Keywords :
silicon carbide market
Silicon carbide Market Analysis
Silicon carbide possess some market growth driving properties such as density, oxidation resistance, excellent thermal shock resistance, high strength, high thermal conductivity, high-temperature strength, high hardness, and wear resistance, excellent chemical resistance, and low thermal expansion.
On account of these properties, silicon carbide is being largely preferred in high temperature application and sets a progressive growth among all applications. In the coming years, the silicon carbide is expected to major semiconductor and used in semiconductor electronics devices. Hence, growing semiconductor and electronics industry could be an important market driver for silicon carbide over the forecast period.
Use of silicon carbide is expected to experience significant gains in the healthcare applications, wherein, it is used for radiations in number of detectors. Increasing healthcare spending is likely to fuel the applications of silicon carbide in medical sector and likely to widen the application scope. Increasing pressure from consumers and government from military and defense has forced key participants to innovate new product formulations. Thus, silicon carbide could be used in these industries largely owing to properties associated with it.

Top Key Players
Some of the key players in the global silicon carbide market are Grindwell Norton (India), ESK SIC GmbH, Dow Chemical company (US), Carborundum Universal (India), Entegris Inc (US), Norstel AB (Sweden), Renesas Electronics Corporation (Japan), ROHM Co Ltd (Japan), Toshiba Corporation (Japan), and Microsemi Corporation (US).

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Regional Analysis

As of 2016, Asia Pacific dominated the global silicon carbide market and has acquired over half of the global market in terms of the value and volume. The major growth driving economies in this region are China, India and Japan. China is one of the most impactful regional as well as global market registered the highest CAGR as of 2016 due to largest industrial growth.
The country is emerging as a manufacturing hub, which has made it most impactful market across the globe.
Automotive, steel manufacturing, medical and healthcare markets in this region have been the healthier markets for silicon carbide and is complementing regional growth. In addition, industrial expansion influenced by political forces, specifically, in India along with economic developments has developing its application scope.

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