The silicon carbide market in Europe is expected to grow from US$ 85.11 million in 2019 to US$ 211.84 million by 2027; it is estimated to grow at a CAGR of 12.2% from 2020 to 2027.
The market for the Europe region includes Germany, France, Italy, the UK, Russia, and the rest of Europe. The chemical industry contributes a major share to the GDP of the region. This industry is supporting the growth of the economy by assisting with various materials to be used in end-use applications that result in the creation of a diversified array of business opportunities and services. The chemical and materials industry of the EU is considered to be a crucial industry as it significantly contributes to the country’s GDP as well as employs millions of people in the region. Increasing demand for silicon carbide in various product processing for end-use application in semiconductor, automotive, electrical, and other industries are influencing the silicon carbide (SiC) Market in Europe.
In case of COVID-19 outbreak, countries in Europe, especially France, 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 European countries, such as Russia, the UK, Italy, Spain and Germany. 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 Europe 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), Europe 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 Europe silicon carbide market vendors.
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Europe Silicon Carbide Market Segmentation
Europe Silicon Carbide Market – By Type
- Black Silicon Carbide
- Green Silicon Carbide
Europe Silicon Carbide Market – By End-User Industry
- Automotive
- Aerospace and Aviation
- Military and Defense
- Electronics and Semiconductor
- Medical and Healthcare
- Steel
- Others
Europe Silicon Carbide Market, by Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Silicon Carbide Market-Companies Mentioned
- Fiven ASA
- Carborundum Universal Limited
- Esd-Sic bv
- Esk-Sic GmbH
- Futong Industry Co. Limited
- Electro Abrasives, LLC
- Washington Mills
- Tifor B.V.
- Grindwell Norton Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, End-Use Industry, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Europe Silicon Carbide Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Expert Opinion
5. Europe Silicon Carbide Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Proliferation of Electronics and Semiconductors Industries
5.1.2 Wide Range of Applications
5.2 Market Restraints
5.2.1 High Material Cost
5.3 Market Opportunities
5.3.1 Increasing Focus on Investments, Product Innovations, Expansion, Partnerships, and Acquisitions
5.4 Future Trends
5.4.1 Rising Adoption of Electric Vehicles
5.5 Impact Analysis of Drivers and Restraint
6. Silicon carbide – Europe Market Analysis
6.1 Silicon carbide Market Overview
6.2 Europe Silicon Carbide Market –Revenue and Forecast to 2027 (US$ Million)
7. Europe Silicon Carbide Market Analysis – By Type
7.1 Overview
7.2 Silicon Carbide Market, By Type (2019 and 2027)
7.3 Black Silicon Carbide
7.3.1 Overview
7.3.2 Black Silicon Carbide: Silicon carbide Market – Revenue and Forecast to 2027 (US$ Mn)
7.4 Green Silicon Carbide
7.4.1 Overview
7.4.2 Green Silicon Carbide: Silicon carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8. Europe Silicon Carbide Market Analysis – By End-Use Industry
8.1 Overview
8.2 Silicon Carbide Market, By End-use industry (2019 and 2027)
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.4 Aerospace and Aviation
8.4.1 Overview
8.4.2 Aerospace and Aviation: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.5 Military and Defense
8.5.1 Overview
8.5.2 Military and Defense: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.6 Electronics and Semiconductors
8.6.1 Overview
8.6.2 Electronics and Semiconductors: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.7 Medical and Healthcare
8.7.1 Overview
8.7.2 Medical and Healthcare: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.8 Steel
8.8.1 Overview
8.8.2 Steel: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.9 Others
8.9.1 Overview
8.9.2 Others: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
9. Europe Silicon Carbide (SiC) Market – Country Analysis
9.1 Overview
9.1.1 Europe: Silicon Carbide (SiC) Market, by Key Country
9.1.1.1 Germany: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 Germany: Silicon Carbide (SiC) Market, Type
9.1.1.1.2 Germany: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.2 France: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 France: Silicon Carbide (SiC) Market, Type
9.1.1.2.2 France: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.3 Italy: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Italy: Silicon Carbide (SiC) Market, Type
9.1.1.3.2 Italy: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.4 UK: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 UK: Silicon Carbide (SiC) Market, Type
9.1.1.4.2 UK: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.5 Russia: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 Russia: Silicon Carbide (SiC) Market, Type
9.1.1.5.2 Russia: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.6 Rest of Europe: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of Europe: Silicon Carbide (SiC) Market, Type
9.1.1.6.2 Rest of Europe: Silicon Carbide (SiC) Market, End-Use Industry
10. Overview- Impact of COVID-19 on Europe Silicon Carbide Market
10.1 Europe: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 Fiven ASA
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.2 Carborundum Universal Limited
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.3 ESD-SIC bv
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.4 ESK-SIC GmbH
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.5 Futong Industry Co. Limited
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.6 Electro Abrasives, LLC
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.7 Washington Mills
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.8 Tifor B.V.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.9 Grindwell Norton Ltd.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Europe Silicon carbide Market –Revenue and Forecast to 2027 (USD Million)
Table 2. Germany Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 3. Germany Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 4. France Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 5. France Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 6. Italy Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 7. Italy Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 8. UK Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 9. UK Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 10. Russia Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 11. Russia Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 12. Rest of Europe Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 13. Rest of Europe Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. Silicon carbide Market Segmentation
Figure 2. Europe Silicon carbide Market Segmentation – By Country
Figure 3. Europe Silicon Carbide Market Overview
Figure 4. Black Silicon Carbide Segment Held Largest Share of Europe Silicon Carbide Market
Figure 5. Rest of Europe Held Largest Share of Europe Silicon carbide Market
Figure 6. Europe Silicon Carbide Market, Key Market Players
Figure 7. Silicon Carbide Market Impact Analysis of Drivers and Restraints
Figure 8. Europe: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Million)
Figure 9. Silicon Carbide Market Revenue Share, By Type (2019 and 2027)
Figure 10. Black Silicon Carbide: Silicon carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 11. Green Silicon Carbide: Silicon carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 12. Silicon Carbide Market Revenue Share, By End-use industry (2019 and 2027)
Figure 13. Automotive: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 14. Aerospace and Aviation: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 15. Military and Defense: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 16. Electronics and Semiconductors: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 17. Medical and Healthcare: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 18. Steel: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 19. Others: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 20. Europe: Silicon Carbide (SiC) Market, by Key Country – Revenue (2019) (USD Million)
Figure 21. Europe: Silicon Carbide (SiC) Market Revenue Share, by Key Country (2019 and 2027)
Figure 22. Germany: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 23. France: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 24. Italy: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 25. UK: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. Russia: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 27. Rest of Europe: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in Europe Country Markets
- Fiven ASA
- Carborundum Universal Limited
- ESD-SIC bv
- ESK-SIC GmbH
- Futong Industry Co. Limited
- Electro Abrasives, LLC
- Washington Mills
- Tifor B.V.
- Grindwell Norton Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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