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Global Silicon Carbide (SiC) Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Silicon Carbide (SiC) Market, By Product (Black Silicon Carbide, Green Silicon Carbide), Device (SIC Discrete Devices, SIC Bare Die), Wafer Size (2 Inch, 4 Inch, 6-Inch and Above), Application (RF Device and Cellular Base Station, Power Grid Device, Flexible Ac Transmission Systems, High-Voltage, Direct Current, Power Supply and Inverter, Lighting Control, Industrial Motor Drive, Flame Detector, EV Motor Drive, EV Charging, Electronic Combat System, Wind Energy, Solar Energy, Others), Vertical (Telecommunication, Energy and Power, Automotive, Renewable Power Generation, Defense, Power Electronics, Others) – Industry Trends and Forecast to 2029

 

Silicon Carbide (SiC) Market

Market Analysis and Size

According to the Semiconductor Industry Association (SIA), global semiconductor industry sales will reach USD 439.0 billion in 2020, up 6.5 percent from USD 412.3 billion in 2019. Furthermore, global sales in December 2020 totaled USD 39.2 billion, an 8.3 percent increase over December 2019 and 2.0 percent less than the total in November 2020. Because of its properties, such as the ability to work at high temperatures or high voltages, or both, and its small form factor, silicon carbide is widely used in semiconductor manufacturing. Furthermore, global demand for smart consumer electronics is increasing at an exponential rate, creating opportunities for the silicon carbide market to expand. These factors have further increased the overall growth for the market.

Global Silicon Carbide (SiC) Market was valued at USD 899.00 million in 2021 and is expected to reach USD 2788.56 million by 2029, registering a CAGR of 15.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product (Black Silicon Carbide, Green Silicon Carbide), Device (SIC Discrete Devices, SIC Bare Die), Wafer Size (2 Inch, 4 Inch, 6-Inch and Above), Application (RF Device and Cellular Base Station, Power Grid Device, Flexible Ac Transmission Systems, High-Voltage, Direct Current, Power Supply and Inverter, Lighting Control, Industrial Motor Drive, Flame Detector, EV Motor Drive, EV Charging, Electronic Combat System, Wind Energy, Solar Energy, Others), Vertical (Telecommunication, Energy and Power, Automotive, Renewable Power Generation, Defense, Power Electronics, Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Infineon Technologies AG (Germany), Cree, Inc. (U.S.), ROHM Co., Ltd. (Japan), Microsemi (U.S.),  STMelectronics (Switzerland), Fuji Electric Co., Ltd.  (Japan), Semiconductor Components Industries, LLC (U.S.) General Electric (U.S.), Toshiba Corporation (Japan), Renesas Electronics Corporation (Japan), Microchip Technology Inc.,(U.S.), Grindwell Norton Limited (India), Dow (U.S.), CUMI (India), Entegris (U.S.)

Market Opportunities

  • Implementation of favorable government policies
  • Advent of advanced manufacturing processes advent of advanced manufacturing processes

Market Definition

Silicon carbide, refers to the compound that acts as a steel production deoxidizing agent. Silicon carbide is primarily dissolved in oxygen furnace for generating huge amounts of hot steel together with steel scrap. The low sulfur, nitrogen, silicomanganese or ferrosilicon, and aluminum content of the item leads it to a cost-effective material. The compound possesses three times the band gap, ten times the critical strength of the electric field and three times the thermal conductivity compared to silicon.

Silicon carbide (SiC) Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • High Demand for SiC Devices in power electronics

Power electronics are critical components of the global electrical infrastructure. There are numerous power devices available in the power electronics industry that convert alternating current to direct current (or vice versa) in systems. They are also intended to reduce energy loss and improve system efficiency. SiC devices, such as SiC diodes and modules, are silicon-carbide compound semiconductors. They have a wide bandgap, a high drift velocity, a high breakdown voltage, a large critical electric field, and high thermal conductivity, as well as the ability to work at higher current densities and temperatures.

  • Rising Interest in Hybrid and Electric Vehicles

Hybrid and electric vehicles are gaining popularity because they are more digitally connected than standard vehicles. They also reduce the use of fossil fuels such as gasoline and diesel, as well as global warming and environmental damage, and provide superior fuel efficiency. Furthermore, as a result of COVID-19, the automotive industry has seen a slowdown in demand for hybrid, electric, and autonomous vehicles. However, in the post-COVID-19 period, their demand is likely to outstrip that of any other vehicle type.

The rapid industrialization and urbanization, increase in steel production and rise in demand for refractories will further propel the growth rate of silicon carbide (SiC) market. Additionally, significant growth in the steel industry around the world is one of the key factors driving the market's positive outlook. SiC is widely used in the production of stainless steel because it increases yield and purifies molten steel. Furthermore, widespread product adoption for the production of various semiconductors and other electronic components is propelling market growth. It can operate under high voltage and temperature conditions and is thus used in the production of electronic vehicles (EVs). The expansion of the automotive industry along with the increase in defense budgets are other market growth determinants which are projected to bolster the growth of the market.

Opportunities

  • Advance Manufacturing Process and Favorable Policies

Furthermore, the advent of advanced manufacturing processes further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the implementation of favorable government policies promoting the use of renewable energy resources for power generation will further expand the future growth of the silicon carbide (SiC) market.

Restraints/Challenges

  • High Material and Fabrication Costs 

SiC materials are more expensive than Si raw material because they are commercially synthesised in high-temperature environments, whereas Si can be easily extracted from naturally occurring silica. Several factors, such as the smaller number of foundry and fab facilities, contribute to the increased cost of device fabrication for foundries and fabs. Furthermore, the final stages of assembly, testing, and packaging are more expensive due to a lack of advanced technology-based suitable equipment.

