Silicon Carbide Market Size, Share, and Growth Analysis, By Device (SiC Discrete Device, SiC MOSFETs), By Wafer Size (Up to 150 mm, >150 mm), By Type, By Production Method, By Application, By Region - Industry Forecast 2025-2032
United Silicon Carbide(now part of Qorvo)(United States)
Cree(United States)
Microsemi Corporation(United States)
Power Integrations(United States)
IXYS Corporation(United States)
Alpha and Omega Semiconductor(United States)
°á·Ð°ú Á¦¾È
KSA
¿µ¹® ¸ñÂ÷
¿µ¹®¸ñÂ÷
Global Silicon Carbide Market size was valued at USD 3.35 billion in 2023 and is poised to grow from USD 3.71 billion in 2024 to USD 8.36 billion by 2032, growing at a CAGR of 10.7% during the forecast period (2025-2032).
Silicon carbide is increasingly recognized for its thermal resilience, making it a preferred material for refractory applications in industries such as steel, cast iron, and aluminum manufacturing. The projected growth in these ferrous and non-ferrous sectors is expected to boost the demand for refractory materials. India's automotive industry, pivotal as it contributes 8% to exports and 2.3% to GDP, is set to surpass China's sector by 2025, further driving the need for silicon carbide. Additionally, with over 2,000 semiconductor chips designed annually in India, this growth may also positively influence the silicon carbide market. In the U.S., stable consumption patterns continue to prevail, particularly within the semiconductor sector, where Washington Mills is leading in sales, particularly in wafer applications.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Silicon Carbide market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Silicon Carbide Market Segments Analysis
Global Silicon Carbide Market is segmented by Device, Wafer Size, Type, Production Method, Application and region. Based on Device, the market is segmented into SiC Discrete Device, SiC MOSFETs, SiC Diodes and SiC Module. Based on Wafer Size, the market is segmented into Up to 150 mm and >150 mm. Based on Type, the market is segmented into Black Silicon Carbide, Green Silicon Carbide and Others. Based on Production Method, the market is segmented into Acheson process, Physical Vapor Transport (PVT), Chemical Vapor Deposition (CVD) and Other production methods. Based on Application, the market is segmented into Steel & Energy, Automotive, Aerospace & Aviation, Military & Defense, Electronics & Semiconductors and Medical & Healthcare. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Silicon Carbide Market
The global Silicon Carbide market is significantly driven by the rising demand for power electronics, which play a vital role in the electrical infrastructure worldwide. Power electronics encompass a variety of devices that facilitate the conversion of alternating current to direct current, while also enhancing system efficiency and minimizing energy losses. Silicon Carbide (SiC) devices, which include SiC diodes and modules, offer superior performance due to their ability to function at higher current densities and temperatures. Their advantageous properties, such as wide band gaps, rapid drift velocities, elevated breakdown voltages, substantial electric fields, and excellent thermal conductivities, further contribute to the growing adoption of SiC technology across various sectors.
Restraints in the Global Silicon Carbide Market
The global Silicon Carbide (SiC) market faces significant challenges due to inherent flaws in SiC materials, particularly in the formation of crystals that contain micropipes. As larger wafers are produced, these SiC devices are susceptible to various defects, including dislocations, inclusions, and stacking faults. Such issues arise from imbalances in the silicon and carbon precursors along with fluctuations in local pressure and temperature during production. These imperfections adversely affect the electrical properties of SiC devices, ultimately leading to reduced efficiency. Consequently, these flaws pose a considerable restraint on the growth potential of the Silicon Carbide market.
Market Trends of the Global Silicon Carbide Market
The Global Silicon Carbide market is witnessing robust growth, fueled by increasing demand across industrial and manufacturing applications, including cutting tools, grinding wheels, and refractory materials. As developing countries ramp up their manufacturing sectors, the need for efficient and durable materials like silicon carbide is surging. Additionally, the material's unique properties, such as high thermal conductivity and resistance to wear and corrosion, are further propelling its adoption in sectors like automotive, electronics, and energy. This upward trajectory is expected to continue as industries seek sustainable and innovative solutions, positioning silicon carbide as a key player in the global market landscape.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Regulatory Analysis
Global Silicon Carbide Market Size by Device & CAGR (2025-2032)
Market Overview
SiC Discrete Device
SiC MOSFETs
SiC Diodes
SiC Module
Global Silicon Carbide Market Size by Wafer Size & CAGR (2025-2032)
Market Overview
Up to 150 mm
>150 mm
Global Silicon Carbide Market Size by Type & CAGR (2025-2032)
Market Overview
Black Silicon Carbide
Green Silicon Carbide
Others
Global Silicon Carbide Market Size by Production Method & CAGR (2025-2032)
Market Overview
Acheson process
Physical Vapor Transport (PVT)
Chemical Vapor Deposition (CVD)
Other production methods
Global Silicon Carbide Market Size by Application & CAGR (2025-2032)
Market Overview
Steel & Energy
Automotive
Aerospace & Aviation
Military & Defense
Electronics & Semiconductors
Medical & Healthcare
Global Silicon Carbide Market Size & CAGR (2025-2032)
North America (Device, Wafer Size, Type, Production Method, Application)
US
Canada
Europe (Device, Wafer Size, Type, Production Method, Application)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Device, Wafer Size, Type, Production Method, Application)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Device, Wafer Size, Type, Production Method, Application)
Brazil
Rest of Latin America
Middle East & Africa (Device, Wafer Size, Type, Production Method, Application)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
ON Semiconductor (onsemi) (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
STMicroelectronics (Switzerland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Infineon Technologies (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Wolfspeed (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
ROHM Semiconductor (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Littelfuse (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Microchip Technology (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mersen (France)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Fuji Electric (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mitsubishi Electric (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Toshiba (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Renesas Electronics (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Semikron Danfoss (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
GeneSiC Semiconductor (United States)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
United Silicon Carbide (now part of Qorvo) (United States)