Global Silicon Carbide (SiC) Market Analysis by Wafer Size, Application, Device type, Vertical, Region and segments forecast till 2033
The Global Silicon Carbide (SiC) Market valued at USD 993,500 million is to reach a value of USD 3441,120 million in 2033, growing at a CAGR of 16.80%.
Market Forecast in 2022
USD 993,500 million
Market Forecast in 2033
USD 3441,120 million
CAGR % 2023-2033
Product, end-user industry, company share, company heatmap, company Capacity Technology Product capacity, growth factors and more
Infineon Technologies AG, CREE, INC., ROHM Co. Ltd., STMicroelectronics N.V., Fuji Electric Co. Ltd., ON Semiconductor, General Electric Company, Toshiba Corporation, Renesas Electronics Corporation and Microchip Technology Incorporated.
Global Silicon Carbide (SiC) Market- Description
Silicon carbide is used as a deoxidizing agent in the steel industry & it is the prime raw material in refractories production. The refractories made of Silicon Carbide (SiC) release towering thermal conductivity that is 10 times higher than fireclay refractories. Therefore, the evolvement in steel production is likely to propel the demand for refractories, which in turn is expected to augment the growth of the market in near future. Furthermore, the growing utilization of silicon carbide in electric and hybrid electric vehicles (EV/HEV), as well as in automobile charging infrastructure, rail, motor drives, power supplies, and uninterruptible power supplies (UPS) which expected to accelerate the market growth over the forecast period.
The increased use of the product to manufacture refractory materials for the steel industry is projected to aid the market growth during the forecast period. Silicon carbide is used as a raw material for refractory on account of its high-temperature resistance. The refractory products are widely used in the linings of kilns, furnaces, and reactors in various industries, such as cast iron, steel, aluminium, and metal. The production growth in the aforementioned ferrous and non-ferrous industries is expected to drive the market for refractory materials. The restriction on movement coupled with social distancing impositions directly affected the productivity rate of domestic manufacturers.
Key Trends of Global Silicon Carbide (SiC) Market:
· Growing demand from the Semiconductor and Electronics Industry:
Silicon carbide is widely used in the manufacturing of semiconductors, due to its properties such as the ability to work at high voltage or high temperature or both and reduced form factor. Also, the increase in demand for Silicon carbide devices in the power electronics industry is likely to propel the global silicon carbide market growth during the forecast period. Growing investments by research institutes, government, private organizations, and industry players for rising silicon carbide production for meeting the high demand from various end-use industries accelerate the global silicon carbide market growth.
· High Cost of Silicon carbide
the high cost, as well as availability of cost-effective alternatives of SiC (Silicon carbide), are the major factors restraining the growth of the global silicon carbide market during the forecast period. Moreover, defects in material as well as issue related to the package is the other challenge faced by vendors associated with the silicon carbide market.
Segmental Analysis of Global Silicon Carbide (SiC) Market:
Based on Device Type:
• SIC Discrete Device
• SIC Diode
• SIC MOSFET
• SIC Bare Die
• SIC Module
SIC Discrete Device is further segmented into SIC Diode, SIC MOSFET and SIC Module. SIC Discrete Device is expected to dominate the market, during the analysis period.
Based on Wafer Size:
• 2 Inch
• 4 Inch
• 6 Inch and above
The 6 inches above segment is expected to dominate the market owing to its growing demand in the application segment of power supplies and inverters industry.
Based on Application:
• Power Grid Devices
• Flexible AC Transmission Systems (FACTs)
• High-Voltage, Direct Current Systems (HVCDs)
• Power Supplies and Inverters
• RF Devices & Cellular Base Stations
• Lighting Control Systems
• Industrial Motor Drives
• Flame Detectors
• EV Motor Drives
• EV Charging Stations
• Electronic Combat Systems
• Wind Turbine
• Solar Power Systems
• Nuclear, and
• Atomic Sciences
Based on Vertical:
• Energy & Power
• Renewable Power Generation
• Power Electronics
The electrical segment is estimated to post a fast revenue growth rate due to the increasing adoption of power modules in advanced semiconductor devices. Semiconductors built on silicon carbide hold a wider band-gap, superior thermal conductivity and enhanced critical electric field.
Geography Analysis of Global Silicon Carbide (SiC) Market:
The Global Silicon Carbide market is further segmented into five major countries- North America, Europe, South America, Asia-pacific and Middle East and Africa. The market in APAC held the largest size and is estimated to continue to do so during the forecast period. China, Japan, South Korea, and India are the major markets for EVs or HEVs in APAC. According to the IEA outlook report, China alone accounted for a share of 47% of the global sales of electric buses which contributed significantly to the dominance of APAC. Initiatives taken by several governments of countries in APAC to promote the use of these vehicles are expected to further drive the market in the near future.
