Aerospace and Defense is fastest growing segment fueling the growth of CVD Silicon Carbide Market
Aerospace and Defense is fastest growing segment fueling the growth of CVD Silicon Carbide Market
The global CVD Silicon Carbide Market is estimated to be valued at US$ 643.6 Mn 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.

Aerospace and Defense is fastest growing segment fueling the growth of CVD Silicon Carbide Market

CVD Silicon Carbide is a compound semiconductor material made through chemical vapor deposition. It finds use in applications requiring high hardness, strength to weight ratio, corrosion and wear resistance. Its superior thermal conductivity also make it suitable for use in applications involving dissipation of large amounts of heat like power electronics and substrates for gallium nitride.

Market key trends:
One of the key trends shaping the CVD Silicon Carbide market is rising demand from Aerospace & Defense industry. CVD Silicon Carbide is increasingly replacing metals in this sector owing to its light weight, high strength and ability to operate in extreme conditions like high temperatures. Its high hardness and stiffness makes it suitable for components in aircraft engines, space components and armored vehicles. This is boosting adoption of CVD Silicon Carbide in various applications such as hot gas components, rocket propulsion systems, space mirrors and armored vehicle parts in this sector.
Segment Analysis
The global CVD silicon carbide market is segmented by product into black silicon carbide and green silicon carbide. Black silicon carbide dominates the market as it offers better oxidation resistance and higher strength as compared to green silicon carbide. Black silicon carbide also exhibits superior thermal conductivity and excellent mechanical properties such as good thermal shock resistance and wear resistance, which make it suitable for numerous end-use applications.

Key Takeaways
The global CVD silicon carbide market is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing demand from semiconductor industry.

Regional analysis
Asia Pacific dominates the global CVD silicon carbide market. Countries like China, Japan, and India in the region have been exhibiting highest growth owing to rapid industrialization and increasing investments in large scale semiconductor wafer production plants.

Key players
Key players operating in the CVD Silicon Carbide Market Growth are Tokai Carbon, Morgan Advanced Materials, Ferrotec, CoorsTek, AGC, SKC Solmics, Sgl Carbon, Toyo Tanso, Mersen, Zhicheng Semiconductor. Key players are focusing on expanding their semiconductor grade CVD silicon carbide production capacities and exploring opportunities in high potential regional markets to gain competitive advantage.

 

Get more insights on this topic: https://www.newsstatix.com/silicon-carbide-market-size-growth/

 

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