Silicon carbide (SiC) refers to a crystalline compound of carbon & silicon. It is generated synthetically. SiC is also called carborundum. It can’t be attacked by alkalis, acids, or molten salts. The major driver of the silicon carbide market is quality features of SiC. These are low density, resistance to oxidation, tremendous resistance to thermal shock, and high hardness & strength.
Silicon carbide finds applications in various industries. These are steel & energy, aerospace & aviation, military & defence, automotives, medical & healthcare, and electronics & semiconductors. One of the other significant factors, positively impacting market demand comprises higher demand for steel processing & manufacturing, alongside its recycling units.
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Replacement of pure silicon technology semiconductors is predicted to steer demand for the silicon carbide market. Low tolerance across its applications and high accuracy required for making components act as market hindrances. With SiC made instruments turning costlier owing to low manufacturing volumes & yields, SiC growth is hindered.
The market is trifurcated into products, applications, and geographies. Product segments are black, green, coated, refractory, metallurgical briquettes, metallurgical, and micro grits. Green and black are the leading products and should observe stable demand in the future. Black SiC will gain substantial shares during the forecast period.
This can be attributed to its usage in steel manufacturing and ceramics. Based on applications (mentioned above) of the silicon carbide market, steel & energy is the fastest expanding segment. Electronics & semiconductors are projected to propel market demand in the years ahead.
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This would happen on account of bigger critical electric fields, broader band gaps, and greater thermal conductivity for SiC. Automotives encompass high performance ceramic brake discs and SiC usage as an oil additive. In view of geographies, Asia Pacific held the biggest volume shares.
The same will be credited to escalating sales across the industries of automotives, electronics & semiconductors, and steel & energy. This region could witness high growth due to urbanization and infrastructural spending. Europe and North America should experience robust SiC demand owing to their growing end-users.
The worldwide silicon carbide market is relatively concentrated. Its key players comprise AGSCO Corporation, ESK-SIC GmbH, Carborundum Universal, Dow Chemical Company, and Snam Abrasives.
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