The global ultra-high purity silicon carbide market size was worth around USD 26.6 million in 2021 and is predicted to grow to around USD 92.8 million by 2030 with a compound annual growth rate (CAGR) of roughly 14.9% between 2022 and 2030.
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➤ The market development will be driven by the increasing demand for electric vehicles.
The demand for EVs and EV charging stations has increased significantly as a result of the significant increase in greenhouse gases and various government initiatives to reduce oil imports. According to research conducted by the European Energy Agency (EEA), electric vehicles (EVs) emit approximately 17–30% less carbon dioxide than petroleum or diesel vehicles. Consequently, the global market for electric vehicles has experienced a significant increase in sales and has experienced an accelerated adoption rate. In 2021, the global sale of electric vehicles (EVs) has increased by 108% to 6.75 million units, with BEVs comprising 71% of these sales. Automakers are increasingly seeking higher voltage drive systems to reduce the overall weight of EVs and abbreviate charging times, thereby enabling longer driving ranges, as the EV market continues to grow.
➤ The production of large SiC wafers with minimal defects necessitates high manufacturing and processing costs.
Due to its inaccessibility as a natural mineral, silicon carbide is synthesized through furnace processes. SiC materials are commercially fabricated in high-temperature environments and are more expensive than silicon. For instance, the increased cost of device fabrication for foundries is a result of the reduced number of fabrication facilities. Furthermore, the chemical inertness and low diffusion coefficient of SiC render doping a difficult task in its production. Various types of material defects in SiC substrates are produced by the current production processes.
➤ A lucrative opportunity is presented by emerging technologies, including AI and quantum computation.
It is also anticipated that the global ultra high purity silicon carbide market participants will be presented with new opportunities as a result of the development of upcoming technologies, including quantum computing, artificial intelligence, and 5G technology. The continuing adoption of these technologies, particularly in the United States, is anticipated to be one of the primary factors driving market expansion. These technologies have enabled the semiconductor industry and the development of data centers, supercomputers, and artificial intelligence (AI) systems that depend on them to advance, as the U.S. business community has made substantial investments in them. For example, US semiconductor industry R&D expenditures increased at a compound annual growth rate (CAGR) of 6.6% from 1999 to 2019. In 2019, the United States accounted for the highest percentage of sales in R&D expenditure, with a total of USD 39.8 billion, or approximately 17% of sales.
➤ Substitute availability
The increase in demand for silicon carbide as a third-generation semiconductor material may be mitigated by the availability of substitutes such as gallium nitride, which possess comparable qualities such as the ability to withstand high voltage, high frequency, similar bandwidth, and breakdown field. Gallium nitride is more suitable for high-frequency applications due to its higher electron mobility in comparison to SiC. It is anticipated that these factors will restrict the market’s capacity to expand its revenue.
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The Global Ultra High Purity Silicon Carbide Market is segmented based on product, application and region
Global Ultra High Purity Silicon Carbide Market: Product Segment Analysis
● Semiconductor
● LEDs
● Others
Global Ultra High Purity Silicon Carbide Market: Application Segment Analysis
● Online
● Offline
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The global Ultra High Purity Silicon Carbide market profiles key players such as:
● LG Innotek
● American Elements
● Pacific Rundum Co. Ltd.
● JJISCO Inc.
● CoorsTek Inc.
● Washington Mills
● JJISCO
● Ferrotec Corporation
● Nanoshel LLC
● Polycrystal
● Bridgestone Corporation
● AGC Inc
???? Recent Developments:
• In August 2022, a multi-year supply agreement for silicon carbide (SiC) wafers was signed between Infineon Technologies AG and II-VI Incorporated. This strategic semiconductor material is being further accessed by the German-based semiconductor manufacturer in order to satisfy the substantial increase in customer demand in this sector. Additionally, the agreement enhances Infineon’s supply chain resilience and supports its multi-sourcing strategy. The initial deliveries have already occurred.
• Toshiba Electronic Devices & Storage Corporation (“Toshiba”) introduced the “TWxxNxxxC series” in August 2022. These 3rd generation Silicon Carbide (SiC) MOSFETs offer a low on-resistance and a substantially reduced switching loss. The new products reduce the on-resistance per unit area (RDS(ON)A) by approximately 43%, which enables the drain-source on-resistance * gate-drain charge (RDS(ON)*Qgd) to be reduced by approximately 80%. This index represents the relationship between conduction loss and switching loss. This reduces the switching loss by approximately 20% and reduces both the on-resistance and the switching loss. These new products enhance the efficacy of equipment.
➤ In 2021, the Asia Pacific region accounted for the highest revenue share.
In 2021, the Asia Pacific region dominated the global ultra high purity silicon carbide market with a revenue share of over 45%. This trend is anticipated to persist throughout the forecast period. The region’s expansion is ascribed to the increasing demand from the semiconductor and electronics industries. The encouraging trend in the production of electronic components, cell phones, computers, industrial electronics, consumer electronics, and LED lighting has facilitated the expansion of the regional market.
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