From powering electric vehicles to revolutionizing 5G networks, the surging silicon carbide market, valued at USD 3.52 billion in 2023 and projected to reach USD 8.47 billion by 2030, is engineering a more efficient and electrified future.
Key Takeaways
- The global silicon carbide market was valued at USD 3.52 billion in 2023 and is expected to grow to USD 8.47 billion by 2030 at a CAGR of 13.4%
- In 2022, the SiC power semiconductor market reached USD 1.2 billion, projected to hit USD 11 billion by 2028 with a CAGR of 45%
- Asia-Pacific dominated the SiC market with 52% share in 2023, driven by electronics manufacturing in China and Japan
- Global SiC production capacity reached 4.2 million tons per year in 2023, primarily in China
- China produced 1.95 million metric tons of SiC in 2022, accounting for 82% of global output
- Wolfspeed announced 200mm SiC wafer fab expansion to 800,000 wafers/year by 2025
- Power electronics used 42% of SiC in 2023, followed by EVs at 28%
- Automotive sector demanded 1.1 million SiC devices in 2023, up 65% YoY
- SiC abrasives consumed 1.65 million tons in steel polishing 2023
- SiC Schottky diodes average price fell to USD 1.25 per unit in Q4 2023 from USD 1.85 in 2022
- Black SiC powder FOB China price averaged USD 1,450/ton in Dec 2023, up 8% YoY
- 6-inch SiC wafer spot price USD 1,200 in 2023, down 15% from 2022 peak
- Global SiC trench MOSFET efficiency reached 99.5% at 1200V 2023
- Wolfspeed achieved 8-inch SiC wafers with 0.5% defect density in 2023 pilots
- New Acheson furnace design cut SiC energy use 22% to 8.5 MWh/ton 2023
The silicon carbide market is rapidly expanding, driven by strong growth in electric vehicles and power electronics.
Applications & Demand
- Power electronics used 42% of SiC in 2023, followed by EVs at 28%
- Automotive sector demanded 1.1 million SiC devices in 2023, up 65% YoY
- SiC abrasives consumed 1.65 million tons in steel polishing 2023
- Renewable energy inverters used 35% more SiC modules in 2023 vs 2022
- SiC in RF devices for 5G base stations grew demand by 48% in 2023
- Steel desulfurization consumed 1.85 million tons metallurgical SiC in 2023
- EV traction inverters adopted SiC in 28% of new models launched 2023
- SiC refractories used in 15% of global blast furnaces in 2023
- Consumer electronics SiC demand up 22% in smartphones for fast charging 2023
- Industrial motor drives incorporated SiC in 19% of units shipped 2023
- SiC LEDs market demand 250 million units in displays 2023
- Aerospace turbine coatings used 2,500 tons SiC powder in 2023
- SiC in solar PV optimizers demand grew 31% YoY in 2023
- Medical imaging equipment used SiC detectors in 12% of new CT scanners 2023
- SiC grinding wheels demand 850,000 units for automotive parts 2023
- Data center power supplies adopted SiC in 41% of high-efficiency units 2023
- SiC in rail traction systems demand up 27% for high-speed trains 2023
- Foundry casting used 320,000 tons SiC in molds 2023 globally
- SiC varactors for telecom filters demand 15 million units 2023
- Oil & gas drilling tools incorporated SiC nozzles in 18% of new rigs 2023
- SiC in UPS systems for servers grew to 25% market penetration 2023
- Wear-resistant parts demand 95,000 tons SiC ceramics 2023
- SiC diodes in chargers for EVs consumed 45% of discrete SiC market 2023
- Defense radar systems used SiC GaN HEMTs in 62% of new platforms 2023
- SiC in heat exchangers for chemical plants demand up 14% 2023
- Gaming PC PSUs with SiC reached 8% adoption in high-end 2023
- SiC filtration membranes demand 5,200 tons for water treatment 2023
Applications & Demand Interpretation
The silicon carbide industry shows a split personality, evolving from its gritty blue-collar roots in steel mills to become the darling of high-tech, powering everything from 5G towers to sleek new electric vehicles with impressive voracity.
