Silicon Carbide Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Global Silicon Carbide (SiC) Market Report is Segmented by Product (Green SiC, Black SiC, and Other Products), Application (Steel Manufacturing, Energy, Automotive, Aerospace and Defense, Electronics and Semiconductor, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). For all the Above Segments, Market Sizing and Forecasts Have Been Done Based On Revenue (USD).

Silicon Carbide Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Silicon Carbide Market Size

Silicon Carbide Market Summary
Study Period 2024 - 2030
Market Size (2025) USD 3.63 Billion
Market Size (2030) USD 5.85 Billion
CAGR (2025 - 2030) 10.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Silicon Carbide Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Silicon Carbide Market with other markets in Chemicals & Materials Industry

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Silicon Carbide Market Analysis

The Silicon Carbide Market size is estimated at USD 3.63 billion in 2025, and is expected to reach USD 5.85 billion by 2030, at a CAGR of greater than 10% during the forecast period (2025-2030).

  • The major factors driving the market studied are strong demand from the steel manufacturing and steel processing industry and rapidly growing demand from the electronics industry.
  • Some factors restraining the demand for the market include fluctuating costs of raw materials like coal and petroleum coke. Moreover, the availability of substitutes such as gallium nitride might also cause challenges.
  • The rising penetration of electric vehicles is expected to offer various opportunities for the growth of the market.
  • Asia-Pacific dominated the market globally, with the most significant consumption from countries such as China, India, and Japan.

Silicon Carbide Industry Overview

The silicon carbide market is partially consolidated, with players accounting for a significant market share. Some key market players (not in any particular order) include Saint-Gobain, Imerys, Tokai Carbon Co. Ltd, Schunk Ingenieurkeramik GmbH, and Morgan Advanced Materials.

Silicon Carbide Market Leaders

  1. Saint-Gobain

  2. Imerys

  3. Tokai Carbon Co., Ltd.

  4. Schunk Ingenieurkeramik GmbH

  5. Morgan Advanced Materials

  6. *Disclaimer: Major Players sorted in no particular order
Silicon Carbide Market Overview
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Silicon Carbide Market News

  • October 2023: DENSO CORPORATION announced an investment of USD 500 million in Silicon Carbide LLC, Coherent Corp.’s silicon carbide (SiC) business, to ensure a long-term stable procurement of SiC wafers to enhance the competitiveness of its electrification components.
  • May 2023: Saint-Gobain NORPRO, a business unit of Saint-Gobain Ceramics, announced the acquisition of 50.1% shares in SICAT GmbH & Co. KG, which manufactures beta silicon carbide and carbon catalyst supports. This acquisition was made to enable Saint-Gobain NORPRO to extend its carrier offerings within biofuel and clean energy spaces by adding beta SiC and Carbon products to its product portfolio.
  • September 2022: SK Siltron, a global maker of semiconductor wafers, announced that it would invest USD 1.65 billion by 2026 and allocate USD 0.7 billion to build new wafer manufacturing in Gumi National Industrial Complex.
  • May 2022: SK Siltron announced that the newly built US-Bay City plant would increase production capacity, estimating over 100,000 silicon carbide sheets annually.

Silicon Carbide (SiC) Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Strong Demand from the Electronics Industry
    • 4.1.2 Increasing Demand for Advanced Ceramics
  • 4.2 Restraints
    • 4.2.1 Fluctuating Costs of Raw Materials
    • 4.2.2 Availability of Substitutes such as Gallium Nitride
  • 4.3 Industry Value Chain Analysis
  • 4.4 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Value)

