May 09, 2024 19:00 ET | Source: The Brainy Insights The Brainy Insights
Newark, May 09, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3.69 billion in 2023 global silicon carbide market will reach USD 11.28 billion by 2033. The modernization of power grids and the transition towards smart grid technologies present opportunities for SiC-based power electronics. SiC devices enable higher efficiency, better power quality, and improved grid stability in smart grid applications such as grid-tied inverters, voltage regulators, and energy storage systems. Opportunities exist for SiC manufacturers to collaborate with utilities and grid operators to enhance grid reliability and efficiency. Furthermore, SiC's ability to withstand high temperatures and harsh operating conditions makes it suitable for various aerospace, defence, oil and gas, and industrial applications. siliconized silicon carbide
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Opportunities exist for SiC manufacturers to develop customized solutions for high-temperature electronics, sensors, and power modules used in demanding environments such as aircraft engines, downhole drilling, and industrial furnaces. Additionally, the demand for efficient and reliable motor drive systems in industrial automation, robotics, and electric propulsion systems drives the adoption of SiC-based power modules. SiC power modules offer advantages such as higher power density, faster switching speeds, and lower losses, enabling compact and energy-efficient motor drive solutions. Opportunities exist for SiC manufacturers to collaborate with industrial automation companies to develop integrated SiC power modules tailored for specific applications. Moreover, integrating SiC technology with AI and machine learning algorithms offers opportunities for optimizing power management, predictive maintenance, and energy efficiency in various applications. SiC-based power electronics can enable smarter and more energy-efficient systems in smart grids, industrial automation, and consumer electronics. Opportunities exist for SiC manufacturers to collaborate with AI companies and system integrators to develop intelligent SiC-based solutions.
Key Insight of the global Silicon Carbide market
Asia Pacific is expected to witness the highest market growth over the forecast period.
The Asia Pacific region is a prominent hub for the automotive market, with economies like Japan, China, South Korea, and India leading in vehicle production and sales. The transition towards electric and hybrid vehicles to reduce emissions and comply with stringent regulations drives the demand for SiC-based power electronics in automotive applications such as electric powertrains, on-board chargers, and DC-DC converters. In addition, Asia Pacific is home to some of the world's largest consumer electronics markets, including China, Japan, and South Korea. The increasing demand for smartphones, laptops, televisions, and other electronic devices drives the adoption of SiC-based components such as power management ICs, RF devices, and LEDs in consumer electronics applications. Moreover, governments in Asia Pacific countries are implementing various initiatives and policies to promote developing and adopting advanced semiconductor technologies, including SiC. Incentives, subsidies, and favourable regulatory frameworks aimed at supporting domestic semiconductor industries, fostering innovation, and attracting foreign investments are expected to drive market growth in the region.
In 2023, the black silicon carbide segment dominated the market with the largest share of 56.19% and revenue of 2.07 billion.
The product segment is divided into black silicon carbide and green silicon carbide. In 2023, the black silicon carbide segment dominated the market with the largest share of 56.19% and revenue of 2.07 billion.
In 2023, the SiC discrete segment dominated the market with the largest share of 45.83% and revenue of 1.69 billion.
The device segment is classified into SiC discrete, SiC bare die and SiC module. In 2023, the SiC discrete segment dominated the market with the largest share of 45.83% and revenue of 1.69 billion.
In 2023, the electrical & electronics segment dominated the market with the largest share of 27.61% and revenue of 1.01 billion.
The application segment is split into automotive, aerospace, electrical & electronics, healthcare, military & defense, steel and others. In 2023, the electrical & electronics segment dominated the market with the largest share of 27.61% and revenue of 1.01 billion.
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In February 2024: ESK-SIC GmbH, a prominent player in SiC, and Kyocera, a renowned global technology firm known for its expertise in technical ceramics and semiconductor technologies, have made a strategic alliance. Their collaborative effort is geared towards enhancing efficiency and sustainability across the complete silicon carbide value chain. This factor entails exploring novel manufacturing technologies, refining production processes, exploring innovative applications, and implementing circular economy principles for recycling SiC materials.
In March 2022: Microchip Technology Inc. has introduced an expansion to its silicon carbide business by unveiling the industry's most competitive on-resistance [RDS(on)] 3.3 kV silicon carbide (SiC) MOSFETs and the highest current-rated silicon carbide (SiC) SBDs currently accessible in the market. These advancements empower designers to harness ruggedness, reliability, and performance to their advantage. With Microchip's widened SiC portfolio, designers gain access to the necessary resources for crafting more compact, lightweight, and efficient solutions tailored for renewable energy, aerospace, electrified transportation, and industrial applications.
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Driver: Investments in R&D and manufacturing facilities.
Many prominent companies and institutions actively invest in research and development endeavours to refine Silicon Carbide (SiC) manufacturing techniques, augment material characteristics, and explore novel applications. This concerted effort reflects a growing recognition of SiC's potential across various industries and the desire to leverage its unique properties for advanced technologies. In manufacturing processes, these entities are dedicating resources to streamline production methods, optimize efficiency, and reduce costs associated with SiC fabrication. This aspect includes exploring innovative techniques such as advanced crystal growth methods, precision machining, and novel synthesis approaches to enhance the quality and scalability of SiC materials. Simultaneously, significant emphasis is being placed on improving the material properties of SiC to meet the evolving demands of diverse applications. This aspect entails research into enhancing SiC's mechanical strength, thermal conductivity, electrical properties, and resistance to harsh environmental conditions. By tailoring the material's characteristics, researchers aim to unlock its full potential for applications ranging from power electronics to aerospace components. Furthermore, establishing new manufacturing facilities and strategic partnerships underscores the industry's commitment to scaling production capacity to meet growing market demands. These initiatives aim to bolster supply chains, increase production volumes, and drive down costs, thereby making SiC-based technologies more accessible and economically viable across various sectors.