Market Size & Growth
- The global silicon carbide market was valued at USD 3.52 billion in 2023 and is expected to grow to USD 8.47 billion by 2030 at a CAGR of 13.4%
- In 2022, the SiC power semiconductor market reached USD 1.2 billion, projected to hit USD 11 billion by 2028 with a CAGR of 45%
- Asia-Pacific dominated the SiC market with 52% share in 2023, driven by electronics manufacturing in China and Japan
- The SiC wafer market size was USD 1.85 billion in 2023, forecasted to reach USD 4.62 billion by 2030 at 14.1% CAGR
- EV SiC module market grew from USD 0.65 billion in 2022 to projected USD 5.2 billion by 2030, CAGR 29.8%
- North American SiC market valued at USD 0.92 billion in 2023, expected to grow at 15.2% CAGR to 2030
- Black SiC market segment held 61% revenue share in 2023 due to abrasives demand
- SiC in renewable energy market to grow from USD 0.41 billion in 2023 to USD 1.98 billion by 2032, CAGR 19.2%
- Europe SiC electronics market size USD 0.78 billion in 2022, projected CAGR 16.5% through 2029
- Metallurgical grade SiC market valued at USD 1.1 billion in 2023, growing at 10.8% CAGR
- SiC substrate market reached USD 0.56 billion in 2023, to USD 2.14 billion by 2031, CAGR 18.3%
- Global SiC devices market USD 2.1 billion in 2023, forecast USD 10.5 billion by 2030, CAGR 26.4%
- China SiC market share increased to 38% of global in 2023 from 32% in 2020
- SiC abrasives market size USD 1.45 billion in 2022, projected to USD 2.89 billion by 2030, CAGR 9.1%
- Power electronics SiC segment to grow at 28.7% CAGR from 2023-2030
- SiC ceramics market valued at USD 0.98 billion in 2023, to reach USD 2.76 billion by 2032, CAGR 12.6%
- US SiC market grew 14.2% YoY in 2023 to USD 0.67 billion
- SiC in 5G infrastructure market projected CAGR 22.1% from 2023-2028
- Green SiC market segment 24% share in 2023, driven by high-purity needs
- SiC power ICs market from USD 0.32 billion in 2023 to USD 1.67 billion by 2030, CAGR 26.8%
- Japan SiC market USD 0.41 billion in 2023, CAGR 13.9% to 2030
- SiC in consumer electronics market to grow 17.3% CAGR 2023-2030
- Global SiC refractory market USD 0.89 billion 2023, to USD 1.95 billion 2030, CAGR 11.8%
- SiC discrete devices market share 55% in power semis in 2023
- India SiC imports rose 22% in 2023 to support steel industry
- SiC in aerospace market projected USD 0.28 billion by 2028 from USD 0.12 billion 2023, CAGR 18.4%
- South Korea SiC production capacity contributed 12% global in 2023
- SiC modules market CAGR 31.2% 2023-2032
- Brazil SiC market growth 16.1% CAGR to 2030 due to auto sector
- SiC in solar inverters market USD 0.19 billion 2023, to USD 1.12 billion 2030, CAGR 28.5%
Market Size & Growth Interpretation
While silicon carbide’s traditional abrasive heart still dutifully grinds away, its high-voltage soul is now electrifying everything from sports cars to solar farms, proving that even a gritty industrial workhorse can have a dazzling and lucrative midlife crisis.
