Silicon Carbide Global Market Report 2022

Major players in the silicon carbide market are Infineon Technologies, Wolfspeed Inc. , Rohm, ESK-SiC GmbH, ESD-SIC BV, Grindwell Norton Ltd. , Entegris Inc. , Saint Gobain Ceramic Materials GmbH, AGSCO Corporation, Carborundum Universal Limited, The Dow Chemical Company, Fuji Electric Co.

New York, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Silicon Carbide Global Market Report 2022" - https://www.reportlinker.com/p06228519/?utm_source=GNW
Ltd., General Electric Company, Microchip Technology Incorporated, Snam Abrasives Pvt. Ltd. and STMicroelectronics.

The global silicon carbide market is expected to grow from $1.62 billion in 2021 to $1.93 billion in 2022 at a compound annual growth rate (CAGR) of 19.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.45 billion in 2026 at a CAGR of 15.6%.

The silicon carbide market consists of sales of silicon carbide products by entities (organizations, sole traders, and partnerships) that are hard and insoluble substances used as an abrasive and electrical resistors in high-temperature devices.Silicon carbide is a crystalline chemical compound of silicon and carbon produced synthetically in the form of SiC powder.

It is suitable for high power applications as it offers extreme chemical inertness, hardness, relatively low thermal expansion, high thermal conductivity, resistance to corrosion, and high force-to-weight radius.

The main types of silicon carbide are black silicon carbide and green silicon carbide.Black silicon carbides are black, crisper, hard, and not as pure as Green SiC containing more than 95% SiC.

It is more economic as well as easy availability. The different types of devices include SiC discrete device, SiC bare die and are used in various applications such as steel, automotive, aerospace, military and defense, electrical and electronics, healthcare, others.

Asia Pacific was the largest region in the silicon carbide market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Strategic partnership and collaboration are shaping the silicon carbide market.Key players operating in the silicon carbide market are focusing on partnership and collaborations to improve efficiency, costs savings, expand value propositions, and extend their growth in new areas to be a leader in the industry.

For instance, in June 2020, Vitesco Technologies, a Germany-based company offering electric vehicles have signed a development partnership with ROHM Semiconductor, a Japan-based company that manufactures and designs semiconductors, integrated circuits (ICs), and other electronic components.Through this partnership, Vitesco Technologies increase the energy efficiency of electric vehicles using silicon carbide components from ROHM Semiconductor.

Additionally, in November 2021, Qorvo, a US-based semiconductor company acquired UnitedSiC, US-based manufacture of silicon carbide power semiconductors. The deal broadens Qorvo’s presence into fast-growing areas such as circuit protection, electric vehicles (EVs), renewables, industrial power, and data center power.

Emerging demand for electric vehicles is significantly driving the growth of the silicon carbide market.Electric vehicles (EVs) use rechargeable batteries that produce very little noise and no exhaust, making them environmentally friendly.

SiC is a semiconductor material used in electric vehicles because it has a higher thermal conductivity, can handle high voltages up to 1200V, and increases efficiency while lowering the vehicle’s weight and cost.For instance, according to International Energy Agency (IEA), the global number of electric cars on the road in 2020 was more than 10 million, up 43% from 2019.

Therefore, the emerging demand for electric vehicles is projected to propel the growth of the silicon carbide market going forward.

In August 2021, ON Semiconductor, a US-based semiconductor manufacturing company acquired GT Advanced Technologies Inc., for $415 million. The acquisition is intended to strengthen onsemi’s presence in the sustainable ecosystem, including power switching devices for boosting system performance in electric vehicles (EVs), EV charging, and energy infrastructure, as well as fulfill significantly increasing consumer demand for SiC-based solutions. GT Advanced Technologies Inc is a US-based company engaged in manufacturing silicon carbide and sapphire crystal materials.

The countries covered in the silicon carbide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Read the full report: https://www.reportlinker.com/p06228519/?utm_source=GNW

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