Global Silicon Carbide (SiC) Market: Recent Developments
· In October 2021, Cree, a leading manufacturer of SiC-based products, announced plans to build a new 200mm SiC wafer manufacturing facility in Marcy, New York. The facility is expected to be operational by 2024 and will help expand the company's SiC capacity.
· In March 2021, STMicroelectronics announced plans to expand its SiC manufacturing capacity by investing over $1 billion in a new production facility in Italy. The facility is expected to be operational by 2025 and will help meet the growing demand for SiC-based products.
Global Silicon Carbide (SiC) Market: Key Companies
· Infineon Technologies AG
· CREE, INC.
· ROHM Co. Ltd.
· STMicroelectronics N.V.
· Fuji Electric Co. Ltd.
· ON Semiconductor
· General Electric Company
· Toshiba Corporation
· Renesas Electronics Corporation
· Microchip Technology Incorporated
Global Silicon Carbide (SiC) Market: Regional Scope
· Rest of Europe
· South Korea
· Rest of Asia Pacific
· Rest of South America
Middle East and Africa
· Saudi Arabia
· South Africa
· Rest of Middle East and Africa
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1. Global Silicon Carbide (SiC) Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Silicon Carbide (SiC) Market Definition & Description
1.3. Global Silicon Carbide (SiC) Market Scope and Market Estimation
1.3.1. Global Silicon Carbide (SiC) Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023-2033)
1.3.2. Global Silicon Carbide (SiC) Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033
1.4. Market Segmentation
1.4.1. Device Type of Global Silicon Carbide (SiC) Market
1.4.2. Wafer Size of Global Silicon Carbide (SiC) Market
1.4.3. Application of Global Silicon Carbide (SiC) Market
1.4.4. Vertical of Global Silicon Carbide (SiC) Market
1.4.5. Region of Global Silicon Carbide (SiC) Market
2. Executive Summary
2.1. Global Silicon Carbide (SiC) Market Industry Trends under COVID-19 Outbreak
2.1.1. Global COVID-19 Status Overview
2.1.2. Influence of COVID-19 Outbreak on Global Silicon Carbide (SiC) Market Industry Development
2.2. Market Dynamics
2.2.4. Impact Analysis of Drivers and Restraints
2.3. Pricing Trends Analysis & Average Selling Prices (ASPs)
2.4. Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s Five Forces Analysis
2.5.1. Bargaining Power of Suppliers
2.5.2. Bargaining Power of Buyers
2.5.3. Threat of Substitutes
2.5.4. Threat of New Entrants
2.5.5. Competitive Rivalry
2.6. Value Chain / Ecosystem Analysis
2.7. PEST Analysis
2.8. Russia-Ukraine War Impacts Analysis
2.9. Economic Downturn Analysis
2.10. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region
3. Global Silicon Carbide (SiC) Market Estimates & Historical Trend Analysis (2020 - 2022)
4. Global Silicon Carbide (SiC) Market Estimates & Forecast Trend Analysis, By Device Type
4.1. Global Silicon Carbide (SiC) Market Revenue (US$ Mn) Estimates and Forecasts, By Device Type, 2023 to 2033
4.1.1. SIC Discrete Device
4.1.2. SIC Diode
4.1.3. SIC MOSFET
4.1.4. SIC Bare Die
4.1.5. SIC Module
5. Global Silicon Carbide (SiC) Market Estimates & Forecast Trend Analysis, By Wafer Size
5.1. Global Silicon Carbide (SiC) Market Revenue (US$ Mn) Estimates and Forecasts, By Wafer Size, 2023 to 2033
5.1.1. 2 Inch
5.1.2. 4 Inch
5.1.3. 6 Inch and above
6. Global Silicon Carbide (SiC) Market Estimates & Forecast Trend Analysis, By Application
6.1. Global Silicon Carbide (SiC) Market Revenue (US$ Mn) Estimates and Forecasts, By Application, 2023 to 2033
6.1.1. Power Grid Devices
6.1.2. Flexible AC Transmission Systems (FACTs)
6.1.3. High-Voltage, Direct Current Systems (HVCDs)
6.1.4. Power Supplies and Inverters
6.1.5. RF Devices & Cellular Base Stations
6.1.6. Lighting Control Systems
6.1.7. Industrial Motor Drives
6.1.8. Flame Detectors
6.1.9. EV Motor Drives
6.1.10. EV Charging Stations
6.1.11. Electronic Combat Systems
6.1.12. Wind Turbine
6.1.13. Solar Power Systems
6.1.16. Nuclear, and
6.1.17. Atomic Sciences
7. Global Silicon Carbide (SiC) Market Estimates & Forecast Trend Analysis, By Vertical
