USD 3.30 billion
Silicon Carbide Ceramics Market Size, Share, Growth Analysis, By Product(Black Silicon Carbide and Green Silicon Carbide), By Application(Steel, Automotive, Aerospace, Military & Defense), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2231 |
Region:
Global |
Published Date: April, 2024
Pages:
224
|Tables:
65
|Figures:
76
Silicon Carbide Ceramics Market Insights
Global Silicon Carbide Ceramics Market size was valued at USD 3.30 billion in 2019 and is poised to grow from USD 3.69 Billion in 2023 to USD 8.93 Billion by 2024, growing at a CAGR of 11.7% in the forecast period (2024-2031).
The demand for high performance materials is the major driver for the global silicon carbide ceramics market. The automotive, aerospace, electronics, and electrical industries demand materials with superior characteristics such as high thermal conductivity, mechanical strength, and corrosion resistance. Silicon carbide ceramics meet these needs, making them acceptable in materials. Global emphasis on energy efficiency and sustainability is fueling the demand for silicon carbide ceramics. These products increase energy efficiency and reduce emissions in various industries such as power generation, industrial roads and transportation. Resistant to high temperatures and harsh environmental conditions, silicon carbide ceramics contribute to the efficiency and durability of energy-efficient systems. Complex manufacturing and raw material costs account for the high cost of silicon carbide ceramics production. This destabilizes market dynamics, especially in price-sensitive industries where cost-effectiveness is critical. Manufacturers face challenges in balancing productivity with the demand for high-performance products.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Electrical & Electronics
Fastest Growth
Steel
Growth Rate
11.7% CAGR
Global Silicon Carbide Ceramics Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Silicon Carbide Ceramics Market Segmental Analysis
The global silicon carbide ceramics market is segmented by product, application and region. By product, the market is segmented into black silicon carbide and green silicon carbide. By application, the market is segmented into steel, automotive, aerospace, military & defense, electrical & electronics, healthcare, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Application
The electrical and electronics segment dominated the market in 2022 with a revenue share of over 26.0%. The material's increasing popularity in producing efficient electronic chips is expected to continue to be an important driver for the segment's growth. The unique characteristics of the product including high thermal resistance, high bandgap, high frequency performance and chemical stability can help its penetration in electrical and electronics industry.
The steel segment is the fastest growing in the market. The use of the material to produce turbine blades that are exceptionally resistant to high temperatures is likely to push energy efficiency, and the fuel consumption-reducing steel segment is set to register a steady CAGR during the prophetic period. When the material is used in an oxygen furnace, it helps to raise the temperature and provides additional energy for more scrap processing. The turbulence caused by the COVID-19 outbreak had a direct impact on the steel production plan for 2020. However, the steel industry has started to recover from 2021, which could support the market growth.
Analysis by Product
The black SiC product segment dominated the global market with a revenue share of over 54.0% by 2022. This product is available in varieties such as block, grain, powder etc. and electric furnace steel. The growing consensus on the use of electric furnaces to promote reduced consumption of natural resources is likely to contribute to its segmentation growth over the forecast period.
The green SiC device segment is expected to register the fastest CAGR during the forecast period. The product is defined by the strongest man-made minerals, which have high strength at extreme temperatures. This material is widely used in making special types of ceramics due to its high temperature resistance. The extensive use of special clays for metal-matrix composites, corrosion-resistant seals, pores, etc. is likely to have a positive impact on the growth of the green SiC segment during the forecast period.
Global Silicon Carbide Ceramics Market By Application (%)
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Silicon Carbide Ceramics Market Regional Insights
Asia Pacific is the dominating region in the market. Asia Pacific is a major production region for silicon carbide ceramics due to the large number of semiconductor electronics factories located in countries like China, Japan, South Korea, Taiwan etc. Also, the regional automotive, space growing industries silicon with various applications-supports the demand for carbide ceramics. Rapid industrialization and urbanization in Asia-Pacific is fueling the demand for energy efficient materials, driving the growth of the silicon carbide ceramics market in the region.
North America accounted for the largest volume share by 2022. The region is expected to register the third largest revenue CAGR in terms of revenue over the forecast period If growth of clean metals is emphasized large enough to support the requirements of the domestic steel industry. The processes used in steelmaking produce cleaner steel with lower carbon emissions. The Middle East & Africa region is estimated to witness a steady growth during the forecast period. Growth in downstream industries such as automotive, consumer goods, electronics and manufacturing in the Gulf countries is expected to contribute to the market's growth.
Global Silicon Carbide Ceramics Market By Geography
- Largest
- Fastest
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Silicon Carbide Ceramics Market Dynamics
Drivers
Increasing Demand for High-performance Materials
- The demand for high-performance materials is increasing in various industries such as automotive, aerospace, electronics, power generation etc. Silicon carbide ceramics with unique properties a in addition to high temperature, mechanical strength and corrosion friction resistance are highly desirable for critical applications -areas where these ceramic materials find applications in products such as brake discs, bearings, engine parts, and so on due to their resistance to high temperatures and harsh operating conditions. Driving demand for ceramics, because they offer high performance and efficient thermal management.
