Green Silicon Carbide Market : Asia Pacific Gathers Impetus from Surging Adoption of Electric Vehicles In Automotive
Latest industry survey by Fact MR, predicts Black Silicon Carbide sales to swell at propelled CAGR through 2031, as chemical and materials sales gradually recover post disruptions caused by COVID-19. The report is aimed at furnishing insights into hidden growth opportunities and challenges. It also provides recommendations to aid businesses prep for unforeseen challenges.
The report offers actionable and valuable market insights of Black Silicon Carbide. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Black Silicon Carbide Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Black Silicon Carbide market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Black Silicon Carbide
This newly published and insightful report sheds light on Market Insights of Black Silicon Carbide, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Black Silicon Carbide Market.
Global silicon carbide market is poised to witness a dexterous 15% growth during the forecast period (2019 – 2029). Silicon carbide (SiC) products possess advantageous properties such as high thermal conductivity which propels market demand through 2029. Surging demand for compact systems, motor drives, and radio frequency devices further the revenue scope for manufacturers.
Government support on FDI investments in developing markets is garnering significant attention from prominent SiC manufacturers. Market players are targeting developing markets such as China where a booming ecosystem of EV manufacturers cater to a skyrocketing consumer demand. Black silicon carbide is expected to bolster demand on the back of sharp cutting properties that make it an ideal choice in finishing cast iron, non-ferrous metals, stone, and rubber.
Key Takeaways of Silicon Carbide (SiC) Market Study
- Black Silicon Carbide will gain over 4X growth during the forecast period. Budding electric automotive industry and increasing consumption from steel and construction end-uses will invigorate demand.
- Electrical & electronics segment will grow 3.6X through the projection period. Low coefficient of thermal expansion and high resistance to thermal shock make SiC an ideal raw material for electrical & electronics manufacturers.
- APAC (East Asia and Southeast Asia & Oceania) account for more than 50% share of total market value with a prolific growth rate of 16% through 2029. Developing markets such as China, India, and Indonesia are propagating energy efficient automotive manufacturing, further increasing the demand for silicon carbide to be used in EV batteries.
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“Silicon carbide is a semiconductor compound that has numerous application in various end-use industries. Market players can ensure future growth and current revenues by divesting from traditional manufacturing methods and leveraging technological advancements. Research and development of innovative applications in current and new industry verticals will play a significant role in ensuring growth during the forecast.”-Says Fact MR Analyst
Stringent Sustainable Norms to Act as Growth Levers
Emerging electric vehicles market will propel the demand for silicon carbide. Green silicon carbide will witness increasing demand due to superior properties such as high purity, and friability. Power electronics are increasingly employing silicon carbide in manufacturing motor devices, and cellular base stations. Penetration of electric alternatives over conventional combustion engine alternatives produce remunerative growth opportunities.
Incentive policies in developing countries act as a catalyst for high growth opportunities for innovators. For instance, EV manufacturers can avail incentive policies only when their product offers a commuting range of more than 150 km with an energy density of 105 watt-hours per kg. Hence market players must invest in research and development of energy efficient products to attract gainful growth opportunities.
Global Silicon Carbide Market: In-Depth Assessment on Key Segments
The global silicon carbide market is segmented on the basis of product, application and region.
|Product||Black Silicon CarbideGreen Silicon Carbide|
|Application||SteelAutomotiveAerospaceMilitary & DefenseElectrical & ElectronicsHealthcareOthers|
|Region||North AmericaLatin AmericaEuropeEast AsiaSouth Asia & OceaniaMiddle East & Africa|
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Report Benefits & Key Questions Answered
- Black Silicon Carbide Company & brand share analysis: The report offers brand-share analysis on Black Silicon Carbide market to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
- Black Silicon Carbide Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers comparative analysis between growth trajectory exhibited in 2016-2020 and 2021-2031.
- Black Silicon Carbide Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
- Black Silicon Carbide Consumption by demographics: The demographic analysis is intended at providing recommendations to companies to help them create growth strategies around dynamic consumption patterns.
- Black Silicon Carbide Manufacturing trend analysis: Manufacturing trend analysis is the key highlight of the study. It offers vital data on strategies adopted by market players to align their manufacturing strategies as per prevailing market trends.
- Post COVID consumer spending on Black Silicon Carbide: The survey offers a chapter dedicated to analyzing post COVID consumer behavior. Changes in their spending pattern are carefully analyzed to offer insights into potential impact on Black Silicon Carbide sales.
More Valuable Insights on Black Silicon Carbide Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Black Silicon Carbide, Sales and Demand of Black Silicon Carbide, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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