  • Material Defects

Micro-sized holes known as micropipes are found across the crystals of SiC materials, particularly crystals. SiC devices are susceptible to defects such as dislocations, prototype inclusions, and stacking faults during the manufacturing of larger wafers. These defects occur as a result of a non-optimal balance of silicon and carbon precursors, as well as local pressure or temperature instability. These flaws reduce device efficiency and degrade electrical characteristics. This factor will challenge the silicon carbide (SiC) market growth rate.

This silicon carbide (SiC) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the silicon carbide (SiC) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Silicon carbide (SiC) Market

The recent outbreak of coronavirus had a significant impact on the silicon carbide (SiC) market. In the midst of COVID-19, the growing implementation of SiC devices in automotive and power device applications, as well as the increasing demand for hybrid and electric vehicles, creates a strong demand for silicon carbide for efficient industrial operations. Key market players are implementing new strategies to mitigate the impact of the Covid-19 pandemic. Mining industries in China resumed normal operations in the third quarter of 2020, with enterprises indicating that workers would return soon. Furthermore, iron ore producers are thought to be the least affected. The steel and iron ore industries have recovered globally, which is expected to lessen the impact of the Covid-19 pandemic on the silicon carbide industry.

Recent Development

  • In June 2021, Cree, Inc. (US) has signed an agreement with Shenzhen Gospower Digital Technology Co., Ltd. (China), a national high-tech enterprise and market leader in power electronics converters. CREE provides Wolfspeed®650 V silicon carbide MOSFETs for next-generation Common Redundant Power Supply (CRPS) solutions under this contract.
  • In January 2020, SK Siltron signed a Memorandum of Understanding (MOU) with Daegu Gyeongbuk Institute of Science and Technology for assistance with parallel computing capabilities in the R&D of'single crystal growth technology.' The MOU is expected to have a positive effect on future R&D activities required to respond to Japan's export restrictions on high-tech materials because the focus is on the provision of advanced supercomputing technology, which is required to develop wafers (silicon substrates) – essential materials for semiconductor production.

Global Silicon carbide (SiC) Market Scope

The silicon carbide (SiC) market is segmented on the basis of product, device, wafer size, application, and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Black Silicon Carbide
  • Green Silicon Carbide

 Device

  • SIC Discrete Devices
  • SIC Bare Die

 Wafer Size

  • 2 Inch
  • 4 Inch
  • 6-Inch and Above

 Application

  • RF Device and Cellular Base Station,
  • Power Grid Device
  • Flexible Ac Transmission Systems
  • High-Voltage
  • Direct Current
  • Power Supply and Inverter
  • Lighting Control
  • Industrial Motor Drive
  • Flame Detector
  • EV Motor Drive
  • EV Charging
  • Electronic Combat System
  • Wind Energy
  • Solar Energy
  • Others

Vertical

  • Telecommunication
  • Energy and Power
  • Automotive
  • Renewable Power Generation
  • Defense
  • Power Electronics
  • Others

Silicon carbide (SiC) Market Regional Analysis/Insights

The silicon carbide (SiC) market is analyzed and market size insights and trends are provided by country, product, device, wafer size, application, and vertical as referenced above.

The countries covered in the silicon carbide (SiC) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high level of increase in investments in infrastructure and growing manufacturing sector in countries such as India and China within the region.

North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the growing aerospace and defense industries and established automotive industry in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Silicon carbide (SiC) Market Share Analysis

The silicon carbide (SiC) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to silicon carbide (SiC) market.

Some of the major players operating in the silicon carbide (SiC) market are

  • Infineon Technologies AG (Germany)
  • Cree, Inc. (U.S.)
  • ROHM Co., Ltd. (Japan)
  • Microsemi (U.S.)
  • STMelectronics (Switzerland)
  • Fuji Electric Co., Ltd.  (Japan)
  • Semiconductor Components Industries, LLC (U.S.) 
  • General Electric (U.S.)
  • Toshiba Corporation (Japan)
  • Renesas Electronics Corporation (Japan)
  • Microchip Technology Inc.,(U.S)
  • Grindwell Norton Limited (India)
  • Dow (U.S.)
  • CUMI (India)
  • Entegris (U.S.)

Research Methodology: Global Silicon carbide (SiC) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

Global Silicon Carbide (SiC) Market segmented By Application such as RF Device & Cellular Base Station, Power Grid Device, Flexible Ac Transmission Systems, High-Voltage, Direct Current, Power Supply and Inverter, Lighting Control, Industrial Motor Drive, Flame Detector, EV Motor Drive, EV Charging, Electronic Combat System, Wind Energy, Solar Energy, Others.
The major players covered in the silicon carbide (SiC) market report are Infineon Technologies AG, Cree, Inc., ROHM SEMICONDUCTOR, STMicroelectronics, TOSHIBA CORPORATION, GENERAL ELECTRIC, Saint-Gobain, Fuji Electric Co., Ltd., Microsemi, Central Semiconductor Corp., SANKEN ELECTRIC CO.,LTD., Bruckewell Technology Corp Taiwan, Ascatron AB, Littelfuse, Inc., Graphensic, Norstel AB, United Silicon Carbide Inc. , Renesas Electronics Corporation, Dow, GeneSiC Semiconductor Inc., and Global Power Technologies Group, among other domestic and global players
Europe is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the growing aerospace and defense industries and established automotive industry in the region.
This silicon carbide (SiC) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.