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Silicon carbide also called as carborundum, is a semiconductor that consists of silicon and carbon. Naturally, it occurs as a very rare mineral moissanite and synthetically it is produced as SiC powder. Grains of silicon carbide can be bonded together by sintering process to form hard ceramics. Silicon carbide has wide range of applications that include car brakes, car clutches, LEDs, detectors, and ceramic plates in bulletproof jackets and vests.
Increasing demand for SiC semiconductors in electronic devices like LEDs, detectors and sensors shall drive the market. the growing adoption of renewable energy sources for power generation is expected to positively impact the market. Additionally, the increasing steel production is one of the major factor boosting the market.
However, there are cost-effective alternatives in market for silicon carbide. Gallium nitride is one of the substitute which is used in power modules as transistors. This is expected to hinder the market growth.
Key Market Driver -
Growing demand for SiC devices in electronics.
Key Market Restraint -
Availability of cost-effective alternatives.
Based on device, the global silicon carbide market is segmented into SiC discrete device and SiC bare die. Based on application, market is segmented into power grid devices, flexible ac transmission system, high-voltage, direct current system, power supplies and inverter, rf devices & cellular base station, lighting control system, ev charging station, and other applications.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global Silicon Carbide market consists of global & regional players operating. Some of the key players in the market include
Infineon Technologies AG, CREE, INC, ST Microelectronics N.V, Fuji Electric Co., Ltd, General Electric, GeneSiC Semiconductor Inc., Toshiba Corporation, Powerex Inc., and others. .
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia pacific is accounted for the largest market in 2018 attributed to the high consumption of silicon carbide for electric components. Additionally, government initiatives to support use of clean energy for vehicles shall support regional growth. North America and Europe is expected to show substantial growth attributed to large manufacturing base of semiconductor devices and substantial demand for EV hybrids. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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