The Silicon Carbide Ceramics Market Size 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. Its strength, resistance to acid, low thermal expansion, and thermal conductivity make it the choicest component for many industries. In the automotive industry, its hardness is getting many accolades and is gaining traction in high-end semiconductors in electronics & electrical sector owing to its thermal conductivity. In addition, jewelry, sporting goods, and energy sectors are also showing demand for SiC Ceramics.
However, when its price is under consideration, bottlenecking of the market is also possible. SiC Ceramics are the costliest variation in the ceramic section which can hold back the market growth. But this will not last long as steel is showing interest in the sector and given the burgeoning market of steel, slackening growth for long is a rare possibility.
Segmentation:
Global Silicon Carbide Ceramics Market Size can be segmented by Type and Application.
Type-Wise Segmentation of the market includes pressure sintered, reaction bonded and recrystallized silicon carbide.
Application-Based Segmentation consists electronics & electrical, automotive, machine manufacturing, metal mining, aerospace & defense, metallurgic, industrial, and others. SiC Ceramics wear resistance, and biocompatibility properties make it suitable for use in artificial bones, biodegradable splints, and implant materials. This has helped the medical industry register the most significant growth.
Regional Analysis:
Global SiC Ceramics Market covers namely five major regions including North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and the Middle East & Africa (MEA).
The APAC, with 39% of the market share, is currently the frontrunner and the situation is expected to remain the same during the forecast period substantiated by the highest CAGR 7.95%. Electronics & electrical sector, along with the booming automotive sector to secure the prospects of the region. Massive steel production can also be a driving factor. China has significant control over the market with a revenue of USD 796.1 million. India and Taiwan are also posing as lucrative markets for the same.
North America follows the APAC and is getting influenced by mining activities and demand from the automotive industry. Aerospace & defense sector is also contributing considerably to the 26% share of the global market.
Lastly, Europe is showing a slackening speed owing to a meltdown in countries such as the U.K., and Slovakia. However, the market has been kept steady by Germany, Russia, and Belgium.
Key Players
Some of the key players functioning in the global Silicon Carbide Ceramics Market Size 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)
Browse the complete report @ https://www.marketresearchfuture.com/reports/silicon-carbide-ceramics-market-5682
This research report provides insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the Global Silicon Carbide Ceramics, including the high-growth regions and their political, economic and technological environments. Furthermore, the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
Email: sales@marketresearchfuture.com
