USD 34.90 Million
Global Ultra High Purity Silicon Carbide Market Size, Share, Growth Analysis, By Application(High-Temperature Ceramics, Optoelectronics), By End-user(Aerospace and Defense, Semiconductors) - Industry Forecast 2024-2031
Report ID:
SQMIG15J2057 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
63 |
Figures:
75
Global Ultra High Purity Silicon Carbide Market Insights
Global Ultra High Purity Silicon Carbide Market size was valued at USD 34.90 Million in 2022 and is poised to grow from USD 40.06 Million in 2023 to USD 120.76 Million by 2031, at a CAGR of 14.79% during the forecast period (2024-2031).
In the larger silicon carbide industry, the ultra-high purity silicon carbide market owns a significant chunk. This market has grown in recent years, furthering overall industrial expansion. The market produces and supplies silicon carbide materials that are very pure. These materials have a very low number of impurities. Thus they are suited to produce various high-performance components like semiconductors, electronics, and advanced ceramics.
Ultra-high purity silicon carbide is a resourceful material in the aforementioned industries. It provides excellent heat conduction and mechanical properties, along with stability in high temperatures. These industries need the precision and culmination of the previously iterated factors to adhere to their rigid quality requirements.
The market’s growth is driven by a series of factors. One of the reasons for its steady growth is the technological advancements in global industries. These industries include aerospace, power electronics, and automotive. The aforementioned industries need materials that can handle extreme conditions without compromising performance. This fuels the growth of the ultra-high purity silicon carbide market. Other factors fueling demand are the expansion of the renewable energy source and EV industries, which need these materials for application in battery components and power electronics.
Additionally, the semiconductor industry has impacted the growth of this market. Industrial manufacturing in this sector requires the market’s product in epitaxial growth processes. The semiconductor production process also needs these products as a substrate material that is utilized in the creation of next-generation devices. These materials are growing in popularity as stringent quality standards in these industries materials with a lower number of impurities and defects.
However, challenges such as the high cost of production, complex manufacturing processes, and limited availability of ultra-high purity raw materials can impact market expansion. Despite these obstacles, the increasing demand for advanced materials with exceptional performance characteristics positions the ultra-high purity silicon carbide market for continued growth as industries seek to push the boundaries of technological innovation.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Semiconductor
Fastest Growth
Power electronics
Growth Rate
14.79% CAGR
Global Ultra High Purity Silicon Carbide Market ($ Bn)
Country Share for North America Region (%)
Global Ultra High Purity Silicon Carbide Market Size By Application ($ Bn)
Global Ultra High Purity Silicon Carbide Market Size By Application (%)
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Global Ultra High Purity Silicon Carbide Market Segmental Analysis
The Global Ultra High Purity Silicon Carbide Market is segmented on the basis of Application, End-User, and Region. Based on Application the market is segmented as, Semiconductors, High-Temperature Ceramics, Optoelectronics, and Power Electronics. Based on Ens-user the market is segmented as, Aerospace and Defense, Semiconductors, Energy and Power Generation. Regional the market is segmented as, North America, Asia Pacific, Latin America, and Middle East & Africa (MEA).
Analysis By Application
The “Semiconductor” segment was dominating the market. The semiconductor industry heavily relies on ultra-high purity silicon carbide for its exceptional electrical and thermal properties, making it a crucial material for manufacturing advanced electronic components. The demand for high-performance semiconductors, especially in emerging technologies like electric vehicles, renewable energy systems, and data centers, has driven the prominence of this segment.
The fastest-growing segment in the ultra-high purity silicon carbide market was the “Power electronics” sector. As industries transition towards energy-efficient technologies and renewable energy sources, the need for high-performance power electronics components has surged. Ultra high purity silicon carbide's excellent thermal conductivity, high voltage capability, and low power losses have positioned it as a key material for power devices like diodes and transistors. Moreover, electric vehicles and industrial automation require efficient power conversion, further boosting the demand for ultra-high purity silicon carbide in power electronics.
Analysis By End-user
The semiconductor industry was notably dominating the ultra high purity silicon carbide market. The semiconductor sector extensively relies on ultra high purity silicon carbide for its exceptional electrical properties, high thermal conductivity, and resistance to extreme conditions. The demand for advanced semiconductors for various electronic devices, including power electronics and optoelectronic components, drove the prominence of this segment. The continuous evolution of electronics, including the development of next-generation semiconductors and devices, has been a key driver in sustaining the semiconductor industry's dominance.
The fastest-growing segment was likely the energy and power generation sector. As the globe targets on the creation of energy-efficient technologies and renewable energy sources, power electronics, energy storage systems, and photovoltaic applications have boosted the demand for ultra-high purity silicon carbide. The energy and power generation segment has seen this expansive growth due to the part ultra-high purity silicon carbide plays in improving the efficiency and reliability of power generation and storage technologies.
Global Ultra High Purity Silicon Carbide Market By Application, 2023 (%)
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Global Ultra High Purity Silicon Carbide Market Regional Insights
In the ultra-high purity silicon carbide market, North America has emerged as the largest region. The United States particularly has greatly contributed to market expansion in this region thanks to its flourishing semiconductor industry, advanced technology sector, and heavy investments made in defense and aerospace. North America’s position can be credited to the widespread use of ultra-high purity silicon carbide in applications such as power electronics, production of semiconductor, and manufacturing of aerospace components. This region’s supremacy is owed to the United States' emphasis on rigorous R&D and technological innovation.
