The global market for silicon carbide is expected to reach USD 4.49 billion by 2020, according to a new study by Grand View Research,
Inc. Positive outlook on steel manufacturing, for which SiC is used as a
deoxidizing agent is expected to drive silicon carbide demand. In
addition, silicon carbide is an essential element in the manufacturing
of semiconductors which is expected to witness significant growth over
the next six years. Revitalizing automobile industry, especially in Asia Pacific, is also expected boost the demand for silicon carbide.
Steel and energy were the largest end
use application segments for SiC, accounting for 302 kilo tons of total
demand in 2013. Increasing demand for steel and energy in emerging
markets of India and China, driven by infrastructure development, is
expected to be a key factor for demand growth over the forecast period.
Silicon carbide is also extensively used in electronics and semiconductors applications, owing to its superior properties, that accounted for over 255 kilo tons of demand in 2013.
The report “Silicon Carbide Market Analysis, By Product (Black Silicon Carbide,
Green Silicon Carbide) By End-use (Steel & Energy, Automotive,
Aerospace & Aviation, Military & Defense, Medical &
Healthcare, Electronics & Semiconductors) And Segment Forecasts To
2020” is available now to Grand View Research customers and can also be
purchased directly at http://www.grandviewresearch.com/industry-analysis/silicon-carbide-market
Further key findings from the study suggest:
• Global silicon carbide demand was
1,060.1 Kilo tons in 2013 and is expected to reach 2,769.0 Kilo tons by
2020, growing at a CAGR of 15.2% from 2014 to 2020.
• Black silicon carbide is most dominant product, with demand estimated at 745 6 Kilo tons in 2013 due to its wider application scope in comparison to other forms of silicon carbide.
• Asia Pacific was the largest regional market for silicon carbide, with revenue exceeding USD 870 million in 2013. The presence of key end user industries such as steel and automotive is expected to boost demand in the region. In addition, the region is also expected to witness fastest growth, at an estimated CAGR of 16.8% from 2014 to 2020.
• Medical and healthcare end use application is expected to witness fastest growth at an estimated CAGR of 16.5% from 2014 to 2020. Increasing demand for advanced medical and healthcare in countries such as India, China, and Japan is expected to drive demand in this application.
• Key Companies in the market include AGSCO Corporation, Dow Chemical Company, Saint-Gobain Ceramics Materials GmbH, ESD-SIC b.v, Grindwell Norton Ltd.
• Black silicon carbide is most dominant product, with demand estimated at 745 6 Kilo tons in 2013 due to its wider application scope in comparison to other forms of silicon carbide.
• Asia Pacific was the largest regional market for silicon carbide, with revenue exceeding USD 870 million in 2013. The presence of key end user industries such as steel and automotive is expected to boost demand in the region. In addition, the region is also expected to witness fastest growth, at an estimated CAGR of 16.8% from 2014 to 2020.
• Medical and healthcare end use application is expected to witness fastest growth at an estimated CAGR of 16.5% from 2014 to 2020. Increasing demand for advanced medical and healthcare in countries such as India, China, and Japan is expected to drive demand in this application.
• Key Companies in the market include AGSCO Corporation, Dow Chemical Company, Saint-Gobain Ceramics Materials GmbH, ESD-SIC b.v, Grindwell Norton Ltd.
For the purpose of this study, Grand
View Research has segmented the global silicon carbide market on the
basis of product, end use application and region:
• Silicon Carbide Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Black Silicon Carbide
• Green Silicon Carbide
• Others (Coated SiC, Refractory SiC, Metallurgical and Metallurgical Briquettes, SiC Micro Grit)
• Silicon Carbide End Use Applications Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Steel & Energy
• Automotive
• Aerospace & Aviation
• Military & Defence
• Medical & Healthcare
• Electronics & Semiconductors
• Others
• Silicon Carbide Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
• Black Silicon Carbide
• Green Silicon Carbide
• Others (Coated SiC, Refractory SiC, Metallurgical and Metallurgical Briquettes, SiC Micro Grit)
• Silicon Carbide End Use Applications Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Steel & Energy
• Automotive
• Aerospace & Aviation
• Military & Defence
• Medical & Healthcare
• Electronics & Semiconductors
• Others
• Silicon Carbide Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View Research
Grand View Research, Inc. is a market
research and consulting company that provides off-the-shelf, customized
research reports and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and energy. With a deep-seated
understanding of varied business environments, Grand View Research
provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone:
Email: sales@grandviewresearch.com
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone:
Email: sales@grandviewresearch.com
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