North America Silicon Carbide Market Growth Drivers and Forecast by 2027
North America Silicon Carbide Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Black Silicon Carbide and Green Silicon Carbide), End-Use Industry (Automotive, Aerospace and Aviation, Military and Defense, Electronics and Semiconductor, Medical and Healthcare, Steel, and Others), and Country
- Status : Published
- Report Code : TIPRE00022181
- Category : Chemicals and Materials
- No. of Pages : 91
- Available Report Formats :
- Last update date : May 07, 2021
2019 Market Size
US$ 123.38 Mn
Base year value
2027 Forecast
US$ 336.76 Mn
Projected by 2027
CAGR 2020-2027
13.5 %
Growth rate
Addressable Market
US$ 1,819.45 Mn
(2020-2027)
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.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
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
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 123.38 Million |
| Market Size by 2027 | US$ 336.76 Million |
| CAGR (2020 - 2027) | 13.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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