Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Silicon Carbide Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Expected Market Growth Rates for the Silicon Carbide Market?
The market for silicon carbide has seen significant expansion in the last few years. The historical growth trend shows a rise from $2.68 billion in 2024 to $3.1 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 15.7%.
What Are the Expected Market Growth Trends for the Silicon Carbide Market Through 2029?
In 2029, the Silicon Carbide market is predicted to reach a size of $5.81 billion, growing at a compound annual growth rate (CAGR) of 17.0%.
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What Are the Key Business Drivers in the Silicon Carbide Market Landscape?
The key Drivers in the silicon carbide market are:
• Rising demand for electric vehicles
• Silicon Carbide's higher thermal conductivity and voltage handling capabilities
• Reduction in vehicle weight and cost through use of Silicon Carbide
• Strong growth trend in electric vehicle sales
How Is the Silicon Carbide Market Divided Across Key Categories?
The silicon carbidemarket covered in this report is segmented –
1) By Product: Black Silicon Carbide, Green Silicon Carbide
2) By Device Type: SiC Discrete Device, SiC Bare Die
3) By Application: Steel, Automotive, Aerospace, Military And Defense, Electrical And Electronics, Healthcare, Other Applications
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What Are the Ongoing Trends in the Silicon Carbide Market?
The key trends in the silicon carbide market are:
• Companies in the Silicon Carbide market are focusing on the development of smaller and lighter components.
• The introduction of these components is essential in enhancing vehicle performance and energy consumption.
• A new wave of silicon carbide power technology shows improvements in power efficiency, density, and robustness.
• These advancements cater specifically to the needs of next-generation electric vehicle traction inverters.
Which Companies are Expanding in the Silicon Carbide Industry?
The key players in the silicon carbide market are:
• Infineon Technologies AG
• Cree Inc.
• ROHM Co. Ltd.
• ESK-SIC GmbH
• ESD-SIC BV
• Grindwell Norton Limited
• Entegris Inc.
• Saint-Gobain Ceramic Materials GmbH
• AGSCO Corporation
• Carborundum Universal Limited
• Dow Inc.
• Fuji Electric Co. Ltd.
• General Electric Company
• Microchip Technology Incorporated
• Snam Abrasives Pvt. Ltd.
• STMicroelectronics N.V.
• Mitsubishi Chemical Corporation
• Arkema S.A.
• Shandong Ruifeng Chemical Co. Ltd.
• Bridgestone Corporation
• Washington Mills Electro Minerals Corporation
• LG Innotek Co. Ltd.
• Pallidus Inc.
• Cree Inc.
• Elsid S.A.
• Asron AB
• CoorsTek Inc.
Which is the Largest Region the Global Silicon Carbide Market?
Asia-Pacific was the largest region in the silicon carbide market in 2024
