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

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).

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.

The size of the Silicon Carbide Market was valued at USD 2.07 billion in 2023 and is projected to reach USD 2.85 billion by 2032, with an expected CAGR of 4.70% during the forecast period. Recent developments include: September 2022: SK Siltron CSS opened its new manufacturing facility in Bay City. The $300 million investment strengthens SK Siltron's commitment to Michigan and further boosts Michigan's leadership role in the national semiconductor supply chain, March 2021: Microchip launched industry-leading 3.3 kv silicon carbide (sic) power devices that enable new levels of efficiency and reliability., January 2022: Fuji Electric Tsugaru Semiconductor Co., Ltd., has received a capital investment from Fuji Electric Co., Ltd. to increase the production of SiC power semiconductors. In fiscal 2024, mass production is expected to start.. Notable trends are: Growing application of silicon carbide in electronics and semiconductors to aid market growth.

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Silicon Carbide (SiC) Market Size 2025-2029

The silicon carbide (SiC) market size is valued to increase USD 11.33 billion, at a CAGR of 37.1% from 2024 to 2029. Increase in demand for SiC fibers in aerospace sector will drive the silicon carbide (SiC) market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 48% growth during the forecast period.
By Product - Power electronics segment was valued at USD 498.90 billion in 2023
By Application - Automotive segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 929.85 million
Market Future Opportunities: USD 11330.50 million
CAGR from 2024 to 2029 : 37.1%

Market Summary

Silicon Carbide (SiC), a versatile non-organic compound, has gained significant traction in various industries due to its exceptional properties. With a molecular structure that combines silicon and carbon, SiC offers high thermal conductivity, excellent electrical resistance, and superior hardness. These attributes make it an ideal choice for numerous applications, particularly in the energy and transportation sectors. One notable trend driving the growth of the SiC market is the increasing demand for SiC fibers in the aerospace industry. SiC fibers' high-temperature resistance and strength make them suitable for manufacturing advanced ceramic matrix composites used in aircraft components. Moreover, SiC semiconductors play a pivotal role in power electronics, specifically in the production of power inverters for electric vehicles.
Despite these opportunities, the SiC market faces challenges, primarily due to the high manufacturing and processing costs of SiC semiconductors. However, advancements in production techniques and increasing investments in research and development are expected to mitigate these challenges. According to a recent study, the global SiC market size was valued at over USD 10 billion in 2020 and is projected to expand at a steady pace in the coming years. In summary, the SiC market is poised for growth, driven by its application in high-performance industries and the continuous advancements in SiC technology. Despite challenges, the market's potential is significant, making it an attractive area for investment and innovation.

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

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How is the Silicon Carbide (SiC) Market 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.

In the realm of power semiconductor devices, Silicon Carbide (SiC) is an emerging material of choice due to its superior properties. SiC-based semiconductors, utilized in high-power electronics, exhibit remarkable capabilities, such as high operating temperatures, voltages, and switching frequencies. These advantages translate to lower switching losses, increased efficiency, and reduced on-resistance, resulting in more compact and efficient power electronic systems. The SiC market is undergoing continuous evolution, with ongoing research and development efforts focused on enhancing performance and reducing costs. SiC-based devices are essential for various industries, including automotive, aerospace, renewable energy, and industrial applications. For instance, in electric vehicle charging infrastructure, SiC Schottky diodes offer improved power conversion efficiency and reliability.

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The Power electronics segment was valued at USD 498.90 billion in 2019 and showed a gradual increase during the forecast period.

Manufacturing advancements, such as epitaxial growth, surface passivation, wafer bonding methods, and doping techniques, contribute to the production of high-quality SiC substrates. Crystal growth techniques, like the modified Chemical Vapor Deposition (CVD) method, facilitate the production of large-sized SiC wafers. Additionally, material characteri

Silicon Carbide (SiC) Wafer Market is Segmented by Wafer Diameter (less Than 4 Inch, and More), 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, and More), Crystal-Growth Technology (PVT, CVD, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

The silicon carbide market size was valued at USD 4.6 billion in 2025 and is projected to reach USD 15.1 billion by the end of 2035, rising at a CAGR of 11.4% during the forecast period from 2026 to 2035. North America industry is anticipated to dominate the market with a share of 35.5%, driven by strong governmental initiatives, strategic recognition of wide bandgap semiconductors, and EPA-backed sustainable chemical processes.

