Silicon Carbide Market - By Product Type (Black Silicon Carbide, Green Silicon Carbide, Other Silicon Carbide Types), By Device Type, By Wafer Size, By Application, By Production Method, By End-Use Industry & Forecast, 2024 – 2032

Silicon Carbide Market Size

Silicon Carbide Market was valued at USD 3.1 billion in 2023 and is anticipated to grow at a CAGR of over 30% between 2024 and 2032. As the adoption of renewable energy sources increases, there is a growing need for energy storage solutions to manage the variability of renewable energy generation.
 

SiC technology is crucial in power converters and inverters used in energy storage systems, such as batteries and supercapacitors. The efficiency and reliability of SiC devices help in stabilizing the grid and ensuring a steady supply of renewable energy. For instance, in July 2024, onsemi made a significant advancement in the transition to electrification and renewable energy by introducing its latest generation of silicon carbide technology platform, EliteSiC M3e MOSFETs. onsemi announced plans to release several additional generations of this technology through 2030, underscoring its commitment to reducing carbon emissions and fostering a sustainable future.
 

The rising adoption of Electric Vehicles (EVs) is significantly driving the demand for Silicon Carbide (SiC) technology. SiC semiconductors offer several advantages that align with the needs of modern EVs, making them a crucial component in this growing market. SiC semiconductors are known for their superior efficiency compared to traditional silicon-based components. In EVs, SiC devices improve the efficiency of power inverters and converters, which are essential for managing the power flow between the battery and electric motor. This enhanced efficiency translates to better overall vehicle performance and increased driving range. For instance, in October 2022, Jaguar Land Rover and Wolfspeed, Inc. announced a strategic partnership to supply silicon carbide semiconductors for the next generation of electric vehicles. This collaboration aims to enhance powertrain efficiency and extend driving range, marking a significant advancement in electric vehicle technology.
 

SiC devices, while offering superior performance, come with technical complexity that can pose integration challenges. The high voltage and temperature capabilities of SiC components require careful design and integration into existing systems. This complexity leads to longer development times and higher engineering costs. Additionally, existing infrastructure and systems may need significant modifications to fully leverage the benefits of SiC technology, which can be a barrier for industries transitioning from traditional silicon solutions.
 

Silicon Carbide Market Trends

The expansion of telecommunication infrastructure is driving several key trends in the Silicon Carbide (SiC) market, particularly as the industry moves towards more advanced and efficient technologies to support the growing demand for high-speed connectivity, 5G networks, and beyond. As 5G networks continue to be deployed globally, there is a rising need for high-performance, energy-efficient power electronics in base stations. SiC technology is increasingly being adopted in these applications due to its superior efficiency, higher voltage operation, and reduced heat generation compared to traditional silicon-based components. This allows for more compact and reliable power systems that can handle the higher power demands of 5G infrastructure. The growing demand for high-power telecommunications equipment, such as data centers and network infrastructure, is another trend fueling the adoption of SiC technology. SiC power semiconductors enable the development of high-power converters and inverters that are more efficient and compact, which is essential for supporting the large-scale power requirements of modern telecom networks
 

The increased adoption of SiC in power electronics is a notable trend driven by the need for higher efficiency and performance in various applications. SiC devices, such as MOSFETs and diodes, are increasingly used in power converters, inverters, and other high-power applications due to their ability to operate at higher temperatures and voltages compared to traditional silicon devices. For instance, in November 2023, Mitsubishi Electric Corporation announced a strategic partnership with Nexperia B.V. to collaboratively develop Silicon Carbide (SiC) power semiconductors for the power electronics market. Mitsubishi Electric will harness its wide-bandgap semiconductor technologies to develop and supply SiC MOSFET chips, which Nexperia will then use to create SiC discrete devices.
 

Silicon Carbide Market Analysis

Based on the device type, the market is segmented into SiC discrete devices, SiC modules, and other SiC devices. The SiC modules represent the fastest growing segment, with a CAGR of over 30% between 2024 and 2032.
 

• The rapid expansion of the EV market, driven by global efforts to reduce carbon emissions and transition to cleaner energy sources, is a major catalyst for the growth of SiC modules. Companies like Tesla, BYD, and Volkswagen are increasingly incorporating SiC modules into their electric vehicles to enhance energy efficiency and extend driving range.
   
• The renewable energy sector is another key area where SiC modules are gaining traction. SiC modules are being increasingly used in solar inverters, wind turbine converters, and energy storage systems due to their ability to operate at higher frequencies, voltages, and temperatures than traditional silicon-based solutions.
   

Based on the product type, the market is segmented into black silicon carbide, green silicon carbide, and other silicon carbide types. The black silicon carbide segment dominated the market in 2023 and is expected to reach over USD 15 billion by 2032.
 

• Black silicon carbide is widely used in abrasive applications due to its hardness and strength. It is commonly employed in grinding, cutting, and polishing operations across industries like automotive, aerospace, and metalworking. The growing demand for high-performance abrasive materials in these sectors is a significant trend contributing to the expansion of the black silicon carbide market. Additionally, its use in refractory materials, which are essential for high-temperature industrial processes, is also on the rise.
   
• Black silicon carbide is also increasingly being used in metallurgical applications, especially as a deoxidizer and in the production of silicon and silicon alloys. Its properties make it an excellent choice for improving the efficiency of metallurgical processes and enhancing the quality of the final products. The growing steel and aluminum industries are major consumers of black silicon carbide, as it helps reduce impurities and improve the mechanical properties of metals.
   

