Silicon carbide has a voltage-dependent resistance characteristic that is useful in semiconductors. The growing need for semiconductor devices that may be used in motor drives, high-temperature sensors, and electro-mechanical computing systems is projected to fuel market expansion. As a result, rising demand for semiconductor devices is likely to fuel silicon carbide market expansion. Silicon carbide market development is expected to be driven by expansion in the automotive industry. Silicon carbide is a brittle material, which presents significant hurdles in the fabrication of microscopic components used in semiconductor devices. This aspect is projected to stifle the expansion of the silicon carbide market. The increasing usage of gallium nitride as a replacement for silicon carbide in power module applications is expected to impede silicon carbide market growth over the forecast period. One of the market's major trends is significant manufacturers' capacity expansion plans to meet expanding global demand. One of the current market trends is strategic alliances such as purchase and merger by significant businesses.
According to Coherent Market Insights, Global Silicon Carbide Market was valued at US$ 8205.0 Million in 2021, in terms of revenue, exhibiting a CAGR of 6.67% during the forecast period (2022 to 2030).
Key Competitors in the Silicon Carbide Industry:
1. AGSCO Corporation
AGSCO Corp is the leading industrial mineral distributor & blasting equipment manufacturer for a variety of industries. The company was founded in 1888, headquartered in Illinois, U.S. Agsco Corporation manufactures and distributes industrial minerals, blasting equipment, and related materials and services. The Company offers minerals, abrasives, floor aggregates, pool aggregates, blasting cabinets, blasting pots, mass finishing equipment, and aqueous parts washers.
2. Carborundum Universal Ltd.
CUMI was founded in 1954 as a tripartite collaboration between the Murugappa Group, The Carborundum Co., USA and the Universal Grinding Wheel Co. Ltd., U.K. The company specializes in the manufacturing of coated abrasives and bonded abrasives in India in addition to the manufacturing of super refractories, electro minerals, industrial ceramics and ceramic fibres. Today the company's range of over 20,000 different varieties of abrasives, refractory products and electro-minerals are manufactured in ten locations across various parts of the country. CUMI is one of the five manufacturers in the world with fully integrated operations that include mining, fusioning, wind and hydro power stations, manufacturing, marketing and distribution. CUMI's products are being exported to 43 countries spread across North America, Europe, Australia, South Africa and Asia. The company is headquartered in Tamil Nadu, India.
3. Entegris Inc. ESD-SIC b.v.
Entegris, Inc. develops, manufactures, and supplies microcontamination control products, specialty chemicals, and advanced materials handling solutions in North America, Taiwan, China, South Korea, Japan, Europe, and Southeast Asia. It operates in three segments: Specialty Chemicals and Engineered Materials (SCEM); Microcontamination Control (MC); and Advanced Materials Handling (AMH). Entegris, Inc. was founded in 1966 and is headquartered in Billerica, Massachusetts.
4. ESK-SIC GmbH
ESK-SIC GmbH manufactures silicon carbide. It offers specialty and ultrafine grades of silicon carbide. ESK-SIC serves customers internationally. The company was founded in 1998, headquartered in Germany.
5. Gaddis Engineered Materials
Gaddis has over 40 years of experience in the manufacturing and distributing of mechanical seal components for the rotating equipment industry. Gaddis, Mechanical Seals, Inc. is a mechanical seal manufacturer that repairs, replicates, and has replacement seals for over 400 brands of pumps, mixers, grinders and compressors. The company was founded on 2017, headquartered in Bangalore, India.
6. Grindwell Norton Ltd.
Grindwell Norton Limited manufactures and sells abrasives, ceramics, and plastic products in India. The company offers bonded abrasives in the form of wheels and other shapes, such as segments, sticks, etc. for various applications, including lapping, honing, super-finishing, thread grinding, fluting, OD grinding, ID grinding, and surface grinding, as well as for rough applications comprising snagging, cutting-off, burr removal, and weld preparation. The company was founded in 1941 and is based in Mumbai, India. Grindwell Norton Limited is a subsidiary of Compagnie de Saint-Gobain.
7. Norstel AB
Norstel AB manufactures and develops wide bandgap semiconductor materials, including silicon carbide (SiC) wafers and epitaxial layers. The company is headquartered in Sweden, founded in 2005.
8. Saint-Gobain Ceramics Materials GmbH
Compagnie de Saint-Gobain S.A. designs, manufactures, and distributes materials and solutions for wellbeing worldwide. It operates through five segments: High Performance Solutions; Northern Europe; Southern Europe Middle East (ME) & Africa; Americas; and Asia-Pacific. The company was founded in 1665 and is headquartered in Courbevoie, France.
9. Snam Abrasives Pvt. Ltd.
Snam Abrasives Private Limited manufactures and sells metal products. The Company offers ferro silicon, magnesium, and inoculants. Snam Abrasives serves customers in India. The company is headquartered in Puducherry, India. Founded on 1981.
*Definition- Silicon carbide is a refractory hard substance composed of silicon and carbon. It is sometimes referred to as carborundum. It may be found in nature as the exceedingly uncommon mineral moissanite.
