Global Silicon Carbide (SiC) Ceramics Market Segmentation by Type (Direct Sintered, Reaction Bonded, CVD, and Others); by Application (Ceramic Armor Protection Systems, Wear Resistant Nozzles, High Temperature Bearings, and Others); by End Users (Machinery Manufacturing, Metallurgical Industry, Chemical Engineering, Aerospace & Defense, and Others)-Demand Analysis & Opportunity Outlook 2031

Global Silicon Carbide (SiC) Ceramics Market Highlights Over 2022-2031

The global silicon carbide ceramics market generated a revenue of about USD 950 million in the year 2021 and is estimated to grow at a CAGR of ~20% over the forecast period, i.e., 2022-2031. The growth of the market can be attributed to the increasing demand for lightweight fibers for use in industries such as aerospace & defense, chemical engineering, and others. As a result of the favorable properties of SiC, in the year 2020, nearly 8 million metric tons of silicon were produced worldwide.

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The desirability for SiC ceramics among the end-users comes from its composition which makes it the hardest and strongest material, as well as a low-density compound. These ceramics are produced at extremely high temperatures which is why such properties of the compound can be attained. Industries, such as aerospace, automotive, chemical, and energy among others, recognize some of the most desirable properties, such as low thermal expansion, high strength, and chemical inertness, for the production of their end products. SiC ceramics can also survive temperatures as high as 1650°C and are resilient to the oxidization effects that occur at high temperatures with other materials. Such beneficial properties of silicon carbide are therefore anticipated to drive the demand for the product, and in turn, contribute to the market growth.

Even with the rising demand for silicon carbide (SiC) ceramics, the market suffered badly due to the covid-19 pandemic in the year 2020. One of the major factors that largely affected the demand for the product was the drop in the sales of the end-use products of every other industry, including industries, such as automotive, aerospace & defense, and electronics industry among others, that use SiC ceramics for the manufacturing of their products. Besides this, the disruption in the global supply chain, owing to the stringent measures taken by the government of nations to curb the spread of the virus, also largely affected the market growth in that year.

The global silicon carbide ceramics market is segmented by type, application, and by end-users. Based on type, the market is divided into CVD silicon carbide, recrystallized, hot pressing, reaction bonded, direct sintered silicon carbide, and others. Amongst these segments, the direct sintered silicon carbide segment is expected to hold a gigantic share in the market by the end of 2031 and further grow with a notable CAGR during the forecast period. The growth can be identified as a result of properties such as extreme resistance toward chemical corrosion and excellent thermal conductivity of direct sintered silicon carbide.

Global Silicon Carbide Ceramics Market Regional Synopsis

Regionally, the global silicon carbide ceramics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region witnessed significant growth in the year 2020 and is estimated to grow at a moderate CAGR over the forecast period. The notable rise in the growth of the market in the Asia Pacific region can be attributed to the presence of numerous manufacturing units associated with the manufacturing of SiC ceramics such as glass and glassware, aerospace and defense, and machinery manufacturing among others that are operating in this region. As sourced from International Trade Center, China is the largest exporter of glass and glassware in the world. The export accounted to USD 15,609,987 thousand in the year 2016 to USD 18,344,638 thousand in the year 2020.

Market Segmentation

Our in-depth analysis of the global silicon carbide ceramics market includes the following segments:

By Type

• Direct Sintered Silicon Carbide

• Reaction Bonded Silicon Carbide

• CVD Silicon Carbide

• Hot Pressing Silicon Carbide

• Recrystallized Silicon Carbide

• Others

By Application

• Ceramic Armor Protection Systems

• Wear Resistant Nozzles

• High-Temperature Bearings

• Electric Furnace Heating Elements

• Thermocouple Protection Tubes

• Others

By End Users

• Machinery Manufacturing

•  Metallurgical Industry

•  Chemical Engineering

•  Aerospace & Defense

•  Others

Growth Drivers and Challenges Impacting the Growth of the Global Silicon Carbide Ceramics Market

Growth Drivers

• Increasing demand for SiC ceramics among the end-user industries

• Numerous beneficial properties of SiC ceramics

Challenges

• High cost of raw material

Key Companies Dominating the Global Silicon Carbide Ceramics Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global silicon carbide ceramics market that are included in our report are Saint-Gobain Ceramics, ASUZAC Co. Ltd., Schunk Ingenieurkeramik GmbH, IPS Ceramics, Ortech Advanced Ceramics, 3M, ESD-SIC bv, Carborundum Universal Limited, Zhok Material Technical Co.,Ltd., CoorsTek Inc., and others.

Latest Developments in the Global Silicon Carbide Ceramics Market:

• 26 April 2021: CoorsTek announced an additional expansion of its manufacturing operation in Benton, Arkansas. This newly built facility is aimed to serve the aerospace and defense markets.

• 10 August 2021: ESD-SIC announced new payloaders transitioning from WA-600 to WA-500 in order to stay environment friendly and reduce emissions. The new machine is more fuel efficient and comfortable.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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