Silicon carbide is synthetically produced crystalline compound of carbon and silicon carbide is not attacked by any alkalis, molten salts or acids. Silicon carbide’s superior properties like wear resistance, oxidation resistance, low thermal expansion and low density will impact the overall market over the forecast period. Increased demand for steel manufacturing and steel processing along with its recycling units is the major driver for the market.
Also, augmenting substitution for current pure technology semiconductors is anticipated to drive the market. Low level of tolerance and high precision required for manufacturing development are the restraining factor in the industry.
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On the basis of different types of products, the market is segmented into categories like metallurgical, green, micro grit, black and metallurgical briquettes. Green and black silicon carbides are the dominant product segment in the silicon carbide industry. Rising use of black silicon carbide in ceramic, steel manufacturing, refractory and abrasive wheel market will increase the market demand over the coming years.
Fastest growing application segment in silicon carbide market are steel and energy. SiC are useful for furnace and bearings parts owing to the high sublimation temperature. Properties like high temperature strength, hardness and high thermal resistance are useful in grinding wheels in cloths products and abrasive paper. Electronics and semiconductors are other applications anticipated to boost the market demand.
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Higher thermal conductivity, larger critical electric field and wide band gap for SiC is projected to drive the demand. Silicon devices operate at high voltage and temperatures and are replacing pure silicon devices. Furthermore, they also provide high current and high power density. These devices also reduce electricity losses owing to the switching and conduction thereby providing higher efficiency in electronic systems. Automotive applications use an oil additive to decrease emissions, friction and harmonics and include high performance ceramic brake discs.
In terms of volume, Asia Pacific led the regional market owing to the increasing the sales in several driver segments like energy and steel, automotive and electronics and semiconductors. Asia Pacific market is driven by augmenting infrastructure and industrialization spending. Europe and North America silicon carbide market is likely to grow in line with industries standards.
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