Silicon Carbide Market size is valued at USD 3,482.5 million in 2021 and is expected to grow at a CAGR of 11.9% during the forecast period 2022 to 2028. The global market provides a detailed overview of the global silicon carbide market, and that can be segmented by product, by device, by crystal structure, by application, and by end user. By product, the global silicon carbide market has been segmented into Black SiC, Green SiC and Others. Black SiC segment is likely to be the largest and fastest-growing segment in terms of type. Based on device, the global silicon carbide market is segmented into SiC Discrete Devices, SiC MOSFET, SiC Diode, SiC Module, and Thyristors. Among these, the SiC Discrete Devices segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on crystal structure, the global silicon carbide market is segmented into Zinc Blende (3C-SIC), Wurtzite (4H-SIC), Wurtzite (6H-SIC) and Rhombohedral (15R-SIC). The Zinc Blende (3C-SIC) segment accounts for the largest share in 2021. Based on the application, the segment has been segregated into Power Grid Device, RF Device & Cellular Base Station, High-Voltage, Direct Current (HVCD), Flexible Ac Transmission Systems (FACTS), Lighting Control, Power Supply and Inverter, Flame Detector, Industrial Motor Drive, EV Motor Drive, Flame Detector, Electronic Combat System, Solar Energy, Wind Energy and Others. The Power Supply and Inverter segment is expected to dominate other segments in the global silicon carbide market. The Electronic Combat System segment is expected to witness the highest CAGR during the forecast period according to precision business insights. Based on end user, the global silicon carbide market is segmented into Energy & Power, Automotive, Power Electronics & Telecommunication, Defense and Others. The Energy & Power accounts for the largest share in 2021.
In Aug 2022, Infineon Technologies AG and II-VI Incorporated signed a multi-year supply agreement for silicon carbide (SiC) wafers.
In Sept 2022, On Semiconductor announced that it is expanding its silicon carbide (SiC) facility in Roznov, Czech Republic.