Sillicon Carbide Market Scope
The growing steel industry is anticipated to drive the growth as the silicon carbide (SiC) is used as a deoxidizing agent in the steel industry and is a major raw material in refractories production. Silicon carbide acts as a steel production deoxidizing agent. To generate huge amounts of hot steel together with steel scrap, it is primarily dissolved in an oxygen furnace. Various factors such as the surge in demand for motor drives, compact system size, and the increase in utility of silicon carbide in the cellular base station and radiofrequency devices are some factors, which is driving the growth of the silicon carbide market during the forecast period.
According to AMA, the Global Sillicon Carbide market is expected to see growth rate of 16.1%Global silicon carbide market (SiC) is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of silicon carbide market (SiC) for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Sillicon Carbide market throughout the predicted period.
CREE Incorporated (United States), Fairchild Semiconductor International Inc. (United States), Genesic Semiconductor Inc.(United States), Infineon Technologies AG (Germany), Microsemi Corporation (United States), Norstel AB (Sweden), Renesas Electronics Corporation (Japan), ROHM Co. Ltd. (Japan), STMicroelectronics N.V (Switzerland) and Toshiba Corporation (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Sillicon Carbide market , by 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 and Others) and Region with country level break-up.
On the basis of geography, the market of Sillicon Carbide has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Trend:
Increasing Government, Private Organizations, Research Institutes, and Industry Players Investments to Increase SiC Production
Market Growth Drivers:
Growing Demand for SiC Devices in Power Electronics Industry and SiC-Based Devices Facilitate Size-Reduction
Challenges:
SiC Power Devices Material Defects, Designing, and Packaging Issues
Restraints:
High Material and Fabrication Cost
Opportunities:
Rising Demand for Electric Vehicle (EV) Motors and Growing Demand From Automotive and Power Devices Industries
Market Leaders and their Expansionary Development Strategies
In May 2019, OpenGate Capital has completely acquired the silicon-carbon division from Saint-Gobain. This firm will be renamed as Fiven A/S. This purchase will help in the company’s expansion and will increase revenue.
In January 2019, Cree, Inc. has partnered with STMicroelectronics and signed a silicon carbide wafer supply agreement. This collaboration involves the supply of Cree’s epitaxial wafers and advanced 150mm silicon carbide bare to STMicroelectronics. This collaboration will help to grow the SiC business.
Key Target Audience
Government Regulatory Bodies, Regulatory Bodies, Private Research Organization and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.