Focus on Energy Efficiency and Sustainability
- Globally, businesses are increasingly focusing on energy efficiency and sustainability. Silicon carbide ceramics play an important role in improving energy efficiency and reducing greenhouse gas emissions in electricity generation and industrial processes. These molds are used in applications such as heat exchangers, heating nozzles and inside refractive linings, due to their high thermal conductivity, thermal resistance also increases process efficiency and reduces energy consumption. Besides, the transition to renewable energy such as solar and wind energy is driving the demand for silicon carbide ceramics for power, electronics and grid infrastructure, as they provide increased performance and reliability in power-transmission and distribution systems.
Restraints
High Manufacturing Cost
- One of the tremendous restraints for the silicon carbide ceramics market is the excessive manufacturing cost as compared to standard materials like metals and plastics. The complex production manner and limited availability of raw substances make contributions to better manufacturing expenses, impacting marketplace adoption, especially in cost-sensitive industries.
Limited Skilled Labor and Technical Expertise
- The restrained availability of professional exertions in silicon carbide ceramics production and application poses a restraint on marketplace boom. The specialized knowledge and schooling required for coping with, and processing silicon carbide ceramics gift a barrier to entry for new market players and might constrain the scalability of production capacity.
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Silicon Carbide Ceramics Market Competitive Landscape
Leading market players are investing heavily in research and development to expand their product portfolios, which will help drive the silicon carbide ceramics market. Some key market players include Saint-Gobain, Imerys, Tokai Carbon Co., Ltd., Schunk Ingenieurkeramik GmbH, and Morgan Advanced Materials. Market participants also develop various strategy arts for their position expansion, where new products, alliances, mergers, acquisitions and collaborations along with other organizations and synergy growth are included in more business and growing growth in commercial operations- provide effective products.
Top Player’s Company Profiles
- 3M Company (United States)
- AGSCO Corporation (United States)
- Carborundum Universal Limited (India)
- Dow Chemical Company (United States)
- ESD-SIC b.v. (Netherlands)
- Fujimi Corporation (Japan)
- Gaddis Engineered Materials (United States)
- Grindwell Norton Limited (India)
- Henan Huaxi Furnace Refractory Co., Ltd. (China)
- Henan Yichuan Ruishi Abrasive Co., Ltd. (China)
- Hyperion Materials & Technologies (United States)
- Jiangsu Leyuan New Materials Group Co., Ltd. (China)
- Morgan Advanced Materials plc (United Kingdom)
- Norstel AB (Sweden)
- Renesas Electronics Corporation (Japan)
- Saint-Gobain S.A. (France)
- Showa Denko K.K. (Japan)
- Tianzhu Yutong Silicon Carbide Co., Ltd. (China)
- Washington Mills Electro Minerals Corporation (United States)
- Xiamen Powerway Advanced Material (China)
- Zibo Huanyu Grinding Material (China)
Recent Developments
- In September 2022, SK Siltron, a major producer of semiconductor wafers, announced a $1.65 billion investment through 2026 and a $0.7 billion wafer production expansion at the Gumi National Industrial Complex.
- In May 2022, SK Siltron revealed that it will expand production at the newly constructed USA Bay City plant, which is expected to produce more than 100,000 barrels of silicon carbide per year.
- In March 20223, 3 kV silicon carbide (SiC) power supplies introduced by Microchip Technology. Microchip Technology, a market leader in microcontroller, mixed-signal, analog, and flash IP solutions, will provide customers with high-performance capabilities. These power devices offer high performance, reliability and low resistance. These devices are lightweight, compact, and provide efficient energy solutions for various industrial applications including electrical transportation, renewable energy, aerospace, and other industries.
Silicon Carbide Ceramics Key Market Trends
- Integration of Advanced Technologies: One of the major trends shaping the global silicon carbide ceramics market is the inclusion of silicon carbide ceramics in the growing field of advanced technologies in various industries. Silicon carbide ceramics have unique properties such as high thermal conductivity, mechanical strength, and corrosion resistance, making them highly desirable for applications requiring high performance and reliability in a vehicle, the vehicle and advanced performance.
Silicon Carbide Ceramics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global silicon carbide ceramics market is growing exponentially due to demand for high-performance materials and focus on energy efficiency and sustainability. However, the market faces challenges of high production costs and limited skilled labor. Despite these limitations, the market is expected to grow gradually, driven by the expanding applications of silicon carbide ceramics in various industries. Asia Pacific is a major production region for silicon carbide ceramics due to the large number of semiconductor electronics factories located in countries like China, Japan, South Korea, Taiwan etc.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 3.30 billion |
| Market size value in 2024 | USD 8.93 Billion |
| Growth Rate | 11.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Silicon Carbide Ceramics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Silicon Carbide Ceramics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Silicon Carbide Ceramics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Silicon Carbide Ceramics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Silicon Carbide Ceramics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Silicon Carbide Ceramics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Silicon Carbide Ceramics Market Report Snapshots
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