Silicon carbide (SiC) market to grow at a CAGR of 12.33% from 2022 to 2027

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04 Aug, 2023, 16:30 ET

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NEW YORK, Aug. 4, 2023 /PRNewswire/ -- The global silicon carbide (SiC) market size is estimated to grow by 2.57 million tons from 2022 to 2027, according to Technavio. The market is expected to grow at a CAGR of 12.33% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The increase in demand for SiC fibers is driving market growth. SiC fibers have high heat resistance, chemical stability, and modulus. In addition, they are lightweight and durable, which makes them appropriate for various aerospace-related applications. The focus on the modernization of defense aircraft fleets by various countries has increased the demand for aircraft materials. Therefore, composites such as SiC fibers are used in aircraft manufacturing. These factors will contribute to the market growth during the forecast period. - Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and the forecast period (2023-2027). Download Sample Report in minutes!

The silicon carbide (SiC) market covers the following areas:

The report on the silicon carbide (SiC) market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

Silicon Carbide (SiC) Market 2023-2027 - Market Dynamics

Leading trends influencing the market

Major challenges hindering the market growth

Silicon Carbide (SiC) Market 2023-2027 : Market Segmentation

Technavio has segmented the market based on application (steel and energy, electronics, automotive, aerospace and defense, and medical) and product (black SiC, green SiC, and others).

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

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Silicon Carbide (SiC) Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 12.33%

Market growth 2023-2027

2.57 million tons

Market structure

Fragmented

YoY growth 2022-2023(%)

11.66

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 43%

Key countries

US, China, India, Japan, and Russia

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AGSCO Corp., ASUZAC Inc., CeramTec GmbH, CoorsTek Inc., ESD SiC bv, ESK SiC GmbH, Gaddis Inc., Henan Yicheng New Energy Co. Ltd., Hongwu International Group Ltd., Imerys S.A., KYOCERA corp., Miller and Co., Morgan Advanced Materials Plc, Murugappa Group, Saint Gobain, SNAM Abrasives Pvt. Ltd., STMicroelectronics NV, Dow Inc., Tokai Carbon Co. Ltd., and Xiamen Powerway Advanced Material Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio