Silicon Carbide Ceramics Market – Know the Untapped Growth Opportunities to 2030
Research Reports
May 02, 2022
Silicon carbide (SiC) ceramics are advanced ceramics used for the development of ceramic materials. It exhibits the tough external behavior of diamonds in addition to possessing acid resistance, low thermal expansion, and high thermal conductivity. Applications of the semiconductor in electronics, automotive, aerospace, and energy sectors are likely to expand the scope of the global silicon carbide ceramics market from 2019 to 2025.
Market Outlook
The global Silicon carbide ceramics Market size can inflate at 6% CAGR from 2019 to 2025 (forecast period), according to Market Research Future (MRFR). It stood at USD 5400 million in 2018. Production of durable parts in the automotive sector combined with semiconductors or microprocessors in consumer electronics can induce end-users towards the semiconductor. Areas of energy, jewelry, and sporting goods are expected to provide massive avenues of growth. This can be attributed to markets of Russia, Saudi Arabia, Hong Kong, and India to be proving to be lucrative for the market till 2025.
Development of new metals using SiC as the primary component have given the market its much needed impetus. The aerospace sector, in particular, has developed a blend of SiC and magnesium for creating lightweight components in cars, airplanes, and spacecraft. For instance, researchers at University of California Los Angeles (UCLA) in 2016 injected magnesium nanoparticles into silicon carbide to enhance its properties without affecting its elasticity.
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But the expensive nature of SiC due to volatile prices of silicon can pose a challenge to the market.
Competition Outlook
KYOCERA Corporation, Blasch Precision Ceramics, CeramTec, Morgan Advanced Material, Hitachi Chemicals, ESD SIC bv, Saint-Gobain, Ortech Advanced Material, Coors Tek Inc., Ceradyne Inc, and others are key players of the global silicon carbide ceramics market.
Industry News
Kyocera Corporation has acquired H.C. Starck Ceramics to expand its ceramics business globally via acquisitions. This can extend its footprint and widen its product offerings by a considerable extent. The company is planning to launch silicon infused SiC in the coming years for the development of complex components.
Segmentation Analysis
The silicon carbide ceramics market is fragmented on the basis of type, application, and region. On the basis of the type, the market is divided into pressure sintered, reaction bonded, and recrystallized silicon carbide. The pressure sintered SiC ceramics segment can accrue high demand at 7.03% CAGR during the forecast period. Market segmentation based on the application includes aerospace & defense, electronics & electrical, metallurgic, industrial, automotive, machine manufacturing, metal mining, and others. The electronics & electrical sector held close to 28% market share followed by automotive with 22%.
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Regional Analysis
On the basis of region, the global silicon carbide ceramics market spans across North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA).
The APAC region is expected to exhibit massive growth due to large scale automotive production in China and the expansion of the electronics & electrical sector in Japan. It had accounted for 39% market share in 2016. Large steel production, the surge in automotive production and the boom in consumer electronics is likely to propel the global silicon carbide ceramics market to new heights. China holds large promise in the region with a revenue generation of USD 796.1 million in 2016. India and Taiwan are two other countries which can contribute to the regional market.
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North America was the second-largest region after APAC and driven by demand for consumer electronics and commercial vehicles. The aerospace sector offers the largest potential to the global market with various players developing composite alloys with SiC at its base. The region accounted for 26% market share in 2016 with the U.S. being one of its biggest revenue generators. Meanwhile, Europe held 18.6% market share with Belgium, Russia, and Germany at the helm of the market.
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