Silica Carbide Market to Witness Prodigious 15% Growth
Demand for Silicon Carbide (SiC) in power electronics is increasing on the back of, long battery life and reduced charge time.
High thermal conductivity, and energy efficiency of SiC drives the global silicon carbide market to a stupendous four-fold growth during the forecast period (2019 – 2029).
Increasing applications in plug-in hybrid (PHEV) and electric vehicles (EV) will amass revenues from automotive sector.
Silicon carbide based batteries prevent loss of charge and ensure that PHEV and EVs run for longer distances.
Government policies lay emphasis on increasing the minimum distance that EV manufacturers must ensure in automotive products.
For instance, the minimum commuting range was increased from a previous 100 km to 150 km by the Chinese government.
Manufacturers must ensure an energy density requirement of 105 watt-hours per kg to leverage incentive policies from the Chinese government.
Development of innovative end-uses such as high switching efficiency in diodes and power modules is projected to generate remunerative opportunities through 2029.
Black Silicon Carbide Accelerates Profitability
Typically used for finishing cast iron, non-ferrous metals, stone, lather, and rubber the sharp cutting characteristics of black silicon carbide is anticipated to give an uptick to its demand during the projection period.
Black silicon carbide is poised to maintain a stronghold of more than ½ of the market value share. Its counterpart, green silicon carbide is gaining traction on the back of higher purity, sharpness, and friable nature of the element.
Green silicon carbide will grow at a stupendous 17% CAGR from 2019 to 2029. Green silicon carbide, as an ideal abrasive is employed in grinding low-ductile materials with low-tensile strength such as ceramics.
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Asia Pacific Gathers Impetus from Surging Adoption of Electric Vehicles in Automotive
Asia Pacific (East Asia and Southeast Asia & Oceania) accounts for more than ½ of the total market value.
Developing economies in this region are experiencing multiplying production of SiC based products from steel, automotive, electrical & electronics, and healthcare.
East Asia and Southeast Asia exhibit stellar growth rates of over 16% and 17% respectively. Market players are garnering incremental growth opportunities by innovating and developing end-use applications addressing local issues.
APAC countries such as China, Japan, Indonesia, and India are witnessing a surging demand for electric vehicles which in turn presents lucrative revenue opportunities for silicon carbide manufacturers.
Electric Vehicles and Power Generation to Form Strong Pockets of Demand
Electric vehicles are not only the future of energy efficient travelling but also of the silicon carbide market.
The product finds surging demand in EV applications that employ silicon carbide to enhance the charge cycle and range per charge of EV batteries.
As the forecast nears midterm, electric vehicles are expected to account for a majority of the total revenues.
Power electronic applications for EVs, PHEVs, or industrial applications are a central factor for the silicon carbide market.
Major players that influence the competitive landscape are
- Dow Chemical Co.
- AGSCO Corporation
- Carborundum Universal Limited.
- Entegris Inc.
- ESD-SiC b.v.
- ESK-SIC GmbH
- Gaddis Engineered Materials
- Grindwell Norton Ltd.
- Saint Gobain Ceramic Materials GmbH
- Snam Abrasives Pvt. Ltd.
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Global Silicon Carbide Market: In-Depth Assessment on Key Segments
The global silicon carbide market is segmented on the basis of product, application and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared.
Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for silicon carbide has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous silicon carbide manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global silicon carbide market.
Some of the major competitors operating in the silicon carbide market are Dow Chemical Co., AGSCO Corporation, Saint-Gobain Ceramic Materials GmbH and others
Global Silicon Carbide Market – Scope Of The Report
The following report provides forecast and analysis of the global silicon carbide market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global silicon carbide market along with several macro-economic indicators.
This newly published and insightful report on silicon carbide sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global silicon carbide market.
The report also comprises the study of current issues with end users and opportunities for silicon carbide. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of silicon carbide manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the silicon carbide market provided in the report adds to the credibility of this exhaustive research study.
Global Silicon Carbide Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes.
Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the silicon carbide market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the silicon carbide market, which includes global GDP growth rate, various industries growth rate, such as chemical & materials, automotive, aerospace and others.
This report serves as an authentic resource of intelligence on the Silicon carbide market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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