Silicon Carbide Market Set To Total USD 10.29 Billion In 2025 Amid Expanding Industrial Applications

The silicon carbide market size is expected to reach USD 15.68 Bn by 2032, from USD 10.29 Bn in 2025, exhibiting at a CAGR of 6.2% during the forecast period. Silicon carbide is an extremely hard compound known for its superior power switching frequency and high power rating, making it highly suitable for advanced electronic applications. It is manufactured by combining petroleum coke and sand under high pressure and temperature. Due to its exceptional properties, silicon carbide is widely utilized in high-power electronics, optoelectronic devices, high-temperature components, and high-frequency power systems.

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Global Silicon Carbide Market Key Takeaways

According to Coherent Market Insights (CMI), the global silicon carbide market size is anticipated to grow significantly over the assessment period, totalling USD 10.29 Bn in 2025 and USD 15.68 Bn by 2032.

Global demand for silicon carbide is slated to rise at a CAGR of 6.2% from 2025 to 2032.

Black SiC is expected to remain the top-selling product type, accounting for nearly three-fifths of the global silicon carbide market share in 2025.

Asia Pacific, with an estimated market share of 56% in 2025, is set to dominate the global silicon carbide industry during the forecast period.

Expanding Industrial Application Boosting Silicon Carbide Market Growth

Coherent Market Insights' latest silicon carbide market analysis highlights key factors spurring industry growth. One such prominent growth driver is the increasing industrial applications of silicon carbide.

Silicon carbide (SiC) has become a widely used industrial abrasive worldwide, thanks to its hardness and other excellent properties. It is being increasingly used for grinding, sanding, and polishing materials like brass, iron, and aluminum.

Silicon carbide's high thermal properties make it ideal for furnace linings and kiln furniture. Similarly, it is gaining traction in power electronics. These expanding applications are expected to boost growth of the silicon carbide market throughout the forecast period.

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Increasing Competition from Silicon and GaN Limiting Market Growth

The global silicon carbide market outlook looks promising, owing to expanding industrial applications. However, strong competition from silicon and GaN might limit market growth to some extent during the forthcoming period.

Many industries are still using silicon due to its cost-effectiveness and other advantages. Similarly, gallium nitride (GaN) is emerging as a strong competitor in high-frequency and power electronics. Adoption of these materials may dampen silicon carbide market demand in the coming years.

Electric Vehicle Boom Opening Revenue Streams for SiC Companies

Adoption of electric vehicles is increasing rapidly throughout the world. According to the International Energy Agency (IEA), global electric car sales are expected to surpass 20 million in 2025. This will likely create a plethora of growth opportunities for silicon carbide companies.

SiC semiconductors are widely used in electric vehicle powertrains, especially in components like inverters and onboard chargers. They offer improved efficiency, faster charging, as well as longer driving range. For instance, SiC-based inverters are estimated to boost EV range by up to 10%. As electric vehicle production and sales gain pace, lucrative opportunities appear on the horizon for silicon carbide manufacturers.

Emerging Silicon Carbide Market Trends

Rapid transition towards renewable energy is expected to boost sales of silicon carbide. SiC-based devices, such as MOSFETs and diodes, are increasingly used in solar inverters and wind turbine converters due to their higher efficiency, lower switching losses, and superior thermal performance compared to traditional silicon components.

Rise of industrial automation is providing a big boost to the silicon carbide market growth. SiC semiconductors are ideal for industrial motors, robots, and power supplies because they can handle high power and switch quickly.

Expansion of telecommunication and 5G infrastructure will likely fuel demand for silicon carbide. The wide bandgap of SiC is excellent for 5G RF components where high power and efficiency as well as compactness are crucial.

Continuous product innovations are supporting expansion of the SiC market. Companies like Wolfspeed and Onsemi are creating high-performance SiC components with better efficiency. For instance, recently, Onsemi advances silicon carbide innovation with the launch of its latest generation EliteSiC M3e MOSFETs that significantly improve energy efficiency for power-hungry applications. These innovations are expanding applications across industries like electric vehicles, aerospace, and defense.

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Analyst's View

“The global silicon carbide industry is set to grow steadily, owing to expanding industrial applications, booming renewable energy sector, rising adoption of electric vehicles, and advancements in SiC technology,” said a senior analyst at CMI.

Current Events and Their Impact on the Silicon Carbide Market

Competitor Insights

Key companies in the silicon carbide market report:

- Carborundum Universal Ltd.

- AGSCO Corporation

- Entegris Inc.

- ESK-SIC GmbH

- ESD-SIC b.v.

- Gaddis Engineered Materials

- Norstel AB

- Grindwell Norton Ltd.

- Snam Abrasives Pvt. Ltd.

- Saint-Gobain Ceramics Materials GmbH

Key Developments

In January 2025, SNAM Abrasives introduced the new SNAM High Purity Silicon Carbide with up to 4N (99.99%). The new product is intended to meet the changing demands of modern industries.

In June 2024, Carborundum Universal announced plans to establish two new facilities in India. These facilities will be used to make high-purity silicon carbide as well as thin wheels.

Market Segmentation

• Product Type Insights (Revenue, USD Bn, 2020 - 2032)
  • Black SiC
  • Green SiC
  • Others
• End User Insights (Revenue, USD Bn, 2020 - 2032)
  • Steel & Energy
  • Automotive
  • Aerospace & Aviation
  • Military & Defense
  • Electronics & semiconductors
  • Medical & healthcare
  • Others
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa

About Us:

Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviors, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.

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