Silicon Carbide Market
Report ID: SQMIG45I2302
Report ID: SQMIG45I2302
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Report ID:
SQMIG45I2302 |
Region:
Global |
Published Date: August, 2025
Pages:
192
|Tables:
146
|Figures:
72
Global Silicon Carbide Market size was valued at USD 3.71 Billion in 2024 and is poised to grow from USD 4.11 Billion in 2025 to USD 9.26 Billion by 2033, growing at a CAGR of 10.7% in the forecast period (2026–2033).
The global silicon carbide market growth is due to the rise in demand for energy-efficient power devices, electric vehicles (EVs), and technology utilization in semiconductor applications. The product types within the market are powders, wafers, fibers, and ceramics; the powders and wafers take the lead, as these products show the most traction in the power electronics industry and semiconductor industry.
The applications of SiC are mainly seen in automotive, aerospace, LED lighting, industrial machinery, and electronics; the automotive and power electronics applications are the fastest growing because of the adoption of EVs and expansion of renewable energy sources. North America and Europe have established a stronghold in high-end applications, including semiconductors and electric vehicle (EV) components.
Yet, overall growth is limited for SiC due to the high costs of production, limited sources of raw materials, and the complexities of producing high quality SiC wafers. The major players in the industry like Cree Inc (now Wolfspeed), ROHM Co, STMicroelectronics, Infineon Technologies, II-VI Incorporated, and ON Semiconductor are all looking for innovative products, partnerships, and capacity growth in the industry.
Growing at a rapid pace is the Asia-Pacific region, largely due to the tremendous increase in automotive production, electronics manufacturing, and renewable energy implementation occurring there. The market is being influenced by trends concerning wide bandgap semiconductor devices, adoption of silicon carbide (SiC) in EV power electronics, and a lot of research and activities surrounding how to create SiC that is cost effective.
How is AI Influencing Government Operations?
Artificial Intelligence (AI) is demonstrating an immense influence across all sectors in 2024, resulting in enhanced efficiency, innovation, and productivity. In the area of health care, researchers at Institut Curie are advancing the field by using AI-powered tools called Copilot to assist the routine tasks of scientists, to enable more dedication of the scientists' time to cancer research. In education, institutions like St Mary MacKillop College in Canberra are realizing the benefits of generative AI for lesson planning, while also embracing the added personalization of support with lesson plans to address teacher shortages.
Meanwhile, government agencies have doubled their use of AI over the preceding year, increasing the automation of tasks to decrease operational costs and enhance the speed of mission delivery to constituents.
Market snapshot - 2026-2033
Global Market Size
USD 3.35 Billion
Largest Segment
Automotive
Fastest Growth
Electronics & Semiconductors
Growth Rate
10.7% CAGR
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The global silicon carbide market is segmented into device, wafer size, type, production method, application and region. Based on device, the market is segmented into SiC discrete device, SiC MOSFETs, SiC diodes and SiC module. Based on wafer size, the market is segmented into up to 150 mm and >150 mm. Based on type, the market is segmented into black silicon carbide, green silicon carbide and others. Based on production methods, the market is segmented into acheson process, physical vapor transport (PVT), chemical vapor deposition (CVD) and other production methods. Based on application, the market is segmented into steel & energy, automotive, aerospace & aviation, military & defense, electronics & semiconductors and medical & healthcare. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
What Factors Contribute to the Market Dominance of Black Silicon Carbide?
As per the global silicon carbide market forecast, the silicon carbide market is currently dominated by black silicon carbide. It is produced through a carbon reduction process and is known for its high level of hardness and thermal conductivity. Along with its cost-effectiveness, durability and toughness, black SiC can be used in a greater number of industrial applications, such as grinding, cutting, sandblasting, polishing and for refractories. There has been a strong supply chain history with black SiC. Black SiC can be used in multiple industries, and it is widely used in existing or traditional manufacturing practices; this has helped black SiC retain its market dominance.
According to the global silicon carbide market analysis, green silicon carbide is the fastest-growing segment of the market. Growth for green SiC can be attributed to its improved purity, sharpness and hardness compared to black SiC. Green SiC is produced according to advanced electric furnace manufacturing methods, whereby only high-purity raw materials are utilized. Green SiC is commonly employed for precision high-performance applications, including semiconductor manufacturing and advanced ceramics, aerospace components and precision grinding tools. The rising demand for high-quality, high-efficiency materials for electronic, aerospace and cutting-edge industrial applications is driving rapid demand for this segment.
How is Silicon Carbide Used in Electric Vehicles and Automotive Applications?
Automotive holds the largest global silicon carbide market share, primarily driven by the rapid adoption of electric and hybrid vehicles and the increasing integration of SiC-based power electronics. The best operating efficiency of SiC is advantageous when operating at elevated voltages and temperatures by decreasing energy loss and improving thermal management, allowing for smaller, lighter components. The global desire to decrease vehicular emissions and enhance fuel efficiency would be beneficial to SiC, emplacing it in an ingrained and dominant position in the market.
As per the global silicon carbide market outlook, electronics and semiconductors are the fastest-growing segments for SiC. Demand is growing for high-performance energy-efficient devices including power modules, high-voltage transistors, diodes, and renewable energy inverters. SiC is valuable due to faster switching speeds, better thermal conductivity, and greater voltage tolerance than standard silicon.
