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According to the latest market research of Insight Partners on "Silicon Carbide Market Forecast to 2027 – Impact of COVID-19 and Global Analysis – By Type and End Use Industry", the market is valued at USD 712.85 million in 2019 and is expected to reach It will reach US$1.81056 billion in 2027; from 2020 to 2027, it is expected to grow at a compound annual growth rate of 12.5%. The report focuses on the key factors driving market growth and the main players and their development in the market.
Number of charts
North America; Europe; Asia Pacific; Latin America; Multilateral Environmental Agreements
United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecasts, company rankings, competitive landscape, growth factors and trends
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Silicon carbide, also known as emery, is a semiconductor material widely used in the electronics and semiconductor industries. The physical hardness of silicon carbide makes it suitable for use as an abrasive in processes such as honing, water jet cutting, grinding, and sandblasting. It is also used as a component of pumps used for drilling and extracting petroleum in oil field applications. The growing demand for silicon carbide in various application industries has led to increased investment in its production by manufacturers, governments and research institutions.
The surge in the electronics and semiconductor industries will affect the global silicon carbide concentrate market
Silicon carbide is a semiconductor, which is widely used in the electronics and semiconductor industries as a substitute for silicon. It provides greater breakdown electric field strength, band gap, and thermal conductivity, while achieving wider p-type and n-type control required for device construction. For example, the band gap of silicon is approximately 1.12, and the band gap of silicon carbide is approximately 3.26. Similarly, the thermal conductivity of silicon carbide is 1490 W/mK, which is significantly higher than the thermal conductivity of silicon-150 W/mK. Most silicon carbide is used to make diodes for power supplies and hybrid modules (such as PV7). According to statistics cited by the Semiconductor Industry Association (SIA), from October 2019 to October 2020, global semiconductor sales increased by 6%, and the market value reached 39 billion U.S. dollars. In addition, according to the prediction of the World Semiconductor Trade Statistics (WSTS) organization, 2021 may be a promising year for semiconductor companies. According to WSTS, compared with sales in 2020, global semiconductor sales in 2021 are expected to increase by 8.4%. According to the analysis of Insight Partners, the global electronics industry is expected to achieve an annual growth rate of 5-6% from 2020 to 2021, and the growth in North America and the Asia-Pacific region is expected to be higher than that of other regions during the same period. Therefore, these promising statistics describe the growth of the electronics and semiconductor industries, making them a lucrative market segment for suppliers in the global silicon carbide market.
The impact of COVID-19 on the silicon carbide market
As of December 2020, the United States, Brazil, India, Russia, Spain, and the United Kingdom are among the most affected countries in terms of confirmed cases and reported deaths. Due to lockdowns, travel bans and business closures, COVID-19 has been affecting the economies and industries of various countries. Chemicals and materials are one of the major industries in the world. Due to the outbreak, the supply chain was disrupted, technical activities were cancelled, and offices were closed. China is the global manufacturing center and the largest supplier of raw materials in various industries. The shutdown of factories in China is affecting the global supply chain and negatively affecting the manufacturing, delivery schedule and sales of various materials. Many companies have announced that they may delay product delivery and future sales decline. In addition, the global travel bans imposed by countries in Europe, Asia and North America are inhibiting business cooperation and cooperation opportunities. Therefore, these factors have been inhibiting the growth of the chemical and materials industry and other markets related to the industry.
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Silicon Carbide Market: By Type
According to the type, the silicon carbide market is divided into black silicon carbide and green silicon carbide. The black silicon carbide segment will occupy a larger market share in 2019, and it is expected that the green silicon carbide segment will achieve a higher compound annual growth rate in the market during the forecast period. Black silicon carbide is an extremely hard man-made mineral with high thermal conductivity and high strength at high temperatures (such as 1000°C). The strength of SiC is 7.5 times that of alumina. The elastic modulus of SiC is about 410 GPa, and it can operate with the required strength at temperatures up to 1600°C; in addition, it does not melt at room temperature, but dissociates at 2600°C. Black silicon carbide is usually provided in block, gain and powder form. It is used as bonding and industrial abrasives, coated abrasives, refractory materials and ceramics, and refractory materials and ceramics. Because of its low cost, black silicon carbide powder is widely used for grinding non-ferrous metal materials, finishing tough materials and filling ceramic parts.
Silicon carbide market: competitive landscape and key developments
Some of the participants operating in the silicon carbide market are Fiven ASA, AGSCO Corp, Carborundum Universal Limited, ESD-SIC, ESK-SIC GmbH, Futong Industry Co. Limited, Electro Abrasives, LLC, Washington Mills, Tifor BV, and Grindwell Norton Co., Ltd.
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