Get the latest insights on price movement and trend analysis of Silicon Carbide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Silicon Carbide Market Size, Share, Forecast, & Trends Analysis by Type (Black SiC, Green SiC), Forming Method (Reaction Bonding, Sintering, Recrystallization, Other Methods), End-use Industry (Automotive, Electronics & Semiconductor, Energy & Power, Others), Geography - Global Forecast to 2032

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Silicon Carbide (SiC) Market Size 2025-2029

The silicon carbide (sic) market size is forecast to increase by USD 11.33 billion at a CAGR of 37.1% between 2024 and 2029.

The market is experiencing significant growth, driven by increasing demand in the aerospace sector for SiC fibers and the rising adoption of power inverters in electric vehicles along with the advancements in automotive technologies. SiC fibers are valued for their high-temperature resistance and strength, making them an ideal choice for aerospace applications. In the automotive industry, SiC power semiconductors are utilized in power inverters for electric vehicles, enabling efficient power conversion and extending battery life. However, the market growth is not without challenges. The high manufacturing and processing costs of SiC semiconductors remain a significant obstacle, limiting the widespread adoption of SiC technology. This challenge is particularly pronounced in the production of large-scale SiC wafers, which require specialized equipment and processes.
Companies seeking to capitalize on the market opportunities offered by SiC technology must focus on cost reduction strategies, such as optimizing manufacturing processes and exploring alternative production methods. By addressing this challenge effectively, businesses can differentiate themselves in the competitive market landscape and capture a larger market share.

What will be the Size of the Silicon Carbide (SiC) Market during the forecast period?

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The market continues to evolve, driven by the expanding application landscape across various sectors. SiC's unique properties, such as high temperature resistance and electrical conductivity, make it an ideal choice for high-power electronics, aerospace applications, and military technology. SiC JFets and SiC epitaxial growth have gained significant traction in power electronics due to their superior performance in high-voltage and high-frequency applications. Meanwhile, SiC integrated circuits have emerged as a game-changer in the semiconductor industry, offering enhanced reliability and cost reduction. SiC wafers are increasingly being adopted in the solar industry for the production of high-efficiency solar cells.
Additionally, SiC's radiation hardness and high-temperature capabilities make it an attractive option for space applications. The SiC market's continuous growth is also fueled by advancements in SiC manufacturing processes and testing techniques, ensuring the production of high-quality SiC substrates and devices. Furthermore, the integration of SiC in high-power conversion systems, Energy Storage, and industrial applications is paving the way for future trends in renewable energy and sustainable technology. SiC's potential in high-frequency applications, Medical Devices, and automotive industries is also being explored, further expanding its market reach. The SiC industry's ongoing evolution underscores its importance as a key player in the electronics and energy sectors.

How is this Silicon Carbide (SiC) Industry segmented?

The silicon carbide (sic) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Power electronics
  Optoelectronic devices
  Frequency devices


Application

  Automotive
  Energy and power
  Aerospace and defense
  Data and communication devices
  Others


Device

  SiC discrete device
  SiC module


Measurement

  Up to 150mm
  Greater than 150mm


Form

  Grains
  Powders
  Wafers


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Insights

The power electronics segment is estimated to witness significant growth during the forecast period.

SiC, or silicon carbide, is a versatile material used extensively in various industries for its exceptional properties in power electronics. SiC-based power semiconductors, including packaging, high-temperature applications, solar cells, power modules, radiation hardness, sensors, and manufacturing processes, are integral to the SiC industry's growth. These semiconductors offer superior performance in high-power applications due to their ability to operate at higher temperatures, voltages, and switching frequencies. Additionally, they exhibit lower switching losses, higher efficiency, and reduced on-resistance, making them an ideal choice for high-power electronics in industries like automotive, aerospace, renewable energy, and industrial applications. SiC power semiconductors are continually evolving, with advancemen

The Silicon Carbide Market is estimated to be valued at USD 3.5 billion in 2025 and is projected to reach USD 7.2 billion by 2035, registering a compound annual growth rate (CAGR) of 7.5% over the forecast period.