Restraint: Lack of standardization and design tools.
One of the primary issues engineers encounter is the need for more readily available design tools optimized for SiC devices. Unlike silicon, which has a well-established design software and simulation platform ecosystem, SiC technology demands specialized tools capable of accurately capturing its unique characteristics and performance metrics. Without such tools, engineers must resort to makeshift solutions or adapt existing software, often leading to suboptimal results and inefficiencies in the design process. Similarly, the absence of modelling software tailored for SiC devices poses significant challenges. Modelling predicts device behaviour, performance, and reliability under different operating conditions. However, existing modelling approaches developed primarily for silicon may not accurately represent the intricacies of SiC materials and structures. As a result, engineers must invest additional time and effort in refining models or developing new methodologies, further elongating the design cycle. Simulation platforms also present obstacles in designing and developing SiC-based circuits and systems. While simulation is essential for assessing device performance, verifying designs, and predicting system behaviour, the need for dedicated simulation tools optimized for SiC can hinder accurate predictions and analysis. Engineers may face compatibility issues, limited modelling capabilities, or insufficient support for SiC-specific phenomena, leading to discrepancies between simulation results and real-world performance. Consequently, engineers grappling with these challenges experience prolonged development cycles and increased design costs compared to silicon-based counterparts. The need for specialized expertise, extensive validation efforts, and iterative design iterations further exacerbates these challenges, imposing additional time and resource burdens on development teams.
Opportunity: Advancements in industrial automation and robotics.
One of the key advantages of SiC-based power electronics in automation systems is their superior efficiency. SiC devices exhibit lower on-state resistance and switching losses than silicon devices, resulting in reduced power dissipation and higher energy efficiency. This efficiency improvement translates into lower energy consumption for automated processes, contributing to significant cost savings over time and reducing the environmental impact of industrial operations. SiC's high power density and thermal conductivity also enable the design of more compact and lightweight electronic systems. This compactness is particularly advantageous in space-constrained industrial environments where minimizing footprint is essential. By leveraging SiC technology, manufacturers can achieve higher power densities and optimize the layout of automation equipment, leading to more efficient use of floor space and streamlined production workflows. Furthermore, the enhanced reliability of SiC devices makes them well-suited for demanding industrial applications. SiC's inherent robustness against high temperatures, voltage spikes, and harsh operating conditions ensures stable and consistent performance in automation systems. This reliability is critical for maintaining uninterrupted operation and minimizing downtime, increasing overall equipment effectiveness (OEE) and maximizing productivity. As industries continue to embrace automation and robotics technologies to improve efficiency and competitiveness, the demand for high-performance power electronics solutions will continue to grow. SiC-based devices are poised to play a crucial role in meeting this demand by enabling the development of advanced automation systems that deliver superior performance, reliability, and cost-effectiveness.
Challenge: Global supply chain vulnerabilities.
One of the primary challenges facing the SiC industry is the reliance on a complex global supply chain network for sourcing raw materials such as silicon, carbon, and other additives necessary for SiC production. Supply chain disturbances, whether due to geopolitical conflicts, natural catastrophes, or transportation bottlenecks, can disrupt the flow of these critical inputs, leading to shortages and price fluctuations. Furthermore, geopolitical tensions and trade policies also threaten the SiC market. Restrictions on the export or import of key materials, tariffs, and trade disputes between major producing and consuming countries can disrupt supply chains and increase costs for manufacturers. Moreover, political instability in regions that are major producers or consumers of SiC materials can further exacerbate supply chain vulnerabilities.
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Some of the major players operating in the global Silicon Carbide market are:
• AGSCO Corporation • Blasch Percision Ceramics Inc. • Carborundum Universal Limited • Coorstek • Christy Refractories • Entegris, Inc. • ESD-SIC b.v. • ESK-SIC GmbH • Fuji Electric Co., Ltd. • General Electric Company • Gaddis Engineered Materials • Grindwell Norton Ltd. • GeneSiC Semiconductor, Inc. • Infineon Technologies AG • Imerys • Keith Company • Microsemi • Microchip Technology Inc. • Morgan Technical Ceramics • Navarro SiC • Onsemi • Renesas Electronics Corporation • ROHM Co., Ltd. • SNAM Abrasives Pvt. Ltd. • SK Siltron Co., Ltd. • STMelectronics • Saint Gobain • Toshiba Corporation • Washington Mills • Wolfspeed, Inc.
Key Segments cover in the market:
• Black Silicon Carbide • Green Silicon Carbide
• SiC Discrete • SiC Bare Die • SiC Module
• Automotive • Aerospace • Electrical & Electronics • Healthcare • Military & Defense • Steel • Others
• North America (U.S., Canada, Mexico) • Europe (Germany, France, the UK, Italy, Spain, Rest of Europe) • Asia-Pacific (China, Japan, India, Rest of APAC) • South America (Brazil and the Rest of South America) • The Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analyzed based on value (USD Billion) and volume (Tons). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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