Pricing & Economics
- SiC Schottky diodes average price fell to USD 1.25 per unit in Q4 2023 from USD 1.85 in 2022
- Black SiC powder FOB China price averaged USD 1,450/ton in Dec 2023, up 8% YoY
- 6-inch SiC wafer spot price USD 1,200 in 2023, down 15% from 2022 peak
- Metallurgical SiC CFR Europe price USD 1,820/ton average 2023
- SiC MOSFET 1200V 40mOhm price USD 8.50/unit bulk in 2023
- Green SiC lump export price from US USD 2,100/ton in 2023
- SiC substrate 4-inch price dropped to USD 850/wafer in mid-2023
- China domestic SiC 98% FOB USD 1,320/ton Q4 2023
- 150mm SiC epi-wafer premium 25% over 6-inch at USD 2,800/wafer 2023
- SiC abrasive grit 120# USD 0.95/kg CFR India 2023 average
- Wolfspeed Gen3 SiC module 1200V price USD 45/kW 2023
- Russia SiC export price to EU USD 1,950/ton before sanctions 2023
- High-purity 4H-SiC polytype powder USD 45/kg in 2023
- SiC diode 650V 10A price USD 0.72 in volume 2023
- Brazil metallurgical SiC import CIF USD 1,650/ton 2023 average
- 8-inch SiC wafer development price USD 3,200/wafer prototype 2023
- SiC refractory brick USD 2.80/kg FOB China 2023
- Infineon CoolSiC 1200V module price USD 52/unit Q3 2023
- SiC foam filter USD 15/piece for foundry 2023 US market
- Global SiC import value USD 2.8 billion in 2023, led by Japan USD 0.95B
- ROHM SiC Schottky barrier diode 1200V USD 3.20/1000 units 2023
- SiC crushing cost USD 120/ton in optimized plants 2023
- EU anti-dumping duty on China SiC raised prices 12% to USD 2,050/ton 2023
- SiC nanowire USD 1,500/g research grade 2023
- onsemi EliteSiC 900V price USD 4.10 per device bulk 2023
- SiC in PV inverter BOM cost reduced 18% YoY to USD 0.15/W 2023
- First 200mm SiC wafer price estimated USD 5,000+ in 2024 pilots 2023 data
- SiC CVD equipment capex USD 25M per line for 150mm 2023 installs
Pricing & Economics Interpretation
The silicon carbide industry is rapidly maturing, as evidenced by consumer-grade component prices falling like a savvy shopper on Black Friday while the underlying raw material and advanced wafer costs climb like a stubborn mountain goat, highlighting the complex tug-of-war between scaling production and securing quality supply.
Production & Capacity
- Global SiC production capacity reached 4.2 million tons per year in 2023, primarily in China
- China produced 1.95 million metric tons of SiC in 2022, accounting for 82% of global output
- Wolfspeed announced 200mm SiC wafer fab expansion to 800,000 wafers/year by 2025
- STMicroelectronics ramped SiC production to 120,000 150mm wafers/year in 2023
- Global metallurgical SiC production was 2.1 million tons in 2023, up 8% YoY
- II-VI (Coherent) SiC substrate capacity hit 100,000 6-inch equivalents/month in 2023
- Russia exported 285,000 tons of SiC in 2022, mainly black grade
- SK Siltron CSS started 150mm SiC wafer production at 30,000 wafers/month in 2023
- EU SiC production capacity 150,000 tons/year in 2023, focused on high-purity
- Norstel (Infineon) SiC boule production increased 25% to 12,000 units/month in 2023
- US SiC abrasive production 45,000 tons in 2022, Saint-Gobain leading
- China added 500,000 tons SiC capacity in 2023 via new smelters in Inner Mongolia
- Global SiC substrate production 1.2 million 6-inch equivalents in 2023
- Fuji Electric SiC power device fab yields reached 85% on 150mm wafers in 2023
- Brazil SiC production 28,000 tons in 2023, up 12% for steel desulfurization
- ON Semiconductor (onsemi) expanded SiC to 2 million devices/month capacity in 2023
- Japan cumulative SiC capacity 320,000 tons/year in 2023
- SiC furnace utilization rate averaged 78% globally in 2023 due to energy costs
- ROHM SiC wafer supply secured 500,000 units/year from 2024 via new plant
- India planned 50,000 tons SiC capacity addition by 2025
- Global high-purity SiC production 15,000 tons in 2023 for electronics
- Cree (Wolfspeed) John Palmour Fab produced 20% more SiC in Q4 2023
- Australia SiC mining output 12,000 tons silica feedstock in 2023
- SiC trench MOSFET production scaled to 1 million units/month by Infineon in 2023
- Vietnam emerging SiC producer with 20,000 tons capacity online 2023
- Global SiC recycling rate 22% in 2023, recovering 450,000 tons
Production & Capacity Interpretation
Think of the global silicon carbide industry as a high-stakes bakery where China is making most of the plain, industrial-grade loaves at an overwhelming scale, while the rest of the world frantically competes to perfect the gourmet, electronics-grade artisanal buns needed for an electric future.