According to Cognitive Market Research, the global SIC Powder market size will be USD 81.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 32.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 24.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 18.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
The metal industry is the dominant segment in the SIC powder market due to Silicon Carbide’s excellent thermal conductivity, wear resistance, and hardness, making it ideal for applications in metal casting, foundries, and steel production

Market Dynamics of SIC Powder Market

Key Drivers for SIC Powder Market

Increasing Demand in High-Performance Electronics and Automotive Industries to Boost Market Growth

The demand for silicon carbide (SiC) powder is on the rise, particularly in the high-performance electronics and automotive sectors, due to its exceptional thermal conductivity and mechanical strength. SiC's ability to withstand high voltages and temperatures makes it ideal for power electronics used in electric vehicles (EVs), renewable energy systems, and industrial applications. With the growing global focus on energy efficiency, the automotive and electronics industries are increasingly adopting SiC powder for components that deliver enhanced performance and sustainability, propelling market growth. For instance, In September 2024, Carborundum Universal acquired a 100% stake from Silicon Carbide Products, Inc. USA (SCP) at a value of USD 6.6 million. This acquisition will help the company establish a wholly-owned subsidiary in the U.S. and strengthen its presence in the silicon carbide sector

Expansion in Renewable Energy and Power Generation Applications to Drive Market Growth

Another key driver in the SiC powder market is its growing use in renewable energy and power generation. SiC powder is essential in manufacturing components for solar inverters and wind power systems, where efficiency and durability are crucial. The shift toward clean energy solutions has led to increased investments in solar and wind power infrastructure, which, in turn, fuels the demand for SiC-based materials. This trend is expected to continue as more regions prioritize green energy initiatives, positioning SiC powder as a vital material in the global push for sustainable power solutions.

Restraint Factor for the SIC Powder Market

High Production Costs and Limited Raw Material Availability, will Limit Market Growth

A major restraint in the fractionated coconut oil market is the high production cost associated with its manufacturing process, which includes specialized extraction and refining techniques to isolate medium-chain triglycerides (MCTs). This cost factor can limit its affordability and widespread application, especially in price-sensitive markets. Additionally, the availability of high-quality raw coconut oil is subject to fluctuations due to environmental factors and regional supply constraints, impacting production consistency and price stability. These challenges make it difficult for manufacturers to maintain steady supply chains, potentially hindering market growth in the long term.

Impact of Covid-19 on the SIC Powder Market

The COVID-19 pandemic had a mixed impact on the SiC powder market. Early in the pandemic, supply chain disruptions and factory shutdowns slowed production, delaying projects across key industries like automotive, aerospace, and electronics, which are major consumers of SiC powder. This led to a temporary dip in demand as manufacturers paused operations. However, as the economy began to recover, sectors like electric vehic...

Silicon Carbide Market size was valued at USD 2.9 billion in 2024 and is expected to reach USD 14.7 billion by the end of 2037, rising at a CAGR of 12.8% during the forecast period, 2025-2037. The North America industry is anticipated to dominate the market with a share of 35.5% due to demand from the automotive, electronics, and energy industries.

The Silicon Carbide Market size is expected to reach a valuation of USD 510.7 billion in 2033 growing at a CAGR of 5.70%. The Silicon Carbide Market research report classifies market by share, trend, demand, forecast and based on segmentation.