On the other hand, the Asia-Pacific region has come in behind North America at a close second in the ultra-high purity silicon carbide market. Regional nations such as China, South Korea, and Japan heavily contributed to this segment’s market growth. The Asia-Pacific region’s growing presence in aerospace and defense and an influential semiconductor manufacturing sector has expanded the market in the region. The region’s prominence in the market is owed to factors like increasing production of electronic devices, technological advancements, and the movemnet towards energy-efficient solutions
Global Ultra High Purity Silicon Carbide Market By Region, 2024-2031
- Largest
- Fastest
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Global Ultra High Purity Silicon Carbide Market Dynamics
Drivers
Growing Semiconductor Industry:
- The demand for high-performance electronic devices in the ever-evolving semiconductor industry has pushed the demand for ultra-high purity silicon carbide. Advanced semiconductors that are widely used in optoelectronic devices and power electronics can make use of this material's unique electrical properties and thermal conductivity, making it an essential addition to the production of semiconductors.
Renewable Energy and Power Electronics:
- The growing demand for energy-efficient battery systems and power electronics is a direct result of the global shift towards renewable energy sources and the increasing adoption and production of electric vehicles. These technologies need ultra high purity silicon carbide as they can help in enhancing the reliability and efficiency of these technologies, further contributing to market growth.
Restraints
Competition from Alternatives:
- Though ultra-high purity silicon carbide is unique on its own terms, in some applications, it might face competition from other materials that provide similar properties or cost advantages. This can play an adverse impact on market penetration in certain sectors.
Technological Challenges:
- The maintenance and production of the technology required for manufacturing ultra high purity silicon carbide that have a lower content defects and minimal defects can be complicated and thus it requires a large amount of research and development efforts, which can be a time-constraint and financial burden.
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Global Ultra High Purity Silicon Carbide Market Competitive Landscape
A mix of research-driven companies, innovative startups, and established manufacturers make up the competitive landscape of the ultra high purity silicon carbide market, which is a heated up scene as all participants target getting a share of this specialized market segment. Companies in this landscape focus on research and development to produce ultra high purity silicon carbide materials with exceptional quality, minimal impurities, and consistent performance characteristics. Established players leverage their technological expertise and experience to cater to the stringent demands of sectors such as semiconductors, aerospace, and energy. Collaboration with end-user industries, strategic partnerships, and a strong emphasis on quality control are key factors that enable these companies to maintain their positions.
Top Player’s Company Profile
- Cree, Inc.
- Tangshan SunFar Silicon Industries Co., Ltd.
- ESK Ceramics GmbH & Co. KG
- Ferrotec Holdings Corporation
- Rohm Co., Ltd..
- Washington Mills
- Sinoma Advanced Materials Co., Ltd.
- Ortech Advanced Ceramics
- Norstel AB
- Xiamen Powerway Advanced Material Co., Ltd.
- CoorsTek Inc
- Entegris, Inc.
- ESD-SIC BV
- II-VI Incorporated
- Universal Photonics, Inc.
- LPE SpA
- Shanghai SICCAS High Technology Corporation
Recent Developments
- In January 2023, Cree Inc.,an American developer and manufacturer of wide-bandgap semiconductors, reported the development of a new type of ultra-high purity silicon carbide that is more heat-resistant and has a lower wear out rate.
- In February 2023, Wolfspeed, an American producer and developer of wide-bandgap semiconductors, announced the upscaling of its production capacity for ultra-high purity silicon carbide.
- In March 2023, ON Semiconductor, a designer, manufacturer, and supplier of semiconductor products and solutions, announced the development and production of a new power converter that uses ultra-high purity silicon carbide.
Global Ultra High Purity Silicon Carbide Key Market Trends
- Growing Semiconductor Industry Demand: The demand for UHP SiC materials is on the rise as advanced semiconductor devices that can be applied in various industries, including 5G technology, power electronics, and electric vehicles are being sought. The production of high-performance semiconductor components needs UHP SiC materials’ one-of-a-kind thermal and electrical.
- Rise of Electric Vehicles (EVs): A surge in the demand for UHP SiC in the automotive industry has been witnessed due to the rising adoption of electric vehicles. The importance of UHP SiC materials in the EV sector is justified thanks to its ability to improve the efficiency of EV power electronics and handle high temperatures.
Global Ultra High Purity Silicon Carbide Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Ultra high purity silicon carbide market analysis; the market is characterized by the demand for exceptionally pure materials catering to applications in semiconductors, aerospace, energy, and more. This market is segmented into industries that require superior properties, including the semiconductor sector's need for high-performance electronic components and the aerospace industry's demand for resilient materials. Regions like North America and Asia-Pacific were prominent due to their technological advancements and energy sector growth. Key drivers included the expansion of the semiconductor industry, the rise of renewable energy technologies, and the demand for robust materials in aerospace and defense. As industries continue to seek high-quality materials for advanced technologies, the ultra-high purity silicon carbide market is positioned for sustained growth. However, for the latest insights, I recommend consulting more recent sources to understand the current state of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 34.90 Million |
| Market size value in 2031 | USD 120.76 Million |
| Growth Rate | 14.79% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| 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 |
|
| 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 Global Ultra High Purity Silicon Carbide 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 Global Ultra High Purity Silicon Carbide 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 Global Ultra High Purity 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 Global Ultra High Purity 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.
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 Global Ultra High Purity Silicon Carbide Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Ultra High Purity 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.
Global Ultra High Purity Silicon Carbide Market Report Snapshots
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