Silicon Carbide (SiC) Market Trends, Size, Share, Growth And Future Demand 2023 To 2029 | Exactitude Consultancy

Friday, March 10, 2023 at 8:06am UTC

Luton, Bedfordshire, United Kingdom, March 10, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Silicon Carbide (SiC) Market.

The Global Silicon Carbide (SiC) Market at a CAGR of 7%, and it is expected to reach above USD 787.44 million by 2029, over the forecast period.

Market Overview:

The market report Silicon Carbide (SiC) Market offers a thorough examination of market dynamics with a strong emphasis on secondary research. The Research clarifies the present state of the market's size, share, demand, growth trends, and future projections. The Research on the global Silicon Carbide (SiC) market examines the strategic models and future projections. The research assesses the strategy models used by the leading international players as well as the market size of the Global Silicon Carbide (SiC) Market Research. The report also assesses the market's size in terms of revenue for the anticipated time frame. 

Silicon carbide (Sic) is a compound of silicon and carbon that exhibits excellent properties such as high thermal conductivity, low thermal expansion, high hardness, and high strength. It is used in a wide range of applications, including power electronics, automotive, aerospace, and defence.

The Sic market is driven by the increasing demand for power electronics devices, such as power modules and inverters, that can operate at high temperatures and high voltages. The use of Sic-based devices can result in significant improvements in energy efficiency and reduce the size and weight of power electronic systems.

The automotive industry is a major market for Sic, as the demand for electric vehicles (EVs) continues to grow. Sic-based power electronics are being used in EVs to increase efficiency, reduce charging times, and extend the range of the vehicles.

The aerospace and defence industries are also significant markets for Sic, as the material is used in a variety of applications, including aircraft engines, gas turbines, and rocket engines. Sic’s high strength and thermal properties make it an ideal material for use in extreme environments.

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The main competitors in the global Market are:
COI Ceramics, Washington Mills, SGL Group, Specialty Material, Advanced Ceramic Fibers, Toyo Tanso, GE Aviation, Haydale, Saint Gobain, American Elements, Kyocera SGS, Sandvik are some of the key players in Global Silicon Carbide (SiC) Market.

Recent News:

  • As of my knowledge cutoff of September 2021, the global silicon carbide (SiC) market was projected to grow at a significant rate in the coming years. SiC is a compound made up of silicon and carbon and is used in a wide range of applications, including power electronics, semiconductors, and abrasives.
  • The market growth was attributed to several factors, including the increasing demand for SiC-based power electronics in electric vehicles, renewable energy systems, and other high-power applications. Additionally, the growing adoption of SiC in the semiconductor industry was expected to drive market growth.
  • However, there were also challenges facing the SiC market, including supply chain disruptions due to the COVID-19 pandemic and fluctuations in raw material prices. Despite these challenges, the SiC market was expected to continue its growth trajectory in the coming years.
  • It is worth noting that since my knowledge cutoff, there may have been significant developments in the SiC market that I am not aware of.

What Information does this report contain?  

Historical data coverage: 2017 to 2022;

Growth Projections: 2023  To 2029.  

Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.  

6-7year performance forecasts: major segments covering applications, top products and geographies.  

Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Access the full report description, summary, figure table, graph, etc. at:

Silicon Carbide (SiC) Market Report Highlights:

By Type
  • SIC Fiber
  • SIC Cutting Tools
By Application
  • Ceramic Composite Material
  • Polymer Matrix Composites
  • Metal Composites Material
  • Non-Composite Material
By End User
  • Aerospace
  • Energy & Power
  • Automotive Healthcare
  • Electrical & Electronics
  • Others
By Region
  • North America (U.S., Canada)
  • Europe (United Kingdom, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • South America
  • Middle East and Africa
Key Market PlayersCOI Ceramics, Washington Mills, SGL Group, Specialty Material, Advanced Ceramic Fibers, Toyo Tanso, GE Aviation, Haydale, Saint Gobain, American Elements, Kyocera SGS, Sandvik & More.

The research highlights important participants and manufacturers as well as the most recent tactics, including new product releases, collaborations, joint ventures, technology, segmentation of regional and industrial competitiveness, profit and loss ratios, and investment suggestions. a precise evaluation of efficient production and advertising methods, as well as market share, growth rate, size, revenue, and value chain analysis.

The "World Silicon Carbide (SiC) Market Research Report" is an in-depth analysis of the global industry with a focus on the current situation of the global Silicon Carbide (SiC) market. The research provides important data on the worldwide Silicon Carbide (SiC) Market's manufacturers market state and is a great resource for businesses and people interested in the sector.

Some of the key trends in the Silicon Carbide (SiC) market include:

  1. Increasing demand for electric vehicles: The growing demand for electric vehicles is driving the adoption of SiC-based power electronics devices. SiC-based devices can operate at higher temperatures and voltages than traditional silicon-based devices, resulting in higher energy efficiency, reduced charging times, and longer range for electric vehicles.
  2. Expansion in the power electronics industry: The power electronics industry is expanding rapidly, driven by the increasing demand for energy-efficient devices in various applications such as renewable energy, electric vehicles, and industrial automation. SiC-based devices are gaining popularity due to their high efficiency and ability to operate at high temperatures and voltages.
  3. Increasing adoption in aerospace and defense applications: SiC is increasingly being used in aerospace and defense applications due to its high strength and thermal properties. SiC is used in aircraft engines, gas turbines, and rocket engines, among other applications.

Silicon Carbide (SiC) Market regional market (regional production, demand and country forecast): -
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and more.

The research broadside examines the global market's past, present, and future performance. The paper also examines the competitive environment at the moment, the dominant business models, and the probable advancement of offers from important companies in the upcoming years.

Key aspects of the report include:
- Comprehensive examination of the global Silicon Carbide (SiC) market - Variable sector market dynamics.
- Market segmentation in depth.
- Sizes of the markets in terms of volume and value over time, both recent and future
- Latest changes and trends - Competitive Environment of the Global Silicon Carbide (SiC) Market.
- Strategy and products offered by key players.
- Prospective Markets and Isolated Areas with Possible Growth
- A Comparative Analysis of Barcode Mobile Computers and the World Barcode-Scanner Market.

Reasons To Buy Global Silicon Carbide (SiC) Report:
1. Current and future outlook of the Global Silicon Carbide (SiC) Market in developed and emerging markets.
2. Analysis of various market perspectives with the help of Porter's five forces analysis.
3. The segment that should dominate the Global Silicon Carbide (SiC) Market.
4. Regions that are expected to see the fastest growth during the forecast period.
5. Identifies the latest developments, global Silicon Carbide (SiC) Market shares and strategies used by major market players.

Furthermore, the market Research affirms the major global players in the Global Silicon Carbide (SiC) Market. Their key marketing strategies and advertising techniques have been highlighted to offer a clear understanding of the Global Market.

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