Silicon Carbide Powder Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Silicon Carbide Powder Market Size and Forecasts (2021 - 2031), Global and Regional Growth Opportunity Analysis, and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00012563
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 150
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MARKET ANALYSIS

Silicon carbide or carborundum are hard, iridescent crystals, made of carbon and silicon. Silicon carbide powder possesses several distinct properties such as low density, low thermal expansion, oxidation resistance, excellent chemical resistance, high wear and hardness resistance, high strength, high thermal shock resistance, and high temperature resistance and stability. Silicon carbide powder has wide range of applications that include abrasive blasting, anti-slip, coated abrasives, ceramics, grinding wheels, metallurgical, refractories, wiresawing, wear-resistance, lapping, filtration, insulation, and many others.

GROWTH DRIVERS AND CHALLENGES

The growing demand for silicon carbide across the electrical and electronics industry has aided the silicon carbide powder market growth in the past few years. The demand for silicon carbide powder has increased due to its broad utilization in the electronics industries for several applications such as SiC devices, Schottky diodes and FET/MOSFET transistors, comprises of converters, battery chargers, inverters, power supplies, and motor control systems. The semiconductors which are based on silicon carbide provide higher thermal conductivity, lower power losses, and higher electron mobility. Silicon carbide powder can be integrated to form rigid ceramics which are used in applications that require high endurance. Also, it can be used in manufacturing of semiconductors due to its property which can hold up to high temperatures and high voltages. Moreover, the rising demand for smart consumer electronic is creating lucrative opportunities for the silicon carbide powder market.

The challenges faced by the silicon carbide market include fluctuation of bandgap and energy gap in the high-power applications. The traditional manufacturing of silicon carbide powder might generate significant wastage from the manufacturing unit and the bandgap and energy gap of silicon carbide directly affect its performance in high power applications. This might limit the adoption of silicon carbide in high power applications.

REPORT SEGMENTATION AND SCOPE

The "Global Silicon Carbide Powder Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global silicon carbide powder market trends and growth opportunities. The report aims to provide an overview of the global silicon carbide powder market with detailed market segmentation by type, application, and geography. The global silicon carbide powder market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of silicon carbide powder worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the silicon carbide powder market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the silicon carbide powder market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative silicon carbide powder market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global silicon carbide powder market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global silicon carbide powder market is segmented on the basis of type, and application. Based on type, the silicon carbide powder market is segmented as, sintered silicon carbide, nitride bonded silicon carbide, reaction bonded silicon carbide and others. The silicon carbide powder market is categorized on the basis of application into automotive, power generation, steel manufacturing, aerospace and defence, electrical and electronics, medical and healthcare, and others.

Based on application, the electrical and electronics segment accounted for a significant market share in 2022. Silicon carbide is mostly suitable for high voltage application such as power converters, inverters, and power modules. It enables efficient power conversion, reduces energy loss, and also enables, high operating temperatures. Therefore, it is used in various electrical & electronic appliances.

REGIONAL ANALYSIS

The report provides a detailed overview of the global silicon carbide powder market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Europe has been one of the growing markets in the silicon carbide industry which is mostly driven by rising demand across automotive, renewable energy, and power electronics industries. The region focuses on clean energy and electric mobility that has contributed to the adoption of silicon carbide in electric vehicles and renewable energy systems. Countries like Germany, UK, and Sweden are the rapidly growing markets in due to the booming demand for green energy, development of sustainable energy infrastructure, and favorable government regulations.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global silicon carbide powder market.

On 14th Feb 2023, The KATEK’s Group coolcept fleX series of Steca solar inverters that feature silicon carbide semiconductors that reduce the overall weight and size of the inverters. These inverters outperform than the non-silicon carbide (non-SiC) models.

 In March 2023, Wolfspeed has announced SpeedVal Kit™, a modular platform for a holistic approach to testing of silicon carbide (SiC) devices.

IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

The covid-19 pandemic led to a decline in the progress of many industries across the globe. The pandemic led to too many disruptions in the global supply chain which affected the production and distribution of silicon carbide powder. Many manufacturing plants faced temporary shutdown which resulted in reduced production and delay in the delivery of products to customers. This resulted in short term supply chain constraints and impacted the product price. However, in 2021, as economies resumed their operations due to relaxation of government regulation, the silicon carbide powder market witnessed recovery.  

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the silicon carbide powder market include, Saint Gobain, Futong Industry Co Ltd, CUMI Minerals, Imerys, Zhengzhou Xinli Wear-resistant Materials Co Ltd, LKAB Minerals, Motim Electrocorundum Ltd, Henan Ruishi Renewable Resources Group Co Ltd, RusAL, Washington Mills among others.

REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

The List of Companies

1. Carborundum Universal Limited
2. Entegris, Inc.
3. AGSCO Corporation
4. Dow Chemical Co.
5. ESD-SIC b.v.
6. Saint Gobain Ceramic Materials GmbH
7. ESK-SIC GmbH
8. GrindwellNorton Ltd.
9. Ningxia Jinjing
10. Sinosi

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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