Silicon carbide (SiC) market forecast to 2035 - size, CAGR (8.56%), key players, regional insights, and use cases in EVs, power electronics and renewables

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

Global Silicon Carbide SiC Wafer market size 2021 was recorded $398.321 Million whereas by the end of 2025 it will reach $815 Million. According to the author, by 2033 Silicon Carbide SiC Wafer market size will become $3411.98. Silicon Carbide SiC Wafer market will be growing at a CAGR of 19.6% during 2025 to 2033.

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 Market size was valued at USD 3.68 USD Billion in 2023 and is projected to reach USD 7.98 USD Billion by 2032, exhibiting a CAGR of 11.7 % 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.

Check Market Research Intellect's CVD Silicon Carbide Competitive Market Report, pegged at USD 5.2 billion in 2024 and projected to reach USD 9.1 billion by 2033, advancing with a CAGR of 7.4% (2026-2033).Explore factors such as rising applications, technological shifts, and industry leaders.

The global silicon carbide power semiconductor market size is projected to grow from USD 33.27 billion in 2025 to USD 565.65 billion by 2033, exhibiting a CAGR of 42.5%.
Report Scope:

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.

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 Ultra High Purity Silicon Carbide Market Report is Segmented by Purity Level (Greater Than 99. 9999% (6N), Greater Than 99. 999% (5N), and Greater Than 99. 99999% (7N and Above)), Form (Epitaxial Wafer (4-Inch), Powder, and More), Application (Power Electronics, Semiconductors, and More), End-User Industry (Automotive, Renewable Energy, Telecommunications and 5G, and More), and Geography (Asia-Pacific, North America, and More).

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 size of the Silicon Carbide Powder Market market was valued at USD 2.96 Billion in 2024 and is projected to reach USD 5.26 Billion by 2033, with an expected CAGR of 8.57% during the forecast period. Recent developments include: , The silicon carbide powder market is projected to grow from USD 2.96 billion in 2023 to USD 6.2 billion by 2032, at a CAGR of 8.57%. Increasing demand for silicon carbide powder from the automotive, aerospace, and electronics industries is driving market growth. The rising adoption of electric vehicles and the growing popularity of advanced electronics are key factors contributing to the market's expansion. Asia-Pacific is expected to be the fastest-growing region due to the increasing demand for silicon carbide powder in emerging economies such as China and India. Recent developments include the launch of new products by leading manufacturers such as Cree and STMicroelectronics. Strategic collaborations and partnerships among market players are also expected to drive market growth in the coming years., Silicon Carbide Powder Market Segmentation Insights. Key drivers for this market are: High-voltage power electronics Advanced ceramic applications Abrasives and polishing Lightweight materials Semiconductor devices . Potential restraints include: Rising demand from semiconductors Growing adoption in electronics Advancement in automotive sector Increasing usage in aerospace industry Expansion of renewable energy .

The global silicon carbide fiber (SiCf) market is experiencing robust growth, projected to reach $142 million in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 17.8% from 2025 to 2033. This expansion is driven by increasing demand from diverse sectors, primarily aerospace and defense, where SiCf's exceptional high-temperature strength, lightweight nature, and corrosion resistance are crucial. Advancements in manufacturing processes, leading to improved fiber quality and reduced production costs, further fuel market growth. The automotive industry is also emerging as a significant driver, with applications in high-performance braking systems and lightweight vehicle components gaining traction. While the market faces restraints like the high cost of SiCf compared to traditional materials and the relatively complex manufacturing processes, ongoing research and development efforts focused on enhancing production efficiency and exploring new applications are expected to mitigate these challenges. Key players like Nippon Carbon, UBE Corporation, and Specialty Materials (Global Materials LLC) are strategically investing in capacity expansion and product diversification to capitalize on the growing market opportunities. The regional distribution of market share is likely skewed toward developed economies initially (North America and Europe), with emerging markets in Asia experiencing significant growth potential as industrialization progresses. The forecast period (2025-2033) promises considerable expansion for the SiCf market. This growth will be fueled by ongoing innovation in materials science, producing fibers with enhanced properties and broader application possibilities. Government initiatives promoting the adoption of advanced materials in strategic industries, like aerospace and renewable energy, will also provide significant impetus. However, maintaining a sustainable supply chain and addressing environmental concerns related to SiCf production will be crucial for long-term market sustainability. Competitive dynamics will likely intensify as existing players consolidate their market positions and new entrants emerge, leading to pricing pressures and a focus on differentiation through superior product quality and specialized applications. This dynamic landscape promises continued expansion, presenting attractive opportunities for businesses strategically positioned in the SiCf value chain.