by Silicon carbide, also known as carborundum, is an extremely hard crystalline compound of silicon and carbon. CVD silicon carbide is formed through chemical vapor deposition, wherein a hydrocarbon gas and silane are reacted and deposited on a substrate in high vacuum and high temperature conditions. CVD silicon carbide exhibits excellent properties such as high thermal conductivity, high mechanical strength, excellent oxidation resistance, low thermal expansion, and chemical inertness. Owing to these superior properties, CVD silicon carbide finds wide usage in wear-resistant parts, friction materials, high-temperature crucibles and furnace parts, pump seals, ceramic fibers for heat insulation, high-temperature semiconductors and micro-electromechanical systems.
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 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the major trends gaining traction in the CVD silicon carbide market is the development of high-volume manufacturing techniques. CVD silicon carbide possesses exceptional thermal and physical properties which make it suitable for applications requiring high performance materials. However, its high production costs have limited widespread commercialization. Key players are focusing on developing improved and affordable synthesis processes to reduce costs and support high-volume commercialization. This is expected to make CVD silicon carbide more viable for large-scale applications and further propel the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low economies of scale and significant capital requirements make the threat of new entrants into the CVD silicon carbide market low.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternative materials like aluminum oxide and zirconium oxide.
Bargaining power of suppliers: A few major players control the supply of raw materials for CVD silicon carbide, giving suppliers higher bargaining power.
Threat of new substitutes: Alternatives like aluminum oxide and zirconium oxide pose moderate threat as substitutes for some applications of CVD silicon carbide.
Competitive rivalry: The presence of few major players leads to high competitive rivalry in the market.
Key Takeaways
The global CVD Silicon Carbide Market Growth is expected to witness high. 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 6.8% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the market and is expected to maintain its leading position during the forecast period as well. Countries like China, India, and Japan are major contributors to the growth of the regional market. North America and Europe are also significant markets for CVD silicon carbide.
Key players: Key players operating in the CVD Silicon Carbide Market are FLSmidth & Co. A/S, Metso Oyj, Koppern Group, CITIC Heavy Industries Co. Ltd. (CITIC HIC), ThyssenKrupp Industrial Solutions AG (Polysius AG), SGS S.A., KHD Humboldt Wedag International AG, Outotec Oyj, and ABB Ltd. The market is highly competitive in nature with a few major players dominating the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