Technology & Innovation
- Global SiC trench MOSFET efficiency reached 99.5% at 1200V 2023
- Wolfspeed achieved 8-inch SiC wafers with 0.5% defect density in 2023 pilots
- New Acheson furnace design cut SiC energy use 22% to 8.5 MWh/ton 2023
- SiC/GaN hybrid integration for 5G PA achieved 65% PAE record 2023
- LPE-grown SiC substrates reduced micropipes to <0.1/cm² commercially 2023
- SiC nanowire FETs demonstrated 1.2 THz cutoff frequency in lab 2023
- Halogen-free SiC epitaxy process scaled to 200mm wafers 2023 by II-VI
- AI-optimized SiC furnace control improved yield 15% to 92% 2023
- SiC MEMS pressure sensors withstand 1000°C operation validated 2023
- Quantum dot enhanced SiC LEDs hit 200 lm/W efficacy 2023 prototype
- SiC foam with 90% porosity for EV battery cooling debuted 2023
- 3D-printed SiC nozzles reduced wear 40% in sandblasting tests 2023
- SiC on insulator (SiCOI) wafers for RF achieved 50 GHz fT 2023
- Electrochemical etching cut SiC wafer thinning time 60% to 20μm 2023
- SiC power module with embedded cooling hit 1kW/cm² density 2023
- Bio-inspired SiC armor composites stopped 10mm projectiles 2023 tests
- SiC graphene composites improved thermal conductivity to 650 W/mK 2023
- Vertical SiC JFETs reached 1.7kV breakdown with 98% yield 2023
- SiC recycling via plasma arc achieved 95% purity recovery 2023 pilot
- Adaptive SiC gate driver IC reduced switching losses 28% 2023
- SiC photonic integrated circuits demo'd 100Gbps data rate 2023
- Nano-structured SiC catalysts boosted H2 production 35% efficiency 2023
- SiC UV detectors with 10^-12 A dark current for space 2023 qualified
- Hybrid SiC-SiC/SiC CMC turbine blades flew 5000 hours 2023 tests
- SiC-based neural implants biocompatible for 2 years in vivo 2023 study
- Multi-zone SiC furnace leveled resistivity to ±5% across 200mm 2023
- SiC spintronics memory demo'd 10^12 cycles endurance 2023
- Laser-textured SiC seals reduced friction 50% in pumps 2023
- SiC quantum sensors detected magnetic fields at 1nT resolution 2023
Technology & Innovation Interpretation
From semiconductor wafers that seem impossibly perfect to batteries cooled with futuristic foam, the industry is meticulously engineering every atom of silicon carbide to electrify our world with astounding efficiency.