  • 5.1 By Product
    • 5.1.1 Green SiC
    • 5.1.2 Black SiC
    • 5.1.3 Other Products
  • 5.2 By Application
    • 5.2.1 Steel Manufacturing
    • 5.2.2 Energy
    • 5.2.3 Automotive
    • 5.2.4 Aerospace and Defense
    • 5.2.5 Electronics and Semiconductor
    • 5.2.6 Other Applications
  • 5.3 By Geography
    • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 Malaysia
    • 5.3.1.6 Thailand
    • 5.3.1.7 Indonesia
    • 5.3.1.8 Vietnam
    • 5.3.1.9 Rest of Asia-Pacific
    • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
    • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 Italy
    • 5.3.3.4 France
    • 5.3.3.5 Russia
    • 5.3.3.6 Turkey
    • 5.3.3.7 Spain
    • 5.3.3.8 NORDIC
    • 5.3.3.9 Rest of Europe
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Colombia
    • 5.3.4.4 Rest of South America
    • 5.3.5 Middle East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 South Africa
    • 5.3.5.3 Qatar
    • 5.3.5.4 Nigeria
    • 5.3.5.5 United Arab Emirates
    • 5.3.5.6 Egypt
    • 5.3.5.7 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share (%)**/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Blasch Precision Ceramics Inc.
    • 6.4.2 Christy Refractories
    • 6.4.3 Imerys
    • 6.4.4 Keith Company
    • 6.4.5 Morgan Advanced Materials
    • 6.4.6 NGK Insulators Ltd
    • 6.4.7 Silcarb Recrystallized Private Limited
    • 6.4.8 Saint Gobain
    • 6.4.9 Termo Refractaires
    • 6.4.10 The Pottery Supply House
    • 6.4.11 Fiven ASA
    • 6.4.12 KEYVEST
    • 6.4.13 Navarro SiC
    • 6.4.14 Schunk Ingenieurkeramik GmbH
    • 6.4.15 Superior Graphite
    • 6.4.16 Tateho Chemical Industries Co. Ltd
    • 6.4.17 ESD-SIC BV
    • 6.4.18 ELSID SA
    • 6.4.19 Zaporozhsky Abrasinvy Combinat
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Increase Market Penetration of Electric Cars and Self-driving Cars
  • 7.2 Growth of Usage in Nanotechnology
**Subject to Availability
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Silicon Carbide Industry Segmentation

Silicon carbide is a hard refractory material that is a synthetically produced crystalline compound of silicon and carbon. It has been an essential material for sandpapers, grinding wheels, and cutting tools. However, it has found applications in refractory linings and heating elements for industrial furnaces, in wear-resistant parts for pumps and rocket engines, and in semiconducting substrates for light-emitting diodes.

The silicon carbide market is segmented by product, application, and geography. By product, the market is segmented into green SiC and black SiC. By application, the market is segmented into steel manufacturing, energy, automotive, aerospace and defense, electronics and semiconductors, and other applications (manufacturing of cutting tools, etc.). The report also offers market size and forecasts for 27 countries across major regions. For all the above segments, market sizing and forecasts have been done based on revenue (USD).

By Product Green SiC
Black SiC
Other Products
By Application Steel Manufacturing
Energy
Automotive
Aerospace and Defense
Electronics and Semiconductor
Other Applications
By Geography Asia-Pacific China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
Italy
France
Russia
Turkey
Spain
NORDIC
Rest of Europe
South America Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa Saudi Arabia
South Africa
Qatar
Nigeria
United Arab Emirates
Egypt
Rest of Middle East and Africa
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Silicon Carbide (SiC) Market Research FAQs

How big is the Silicon Carbide Market?

The Silicon Carbide Market size is expected to reach USD 3.63 billion in 2025 and grow at a CAGR of greater than 10% to reach USD 5.85 billion by 2030.

What is the current Silicon Carbide Market size?

In 2025, the Silicon Carbide Market size is expected to reach USD 3.63 billion.

Who are the key players in Silicon Carbide Market?

Saint-Gobain, Imerys, Tokai Carbon Co., Ltd., Schunk Ingenieurkeramik GmbH and Morgan Advanced Materials are the major companies operating in the Silicon Carbide Market.

Which is the fastest growing region in Silicon Carbide Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Silicon Carbide Market?

In 2025, the Asia Pacific accounts for the largest market share in Silicon Carbide Market.

What years does this Silicon Carbide Market cover, and what was the market size in 2024?

In 2024, the Silicon Carbide Market size was estimated at USD 3.27 billion. The report covers the Silicon Carbide Market historical market size for years: 2024. The report also forecasts the Silicon Carbide Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Silicon Carbide Industry Report

Statistics for the 2025 Silicon Carbide market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Silicon Carbide analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.