Carborundum Market: Global Industry Analysis and Forecast (2023-2029)

Carborundum Market size was valued at US$ 3.71 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 16% through 2022 to 2029, reaching nearly US$ 10.49 Bn.
Carborundum Market Overview:
Carborundum, often called silicon carbide (SiC), is a crystalline silicon-carbon combination. It has outstanding features like high thermal conductivity, low thermal growth, and rigidity, making it appropriate for a variety of applications. Abrasives, refractories, and ceramics are all using SiC more and more. Steel & energy, electronics & semiconductors, automotive, aircraft & military, medical & healthcare, and fabrication are just a few of the uses for the product. Black SiC, green SiC, metallurgical SiC, coated SiC, micro grit SiC, and refractory SiC are some of the Carborundum forms used in various applications.To know about the Research Methodology :- Request Free Sample Report
Carborundum Market Dynamics:
The growing electrical and electronics industry is the major driver of the Carborundum market's growth. Its outstanding features such as chemical inertness, thermal shock resistance, abrasion resistance, and sinterability have led to its increased usage in a variety of electronics applications. Because of its high density, outstanding oxidation resistance, chemical inertness, high strength, and high thermal shock resistance, the product is becoming more popular in the automobile industry.

Carborundum is utilised in a variety of applications in the automotive industry, including bearings and wear parts, brake pads, abrasives, and diesel particulate filters, to name a few. Product demand is being driven by a thriving automobile industry in developing countries. Furthermore, rising demand for electric vehicles as a result of lower carbon emissions is expected to boost market growth at a rapid pace during the forecast period. Meanwhile, the growth of the global carborundum market is expected to be driven by growing applications in aerospace & defense, foundry, steel, and foundry industries, among others.
Carborundum Market Segment Analysis:
The Carborundum Market is segmented by Type, and Application.

Based on the Type, the market is segmented into Black SiC, Green SiC, and Others (coated, metallurgical briquettes, micro grit etc.). Green SiC segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. The crystalline form of Green Silicon Carbide has a high purity and toughness. Green silicon carbide is ideal for abrasive applications that need the removal of hard material because to its sharp-edged characteristics.

Green SiC has a high cutting capacity, a wide range of applications from ultra-hard metals to soft metals and edged tools, and exceptional lapping and polishing characteristics with minimal chemical side effects.

Based on the Application, the market is segmented into Electronics & semiconductors, Steel & energy, Aerospace & aviation, Automotives, Military & Defense, and Others (Medical and healthcare, Military & defense, IT and Telecommunication). Electronics & semiconductors segment is expected to hold the largest market shares of xx% by 2029. Carborundum is a silicon and carbon-based semiconductor. Carborundum grains can be moulded together to make extremely hard ceramics that are utilised in applications that require long-term durability. Because of its features, such as the ability to work at high temperatures or high voltages, or both, and a small form factor, carborundum is commonly employed in semiconductor fabrication.

Due to sustained demand from data centres and consumer electronics production, the decreasing semiconductor sector showed positive growth in 2022, as employees from several sectors favoured work-from-home choices throughout the year. According to the Semiconductor Sector Association (SIA), worldwide semiconductor industry revenues was reached at USD 439.0 billion in 2022, up 6.5 percent from USD 412.3 billion in 2022. Furthermore, global sales for December 2022 totalled USD 39.2 billion, an increase of 8.3 percent over December 2022 and 2.0 percent less than November 2022 total.
Carborundum Market Regional Insights:
Asia Pacific region is expected to dominate the Carborundum market during the forecast period 2023-2029. Asia Pacific region is expected to hold the largest market shares of xx% by 2029. The need for silicon carbide has been rising across Asia, particularly in China, India, and Japan, as the region's desire for advanced and upgraded technology across many sectors, such as electronics, automotive, and defence, has grown. The region dominates the semiconductor sector, which is boosted by government initiatives, implying that demand for silicon carbide will continue to rise.

China is a big semiconductor consumer and is attempting to increase semiconductor output. Beijing, China's capital, emphasised semiconductors as a crucial sector of the Made in China 2029 strategy, a government programme aimed at increasing the manufacturing of higher-value goods. By 2029, China wants to generate 70% of the semiconductors it uses.

As silicon carbide is utilised as a deoxidizing agent in the steel sector and is a major raw material in refractory manufacturing, the market for silicon carbide is expected to develop in countries like India and China. In electric vehicles, the need for silicon carbide power modules, such as inverters and MOSFETs, is growing, as power inverters play a key role in effective energy management. The use of MOSFETs can reduce energy losses and improve the performance of electric vehicles.

The objective of the report is to present a comprehensive analysis of the Global Carborundum Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Carborundum Market dynamic, structure by analyzing the market segments and project the Global Carborundum Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Carborundum Market make the report investor’s guide.
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Carborundum Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 3.71 Bn.


Forecast Period 2023 to 2029 CAGR:
16 %
Market Size in 2029:
US $ 10.49 Bn.


 Segments Covered:
by Application
Electronics & semiconductors
Steel & energy
Aerospace & aviation
Automotives
Military & Defense
Others


by Type
Black SiC
Green SiC
Others



Carborundum Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Carborundum Market Key Players
1. Gaddis Engineered Materials
2. ESK-SIC GmbH
3. ESD-SIC
4. AGSCO Corporation
5. Xiamen Powerway Advanced Material Company Limited
6. The Dow Chemical Company
7. Timcal Ltd
8. Grindwell Norton Ltd
9. Saint-Gobain Ceramics Materials GmbH
10.Entegris Inc.
11.Snam Abrasives Pvt Ltd
12.Norstel AB
13.Carborundum Universal Ltd
14.Imerys Graphite and Carbon
15.Dayton Superior
16.Pacific Rundum
17.Navarro SIC
18.Yakushima Denko
19.KYOCERA Corporation
20.Gansu Yongdeng Hengtong Carborundum Co., ltd.
21.Tianzhu ZHENGYU Carborundum Co., ltd.

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Carborundum Market?
Ans. Asia Pacific is expected to hold the highest share in the Carborundum Market.

2] Who are the top key players in the Carborundum Market?
Ans. ESK-SIC GmbH, ESD-SIC, AGSCO Corporation, Grindwell Norton Ltd, Saint-Gobain Ceramics Materials GmbH, and Entegris Inc. are the top key players in the Carborundum Market.

3] Which segment holds the largest market share in the Carborundum market by 2029?
Ans. Electronics & semiconductors segment hold the largest market share in the Carborundum market by 2029.

4] What is the market size of the Carborundum market by 2029?
Ans. The market size of the Carborundum market is expected to reach US $ 10.49 Bn. by 2029.

5] What was the market size of the Carborundum market in 2021?
Ans. The market size of the Carborundum market was worth US $ 3.71 Bn. in 2022.