CVD silicon carbide is a compound semiconductor material which possesses unique properties such as high thermal conductivity, high breaking strength, wear resistance and excellent thermal shock resistance. Due to these advantages, CVD silicon carbide finds widespread application in semiconductor devices, LEDs, solar cells and others.
The global CVD Silicon Carbide Market is estimated to be valued at US$ 643.6 Million in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the CVD silicon carbide market is its increasing usage in the advanced packaging segment. Advanced packaging provides an alternative solution for thermal issues, chip performance and product miniaturization. CVD silicon carbide’s unique properties like high thermal conductivity enables use in advanced packaging applications. Its thermal stability, high breakdown field and radiation hardness makes it an ideal material for integration in advanced semiconductor devices for this growing segment.
SWOT Analysis
Strength: CVD silicon carbide has high thermal conductivity, high mechanical strength and is corrosion resistant. It can withstand high operating temperatures making it suitable for applications in the power electronics and semiconductor industries.
Weakness: CVD silicon carbide has high production costs as the deposition process requires sophisticated furnace setup and control of deposition parameters. This increases the overall costs.
Opportunity: Increasing demand for wide bandgap semiconductors due to their superior material properties over conventional silicon. CVD silicon carbide is increasingly being used in power electronics, batteries, fast charging systems creating new revenue opportunities.
Threats: Availability of alternative wide bandgap materials like gallium nitride and aluminum nitride which can perform similar functions as silicon carbide at relatively lower costs. Stringent environment regulations regarding carbon emissions during silicon carbide manufacturing process.
Key Takeaways
The global CVD Silicon Carbide Market Demand is expected to witness high, exhibiting CAGR of 11% over the forecast period, due to increasing demand for wide bandgap semiconductors in the renewable energy sector. The market size for CVD silicon carbide is estimated to reach US$ 1.4 Bn by 2030.
Regional analysis
Asia Pacific dominated the global CVD silicon carbide market in 2023 and is expected to maintain its leading position during the forecast period. This can be attributed to presence of emerging economies like China and India with significant planned investments in renewable energy projects. Countries are diversifying their energy portfolio by enhancing domestic solar and wind power generation capabilities.
North America is projected to witness steady growth in the CVD silicon carbide market owing to rising focus on electric vehicles and presence of key market players. Government incentives and regulations to curb vehicular emissions are boosting the adoption of wide bandgap semiconductors in automotive power electronics applications.
Key players
Key players operating in the CVD silicon carbide market are Tokai Carbon, Morgan Advanced Materials, Ferrotec, CoorsTek, AGC, SKC Solmics, Sgl Carbon, Toyo Tanso, Mersen, and Zhicheng Semiconductor. Leading companies are expanding their production capacities and investing in R&D to widen the applications of silicon carbide in fast growing sectors. Partnerships with automotive giants and renewable energy project developers are strengthening their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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