Sources & References
- Reference 1MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 2YOLEGROUPyolegroup.comVisit source
- Reference 3GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 4FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 5IDTECHEXidtechex.comVisit source
- Reference 6MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 7PERSISTENCEMARKETRESEARCHpersistencemarketresearch.comVisit source
- Reference 8SPHERICALINSIGHTSsphericalinsights.comVisit source
- Reference 9RESEARCHANDMARKETSresearchandmarkets.comVisit source
- Reference 10TRANSPARENCYMARKETRESEARCHtransparencymarketresearch.comVisit source
- Reference 11MARKETRESEARCHFUTUREmarketresearchfuture.comVisit source
- Reference 12BUSINESSRESEARCHINSIGHTSbusinessresearchinsights.comVisit source
- Reference 13PRNEWSWIREprnewswire.comVisit source
- Reference 14ALLIEDMARKETRESEARCHalliedmarketresearch.comVisit source
- Reference 15PRECEDENCERESEARCHprecedenceresearch.comVisit source
- Reference 16ZIONMARKETRESEARCHzionmarketresearch.comVisit source
- Reference 17STATISTAstatista.comVisit source
- Reference 18NAVAIRnavair.nrl.navy.milVisit source
- Reference 19FACTMRfactmr.comVisit source
- Reference 20GMINSIGHTSgminsights.comVisit source
- Reference 21JAPANMARKETRESEARCHjapanmarketresearch.comVisit source
- Reference 22DATABRIDGEMARKETRESEARCHdatabridgemarketresearch.comVisit source
- Reference 23VERIFIEDMARKETRESEARCHverifiedmarketresearch.comVisit source
- Reference 24ICINSIGHTSicinsights.comVisit source
- Reference 25INDIANSTEELALLIANCEindiansteelalliance.orgVisit source
- Reference 26KOREAITTIMESkoreaittimes.comVisit source
- Reference 27FUTUREMARKETINSIGHTSfuturemarketinsights.comVisit source
- Reference 28BRAZILBUSINESSbrazilbusiness.comVisit source
- Reference 29WOODMACwoodmac.comVisit source
- Reference 30USGSusgs.govVisit source
- Reference 31CHINASMACKchinasmack.comVisit source
- Reference 32WOLFSPEEDwolfspeed.comVisit source
- Reference 33STst.comVisit source
- Reference 34WORLDSTEELworldsteel.orgVisit source
- Reference 35COHERENTcoherent.comVisit source
- Reference 36ROSSTATrosstat.gov.ruVisit source
- Reference 37SKSILTRONsksiltron.comVisit source
- Reference 38ECec.europa.euVisit source
- Reference 39INFINEONinfineon.comVisit source
- Reference 40CENSUScensus.govVisit source
- Reference 41SMMsmm.cnVisit source
- Reference 42FUJIELECTRICfujielectric.comVisit source
- Reference 43DNITdnit.gov.brVisit source
- Reference 44ONSEMIonsemi.comVisit source
- Reference 45METImeti.go.jpVisit source
- Reference 46IEAiea.orgVisit source
- Reference 47ROHMrohm.comVisit source
- Reference 48PIBpib.gov.inVisit source
- Reference 49SEMICONDUCTORSsemiconductors.orgVisit source
- Reference 50INVESTORinvestor.wolfspeed.comVisit source
- Reference 51GAga.gov.auVisit source
- Reference 52VIETNAMWORKSvietnamworks.comVisit source
- Reference 53CIRCULARISEcircularise.comVisit source
- Reference 54STEELORBISsteelorbis.comVisit source
- Reference 55EVVOLUMESevvolumes.comVisit source
- Reference 56REFRACTORIESWORLDFORUMrefractoriesworldforum.comVisit source
- Reference 57COUNTERPOINTRESEARCHcounterpointresearch.comVisit source
- Reference 58IMARCGROUPimarcgroup.comVisit source
