The CVD Silicon Carbide Market is Estimated to Witness High Growth Owing to High Thermal Conductivity
The CVD silicon carbide market is involved in the manufacturing of silicon carbide using chemical vapor deposition (CVD) technique. CVD is a highly efficient deposition process that provides high purity, precise thickness control and uniformity of the deposited silicon carbide films. CVD silicon carbide is widely used in semiconductor industries due to its excellent physical and chemical properties such as high thermal conductivity, high mechanical strength and chemical inertness. It is primarily used in applications such as RF devices, power devices and LEDs.
The 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.
Market Dynamics:
The CVD silicon carbide market is expected to witness significant growth over the forecast period, owing to two key drivers. Firstly, increasing demand for power devices from automotive and industrial sectors is expected to boost the market growth. Silicon carbide possesses high thermal conductivity which makes it ideal for making power devices that can operate at high switching speeds, voltages and temperatures. Secondly, rising adoption of silicon carbide in LED applications is further expected to fuel the market growth. Silicon carbide LEDs exhibit high efficiency, low thermal resistance and low saturation current which makes it suitable for LED lighting applications.
Market Overview:
The CVD silicon carbide market is involved in the manufacturing of silicon carbide using chemical vapor deposition (CVD) technique. CVD is a highly efficient deposition process that provides high purity, precise thickness control and uniformity of the deposited silicon carbide films. CVD silicon carbide is widely used in semiconductor industries due to its excellent physical and chemical properties such as high thermal conductivity, high mechanical strength and chemical inertness. It is primarily used in applications such as RF devices, power devices and LEDs.
Market Dynamics:
The CVD silicon carbide market is expected to witness significant growth over the forecast period, owing to increasing demand for power devices from automotive and industrial sectors as well as rising adoption of silicon carbide in LED applications. Silicon carbide possesses high thermal conductivity which makes it ideal for making power devices that can operate at high switching speeds, voltages and temperatures
SWOT Analysis
Strength: CVD silicon carbide has high strength and hardness which makes it suitable for applications requiring wear and corrosion resistance. It exhibits high thermal conductivity which enables efficient heat dissipation. CVD silicon carbide can be deposited evenly on complex shapes and achieved close tolerances.
Weakness: The CVD process to produce silicon carbide is expensive and time consuming which increases the overall cost of the material. Quality assurance of uniform coatings over large areas remains a challenge.
Opportunity: Growing demand from the semiconductor industry for more efficient power electronics is driving demand for silicon carbide.expanding 5G infrastructure and electric vehicles present opportunities for growth in the coming years.
Threats: Substitutes like gallium nitride threatens the market as it has similar properties but offers greater bandgap and higher electric field breakdown strength.Intense competition among established players limits the scope for price increase.
Key Takeaways
The global cvd Silicon Carbide Market Analysis is expected to witness high, exhibiting CAGR of 11% over the forecast period, due to increasing demand for power semiconductors with better heat dissipation capability. The market size for cvd silicon carbide is expected to reach US$ 1,476.1 Mn by 2030.
Regional analysis: North America dominated the global market in 2023, accounting for around 35.2% of the total share, due to strong presence of semiconductor fabricators in the US. Asia Pacific exhibits the highest growth rate owing to expansion of electronics and electric vehicle market in China, Taiwan and South Korea. Key players like Tokai Carbon, Morgan Advanced Materials have strengthened their foothold in the region.
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, Zhicheng Semiconductor. The market remains moderately consolidated with top players competing on qualities like uniform coatings, production throughput and pricing. Stable supply agreements with end use industries is a key competitive strategy adopted.
Get more insights on this topic: https://www.timessquarereporter.com/business/aerospace-and-defense-is-fastest-growing-segment-fueling-the-growth-of-cvd-silicon-carbide-market
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