MARKET ANALYSIS
Silicon carbide or carborundum are hard, iridescent crystals, made of carbon and silicon. Silicon carbide powder possesses several distinct properties such as low density, low thermal expansion, oxidation resistance, excellent chemical resistance, high wear and hardness resistance, high strength, high thermal shock resistance, and high temperature resistance and stability. Silicon carbide powder has wide range of applications that include abrasive blasting, anti-slip, coated abrasives, ceramics, grinding wheels, metallurgical, refractories, wiresawing, wear-resistance, lapping, filtration, insulation, and many others.
GROWTH DRIVERS AND CHALLENGES
The growing demand for silicon carbide across the electrical and electronics industry has aided the silicon carbide powder market growth in the past few years. The demand for silicon carbide powder has increased due to its broad utilization in the electronics industries for several applications such as SiC devices, Schottky diodes and FET/MOSFET transistors, comprises of converters, battery chargers, inverters, power supplies, and motor control systems. The semiconductors which are based on silicon carbide provide higher thermal conductivity, lower power losses, and higher electron mobility. Silicon carbide powder can be integrated to form rigid ceramics which are used in applications that require high endurance. Also, it can be used in manufacturing of semiconductors due to its property which can hold up to high temperatures and high voltages. Moreover, the rising demand for smart consumer electronic is creating lucrative opportunities for the silicon carbide powder market.
The challenges faced by the silicon carbide market include fluctuation of bandgap and energy gap in the high-power applications. The traditional manufacturing of silicon carbide powder might generate significant wastage from the manufacturing unit and the bandgap and energy gap of silicon carbide directly affect its performance in high power applications. This might limit the adoption of silicon carbide in high power applications.
REPORT SEGMENTATION AND SCOPE
The "Global Silicon Carbide Powder Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global silicon carbide powder market trends and growth opportunities. The report aims to provide an overview of the global silicon carbide powder market with detailed market segmentation by type, application, and geography. The global silicon carbide powder market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of silicon carbide powder worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the silicon carbide powder market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the silicon carbide powder market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative silicon carbide powder market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global silicon carbide powder market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global silicon carbide powder market is segmented on the basis of type, and application. Based on type, the silicon carbide powder market is segmented as, sintered silicon carbide, nitride bonded silicon carbide, reaction bonded silicon carbide and others. The silicon carbide powder market is categorized on the basis of application into automotive, power generation, steel manufacturing, aerospace and defence, electrical and electronics, medical and healthcare, and others.
Based on application, the electrical and electronics segment accounted for a significant market share in 2022. Silicon carbide is mostly suitable for high voltage application such as power converters, inverters, and power modules. It enables efficient power conversion, reduces energy loss, and also enables, high operating temperatures. Therefore, it is used in various electrical & electronic appliances.
REGIONAL ANALYSIS
The report provides a detailed overview of the global silicon carbide powder market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Europe has been one of the growing markets in the silicon carbide industry which is mostly driven by rising demand across automotive, renewable energy, and power electronics industries. The region focuses on clean energy and electric mobility that has contributed to the adoption of silicon carbide in electric vehicles and renewable energy systems. Countries like Germany, UK, and Sweden are the rapidly growing markets in due to the booming demand for green energy, development of sustainable energy infrastructure, and favorable government regulations.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global silicon carbide powder market.
On 14th Feb 2023, The KATEK’s Group coolcept fleX series of Steca solar inverters that feature silicon carbide semiconductors that reduce the overall weight and size of the inverters. These inverters outperform than the non-silicon carbide (non-SiC) models.
In March 2023, Wolfspeed has announced SpeedVal Kit™, a modular platform for a holistic approach to testing of silicon carbide (SiC) devices.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The covid-19 pandemic led to a decline in the progress of many industries across the globe. The pandemic led to too many disruptions in the global supply chain which affected the production and distribution of silicon carbide powder. Many manufacturing plants faced temporary shutdown which resulted in reduced production and delay in the delivery of products to customers. This resulted in short term supply chain constraints and impacted the product price. However, in 2021, as economies resumed their operations due to relaxation of government regulation, the silicon carbide powder market witnessed recovery.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the silicon carbide powder market include, Saint Gobain, Futong Industry Co Ltd, CUMI Minerals, Imerys, Zhengzhou Xinli Wear-resistant Materials Co Ltd, LKAB Minerals, Motim Electrocorundum Ltd, Henan Ruishi Renewable Resources Group Co Ltd, RusAL, Washington Mills among others.