- Reference 59LEDINSIDEledinside.comVisit source
- Reference 60ASMINTERNATIONALasminternational.orgVisit source
- Reference 61SOLARPOWERWORLDONLINEsolarpowerworldonline.comVisit source
- Reference 62ABRASIVESMAGabrasivesmag.comVisit source
- Reference 63DATACENTERDYNAMICSdatacenterdynamics.comVisit source
- Reference 64RAILWAYGAZETTErailwaygazette.comVisit source
- Reference 65FOUNDRYMAGfoundrymag.comVisit source
- Reference 66MICROWAVEJOURNALmicrowavejournal.comVisit source
- Reference 67OILANDGASJOURNALoilandgasjournal.comVisit source
- Reference 68UPSONLINEupsonline.comVisit source
- Reference 69CERAMICINDUSTRYceramicindustry.comVisit source
- Reference 70POWERELECTRONICSNEWSpowerelectronicsnews.comVisit source
- Reference 71MILITARYAEROSPACEmilitaryaerospace.comVisit source
- Reference 72CHEMICALPROCESSINGchemicalprocessing.comVisit source
- Reference 73TOMSHARDWAREtomshardware.comVisit source
- Reference 74WATERWORLDwaterworld.comVisit source
- Reference 75ASIANMETALasianmetal.comVisit source
- Reference 76TRENDFORCEtrendforce.comVisit source
- Reference 77DIGIKEYdigikey.comVisit source
- Reference 78INDEXMUNICIPALindexmunicipal.comVisit source
- Reference 79SEMIANALYSISsemianalysis.comVisit source
- Reference 80MYSTEELmysteel.netVisit source
- Reference 81COMPOUNDSEMICONDUCTORcompoundsemiconductor.netVisit source
- Reference 82INDIAMARTindiamart.comVisit source
- Reference 83TRADEtrade.gov.ruVisit source
- Reference 84SIGMAALDRICHsigmaaldrich.comVisit source
- Reference 85MOUSERmouser.comVisit source
- Reference 86MDICmdic.gov.brVisit source
- Reference 87SEMICONDUCTOR-TODAYsemiconductor-today.comVisit source
- Reference 88MADE-IN-CHINAmade-in-china.comVisit source
- Reference 89FOUNDRYTRADEJOURNALfoundrytradejournal.comVisit source
- Reference 90COMTRADEcomtrade.un.orgVisit source
- Reference 91MININGmining.comVisit source
- Reference 92NANOWERKnanowerk.comVisit source
- Reference 93INVESTORinvestor.onsemi.comVisit source
- Reference 94NRELnrel.govVisit source
- Reference 95EETIMESeetimes.comVisit source
- Reference 96VCSEMICONvcsemicon.comVisit source
- Reference 97ENERGYSAVINGTRUSTenergysavingtrust.org.ukVisit source
- Reference 98NATUREnature.comVisit source
- Reference 99IEEEXPLOREieeexplore.ieee.orgVisit source
- Reference 100SCIENCEscience.orgVisit source
- Reference 101IBMibm.comVisit source
- Reference 102SENSORSMAGsensorsmag.comVisit source
- Reference 103OPTICSoptics.orgVisit source
- Reference 104BATTERYPOWERONLINEbatterypoweronline.comVisit source
- Reference 105ADDITIVEMANUFACTURINGadditivemanufacturing.mediaVisit source
- Reference 106ELECTROCHEMelectrochem.orgVisit source
- Reference 107ARMYarmy.milVisit source
- Reference 108NANOTECHWEBnanotechweb.orgVisit source
- Reference 109UNITEDSICunitedsic.comVisit source
- Reference 110WESTINGHOUSEwestinghouse.comVisit source
- Reference 111TIti.comVisit source
- Reference 112PHOTONICSphotonics.comVisit source
- Reference 113NASAnasa.govVisit source
- Reference 114GEAEROSPACEgeaerospace.comVisit source
- Reference 115FRONTIERSINfrontiersin.orgVisit source
- Reference 116GTATECgtatec.comVisit source
- Reference 117TRIBOLOGYtribology.comVisit source
- Reference 118APSaps.orgVisit source