ID: MRFR/CnM/4227-CR | March 2018 | Region: Global | 150 pages
The Silicon Carbide Ceramics Market is expected to grow at a 6% CAGR by the end of the forecast period ending in 2030. The market valuation is expected to reach USD 1,812 million.
The silicon carbide ceramics fall under the category of advanced ceramics. The properties of these are similar to those of diamonds. The use of silicon carbide ceramics is extended to the machine manufacturing, automotive industry, as well as, electronics and electrical industry. The main reason behind this is the corrosion-resistant property of the ceramics. The other properties are that it is quite light in weight, and is extremely hard. Thus, good use in the tough environments as well. Owing to its applaudable characteristics like shock and oxidation resistance, hardness and temperature strength, chemical and wear resistance, low thermal expansion along with high thermal conductivity, and much more, the demand for the silicon carbide ceramics industry is gaining a lot of momentum.
COVID 19 Analysis
The patterns of functioning of the silicon carbide ceramics industry predict a flexible supply chain mechanism in between the key players and the market end-users. Also, owing to the widespread outbreak of the pandemic resulting in the shutting of production units and manufacturing businesses, the government is strategizing to pull the market out and have a futuristic impact on the business. The impact of the COVID 19 is adverse on both the running of the business that is further affecting the growth of economies on a global scale. The key market players are still struggling with the unavailability of the workforce due to the imposition of lockdown and flattened demand curve. In the recent scenario, both the governments, as well as, the entrepreneurs are investing in research and development initiatives to add to their products and portfolios to push for a better sales model. The market is expected to undergo decent growth by the end of the global forecast period in 2030.
The silicon carbide ceramics market revenue is a result of the performance of the key players present throughout the globe. These include:
These are the majorly functional companies that are operating on a global scale. The companies are knowingly adopting both organic, as well as, inorganic strategies for growth. Also, to strengthen their global presence, the companies are opting for mergers, acquisitions, as well as, product portfolio development, and launches.
The silicon carbide ceramics market revenue is mainly dependent on the market drivers. The current market trends are witnessing a growth in the demand for end-users of the industries mainly the electronics, as well as, the electrical manufacturers. The scope of the market is quite wide and has a reliable application for the various sections of the end-users. Also, silicon carbide ceramics industry product comes inclusive of the excellent properties that are major demand drivers for the market.
The quantum of growth in the industrial sector is pushing for wide adoption of advanced ceramics as a form of industrial outputs. The result of this is a higher yield that is acting as a major opportunity for growth by the end of the future forecast year. The possessed properties are also widening the scope by lending a supportive hand for the consumption of ceramic products.
The installation and possession of ceramic materials are quite expensive. Due to the high cost of the overall procedure, the market is facing similar hurdles in the growth process.
The market is filled with the excellent characteristics of the ceramic products due to which the target audience is demanding the same in huge quantum. Also, the product portfolio of the products belonging to the automotive, electrical, as well as, electronic sectors is bringing about a decent chance in the value chain analysis. The quality supply of the products is likely to increase by the end of the global forecast period to 2023.
The silicon carbide ceramics market analysis predicts the growth of the market, segment-wise, by the end of the global forecast in 2023. During the historic forecast year, the application segment dominated the market and helped the market achieve the forecasted growth. The market is segmented based on the following:
Based on type, the silicon carbide ceramics market makes the use of pressure sintered, recrystallized silicon carbide, as well as, the reaction bonded. All these have the basic properties of hardness and sturdiness, protection, resistance, and much more.
The application segment includes the areas that make use of carbide ceramics in various forms. These include the l mining, as well as the industrial sector. The other applications include aerospace, electronics, defense, electricals, automotive, metallurgy, along with manufacturing prospects.
The dominance of the market belongs to the electrical and electronics, along with the automotive sector owing to an increased level of automotive products on the global level. Also, the future belongs to the constant use of electric vehicles that will further help this market segment to grow.
Based on the regions across the globe, the silicon carbide ceramics market is currently functioning in 4 major locations. These are the North American regions, European nations, LAMEA, along the Asian Pacific continent. The Asia-Pacific region is expected to have a stronghold on the market by the end of the global forecast in 2023 because of the strongly emerging electronic customer base. This is initiating a large automotive demand, as well as, production for the market, along with the massive level of steel production, as well. The initiatives being taken up by the governments of the various regions under the APAC market are all set to promote the market’s growth by initiating the people to opt for such vehicles.
Following the APAC region, the USA, as well as, the Canadian market is expected to register considerable growth by the end of the future forecast region. The major driving factor for the market growth is the growing dependency of people on electric vehicles because of the ease and convenience brought in.
The silicon carbide ceramics market research report provides an insight into the qualitative and quantitative market analysis. The market trends and key market strategies are also discussed that are likely to help the market reach the estimated valuation by the end of the global forecast in 2023. The report also helps to provide an in-depth understanding of the prevailing trends along with the factors that act as market opportunities, as well as, market restraints. Also, the report mentions the key market players for revenue generation and drawing a competitive landscape.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Fuji Electric Co., Ltd. (Tokyo, Japan), ROHM Co., Ltd. (Kyoto, Japan), Infineon Technologies AG (Munich, Germany), STMicroelectronics N.V. (Geneva, Switzerland), CREE, INC. (North Carolina, US)|
|Key Market Opportunities||The quantum of growth in the industrial sector is pushing for wide adoption of advanced ceramics as a form of industrial outputs.|
|Key Market Drivers||The current market trends are witnessing a growth in the demand for end-users of the industries|
Frequently Asked Questions (FAQ) :
The silicon carbide ceramics market would reach a valuation of USD 7,474.1 million by 2023.
The forecast period of 2017 to 2023 would witness the silicon carbide ceramics market rise with 6.45% CAGR.
The Asia Pacific market has the key to drive the silicon carbide ceramics market ahead.
Players like Morgan Advanced Material (U.S.), Saint-Gobain (France), CeramTec (Germany), Blasch Precision Ceramics (U.S.), Ortech Advanced Material (U.S.), KYOCERA Corporation (Japan), ESD SIC bv (Netherlands), Ceradyne Inc (U.S.), Coors Tek Inc. (U.S.), Hitachi Chemicals (Japan), and others are taking part in transforming prospects of the silicon carbide ceramics market.
Acquisition, collaboration, product launch, Merger, better innovation, hike in R&D investment, brand positioning, and others are measures helping market players to capitalize on the scopes in the silicon carbide ceramics market.