Asia Pacific Silicon Carbide Market

Market Introduction

Silicon carbide is also known as carborundum is a semiconductor material widely used in electronics and semiconductor industries. The different physical and chemical properties of silicon carbide ensure its use in varied application industries. The physical hardness of silicon carbide makes it fit for use as an abrasive in different processes such as honing, water jet cutting, grinding, and sand blasting. The Asia Pacific comprises several developing and developed economies such as China, India, Japan, South Korea, Australia, among others. These emerging countries are witnessing an upsurge in the middle-class population, along with growth in urbanization and industrialization, which offers ample opportunities for the key market players in the Silicon Carbide (SiC) Market. Countries like Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries in a diverse sector which chemical, construction, automotive, electronics, and other industries. The manufacturing sector in these countries has experienced a huge shift over the years. The Asia Pacific manufacturing sector is rapidly adopting innovation accelerators that include advanced technologies and processes. Over the past few years, the manufacturing spending of the region has grown significantly and is further anticipated to grow at the highest estimated growth rate.

In case of COVID-19 outbreak, countries in Asia Pacific, especially India, reported an unprecedented rise in the number of confirmed cases, which led to the discontinuation of silicon carbide manufacturing activities. Other chemical and materials manufacturing sector has negatively impacted the demand for silicon carbide during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to the discontinuation of silicon carbide components manufacturing projects, thereby reducing the demand for silicon carbide. Similar trend was witnessed in other Asia Pacific countries, such as Australia, Japan, and China. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

Asia Pacific Silicon Carbide Strategic Insights

Strategic insights for the Asia Pacific Silicon Carbide provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Silicon Carbide Report Scope

Asia Pacific Silicon Carbide Regional Insights

The geographic scope of the Asia Pacific Silicon Carbide refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The silicon carbide market in Asia Pacific is expected to grow from US$ 436.40 million in 2019 to US$ 1,118.92 million by 2027; it is estimated to grow at a CAGR of 12.6 % from 2020 to 2027. Rising demand for silicon carbide in various industrial applications has compelled manufacturers, governments, and research institutes to invest more in the expansion of their silicon carbide production capabilities and regional presence. Investment opportunities are being witnessed in both upstream and downstream sectors of the silicon carbide market. For instance, in 2018, Mersen Corporate Services SAS, a manufacturer of electrical power and advanced materials, acquired 49% of CALY Technologies with an aim to promote the development, expansion, and consolidation of the latter’s product portfolio of silicon carbide, current limiting devices, and diodes. Thus, increasing focus on growth strategies such as product innovation, expansion, partnerships, acquisitions, in both upstream and downstream markets, are offering profitable opportunities for the future growth of the silicon carbide market players.  

Key Market Segments

In terms of type, the black silicon carbide segment accounted for the largest share of the Asia Pacific silicon carbide market in 2019. In terms of end-user industry, the electronics and semiconductor segment held a larger market share of the silicon carbide market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the silicon carbide market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Fiven ASA, Carborundum Universal Limited, Futong Industry Co. Limited, Electro Abrasives, LLC, and Grindwell Norton Ltd.

Reasons to buy report

• To understand the Asia Pacific silicon carbide market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific silicon carbide market.
• Efficiently plan M&A and partnership deals in Asia Pacific silicon carbide market by identifying market segments with the most promising probable sales.
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific silicon carbide market
• Obtain market revenue forecast for market by various segments from 2020-2027 in Asia Pacific region.

Asia Pacific Silicon Carbide Market Segmentation

Asia Pacific Silicon Carbide Market – By Type

• Black Silicon Carbide
• Green Silicon Carbide

Asia Pacific Silicon Carbide Market – By

End-User Industry

• Automotive
• Aerospace and Aviation
• Military and Defense
• Electronics and Semiconductor
• Medical and Healthcare
• Steel
• Others

Asia Pacific Silicon Carbide Market - By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Asia Pacific Silicon Carbide Market - Company Profiles

1. Fiven ASA
2. Carborundum Universal Limited
3. Futong Industry Co. Limited
4. Electro Abrasives, LLC
5. Grindwell Norton Ltd.