To create tough ceramics, silicon carbide grains can be sinter-bonded together. SiC has recently emerged as a significant force in the semiconductor market, supplying energy to MOSFETs, Schottky diodes, and power modules for use in high-power, high-efficiency applications. SiC allows for voltage thresholds of over 10kV, despite being more expensive than silicon MOSFETs, which are normally constrained to breakdown voltages at 900V.

SiC also has extremely low switching losses and is capable of supporting high operating frequencies, enabling it to attain efficiencies that are currently unmatched, particularly in applications that operate at voltages more than 600 volts. SiC devices have the potential to cut total system costs by 20%, size by 300%, and converter and inverter system losses by about 50% with effective implementation. SiC can be very helpful in applications where weight and space are important thanks to this reduction in overall system size.

Car brakes, car clutches, LEDs, detectors, and ceramic plates in bulletproof vests and jackets are just a few of the numerous uses for silicon carbide. SiC semiconductors are becoming more and more in demand for electrical devices like LEDs, detectors, and sensors, which will propel the industry. The industry is anticipated to benefit from the increasing use of renewable energy sources for power generation. One of the main factors supporting the industry is also the rising steel output. Market Research Future anticipates that the silicon carbide market will surge from USD 1.98 Billion in 2023 to USD 2.55 billion by 2030, at a decent rate of 4.72% between 2023 and 2030.

From 2017 to 2019, the U.S. consumption patterns for silicon carbide were mostly constant, with increased product penetration seen in the domestic semiconductor market. One of the principal applications for the product continued to be in wafer form. The domestic market's suppliers had strong development, with Washington Mills emerging as the market leader in the silicon carbide sector. However, the global pandemic and ensuing shutdown of manufacturing operations had a direct impact on new order bookings, which ultimately contributed to the FY 2020 shortfall. Movement restrictions and requirements for social segregation have a direct impact on domestic manufacturers' productivity rates.

Furthermore, SiC has gained popularity in the automobile industry because of the need for superior quality, dependability, and efficiency. SiC is adept at meeting high voltage requirements. By improving the efficiency of the entire system, particularly the inverter system, silicon carbide has the potential to extend the range of electric vehicles. This is because it conserves more energy overall for the vehicle and reduces the size and weight of the battery management systems.

SiC-enabled inverter optimization also contributes significantly to efficiency and cost savings in the solar sector. When silicon carbide is used in solar inverters, the switching frequency of the system is increased by two to three times that of normal silicon. The circuit's magnetics can be reduced thanks to the rise in switching frequency, which saves both money and space. As a result, designs for silicon carbide-based inverters can be almost half as small and light as those for silicon-based inverters. SiC's strong endurance and reliability persuade solar producers and engineers to choose it over other materials like gallium nitride. Due to the dependability of silicon carbide, solar systems can reach the consistent lifetime they need to run continuously for more than ten years.

Segmental Analysis 

Black silicon carbide and green silicon carbide are two types of silicon carbide that have been studied in the report. By accounting for roughly 66–68% of the Silicon Carbide market's revenue in 2022, the black Silicon Carbide segment owned the lion's share of the worldwide industry.

Steel & energy, automotive, aircraft & aviation, military & defense, electronics & semiconductors, and medical & healthcare are among the market segments for silicon carbide, with respect to the application.

Detailed Regional Analysis 

In 2022, the Asia-Pacific Silicon Carbide Market was valued at USD 1.3 billion, and it will rise at a substantial rate over the research period. This is attributable to the fact that there are various companies in this region making silicon carbide ceramics, including ones making glass, glassware, equipment, aerospace, and defense items.

Competitive Analysis

The top corporations use strategies like product releases, collaboration agreements, expansion, acquisitions, and agreements to strengthen their market position. One of the key strategies employed by businesses is to manufacture goods locally to reduce operational costs.

The top manufacturers of silicon carbide are CUMI EM, AGSCO Corp, Saint-Gobain, and ESD-SIC BV.

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