The silicon carbide market is expected to reach $4.49 billion in five years

According to the latest survey, the global silicon carbide market is expected to reach $4.49 billion by 2020. Although the current steel situation is depressed, but the prospects are still optimistic, silicon carbide as a deoxidizer for steel production, the demand for silicon carbide will increase. At the same time, the recovery and development of semiconductor manufacturing and the automotive industry is bound to increase the demand for silicon carbide.

In 2013, the total demand for silicon carbide in the steel and energy industries was as high as 302,000 tons. Growing demand for steel and energy in the emerging markets of India and China is set to drive demand for silicon carbide. At the same time, silicon carbide with its high-quality characteristics is also widely used in the electronics industry and semiconductor industry. In 2013, the demand for silicon carbide in the electronics and semiconductor industries exceeded 255,000 tons.

According to the survey, the global market demand for silicon carbide reached 1,060,100 tons in 2013, and it is expected that by 2020 this figure will reach 2,769 million tons, with a compound annual growth rate of about 15.2%. Compared with other types of silicon carbide, black silicon carbide has a wider range of applications, and the market demand for black carbon silicon in 2013 was 745,600 tons.

Asia Pacific is the largest regional market for silicon carbide, with total revenue of more than $870 million in 2013. It is expected that the demand for silicon carbide in the steel, automotive and other industries in the region will continue to grow, with a compound annual growth rate of about 16.8%.

At present, the rapid development of the medical and healthcare industry in India, China and Japan, the demand for silicon carbide is increasing, and the compound annual growth rate of silicon carbide in the medical industry is expected to reach 16.5%.