North America Silicon Carbide Market Growth Drivers and Forecast by 2027

The silicon carbide market in North America is expected to grow from US$ 123.38 million in 2019 to US$ 336.76 million by 2027; it is estimated to grow at a CAGR of 13.5% from 2020 to 2027.

The North American region comprises developed economies such as U.S. and Canada, as well as Mexico as a developing nation. The companies are continuously enhancing the overall business processes to meet the customer's demand in the best possible way. Several domestic and international companies have a strong foothold in the North American region. In the North American region, the US is a major market for silicon carbide, followed by Canada and Mexico. The region largely supports the growth of the Silicon Carbide (SiC) Market through effective manufacture and trade policies.  

In case of COVID-19 outbreak, countries in North America, especially the US, reported an unprecedented rise in the number of confirmed cases, which led to the discontinuation of silicon carbide manufacturing activities. Other chemical and materials manufacturing sector has negatively impacted the demand for silicon carbide during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to the discontinuation of silicon carbide components manufacturing projects, thereby reducing the demand for silicon carbide. Similar trend was witnessed in other North American countries, such as Canada, Mexico, and Costa Rica. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America silicon carbide market. Silicon carbide is a semiconductor, and it is being used widely in electronics and semiconductors industries as a replacement of silicon. It offers greater breakdown electric field strength, band gap, and thermal conductivity, along with enabling a wider range of p- and n-type control required for the construction of a device. For instance, silicon has a band gap of ~1.12, whereas silicon carbide offers a band gap of ~3.26. Similarly, thermal conductivity for silicon carbide is 1490 W/m-K, which is significantly higher than the thermal conductivity of silicon—150 W/m-K. A majority of silicon carbide is being used to make diodes that are used in power supplies and hybrid modules such as PV7. According to the statistics cited by the Semiconductor Industry Association (SIA), North America sales of semiconductors witnessed a hike of 4.8% on year-to-year basis and a hike of 6.0% on month-to-month basis. Moreover, 2021 is likely to be a promising year for semiconductors businesses as per the predictions by the World Semiconductor Trade Statistics (WSTS) organization. Such promising statistics depict the growth of electronics and semiconductor industries, making them a lucrative market segment for the North America silicon carbide market vendors.

North America Silicon Carbide Market Segmentation      

North America Silicon Carbide Market – By Type

• Black Silicon Carbide
• Green Silicon Carbide

North America Silicon Carbide Market – By End-User Industry

• Automotive
• Aerospace and Aviation
• Military and Defense
• Electronics and Semiconductor
• Medical and Healthcare
• Steel
• Others

North America Silicon Carbide Market, by Country

• US
• Canada
• Mexico

North America Silicon Carbide Market-Companies Mentioned

• Agsco Corp
• Carborundum Universal Limited
• Futong Industry Co. Limited
• Electro Abrasives, LLC
• Washington Mills
• Grindwell Norton Ltd.

North America Silicon Carbide Report Scope