The global silicon carbide market size was valued at $2.52 billion in 2019 and is expected to record a CAGR of nearly 16% from 2021 to 2027. The growing steel industry is expected to drive growth as silicon carbide (SiC) is used as: It is a deoxidizer in the steel industry and a major raw material for the production of refractories. Refractories made from silicon carbide have a thermal conductivity ten times higher than that of refractory clay refractories. Global crude steel production increased by 4.5% from 2017 to 2018. Accordingly, the increase in steel production is expected to boost demand for refractory materials, which is expected to spur the market growth soon.
A full report of Silicon Carbide Market available at: https://www.orionmarketreports.com/silicon-carbide-market/7359/
Key Market Players
Infineon Technologies AG (Munich, Germany), CREE, INC. (North Carolina, US), ROHM Co., Ltd. (Kyoto, Japan), STMicroelectronics N.V. (Geneva, Switzerland), and Fuji Electric Co., Ltd. (Tokyo, Japan) are a few major companies operating in the silicon carbide market. These companies have adopted both organic and inorganic growth strategies such as product launches and developments, expansions, partnerships, agreements, contracts, collaborations, and acquisitions to strengthen their position in the market.
Silicon Carbide Market- Segmentation
By Device
• SIC Discrete Device
• SIC Bare Die
By Wafer Size
• 2 Inch
• 4 Inch
• 6 Inch and Above
By Application
• Power Grid Devices
• Flexible AC Transmission Systems (FACTs)
• High-Voltage, Direct Current Systems (HVCDs)
• Power Supplies and Inverters
• RF Devices & Cellular Base Stations
• Lighting Control Systems
• Industrial Motor Drives
• Flame Detectors
• EV Motor Drives
• EV Charging Stations
• Electronic Combat Systems
• Wind Turbine
• Solar Power Systems
• Others
By Vertical:
• Energy & Power
• Automotive
• Renewable Power Generation
• Defense
• Power Electronics
• Telecommunication
• Others
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