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Asia Pacific Silicon Carbide Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type and End-Use Industry

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    Report

  • May 2021
  • Region: Asia Pacific
  • The Insight Partners
  • ID: 5331752
UP TO OFF until Jun 30th 2024
The silicon carbide market in Asia Pacific is expected to grow from US$ 436.40 million in 2019 to US$ 1,118.92 million by 2027; it is estimated to grow at a CAGR of 12.6% from 2020 to 2027. Silicon carbide is a crystalline compound of silicon and carbon. Distinguishing physical and chemical properties ensure its use in various industries. The physical hardness of silicon carbide makes it fit for use as an abrasive in processes such as honing, water jet cutting, grinding, and sand blasting. On the other hand, its ability to withstand high temperature makes it suitable for in the manufacturing of ceramic brake discs for sports cars. Silicon carbide offers high thermal conductivity, thus allowing the dissipation of frictional heat generated between two rubbing interfaces. On the back of this ability, silicon carbide also finds applications in the aerospace and defense industry, specifically in bulletproof vests and pump shaft sealing (as seal ring material). Silicon carbide is also used in oilfield applications as components of pumps used to drill and extract oil. The high surface hardness of silicon carbide is the major factor due to which it is widely used in oilfield applications; this property results in lower wear rates of silicon-carbide-based components, compared to its metal counterparts. Moreover, its unique electrical properties, silicon carbide is also being used in power generation applications.

In case of COVID-19 outbreak, countries in Asia Pacific, especially India, reported an unprecedented rise in the number of confirmed cases, which led to the discontinuation of silicon carbide manufacturing activities. Other chemical and materials manufacturing sector has negatively impacted the demand for silicon carbide during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to the discontinuation of silicon carbide components manufacturing projects, thereby reducing the demand for silicon carbide. Similar trend was witnessed in other Asia Pacific countries, such as Australia, Japan, and China. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

Based on type, the black silicon carbide segment led the silicon carbide market in 2019. Black silicon carbide is an extremely hard man-made mineral that possesses high thermal conductivity along with high strength at elevated temperatures, e.g., at 1000°C, SiC is 7.5-times stronger than aluminum oxide. SiC has a modulus of elasticity of ~410 GPa and can operate with the desired strength at temperatures up to 1600°C; also, it does not melt at normal temperature but dissociates at 2600°C. Black silicon carbide is usually available in the form of blocks, gains, and powder. It is employed as bonded and industrial abrasives, coated abrasives, refractories and ceramics, and refractories and ceramics. Black silicon carbide powder is widely utilized for grinding nonferrous materials, finishing tough and hard materials, and filling up ceramic parts due to its lower cost.

The overall Asia Pacific silicon carbide market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Asia Pacific silicon carbide market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific silicon carbide market. Fiven ASA; Carborundum Universal Limited; Futong Industry Co. Limited; Electro Abrasives, LLC; and Grindwell Norton Ltd. are among the player operating in the market.

Reasons to Buy
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific silicon carbide market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific silicon carbide market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the silicon carbide market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Asia Pacific Silicon Carbide Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Expert Opinion
5. Asia Pacific Silicon Carbide Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth of the Electronics and Semiconductors Industries
5.1.2 Wide Range of Applications
5.2 Market Restraints
5.2.1 High Cost of Raw Materials
5.3 Market Opportunities
5.3.1 An Upsurge in the Focus on Investments, Product Innovations, Expansion, Partnerships, and Acquisitions
5.4 Future Trends
5.4.1 Rapid Adoption of Electric Vehicles
5.5 Impact Analysis of Drivers and Restraint
6. Silicon carbide - Asia Pacific Market Analysis
6.1 Silicon carbide Market Overview
6.2 Asia Pacific Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Million)
7. Asia Pacific Silicon Carbide Market Analysis - By Type
7.1 Overview
7.2 Silicon Carbide Market, By Type (2019 and 2027)
7.3 Black Silicon Carbide
7.3.1 Overview
7.3.2 Black Silicon Carbide: Silicon carbide Market - Revenue and Forecast to 2027 (US$ Mn)
7.4 Green Silicon Carbide
7.4.1 Overview
7.4.2 Green Silicon Carbide: Silicon carbide Market - Revenue and Forecast to 2027 (US$ Mn)
8. Asia Pacific Silicon Carbide Market Analysis - By End-Use Industry
8.1 Overview
8.2 Silicon Carbide Market, By End-use industry (2019 and 2027)
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive: Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Mn)
8.4 Aerospace and Aviation
8.4.1 Overview
8.4.2 Aerospace and Aviation: Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Mn)
8.5 Military and Defense
8.5.1 Overview
8.5.2 Military and Defense: Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Mn)
8.6 Electronics and Semiconductors
8.6.1 Overview
8.6.2 Electronics and Semiconductors: Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Mn)
8.7 Medical and Healthcare
8.7.1 Overview
8.7.2 Medical and Healthcare: Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Mn)
8.8 Steel
8.8.1 Overview
8.8.2 Steel: Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Mn)
8.9 Others
8.9.1 Overview
8.9.2 Others: Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Mn)
9. Asia Pacific Silicon Carbide (SiC) Market - Country Analysis
9.1 Overview
9.1.1 Asia Pacific: Silicon Carbide (SiC) Market, by Key Country
9.1.1.1 China: Silicon Carbide (SiC) Market - Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 China: Silicon Carbide (SiC) Market, Type
9.1.1.1.2 China: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.2 Australia: Silicon Carbide (SiC) Market - Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Australia: Silicon Carbide (SiC) Market, Type
9.1.1.2.2 Australia: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.3 Japan: Silicon Carbide (SiC) Market - Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Japan: Silicon Carbide (SiC) Market, Type
9.1.1.3.2 Japan: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.4 India: Silicon Carbide (SiC) Market - Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 India: Silicon Carbide (SiC) Market, Type
9.1.1.4.2 India: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.5 South Korea: Silicon Carbide (SiC) Market - Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 South Korea: Silicon Carbide (SiC) Market, Type
9.1.1.5.2 South Korea: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.6 Rest of Asia Pacific: Silicon Carbide (SiC) Market - Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of APAC: Silicon Carbide (SiC) Market, Type
9.1.1.6.2 Rest of APAC: Silicon Carbide (SiC) Market, End-Use Industry
10. Overview - Impact of COVID-19 on Asia Pacific Silicon Carbide Market
10.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 Fiven ASA
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.2 Carborundum Universal Limited
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.3 Futong Industry Co. Limited
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.4 Electro Abrasives, LLC
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.5 Grindwell Norton Ltd.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
12. Appendix
12.1 About the Publisher
12.2 Word Index
List of Tables
Table 1. Asia Pacific Silicon carbide Market - Revenue and Forecast to 2027 (USD Million)
Table 2. China Silicon Carbide (SiC) Market, by Type - Revenue and Forecast to 2027 (USD Million)
Table 3. China Silicon Carbide (SiC) Market, by End-Use Industry - Revenue and Forecast to 2027 (USD Million)
Table 4. Australia Silicon Carbide (SiC) Market, by Type - Revenue and Forecast to 2027 (USD Million)
Table 5. Australia Silicon Carbide (SiC) Market, by End-Use Industry - Revenue and Forecast to 2027 (USD Million)
Table 6. Japan Silicon Carbide (SiC) Market, by Type - Revenue and Forecast to 2027 (USD Million)
Table 7. Japan Silicon Carbide (SiC) Market, by End-Use Industry - Revenue and Forecast to 2027 (USD Million)
Table 8. India Silicon Carbide (SiC) Market, by Type - Revenue and Forecast to 2027 (USD Million)
Table 9. India Silicon Carbide (SiC) Market, by End-Use Industry - Revenue and Forecast to 2027 (USD Million)
Table 10. South Korea Silicon Carbide (SiC) Market, by Type - Revenue and Forecast to 2027 (USD Million)
Table 11. South Korea Silicon Carbide (SiC) Market, by End-Use Industry - Revenue and Forecast to 2027 (USD Million)
Table 12. Rest of APAC Silicon Carbide (SiC) Market, by Type - Revenue and Forecast to 2027 (USD Million)
Table 13. Rest of APAC Silicon Carbide (SiC) Market, by End-Use Industry - Revenue and Forecast to 2027 (USD Million)
Table 14. List of Abbreviation
List of Figures
Figure 1. Silicon carbide Market Segmentation
Figure 2. Asia Pacific Silicon carbide Market Segmentation - By Country
Figure 3. Asia Pacific Silicon Carbide Market Overview
Figure 4. Black Silicon Carbide Segment Held Largest Share of Asia Pacific Silicon Carbide Market
Figure 5. China Held Largest Share of Asia Pacific Silicon carbide Market
Figure 6. Asia Pacific Silicon Carbide Market, Key Market Players
Figure 7. Silicon Carbide Market Impact Analysis of Drivers and Restraints
Figure 8. Asia Pacific: Silicon Carbide Market - Revenue and Forecast to 2027 (US$ Million)
Figure 9. Silicon Carbide Market Revenue Share, By Type (2019 and 2027)
Figure 10. Black Silicon Carbide: Silicon carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 11. Green Silicon Carbide: Silicon carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 12. Silicon Carbide Market Revenue Share, By End-use industry (2019 and 2027)
Figure 13. Automotive: Silicon Carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 14. Aerospace and Aviation: Silicon Carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 15. Military and Defense: Silicon Carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 16. Electronics and Semiconductors: Silicon Carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 17. Medical and Healthcare: Silicon Carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 18. Steel: Silicon Carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 19. Others: Silicon Carbide Market - Revenue and Forecast To 2027 (US$ Mn)
Figure 20. Asia Pacific: Silicon Carbide Market, by Key Country - Revenue (2019) (USD Million)
Figure 21. Asia Pacific: Silicon Carbide (SiC) Market Revenue Share, by Key Country (2019 and 2027)
Figure 22. China: Silicon Carbide (SiC) Market -Revenue and Forecast to 2027 (US$ Million)
Figure 23. Australia: Silicon Carbide (SiC) Market -Revenue and Forecast to 2027 (US$ Million)
Figure 24. Japan: Silicon Carbide (SiC) Market -Revenue and Forecast to 2027 (US$ Million)
Figure 25. India: Silicon Carbide (SiC) Market -Revenue and Forecast to 2027 (US$ Million)
Figure 26. South Korea: Silicon Carbide (SiC) Market -Revenue and Forecast to 2027 (US$ Million)
Figure 27. Rest of Asia Pacific: Silicon Carbide (SiC) Market -Revenue and Forecast to 2027 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in Asia Pacific Country Markets

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Fiven ASA
  • Carborundum Universal Limited
  • Futong Industry Co. Limited
  • Electro Abrasives, LLC
  • Grindwell Norton Ltd.

Table Information