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What is the Current Status of the Silicon Carbide Market in North America?
As per industry analysis, North America dominates the silicon carbide market, with significant demand from the aerospace, automotive, construction, and industrial end-user verticals. By leveraging established chemical manufacturing systems and superior R&D frameworks, the region is especially adept at using new innovations related to performance, weight, and sustainability. Companies are investing in innovative solutions in automated fiber placement, hybrid composites, and bio-based resins in support of evolving industrial demands.
Silicon Carbide Market in the U.S.
As per industry analysis, the U.S. has a stronghold on North America, primarily because of its established industrial base and high demand for applications in the aerospace, automotive and industrial markets. Growth is driven by light weight carbon-fiber-composites and specialty resin systems that advance performance and operational efficiency.
Silicon Carbide Market in Canada
In Canada, there is a focus on sustainable high-performance composites especially in the aerospace, transportation, and infrastructure sectors. The fibre manufacturers are adopting increasing amounts of bio-based fibres and recycled contents to comply with national sustainability initiatives.
How Is the Silicon Carbide Market Growing in Asia-Pacific?
The Asia-Pacific region is forecasted to highlight growth potential, largely spurred by ongoing industrialization, urbanization, and increased demand for lightweight, high-strength materials in transportation, aerospace and building. Numerous countries in the region continue to make substantial investment in polymer composites, often balancing costs with high end performance of materials.
Silicon Carbide Market in Japan
Japan had continued growth in its market due to its advancing high-performance materials for aerospace, electronics and even automotive. There is an ongoing commitment to working with thermally stable and durable composites; and potential processing/technological advancements that will enhance manufacturing efficiency and performance.
Silicon Carbide Market in South Korea
South Korea is positioning itself to be a regional lead in regard advanced composites and automotive, aerospace and consumer electronics. Their R&D emphasis is on bio-based fibers, high-performance resins, and only the best composites, with the intention of lowering imported content and supporting sustainable production.
What is the Silicon Carbide Market Landscape in Europe?
Europe remains a key market due to strict environmental regulations, sustainability goals, and a mature chemicals and materials industry. The demand for lightweight, durable, and sustainable composites continues to evolve, particularly for automotive, aerospace, infrastructure, and industrial applications.
Silicon Carbide Market in Germany
As per regional outlook, Germany leads Europe with strong chemical production, R&D capabilities, and manufacturing capacity. The market is seeing increasing adoption of recycled, biodegradable, and high-performance composites across automotive, aerospace, and industrial sectors.
Silicon Carbide Market in the U.K.
As per regional forecast, renewable content and premium high-performance composites are driving growth in the U.K. The automotive, construction, and packaging sectors are standing on eco-friendly fibers and natural resins to meet sustainability targets for their products, making better environmentally friendly decisions comply with regulations they are required to meet.
Silicon Carbide Market in Italy
Italy is seeing driven demand on their aerospace, automotive, and packaging sectors increasing. Manufacturers are focusing on natural, recyclable and functional composites. Many of the manufacturers are driven by consumer preferences and adhere to environmentally sustainable regulatory standards that focus on durability and still maintain product performance.
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Silicon Carbide Market Drivers
Growing Demand for Energy-Efficient Power Devices
Expansion of Electric Vehicles and Renewable Energy Applications
Silicon Carbide Market Restraints
High Production Costs
Limited Raw Material Availability
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The silicon carbide industry is expected to remain highly competitive, driven by strategic mergers, partnerships, and investments aimed at expanding production capacity and meeting the growing demand for energy-efficient power devices.
As per market strategies, in December 2024, the U.S. Commerce Department reached a preliminary agreement with Bosch for up to $225 million in subsidies for SiC power semiconductors produced in Roseville, California. With the funding from the Commerce Department, Bosch is making a $1.9 billion investment aimed at transforming the manufacturing facility to produce the SiC chips required to bring necessary materials to market for electric vehicles, telecommunications, and the defense market by 2026.
Several new startups are entering the silicon carbide market to satisfy the increased demand for high-performance power electronics and energy-efficient products. Through their research on advanced SiC wafers, components, and manufacturing methods, these companies have developed efficiencies and reduced energy losses to facilitate next-generation electric vehicles, renewable energy solutions, and industrial applications.
Top Player’s Company Profiles
Recent Developments in Silicon Carbide Market
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.
According to SkyQuest analysis, the global silicon carbide market continues to show significant growth and development due to rising demand for energy-efficient power devices and the increase in electric vehicle and renewable energy applications. SiC provides increased thermal conductivity, higher breakdown voltage, and lower thermal resistance compared with silicon-based technologies and is therefore required for applications such as electric vehicle inverters, high-performance power electronics, and industrial energy systems. However, the main barrier for SiC adoption remains the high production costs to produce SiC semiconductor devices and the limited availability of high purity raw silicon carbide. The market is also being supported by market trends such as wide band gap semiconductor devices, hybrid SiC technologies, and the adoption of advanced artificial intelligence (AI) based manufacturing and quality control technologies.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 3.71 Billion |
| Market size value in 2033 | USD 9.26 Billion |
| Growth Rate | 10.7% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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 |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Silicon Carbide 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 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.
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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 Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Silicon Carbide 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.
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