Silicon Carbide - Global Strategic Business Report

The global market for Silicon Carbide was valued at US$1.6 Billion in 2024 and is projected to reach US$4.1 Billion by 2030, growing at a CAGR of 16.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Silicon Carbide market.

Global Silicon Carbide Market - Key Trends & Drivers Summarized

What Is Silicon Carbide and Why Is It Significant?

Silicon carbide (SiC) is a hard compound consisting of silicon and carbon. A semiconductor by nature, it stands out for its high thermal conductivity, and robust physical properties, including great strength at high temperatures, resistance to thermal shock, and superior hardness. This makes SiC an ideal material for a variety of demanding applications, especially in high-power, high-temperature environments. It is widely used in power electronics, such as in semiconductor devices used in electric vehicles and power supplies, as well as in abrasive and cutting applications due to its hardness.

How Is Silicon Carbide Transforming Industries?

The influence of silicon carbide on multiple industries is profound. In the automotive sector, SiC is increasingly used in power electronics components for electric vehicles (EVs) due to its efficiency in managing high voltages and reducing energy loss. This contributes to longer battery life and improved overall performance of EVs. In the aerospace industry, SiC is used in structural materials for mirrors, telescopes, and the thermal protection systems of space vehicles due to its ability to withstand extreme environmental conditions. Additionally, its application in industrial settings for manufacturing of hard-wearing machinery parts demonstrates SiC’s versatility across different high-stress applications.

What Advances Are Being Made in Silicon Carbide Technology?

Technological advancements in the production and application of silicon carbide continue to propel its adoption. Innovations in chemical vapor deposition (CVD) processes and other manufacturing techniques have significantly reduced the costs of producing SiC, making it more accessible for a broader range of applications. Researchers are also exploring ways to enhance the quality and capabilities of SiC through doping processes that alter its electrical properties to create more efficient semiconductor devices. Furthermore, the ongoing development of composite materials that integrate SiC with other materials is creating new opportunities in areas such as military armor and modern infrastructure.

What Drives the Expansion of the Silicon Carbide Market?

The growth in the silicon carbide market is driven by several factors, including the increasing demand for efficient power electronics, the expansion of the electric vehicles industry, and technological innovations in material science. SiC's superior properties, such as high heat resistance, durability, and thermal conductivity, make it ideal for use in high-power applications where traditional materials might fail. The automotive industry's shift toward EVs has particularly spurred demand for SiC in power electronics, as manufacturers seek to improve the efficiency and performance of their vehicles. Additionally, the growing renewable energy sector relies on SiC for durable, efficient power conversion equipment. These factors, combined with continued industrial innovation and expansion, forecast a dynamic growth trajectory for the SiC market, positioning it as a critical material in advancing modern technology.

Report Scope

The report analyzes the Silicon Carbide market, presented in terms of units. The analysis covers the key segments and geographic regions outlined below.

Segments: Product (Black SiC, Green SiC, Other Products); End-Use (Electrical & Electronics, Aerospace, Steel, Automotive, Military & Defense, Other End-Uses).

Geographic Regions/Countries: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Black SiC segment, which is expected to reach US$1.9 Billion by 2030 with a CAGR of a 15.2%. The Green SiC segment is also set to grow at 19.8% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $218.9 Million in 2024, and China, forecasted to grow at an impressive 19.4% CAGR to reach $1.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Silicon Carbide Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Silicon Carbide Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Silicon Carbide Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as DuPont de Nemours, Inc., General Electric Company, Fuji Electric Co., Ltd., Carborundum Universal Ltd., Aremco Products, Inc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 107 companies featured in this Silicon Carbide market report include:

• DuPont de Nemours, Inc.
• General Electric Company
• Fuji Electric Co., Ltd.
• Carborundum Universal Ltd.
• Aremco Products, Inc.
• Entegris, Inc.
• Applied Ceramics, Inc.
• Ceramtec GmbH
• Cotronics Corp.
• GAB Neumann GmbH
• Agsco Corporation
• FUTONG Group Co., Ltd.
• Crystal Mark, Inc.
• Bruckewell Technology Ltd.
• Composition Materials Company Inc.

Tariff Impact Analysis: Key Insights for 2025

Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.

The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.

What’s Included in This Edition:

• Tariff-adjusted market forecasts by region and segment
• Analysis of cost and supply chain implications by sourcing and trade exposure
• Strategic insights into geographic shifts

Buyers receive a free July 2025 update with:

• Finalized tariff impacts and new trade agreement effects
• Updated projections reflecting global sourcing and cost shifts
• Expanded country-specific coverage across the industry