Silicon Carbide demand was over USD 1.45 billion in 2012
and is expected to reach USD 3.82 billion by 2019, growing at a CAGR
of 15.3% from 2013 to 2019. In terms of volume, silicon carbide consumption is
expected to reach 2,377.1 kilo tons in 2019, growing at a CAGR of 14.5% from
2013 to 2019.
Growing demand in the steel manufacturing and steel recycling
industries and the dependence of electronics & semiconductors on silicon
carbide are factors that are expected to drive SiC demand over the next five
years. High level of precision involved in the manufacture of components and
low tolerance specifications in their applications are expected to be key
challenges for market participants in the coming years.
Black and green SiC were the dominant product segments, and
accounted for over 90% of the overall market share in 2012. Black SiC is
expected to continue holding its market position in the near future and is
expected to grow at a CAGR of 15.4% between 2013 and 2019. Green SiC
consumption is expected to reach 656.1 kilo tons by 2019. Coated, refractory
and metallurgical SiC along with metallurgical briquettes and SiC micro grit
accounted for a smaller part of the market with applications in
high-performance applications.
Silicon carbide is primarily used in steel & energy,
automotives, aerospace & aviation, military & defense, electronics
& semiconductors and medical & healthcare end-user segments. Steel
& energy showed the highest demand for silicon carbide in 2012 and
accounted for more than 28% of the market. Electronics & semiconductors and
automotives were the other major segments for the material and are also
expected to show strong demand in the near future. Medical & healthcare is
expected to show the most demand for silicon carbide during the forecast period
and is expected to grow at a CAGR of 15.6% between 2013 and 2019.
Asia Pacific was the largest market for silicon carbide in 2012
and accounted for more than 50% of the global demand. Steel & energy,
electronics & semiconductors and automotives were the major markets driving
sales for silicon carbide in Asia Pacific, making it the largest market in
terms of volume. Asia Pacific and RoW are expected to be strong
future markets for silicon carbide owing to growing industrialization and
infrastructure. SiC demand in North America and Europe is
expected to reach 249.6 kilo tons and 375.6 kilo tons by 2019 respectively.
ESK-SIC Gmbh, The Dow Chemical Company, Grindwell Norton Ltd. AGSCO
Corporation, Entegris Inc., Norstel AB and Gaddis Engineered Materials along
with others were key market participants in the SiC industry.
Silicon Carbide Market: Product Segment
Analysis
·
Black SiC
·
Green SiC
·
Others (Coated SiC, refractory SiC,
metallurgical SiC and metallurgical briquettes, SiC micro grit)
Silicon Carbide Market: End-user Analysis
·
Steel & energy
·
Automotives
·
Aerospace & aviation
·
Military & defense
·
Electronics & semiconductors
·
Medical & healthcare
·
Others (Chemicals, fabrication etc.)
Silicon Carbide Market: Regional Analysis
·
North America
·
Europe
·
Asia Pacific
·
Rest of the World (RoW)
Browse all Chemical
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