Market segmentation for silicon carbide, outlook, and industry report through 2029

Market segmentation for silicon carbide, outlook, and industry report through 2029

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Silicon Carbide Market is expected to reach US$ 3519.14 Mn. by 2029, at a CAGR of 18.60% during the forecast period.

Silicon Carbide Market Overview:

The Silicon Carbide market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Silicon Carbide Market, as well as the causes for variances in the industry’s growth across a variety of sectors.

Market Scope:

Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.

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Based on the Product, the Silicon Carbide Market is segmented into Black and Green. The Black segment held the largest market share, accounting for 57% in 2021. The segment's growth is attributed to the increasing consumption of steel and growing automobile and construction industries across the globe. Black Silicon carbide is crystalline in nature and is produced in furnaces at temperatures of more than 2300o C from silica sand and coke. In addition, Black SiC is more cost-effective as compared to green SiC. These factors are expected to drive the SiC market growth during the forecast period for this segment.

Key Players:

• Agsco Corporation
• Carborundum Universal Limited
• Cree, Inc.
• Entegris, Inc.
• Fuji Electric Co., Ltd.
• General Electric Company
• GeneSiC Semiconductor Inc.
• Grindwell Norton Ltd.
• II-VI Incorporated
• Infineon Technologies AG
• Microchip Technology Incorporated
• Powerex Inc.
• Renesas Electronics Corporation
• SEMIKRON International GmbH
• Snam Abrasives Pvt. Ltd.
• STMicroelectronics N.V.
• The Dow Chemical Company
• Toshiba Corporation
• United Silicon Carbide, Inc.
• Versum Materials, Inc.

Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeSilicon Carbideg executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeSilicon Carbideg executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.

The biggest players in the Silicon Carbide market are as follows:

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Regional Analysis:

Individual market influencing components and changes in market laws impacSilicon Carbideg current and future market trends are also covered in the Silicon Carbide market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer fooSilicon Carbideg. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Silicon Carbide Market:

End-user industries where Silicon Carbide are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Silicon Carbide manufacturers, harming the Silicon Carbide market’s growth in 2020. End-user business demand for Silicon Carbide has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.

Key Questions Answered in the Silicon Carbide Market Report are:

In 2021, which segment accounted for the most share of the Silicon Carbide market?
What is the competitive landscape of the Silicon Carbide market?
What are the key factors influencing Silicon Carbide market growth?
In the Silicon Carbide market, which region has the most market share?
What will be the CAGR of the Silicon Carbide market during the forecast period (2022-2027)?

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