North America Silicon Carbide Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Black Silicon Carbide and Green Silicon Carbide), End-Use Industry (Automotive, Aerospace and Aviation, Military and Defense, Electronics and Semiconductor, Medical and Healthcare, Steel, and Others), and Country
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. Silicon carbide is also used in oilfield applications such as components of pumps used to drill and extract the oil. Silicon carbide is utilized as an abrasive, as well as a semiconductor & diamond simulant of gem quality. The simplest process to produce silicon carbide is to combine silica sand with carbon in an Acheson graphite electric resistance furnace at a high temperature, between 1,600 °C (2,910 °F) and 2,500 °C (4,530 °F). Grains of silicon carbide can be bound together by sintering to create very hard ceramics that are widely employed in applications requiring high endurance, including car clutches, car brakes, and ceramic plates in bulletproof vests. SiC is employed in semiconductor electronics devices that operate at high temperatures or high voltages, or both. Also, there is a growing demand for SiC devices in the power electronics industry and smaller devices that are facilitated due to the utilization of SiC-based devices. Due to the wider application of silicon carbide in various end-use industries, this market is booming in North America.
In case of COVID-19 outbreak, countries in North America, especially the US, 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 North American countries, such as Canada, Mexico, and Costa Rica. 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 North America is expected to grow from US$ 123.38 million in 2019 to US$ 336.76 million by 2027; it is estimated to grow at a CAGR of 13.5 % 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 North America 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 North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Agsco Corp., Carborundum Universal Limited, Futong Industry Co. Limited, Electro Abrasives, LLC, Washington Mills, Tifor B.V., and Grindwell Norton Ltd.
Reasons to buy report
- To understand the North America 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 North America silicon carbide market.
- Efficiently plan M&A and partnership deals in North America 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 North America silicon carbide market
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.
North America Silicon Carbide Market Segmentation
North America Silicon Carbide Market – By Type
- Black Silicon Carbide
- Green Silicon Carbide
North America Silicon Carbide Market – By End-User Industry
- Automotive
- Aerospace and Aviation
- Military and Defense
- Electronics and Semiconductor
- Medical and Healthcare
- Steel
- Others
North America Silicon Carbide Market - By Country
- US
- Canada
- Mexico
North America Silicon Carbide Market - Company Profiles
- Agsco Corp
- Carborundum Universal Limited
- Futong Industry Co. Limited
- Electro Abrasives, LLC
- Washington Mills
- 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. North America Silicon Carbide Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Expert Opinion
5. North America Silicon Carbide Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Expansion of Electronics and Semiconductors Industries
5.1.2 Diversified Range of Applications
5.2 Market Restraints
5.2.1 High Material Cost associated with Silicon Carbide
5.3 Market Opportunities
5.3.1 Rise in the Focus on Investments, Product Innovations, Expansion, Partnerships, and Acquisitions
5.4 Future Trends
5.4.1 Incrementing Adoption of Electric Vehicles
5.5 Impact Analysis of Drivers and Restraint
6. Silicon carbide – North America Market Analysis
6.1 Silicon carbide Market Overview
7. North America 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. North America 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. Silicon Carbide (SiC) Market – Country Analysis
9.1 Overview
9.1.1 North America: Silicon Carbide (SiC) Market, by Key Country
9.1.1.1 US: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: Silicon Carbide (SiC) Market, Type
9.1.1.1.2 US: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.2 Canada: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: Silicon Carbide (SiC) Market, Type
9.1.1.2.2 Canada: Silicon Carbide (SiC) Market, End-Use Industry
9.1.1.3 Mexico: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: Silicon Carbide (SiC) Market, Type
9.1.1.3.2 Mexico: Silicon Carbide (SiC) Market, End-Use Industry
10. Overview- Impact of COVID-19 on North America Silicon Carbide Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 AGSCO Corp
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 Washington Mills
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
11.6 Grindwell Norton Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
12. Appendix
12.1 About the Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. North America Silicon carbide Market –Revenue and Forecast to 2027 (USD Million)
Table 2. US Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 3. US Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 4. Canada Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 5. Canada Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 6. Mexico Silicon Carbide (SiC) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 7. Mexico Silicon Carbide (SiC) Market, by End-Use Industry – Revenue and Forecast to 2027 (USD Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. Silicon carbide Market Segmentation
Figure 2. North America Silicon carbide Market Segmentation – By Country
Figure 3. North America Silicon Carbide Market Overview
Figure 4. Black Silicon Carbide Segment Held Largest Share of North America Silicon Carbide Market
Figure 5. US Held Largest Share of North America Silicon carbide Market
Figure 6. North America Silicon Carbide Market, Key Market Players
Figure 7. Silicon Carbide Market Impact Analysis of Drivers and Restraints
Figure 8. North America Silicon Carbide Market –Revenue and Forecast to 2027 (US$ Million)
Figure 9. North America: Silicon Carbide Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. Silicon Carbide Market Revenue Share, By Type (2019 and 2027)
Figure 11. Black Silicon Carbide: Silicon carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 12. Green Silicon Carbide: Silicon carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 13. Silicon Carbide Market Revenue Share, By End-use industry (2019 and 2027)
Figure 14. Automotive: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 15. Aerospace and Aviation: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 16. Military and Defense: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 17. Electronics and Semiconductors: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 18. Medical and Healthcare: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 19. Steel: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 20. Others: Silicon Carbide Market – Revenue and Forecast To 2027 (US$ Mn)
Figure 21. North America: Silicon Carbide Market, by Key Country – Revenue (2019) (USD Million)
Figure 22. North America: Silicon Carbide (SiC) Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. US: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 24. Canada: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 25. Mexico: Silicon Carbide (SiC) Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in North American Country Markets
- Agsco Corp
- Carborundum Universal Limited
- Futong Industry Co. Limited
- Electro Abrasives, LLC
- Washington Mills
- Grindwell Norton Ltd.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America silicon carbide market.
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