Global SiC Ingots Market (2024 Edition): Market Size, Trends, Opportunities and Forecast by Application (Electronics, Automotive , Renewable Energy, Aerospace & Defense and Other Applications), Wafer Size, Product Type, Region, By Country: 2020-2030

Global SiC Ingots Market (2024 Edition): Market Size, Trends, Opportunities and Forecast by Application (Electronics, Automotive , Renewable Energy, Aerospace & Defense and Other Applications), Wafer Size, Product Type, Region, By Country: 2020-2030

Background

A report published by Azoth Analytics highlights different factors and opportunities prevailing in the “Global SiC Ingots Market (2024 Edition)”. According to the report, Global SiC Ingots Market is expected to grow at a CAGR of 19.3% during 2025-2030.

The report explores a multi-faceted opportunity landscape in terms of market segmentation by Application (Electronics, Automotive , Renewable Energy, Aerospace & Defense and Other Applications), By Wafer Size (2-inch, 4-inch, 6-inch and More than 6-inch) and By Product Type (N-type SiC Ingots and Semi Insulating SiC Ingots)

Market Overview

The SiC (Silicon Carbide) Ingots market is expanding rapidly due to the increasing demand for high-performance semiconductor materials in power electronics, automotive, and telecommunications industries. SiC ingots, used to produce SiC wafers, offer superior thermal conductivity, high voltage resistance, and energy efficiency compared to traditional silicon wafers, making them ideal for applications in electric vehicles (EVs), power supplies, and high-frequency devices. The growing adoption of SiC technology, advancements in semiconductor manufacturing, and the rising demand for energy-efficient solutions drive the market for SiC ingots.

Key drivers of the SiC Ingots market include the increasing demand for electric vehicles, which require efficient power electronics to enhance battery performance and reduce energy consumption. The expanding renewable energy sector, where SiC-based inverters and converters are used for efficient power conversion, also contributes to market growth.

Technological advancements, such as the development of larger diameter SiC ingots, improved crystal growth techniques, and higher wafer quality, have enhanced the performance and adoption of SiC-based devices. Manufacturers are focusing on expanding their production capacities to meet the growing demand for SiC wafers in various applications.

Segment Insights

By application, the electronics segment holds the largest market share, accounting for approximately 60% of the SiC Ingots market in 2023. The demand for SiC-based power devices in electric vehicles, renewable energy systems, and industrial power supplies drives this segment. The telecommunications segment is also significant, supported by the increasing use of SiC technology in high-frequency and RF devices.

Geographical Insights

Asia Pacific leads the SiC Ingots market, driven by a strong semiconductor industry, high demand for electric vehicles, and the presence of key market players. The Asia-Pacific region is expected to witness the highest growth rate due to rapid industrialization, increasing production of electric vehicles, and growing investments in semiconductor manufacturing. Countries like China, Japan, and South Korea are key markets, supported by their strong electronics industry and focus on energy-efficient solutions.

Market Segmentation

By Application:

• Electronics
• Automotive
• Renewable Energy
• Aerospace & Defense
• Other Applications

By Wafer Size:

• 2-inch
• 4-inch
• 6-inch
• More than 6-inch

By Product Type:

• N-type SiC Ingots
• Semi Insulating SiC Ingots

By Geography

• Americas (The United States, Canada, Brazil, Mexico, Rest of Americas)
• Europe (United Kingdom, Germany, France, Italy, Spain, Turkey, Russia, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Singapore, Indonesia, Rest of Asia Pacific)
• Middle East and Africa (GCC, Israel, South Africa, Rest of Middle East and Africa)

Key Companies

The report assesses the competitive developments, strategies, mergers and acquisitions and new product development and market share portfolio of top 15 companies. Key companies in the Global SiC Ingots Market include:

• Fujimi Corporation
• Carborundum Universal Limited
• Norstel AB
• 3M Company
• Gaddis Engineered Materials
• Dow Chemical Company
• Grindwell Norton Limited
• AGSCO Corporation
• ESD-SIC b.v.
• Other Leading Companies

Reasons to buy this report:

• In-Depth Comparative Assessment of Top 20 Markets in the SiC Ingots Market Wafer Size: Comparative assessment of 20 leading countries highlighting the total addressable market, opportunities, lucrative segments and competitive positioning of leading companies.
• Comprehensive Historical, Present, and Future Analytics of the SiC Ingots Market: A deep dive in the historical (2020-2023), current (2024) and forecast (2025-2030) market analytics of SiC Ingots Market.
• Detailed Analysis of SiC Ingots Market By Application, Wafer Size, and Product Type Across 20 Countries
• Beyond the Purchase: 90 Days of Support
• Direct Access to Analysts: Have questions after reading the report? Our expert analysts are just a call or email away.
• Customized Assistance: Whether you're integrating insights into your strategy or have questions about market dynamics, our team provides tailored support to meet your specific business needs.
• Data Customization Requests: During the support period, you have the flexibility to request additional data cuts or deeper dives into specific areas of interest.
• Gain insights specific to new entrants or new market areas to tap: The study provides detailed market entry strategies, including analysis of barriers to entry, pricing strategies, opportunities, trends, drivers, and challenges and product positioning using the Opportunity Portfolio Matrix (OPM)
• Strategic Wafer Size Movements: Tracking Competitive Developments and Key Players in the Market: The report covers competitive strategies, mergers & acquisitions, new developments, future plans and market share analysis of ~15 top companies.

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