Asia Pacific Silicon Carbide Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Black Silicon Carbide and Green Silicon Carbide) and End-Use Industry (Automotive, Aerospace and Aviation, Military and Defense, Electronics and Semiconductor, Medical and Healthcare, Steel, and Others)
Market Introduction
Silicon carbide is also known as carborundum is a semiconductor material widely used in electronics and semiconductor industries. The different physical and chemical properties of silicon carbide ensure its use in varied application industries. The physical hardness of silicon carbide makes it fit for use as an abrasive in different processes such as honing, water jet cutting, grinding, and sand blasting. The Asia Pacific comprises several developing and developed economies such as China, India, Japan, South Korea, Australia, among others. These emerging countries are witnessing an upsurge in the middle-class population, along with growth in urbanization and industrialization, which offers ample opportunities for the key market players in the Silicon Carbide (SiC) Market. Countries like Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries in a diverse sector which chemical, construction, automotive, electronics, and other industries. The manufacturing sector in these countries has experienced a huge shift over the years. The Asia Pacific manufacturing sector is rapidly adopting innovation accelerators that include advanced technologies and processes. Over the past few years, the manufacturing spending of the region has grown significantly and is further anticipated to grow at the highest estimated growth rate.
In case of COVID-19 outbreak, countries in Asia Pacific, especially India, reported an unprecedented rise in the number of confirmed cases, which led to the discontinuation of silicon carbide manufacturing activities. Other chemical and materials manufacturing sector has negatively impacted the demand for silicon carbide during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to the discontinuation of silicon carbide components manufacturing projects, thereby reducing the demand for silicon carbide. Similar trend was witnessed in other Asia Pacific countries, such as Australia, Japan, and China. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
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Market Overview and Dynamics
The silicon carbide market in Asia Pacific is expected to grow from US$ 436.40 million in 2019 to US$ 1,118.92 million by 2027; it is estimated to grow at a CAGR of 12.6 % from 2020 to 2027. Rising demand for silicon carbide in various industrial applications has compelled manufacturers, governments, and research institutes to invest more in the expansion of their silicon carbide production capabilities and regional presence. Investment opportunities are being witnessed in both upstream and downstream sectors of the silicon carbide market. For instance, in 2018, Mersen Corporate Services SAS, a manufacturer of electrical power and advanced materials, acquired 49% of CALY Technologies with an aim to promote the development, expansion, and consolidation of the latter’s product portfolio of silicon carbide, current limiting devices, and diodes. Thus, increasing focus on growth strategies such as product innovation, expansion, partnerships, acquisitions, in both upstream and downstream markets, are offering profitable opportunities for the future growth of the silicon carbide market players.
Key Market Segments
In terms of type, the black silicon carbide segment accounted for the largest share of the Asia Pacific silicon carbide market in 2019. In terms of end-user industry, the electronics and semiconductor segment held a larger market share of the silicon carbide market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the silicon carbide market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Fiven ASA, Carborundum Universal Limited, Futong Industry Co. Limited, Electro Abrasives, LLC, and Grindwell Norton Ltd.
Reasons to buy report
- To understand the Asia Pacific silicon carbide market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific silicon carbide market.
- Efficiently plan M&A and partnership deals in Asia Pacific silicon carbide market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific silicon carbide market
- Obtain market revenue forecast for market by various segments from 2020-2027 in Asia Pacific region.
