The Global CVD Silicon Carbide Market Growth Accelerated By Infrastructure Development And Automotive Industry Growth

CVD Silicon Carbide Market

Chemical vapor deposition (CVD) silicon carbide is a synthetic crystalline compound consisting of silicon and carbon. It has excellent thermal properties like high thermal conductivity and resistance to oxidation at high temperatures making them suitable for applications in semiconductor industry, solar industry, metallurgical industry, and automotive industry.

The global CVD silicon carbide market is estimated to be valued at US$ 643.6 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Infrastructure development especially in emerging economies such as India, China and countries in Southeast Asia is expected to drive the demand for CVD silicon carbide over the forecast period. Various infrastructure projects such as construction of roads, bridges, airports, metro rails require materials that can withstand high temperatures and have high mechanical strength. CVD silicon carbide meets these requirements making it ideal for application in infrastructure industry. Furthermore, the growing automotive industry especially electric vehicles is augmenting the demand for CVD silicon carbide. Silicon carbide semiconductors improve the efficiency of power converters in electric vehicles batteries and enable faster charging of electric vehicles. Their excellent thermal conductivity also helps manage the heat generated in electric vehicles battery packs. The increasing electric vehicles production and sales is thus expected to boost the consumption of CVD silicon carbide.

Segment Analysis

The global CVD silicon carbide market is segmented into black silicon carbide and green silicon carbide. Black silicon carbide accounts for over 60% of market share making it the dominating segment. This is because black silicon carbide is the oldest and most common form of silicon carbide. It is used extensively in refractories, friction products, metallurgical industry and abrasives industry due to their superior hardness, wear resistance and thermal conductivity.

Key Takeaways

The global CVD Silicon Carbide Market Demand is expected to witness high over the forecast period. The market is expected to grow at a CAGR of 6.8% during 2023-2030 to reach a market size of US$ 1,095.3 Mn by 2030 from US$ 643.6 Mn in 2023.

Regional analysis

Asia Pacific region currently dominates the global CVD silicon carbide market with over 40% market share. China is the largest consumer as well as producer of CVD silicon carbide globally. Presence of major CVD silicon carbide producing countries such as China, Japan and India provides impetus to the market growth in the region. North America and Europe are other major markets for CVD silicon carbide driven by developed end use industries.

Key players

Key players operating in the CVD silicon carbide market are FLSmidth & Co. A/S, Metso Oyj, Koppern Group, CITIC Heavy Industries Co. Ltd. (CITIC HIC), ThyssenKrupp Industrial Solutions AG (Polysius AG), SGS S.A., KHD Humboldt Wedag International AG, Outotec Oyj, and ABB Ltd. The key players are focusing on new product launches and expansion of production facilities globally to further strengthen their market position.

Get more insights on this topic:  https://www.newsstatix.com/cvd-silicon-carbide-market-analysis-size-share-growth/