The Silicon Carbide Report is Segmented by Product Type (Black Silicon Carbide, Green Silicon Carbide, and Other Products), Application (Steel Manufacturing, Energy, Automotive, Aerospace and Defense, Electronics and Semiconductors, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

North America Silicon Carbide Powder market size is estimated at USD 31.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

The size of the Silicon Carbide Market was valued at USD XX USD Million in 2023 and is projected to reach USD XXX USD Million by 2032, with an expected CAGR of 12.8% during the forecast period. SiC or Silicon carbide is the material of silicon and carbon existing compound, which is hard, heat conductive and chemically steady. It can be obtained in several crystalline structures and the more frequent of any of the two polymorphs is technically known as alpha SiC which has a hexagonal structure and beta SiC which has a cubic structure. SiC has high regard for thermal stability, electrical conductivity, and resistance to wear and corrosion. These properties make it applicable in areas that call for high abrasion, resistant linings such as abrasives, refractory linings, semiconductors, high-temperature ceramics, and automotive and aerospace areas such as brake disc and turbine blades. Key drivers for this market are: Rapid Urbanization to be the Key Driving Factor for the Market. Potential restraints include: Increasing Price of Petroleum-Based Raw Material.

The Silicon Carbide Market Share size and share are expected to exceed USD 12.13 billion by 2034, with a compound annual growth rate (CAGR) of 11.6%.

The global silicon carbide market is projected to grow at a CAGR of 17.00% between 2025 and 2034.

The Spherical Silicon Carbide Market Share size and share are expected to exceed USD 12157.76 million by 2034, with a compound annual growth rate (CAGR) of 11.5% during the forecast period.

Silicon Carbide (SiC) Wafer Market is Segmented by Wafer Diameter (≤4 Inch, 6 Inch, 8 Inch, and ≥12 Inch), Conductivity Type (N-Type Conductive, and Semi-Insulating), Application (Power Electronics, RF Devices, and More), End-Use Industry (Automotive and Electric Vehicles, Renewable Energy and Storage, Telecommunications, and More), Crystal-Growth Technology (PVT, CVD, Modified Lely Sublimation, and More), and Geography.

Global Silicon Carbide market size is expected to reach $5.81 billion by 2029 at 17%, silicon carbide market surges with rising electric vehicle demand

Ultra High Purity Silicon Carbide Market Outlook

The global Ultra High Purity Silicon Carbide market size was valued at approximately USD 765 million in 2023 and is projected to reach USD 2.31 billion by 2032, growing at a CAGR of 12.8% during the forecast period. The market's robust growth is driven by an increasing demand for advanced semiconductors and high-performance electronics, which require ultra-pure materials to enhance product reliability and performance.

The growth of the Ultra High Purity Silicon Carbide market can be attributed to several key factors. One of the primary drivers is the burgeoning semiconductor industry. As electronic devices become more sophisticated and miniaturized, the need for materials with superior electrical properties has surged. Ultra High Purity Silicon Carbide (UHPSiC) offers excellent thermal conductivity, high electric field strength, and low thermal expansion, making it indispensable for fabricating power electronic devices and integrated circuits.

Additionally, the automotive sector is significantly contributing to the market's growth. The shift towards electric vehicles (EVs) and hybrid electric vehicles (HEVs) has led to a heightened demand for power electronics components that can withstand high temperatures and voltages. UHPSiC, with its ability to operate under extreme conditions, is becoming a material of choice for manufacturers aiming to improve the efficiency and performance of EVs and HEVs. This trend is expected to continue as governments worldwide push for greener transportation solutions.

Moreover, the aerospace and defense industries are increasingly adopting UHPSiC due to its exceptional mechanical and thermal properties. The material's high hardness, chemical inertness, and resistance to radiation make it suitable for a range of applications, from protective coatings to advanced missile systems. As these sectors prioritize reliability and performance, the demand for UHPSiC is projected to rise steadily.

Regional outlook indicates that Asia Pacific is anticipated to dominate the Ultra High Purity Silicon Carbide market, driven by significant investments in the semiconductor and automotive industries in countries like China, Japan, and South Korea. North America and Europe are also expected to witness substantial growth, supported by advancements in aerospace and defense technologies and the presence of leading market players in these regions.

Product Type Analysis

The Ultra High Purity Silicon Carbide market is segmented by product type into powder, granules, and others. Each of these product types serves distinct applications and has unique market dynamics. Powder form UHPSiC is primarily used in applications requiring fine particulate materials, such as in semiconductor fabrication and advanced coatings. The fine granularity of the powder allows for precise control in the manufacturing processes, ensuring high-quality end products.

Granules, on the other hand, are utilized in applications where a coarser material is suitable. This form is often used in the production of composite materials and high-performance ceramics. The granules provide a balance between ease of handling and material performance, making them ideal for industries that require robust and durable components. The market for UHPSiC granules is expected to grow steadily as the demand for advanced composite materials increases.

Other forms of UHPSiC, which may include custom shapes and specialized particles, cater to niche applications across various industries. These products are typically developed in collaboration with end-users to meet specific requirements. The versatility of UHPSiC in different forms allows manufacturers to tailor their products to a wide range of industrial applications, thus broadening the market's scope.

In terms of market share, the powder segment is expected to hold the largest share, driven by its extensive use in the semiconductor industry. However, the granules segment is projected to exhibit the highest growth rate due to rising demand from the automotive and aerospace sectors. The continuous innovation and development of new UHPSiC forms will further enhance the market's growth prospects.

Report Scope

The Silicon Carbide Fiber Market Report is Segmented by Fiber Type (Continuous Fiber, and Short Fiber), Form (Continuous and Woven), End-User Industry (Aerospace and Defense, Energy and Power, Industrial, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

The global silicon carbide market was valued at $3.30 billion in 2025, and is projected to reach $10.00 billion by 2033, exhibiting a CAGR of 10.00% during the forecast period. The rising demand for silicon carbide in various end-use industries, such as steel manufacturing, energy, and automotive, is a key factor driving the market growth. Additionally, the increasing use of silicon carbide in semiconductor devices, due to its high power handling capabilities and low energy losses, is further propelling the market growth. The market is segmented based on product type, application, and region. In terms of product type, the green SiC segment accounted for the largest market share in 2025. However, the black SiC segment is expected to witness the highest growth rate during the forecast period. Based on application, the steel manufacturing segment dominated the market in 2025. The energy segment is anticipated to exhibit the fastest growth rate during the forecast period. Geographically, the Asia Pacific region held the largest market share in 2025, followed by North America and Europe. The Asia Pacific region is expected to continue its dominance throughout the forecast period, driven by the rapid industrialization and urbanization in the region. Recent developments include: October 2023: DENSO CORPORATION announced an investment of USD 500 million in Silicon Carbide LLC, Coherent Corp.’s silicon carbide (SiC) business, to ensure a long-term stable procurement of SiC wafers to enhance the competitiveness of its electrification components., May 2023: Saint-Gobain NORPRO, a business unit of Saint-Gobain Ceramics, announced the acquisition of 50.1% shares in SICAT GmbH & Co. KG, which manufactures beta silicon carbide and carbon catalyst supports. This acquisition was made to enable Saint-Gobain NORPRO to extend its carrier offerings within biofuel and clean energy spaces by adding beta SiC and Carbon products to its product portfolio., September 2022: SK Siltron, a global maker of semiconductor wafers, announced that it would invest USD 1.65 billion by 2026 and allocate USD 0.7 billion to build new wafer manufacturing in Gumi National Industrial Complex., May 2022: SK Siltron announced that the newly built US-Bay City plant would increase production capacity, estimating over 100,000 silicon carbide sheets annually.. Key drivers for this market are: Strong Demand from the Electronics Industry, Increasing Demand for Advanced Ceramics. Potential restraints include: Strong Demand from the Electronics Industry, Increasing Demand for Advanced Ceramics. Notable trends are: Increasing Usage in Electronics and Semiconductor Segment.

CVD Silicon Carbide Market Size, Shares, Trends, Outlook and Forecast to 2028. Market Analysis By Product Type, Application, and Region.

The global Silicon Carbide (SiC) market size was USD 2.98 Billion in 2021, Increasing global demand for EVs due rapid adoption of zero-emission technologies is expected to drive the demand for silicon carbide.