Silicon Carbide Market Analysis

Product (Black SiC, Green SiC)

The black SiC segment in the silicon carbide market is estimated to gain the largest revenue share of about 54% in the year 2037. The growth of the segment can be attributed to the rising manufacturing of iron and steel with the help of electric arc furnaces. On the other hand, the increasing use of black silicon carbide in wide applications such as grinding and metalworking is also expected to drive the growth of the segment. Black SiC ensures higher durability, versatility, and quality during SiC application.

Application (Energy & Power, Transportation, Steel & Metallurgy, Electronics & Optoelectronics, Space Research, Automotive, Telecommunication, Industrial)

Silicon carbide market from the electronics & optoelectronics segment is expected to garner a significant share of around 30% in the year 2037. The rising demand for electronic chips followed by higher expenditure on them is expected to augment the growth of the segment. In 2022, the total expenditure on chip equipment increased by 10%, amounting to around USD 98 billion, worldwide. Moreover, the growing infrastructure of semiconductor manufacturing companies is also expected to drive the segment’s growth.

Our in-depth analysis of the global market includes the following segments:

Device	SiC Module SiC Discreet Device
Product	Black SiC Green SiC
Wafer Size	Up to 10 MM More Than 150 MM
Application	Energy & Power Transportation Steel & Metallurgy Space Research Electronics & Optoelectronics Automotive Telecommunication Industrial

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of silicon carbide is evaluated at USD 1.48 billion.

The silicon carbide market size was valued at USD 1.32 billion in 2024 and is likely to exceed USD 8.23 billion by the end of 2037, expanding at over 14.9% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for silicon carbide and higher investment in semiconductor industry will boost the market growth.

Asia Pacific industry is projected to be the largest with a share of about 38% by 2037, impelled by increasing manufacturing of steel in the region.

The major players in the market include AGSCO Corporation, SK Siltron CSS, ESD-SIC b.v, Carborundum Universal Limited, Microchip Technology Inc., Coorstek, Inc., Entegris, Inc., Snam Abrasives Pvt. Ltd., Gaddis Engineered Materials, Sana Optoelectronics.

Silicon Carbide Market Analysis