Research Reports
Silicon Carbide Market To Surpass US$ 11,965.9 Million By 2027
Published by Coherent Market Insights
Posted on September 28, 2021
3 min readLast updated: February 1, 2026
Global Banking & Finance Review®
Company
Published by Coherent Market Insights
Posted on September 28, 2021
3 min readLast updated: February 1, 2026
The global silicon carbide market is set to exceed $11,965.9 million by 2027, driven by technological advancements and increased demand in the steel industry.
The global silicon carbide market was estimated to be valued more than US$ 3,821.4 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 15.3% during the forecast period (2020 to 2027).
Key Players:
AGSCO Corporation, Carborundum Universal Ltd., Entegris Inc. ESD-SIC b.v., ESK-SIC GmbH, Gaddis Engineered Materials, Grindwell Norton Ltd., Norstel AB, Saint-Gobain Ceramics Materials GmbH, and Snam Abrasives Pvt. Ltd.
Silicon carbide is broadly used in high power devices, optoelectronics devices, high-temperature devices, and high-frequency power devices. Robust growth in the steel industry due to the increasing production of steel is a prime factor driving the market growth of the silicon carbide. Silicon carbide (SiC) is used as a deoxidizing agent in steel production.
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The progress in different sectors of the market that are highly dependent on market characteristics, industry chain, and market dynamics are also appearing in higher demand for the Silicon Carbide market. Due to the increase of new technologies, the Silicon Carbide market has been assisted in the development of the industry.
Capacity expansion plan by key manufacturers to cater to growing needs around the globe is one of the emerging trends in the market. For instance, in September 2019, Cree, Inc. a manufacturer of silicon carbide (SiC) technology, announced plans to establish a silicon carbide corridor on the East Coast of the United States with the creation of the largest silicon carbide fabrication facility. Such initiatives by key manufacturers will favor the market growth of the silicon carbide over the forecast period.
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https://www.coherentmarketinsights.com/ongoing-insight/cvd-silicon-carbide-market-3492
The post Silicon Carbide Market To Surpass US$ 11,965.9 Million By 2027 appeared first on Gatorledger.
The article discusses the growth and forecast of the global silicon carbide market, projected to surpass $11,965.9 million by 2027.
Key players include AGSCO Corporation, Carborundum Universal Ltd., and Saint-Gobain Ceramics Materials GmbH.
Robust growth in the steel industry and technological advancements are primary factors driving the silicon carbide market growth.
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