The silicon carbide market is experiencing growth in North America and is expected to reach USD 10 billion by 2032. North America exhibits robust demand for silicon carbide (SiC) due to its advancements in technology and increasing adoption of electric vehicles (EVs) and renewable energy systems. The U.S. and Canada are key markets, driven by a high concentration of semiconductor and electronics companies and growing investments in energy-efficient technologies.
 

U.S. market is driven by significant investments in clean energy and electrification. The country’s focus on renewable energy sources and energy-efficient technologies is bolstering demand for SiC components, especially in power electronics and automotive applications.
 

Canada's SiC market is growing due to the country's focus on sustainable energy solutions and advancements in power electronics. The Canadian government's support for clean energy initiatives is fostering the adoption of SiC devices in various applications.
 

European silicon carbide market is experiencing substantial growth, fueled by the region's strong commitment to renewable energy, electric vehicles (EVs), and energy-efficient technologies. The European Union's stringent policies aimed at reducing carbon emissions and its aggressive promotion of green technologies are key drivers in the increasing adoption of SiC devices across various industries. Europe's ambitious climate goals and initiatives, such as the European Green Deal, are accelerating the transition towards renewable energy sources like wind and solar power. SiC technology is integral to this shift, as it enhances the efficiency and performance of power conversion systems in renewable energy applications.
 

Asia Pacific region exhibits strong demand for SiC due to its rapid industrialization, growing automotive sector, and increasing adoption of renewable energy technologies. China, Japan, and South Korea are key markets driving the growth of SiC in the region.
 

China's market is growing rapidly due to the country's focus on renewable energy, electric vehicles, and industrial modernization. The government's policies supporting green technologies and energy efficiency are driving demand for SiC components.
 

Japan's silicon carbide market is driven by advancements in power electronics, renewable energy systems, and the automotive sector. The country's emphasis on technological innovation and sustainability is supporting the growth of SiC devices. In June 2024, Japan-based power semiconductor device maker ROHM Co Ltd introduced its EcoSiC brand as a trademark for products utilizing silicon carbide (SiC).
 

South Korea's market is experiencing growth due to the increasing adoption of electric vehicles, renewable energy systems, and advancements in power electronics. The country's focus on innovation and sustainability is driving demand for SiC devices. In October 2023, power semiconductor IC supplier onsemi, based in Phoenix, AZ, USA, completed the expansion of its silicon carbide (SiC) fabrication facility in Bucheon, South Korea. Claimed to be the world’s largest SiC wafer fabrication plant, the facility will have the capacity to produce over 1 million 200mm SiC wafers annually at full operation.
 

Silicon Carbide Market Share

ROHM Co., Ltd. and STMicroelectronics N.V. collectively held a significant share of the silicon carbide industry in 2023. ROHM Co., Ltd., a leading Japanese semiconductor manufacturer, has made significant strides in the silicon carbide (SiC) market with its introduction of the EcoSiC brand. This move reflects ROHM's commitment to advancing SiC technology and addressing the growing demand for high-performance power semiconductors.
 

STMicroelectronics N.V. is a prominent player in the Silicon Carbide (SiC) market, known for its significant contributions to the development and commercialization of SiC technology. Headquartered in Geneva, Switzerland, STMicroelectronics is a global semiconductor leader, providing a wide range of products and solutions for various industries, including automotive, industrial, and consumer electronics.
 

Silicon Carbide Market Companies

Major players operating in the silicon carbide industry are:

• ROHM Co., Ltd.
• STMicroelectronics N.V.
• Infineon Technologies AG
• ON Semiconductor Corporation
• GeneSiC Semiconductor Inc.
• Microsemi Corporation
• General Electric Company (GE Aviation)
   

Silicon Carbide Industry News

• In May 2024, STMicroelectronics announced plans to establish a new high-volume 200mm Silicon Carbide (SiC) manufacturing facility in Catania, Italy, dedicated to producing power devices and modules, as well as conducting testing and packaging.
   
• In December 2023, ASTAR and centrotherm International AG (centrotherm) announced a partnership to advance 200mm Silicon Carbide (SiC) technology. This collaboration integrates ASTAR Institute of Microelectronics’ (IME) pioneering 200mm open Research and Development (R&D) SiC pilot line with centrotherm’s state-of-the-art diffusion and annealing tools.
   

The silicon carbide market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2024 to 2032, for the following segments:

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Market, By Product Type

• Black silicon carbide
• Green silicon carbide
• Other silicon carbide types

Market, By Device Type

• SiC discrete devices
  • Diodes
  • MOSFETs
  • BJTs (Bipolar Junction Transistors)
  • JFETs (Junction Field Effect Transistors) 
• SiC modules
• Other SiC devices

Market, By Wafer Size

• 2-inch
• 4-inch
• 6-inch and above

Market, By Application

• Power electronics
  • Power supply and inverter
  • Wireless charging
  • Power grid devices
  • Industrial motor drives
  • Electric vehicle charging infrastructure
  • Renewable energy systems 
• Optical Devices
  • LED lighting
  • Photonics
  • Laser applications
  • UV detectors
• Sensing
  • Pressure sensors
  • Temperature sensors
  • Gas sensors
  • Radiation detectors
  • Other applications

Market, By Production Method

• Acheson process
• Physical Vapor Transport (PVT)
• Chemical Vapor Deposition (CVD)
• Other production methods

Market, By End-Use Industry

• Automotive
• Aerospace & defense
• Telecommunications
• Energy & power
• Healthcare
• Electronics & semiconductors
• Industrial manufacturing
• Oil & gas
• Mining
• Chemical processing
• Consumer electronics
• Research & development

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA