The Global Semi conductor market is estimated to be around USD 217.85 million in 2012. The market is expected to grow at a CAGR of 37.8% to reach USD 1,491.602 million by 2018. The raw material market for Silicon Carbide market is dominated by China and it holds around 68% of the global market share for raw material production indebting it to factors like low cost and superior quality of the raw materials.

Some of the market drivers for the industry include the use of Silicon Carbide MOSFETs in the automobile industry especially in the Hybrid Electric Vehicles, increased investments in the military fields where Silicon Carbide is used for bullet proofing combat vehicles, and in high tech power electronics. The increasing use of renewable energy for electricity generation will also drive the sales of Silicon Carbides as they are used in making Solar panels and are also useful in wind power systems. The incorporation of next generation techniques in Navy ships especially in the U.S. and the recent lift of export restrictions on raw materials from China will act as the opportunities for the Silicon Carbide market The high manufacturing costs of Silicon Carbide wafers, the presence of minute material defects such as formation of micro tubes, and the availability of alternative materials such as GaN will act as restraints for the Silicon Carbide market.

The Silicon Carbide market could be segmented into 2 types, Silicon Carbide abrasives and Silicon Carbide semi conductors. The market could be segmented by application into 10 types such as by computer hardware applications, by information and communications technology applications, by electrical and electronics applications, by automobile applications, by power applications, by defense and aviation applications, by healthcare applications, by abrasive and cutting applications, by fuel applications, and by other applications like in Jewelries and Graphene production. The market could also be geographically segmented into North America, Europe, Asia Pacific and the rest of the world regions.

Some of the key players in the Silicon Carbide market include Cree Incorporate, Device Manufacturers, Fujitsu Limited, Freescale Semiconductor Incorporated, Renesas Electronics Corporation, ST microelectronics N.V., NXP Semiconductors N.V, Infineon Technologies Ag, Rohm Co., Ltd., Maxim Integrated Products Incorporated, Vishay Intertechnology Incorporated, Genesic Semiconductor Incorporated and many others.