7.1. Global Silicon Carbide (SiC) Market Revenue (US$ Mn) Estimates and Forecasts, By Wafer Size, 2023 to 2033
7.1.1. Energy & Power
7.1.3. Renewable Power Generation
7.1.5. Power Electronics
8. Global Silicon Carbide (SiC) Market Estimates & Forecast Trend Analysis, By Region
8.1. Global Silicon Carbide (SiC) Market Revenue (US$ Mn) Estimates and Forecasts, By Region, 2023 to 2033
8.1.1. North America
8.1.3. Asia Pacific
8.1.4. Middle East & Africa
8.1.5. South America
9. North America Silicon Carbide (SiC) Market: Estimates & Forecast Trend Analysis
9.1. North America Silicon Carbide (SiC) Market Assessments & Key Findings
9.1.1. North America Silicon Carbide (SiC) Market Introduction
9.1.2. North America Silicon Carbide (SiC) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
188.8.131.52. Based on Device Type
184.108.40.206. Based on Wafer Size
220.127.116.11. Based on Application
18.104.22.168. Based on Vertical
22.214.171.124. By Country
126.96.36.199.1. The U.S.
10. Europe Silicon Carbide (SiC) Market: Estimates & Forecast Trend Analysis
10.1. Europe Silicon Carbide (SiC) Market Assessments & Key Findings
10.1.1. Europe Silicon Carbide (SiC) Market Introduction
10.1.2. Europe Silicon Carbide (SiC) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
10.1.2.1. Based on Device Type
10.1.2.2. Based on Wafer Size
10.1.2.3. Based on Application
10.1.2.4. Based on Vertical
10.1.2.5. By Country
10.1.2.5.7. Rest of Europe
11. Asia Pacific Silicon Carbide (SiC) Market: Estimates & Forecast Trend Analysis
11.1. Asia Pacific Market Assessments & Key Findings
11.1.1. Asia Pacific Silicon Carbide (SiC) Market Introduction
11.1.2. Asia Pacific Silicon Carbide (SiC) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
188.8.131.52. Based on Device Type
184.108.40.206. Based on Wafer Size
220.127.116.11. Based on Application
18.104.22.168. Based on Vertical
22.214.171.124. By Country
126.96.36.199.5. South Korea
188.8.131.52.7. Rest of Asia Pacific
12. Middle East & Africa Silicon Carbide (SiC) Market: Estimates & Forecast Trend Analysis
12.1. Middle East & Africa Market Assessments & Key Findings
12.1.1. Middle East & Africa Silicon Carbide (SiC) Market Introduction
12.1.2. Middle East & Africa Silicon Carbide (SiC) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
184.108.40.206. Based on Device Type
220.127.116.11. Based on Wafer Size
18.104.22.168. Based on Application
22.214.171.124. Based on Vertical
126.96.36.199. By Country
188.8.131.52.2. Saudi Arabia
184.108.40.206.4. South Africa
220.127.116.11.5. Rest of Middle East & Africa
13. South America Silicon Carbide (SiC) Market: Estimates & Forecast Trend Analysis
13.1. South America Market Assessments & Key Findings
13.1.1. South America Silicon Carbide (SiC) Market Introduction
13.1.2. South America Silicon Carbide (SiC) Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
18.104.22.168. Based on Device Type
22.214.171.124. Based on Wafer Size
126.96.36.199. Based on Application
188.8.131.52. Based on Vertical
184.108.40.206. By Country
220.127.116.11.4. Rest of South America
14. Competition Landscape
14.1. Global Silicon Carbide (SiC) Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants
14.2. Global Silicon Carbide (SiC) Market Concentration & Company Market Shares (%) Analysis, 2022
15. Company Profiles
15.1. Infineon Technologies AG
15.1.1. Company Overview & Key Stats
15.1.2. Financial Performance & KPIs
15.1.3. Product Portfolio
15.1.4. Business Strategy & Recent Developments
* Similar details would be provided for all the players mentioned below
15.2. CREE, INC.
15.3. ROHM Co. Ltd.
15.4. STMicroelectronics N.V.
15.5. Fuji Electric Co. Ltd.
15.6. ON Semiconductor
15.7. General Electric Company
15.8. Toshiba Corporation
15.9. Renesas Electronics Corporation
15.10. Microchip Technology Incorporated
16. Research Methodology
16.1. External Transportations / Databases
16.2. Internal Proprietary Database
16.3. Primary Research
16.4. Secondary Research
16.7. Report FAQs
17. Research Findings & Conclusion
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