Asia Pacific Silicon Carbide Market Segmentation
Asia Pacific Silicon Carbide Market – By Type
- Black Silicon Carbide
- Green Silicon Carbide
Asia Pacific Silicon Carbide Market – By End-User Industry
- Automotive
- Aerospace and Aviation
- Military and Defense
- Electronics and Semiconductor
- Medical and Healthcare
- Steel
- Others
Asia Pacific Silicon Carbide Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Asia Pacific Silicon Carbide Market - Company Profiles
- Fiven ASA
- Carborundum Universal Limited
- Futong Industry Co. Limited
- Electro Abrasives, LLC
- Grindwell Norton Ltd.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Asia Pacific Silicon Carbide Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Expert Opinion
5. Asia Pacific Silicon Carbide Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth of the Electronics and Semiconductors Industries
5.1.2 Wide Range of Applications
5.2 Market Restraints
5.2.1 High Cost of Raw Materials
5.3 Market Opportunities
5.3.1 An Upsurge in the Focus on Investments, Product Innovations, Expansion, Partnerships, and Acquisitions
5.4 Future Trends
5.4.1 Rapid Adoption of Electric Vehicles
5.5 Impact Analysis of Drivers and Restraint
6. Silicon carbide – Asia Pacific Market Analysis
6.1 Silicon carbide Market Overview
6.2 Asia Pacific Silicon Carbide Market –Revenue and Forecast to 2027 (US$ Million)
7. Asia Pacific Silicon Carbide Market Analysis – By Type
7.1 Overview
7.2 Silicon Carbide Market, By Type (2019 and 2027)
7.3 Black Silicon Carbide
7.3.1 Overview
7.3.2 Black Silicon Carbide: Silicon carbide Market – Revenue and Forecast to 2027 (US$ Mn)
7.4 Green Silicon Carbide
7.4.1 Overview
7.4.2 Green Silicon Carbide: Silicon carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8. Asia Pacific Silicon Carbide Market Analysis – By End-Use Industry
8.1 Overview
8.2 Silicon Carbide Market, By End-use industry (2019 and 2027)
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.4 Aerospace and Aviation
8.4.1 Overview
8.4.2 Aerospace and Aviation: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.5 Military and Defense
8.5.1 Overview
8.5.2 Military and Defense: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.6 Electronics and Semiconductors
8.6.1 Overview
8.6.2 Electronics and Semiconductors: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.7 Medical and Healthcare
8.7.1 Overview
8.7.2 Medical and Healthcare: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.8 Steel
8.8.1 Overview
8.8.2 Steel: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
8.9 Others
8.9.1 Overview
8.9.2 Others: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Mn)
9. Asia Pacific Silicon Carbide (SiC) Market – Country Analysis
9.1 Overview
9.1.1 Asia Pacific: Silicon Carbide (SiC) Market, by Key Country
9.1.1.1 China: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 China: Silicon Carbide (SiC) Market, Type
9.1.1.1.2 China: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.2 Australia: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Australia: Silicon Carbide (SiC) Market, Type
9.1.1.2.2 Australia: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.3 Japan: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Japan: Silicon Carbide (SiC) Market, Type
9.1.1.3.2 Japan: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.4 India: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 India: Silicon Carbide (SiC) Market, Type
9.1.1.4.2 India: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.5 South Korea: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 South Korea: Silicon Carbide (SiC) Market, Type
9.1.1.5.2 South Korea: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.6 Rest of Asia Pacific: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of APAC: Silicon Carbide (SiC) Market, Type
9.1.1.6.2 Rest of APAC: Silicon Carbide (SiC) Market, End-Use Industry
10. Overview- Impact of COVID-19 on Asia Pacific Silicon Carbide Market
10.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 Fiven ASA
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.2 Carborundum Universal Limited
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.3 Futong Industry Co. Limited
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.4 Electro Abrasives, LLC
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.5 Grindwell Norton Ltd.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
12. Appendix
12.1 About the Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Silicon carbide Market –Revenue and Forecast to 2027 (USD Million)
Table 2. China Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 3. China Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 4. Australia Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 5. Australia Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 6. Japan Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 7. Japan Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 8. India Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 9. India Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 10. South Korea Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 11. South Korea Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 12. Rest of APAC Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 13. Rest of APAC Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. Silicon carbide Market Segmentation
Figure 2. Asia Pacific Silicon carbide Market Segmentation – By Country
Figure 3. Asia Pacific Silicon Carbide Market Overview
Figure 4. Black Silicon Carbide Segment Held Largest Share of Asia Pacific Silicon Carbide Market
Figure 5. China Held Largest Share of Asia Pacific Silicon carbide Market
Figure 6. Asia Pacific Silicon Carbide Market, Key Market Players
Figure 7. Silicon Carbide Market Impact Analysis of Drivers and Restraints
Figure 8. Asia Pacific: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Million)
Figure 9. Silicon Carbide Market Revenue Share, By Type (2019 and 2027)
Figure 10. Black Silicon Carbide: Silicon carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 11. Green Silicon Carbide: Silicon carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 12. Silicon Carbide Market Revenue Share, By End-use industry (2019 and 2027)
Figure 13. Automotive: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 14. Aerospace and Aviation: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 15. Military and Defense: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 16. Electronics and Semiconductors: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 17. Medical and Healthcare: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 18. Steel: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 19. Others: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 20. Asia Pacific: Silicon Carbide Market, by Key Country – Revenue (2019) (USD Million)
Figure 21. Asia Pacific: Silicon Carbide (SiC) Market Revenue Share, by Key Country (2019 and 2027)
Figure 22. China: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 23. Australia: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 24. Japan: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 25. India: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. South Korea: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 27. Rest of Asia Pacific: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- Fiven ASA
- Carborundum Universal Limited
- Futong Industry Co. Limited
- Electro Abrasives, LLC
- Grindwell Norton Ltd.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific silicon carbide market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific silicon carbide market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the silicon carbide market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution