Global Silicon Carbide Market: Overview

Silicon carbide (SiC) (or carborundum) is extremely hard compound of crystalline compound of silicon and carbon produced synthetically and has been popularly used as abrasives and in cutting tools world over. More recent applications driving the market are in refractory linings for industrial furnaces and in wear-resistant parts for pumps. The extensive usage of SiC as semiconducting substrates for LED has led the compound to occupy as a crucial role in semiconductor industry world over. Products made of silicon carbide find commercial usage in engineering applications. Owing to the extreme hardness SiC displays comparable that of diamond, along with exciting semiconductor characteristics it has, bolsters its uptake in applications that demand high corrosion resistance.

The range of applications of SiC in end-use industries such as automotive, steel and energy, aerospace, aviation, military and defense, electronics and semiconductors, and medical and healthcare is driving the silicon carbide market. The advances being made in these end-use industries is also catalyzing the growth of the silicon carbide market. Furthermore, the advent of advanced manufacturing processes has further expanded the specialized applications of silicon carbide.

The silicon carbide market is projected to proliferate at a robust CAGR of 15.3% during 2013– 2019. The valuation of the market was pegged at US$1.45 Bn in 2012.

Applications in Medical and Healthcare Sector and Automotive Industry to rise at Substantial Pace

Among the various end-use applications, the troika of electronics and semiconductors, steel and energy, and automotive sectors accounted for a majority of the global share in 2012. However, the medical and healthcare sector in combination with the automotive industry is expected to be an attractive segment. The combined segment is poised to rise at the highest CAGR over the forecast period. SiC as performance ceramic is prominently used in ceramic brake pads for various high-end vehicles, including sports cars, which is boosting the product demand in the automotive industry.  

Black and Green Silicon Carbide Segments rule the roost 

Broadly, based on product, the silicon carbide market can be segmented into black and green, along with the ‘others’ segment comprising coated SiC, refractory SiC, metallurgical SiC and metallurgical briquettes, and SiC micro grit. Black and green SiC jointly accounted for the lion’s share of over 90% in the global market in 2012 and is expected to hold their sway through 2019. The combined segment is also forecast to rise at the highest CAGR over the assessment period. The types of SiC that fall under the other category has niche applications and the scenario is not likely to change anytime soon.

Asia Pacific and RoW Region to rise at Prominent Growth Rate, Europe home to Lucrative Avenues  

The various regional segments in the global silicon carbide market are North America, Europe, Asia Pacific, and the region called Rest of World (RoW). Of these, Asia Pacific led the pack and held over half the share the global market in 2012. The prominence of this regional market is attributed to the presence of a robust distribution infrastructure. Of the remaining regional segments, Europe and RoW contributed a share of over 30% in the global market.

The substantial demand for SiC products in the automotive sector is a key factor driving the demand in Europe market.  The rapid rise in demand for SiC in several developing countries such as China, Brazil, Russia, Indonesia, and India has resulted in the RoW region and Asia Pacific showing vast lucrative opportunities for market players to capitalize on. These regions are anticipated to expand at CAGR greater than all others over the assessment period.

High demand for steel manufacturing and steel processing along with recycling has been driving the market for silicon carbide (SiC) in the past few years. Silicon carbide is a key component of the semiconductor devices and growth in the electronics and semiconductor market is also a driving factor governing SiC market growth. The high precision required for manufacturing components and the low level of tolerances in the end-user market have been restraining the market at the same time.
This report gives a detailed description of the global silicon carbide market based on volume share (kilo tons) and revenue (USD million) for the period 2013 to 2019. The report highlights the factors contributing towards the growth of the market and the restraints that impede the market. The report also explains the competitive landscape with company market shares of key market players. Detailed forecasts for the years 2013-2019 for silicon carbide have been given separately, for better understanding of the market scenario. The silicon carbide market is described with respect to their various segments along with the opportunities that are expected in the coming six years.
For geographic analysis, the global silicon carbide market has been segmented into regions such as North America, Europe, Asia Pacific and Rest of the World. Based on the product segments, the silicon carbide market can be categorized into different segments such as black SiC, green SiC and others such as coated SiC, refractory SiC, metallurgical SiC, metallurgical briquettes and SiC micro grit. Black SiC has been the largest market and is expected to show the highest growth during the forecast period.
The major end-user segments in the silicon carbide market are steel & energy, automotives, aerospace & aviation, military & defense, electronics & semiconductors and medical & healthcare. Of these, steel & energy, electronics & semiconductors and automotives have been the major markets while medical & healthcare is expected to show the highest growth in the near future.
Market numbers are given on the basis of different silicon carbide products and key end-user markets. Market size and forecast for each major application is provided in the context of global as well as the regional market. Inflation is not a part of pricing in this report. A combination of primary and secondary research has been employed to arrive at the market estimates, market shares and trends. We have adopted bottom up model to derive market size of the global silicon carbide market and further validated numbers with the key market participants.
For a more comprehensive view of the market, a value chain analysis and Porter’s five forces model is provided to throw light on the specifics of the industry structure besides giving an overview of the degree of competitiveness. The report also includes detailed profiles of key players such as ESK SIC GmbH, Grindwell Norton Ltd., The Dow Chemical Company, Carborundum Universal Ltd., Norstel AB and Entegris Inc. among others. The detailed description of players includes parameters such as company overview, financial overview, business strategies, SWOT analysis and recent developments of the company.
The in-depth research and high level analysis will allow silicon carbide manufacturers, large retailers, lawmakers and research and development agencies to make informed decisions about silicon carbide manufacturing, designing, marketing, growth strategies and gaining competitive advantage
The report segments the global silicon carbide market as:
  • Silicon carbide market - Product segment analysis
    • Black SiC
    • Green SiC
    • Others (Coated SiC, refractory SiC, metallurgical SiC and metallurgical briquettes, SiC micro grit)
  • Silicon carbide market - End-user analysis
    • Steel & energy
    • Automotives
    • Aerospace & aviation
    • Military & defense
    • Electronics & semiconductors
    • Medical & healthcare
    • Others (Chemicals, fabrication etc.)
  • Silicon carbide market - Regional analysis
    • North America
    • Europe
    • Asia Pacific
    • ROW