Silicon Carbide Market Size and Share
Market Overview
| Study Period | 2024 - 2030 |
|---|---|
| Market Size (2025) | USD 4.82 Billion |
| Market Size (2030) | USD 7.99 Billion |
| Growth Rate (2025 - 2030) | 10.64% CAGR |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Silicon Carbide Market Analysis by Mordor Intelligence
The Silicon Carbide Market size is estimated at USD 4.82 billion in 2025, and is expected to reach USD 7.99 billion by 2030, at a CAGR of 10.64% during the forecast period (2025-2030). Momentum originates from the shift to 200 mm wafers, first realized by Infineon in February 2025, which nearly doubles chip output per substrate and lowers unit costs. Demand gains are sharpened by electric-vehicle (EV) makers migrating to 800 V architectures, renewable-energy inverters seeking 98% efficiency, and data-center operators targeting 25-40% cooling cost cuts. Government incentives amplify growth: the U.S. CHIPS Act granted USD 750 million to Wolfspeed’s North Carolina plant, while the European Chips Act allocated EUR 5 billion to STMicroelectronics’ Italian fab, bolstering regional supply security. Asia-Pacific retains scale advantages, yet Western sovereignty initiatives are redrawing supply-chain maps even as quantum-photonic research opens new, non-power electronics horizons for the silicon carbide market.
Key Report Takeaways
- By product type, black silicon carbide accounted for 42.18% of 2024 revenue, whereas green silicon carbide is poised to expand at a 13.51% CAGR through 2030.
- By application, electronics and semiconductors held 34.66% of the silicon carbide market share in 2024; automotive is projected to grow at 12.62% CAGR to 2030.
- By geography, Asia-Pacific commanded 52.87% revenue in 2024, while also leading future growth at a 12.18% CAGR.
Global Silicon Carbide Market Trends and Insights
Driver Impact Analysis
| Drivers | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Surging demand from power electronics | +3.2% | Global, focus on Asia-Pacific and North America | Medium term (2-4 years) |
| Increasing utilization of renewable energy | +2.8% | Europe and North America | Long term (≥ 4 years) |
| Fast adoption of SiC ceramics in extreme-temperature equipment | +1.9% | North America, Europe, and Asia-Pacific aerospace hubs | Long term (≥ 4 years) |
| Government incentives for wide-band-gap fabs | +2.1% | United States, European Union, Japan | Short term (≤ 2 years) |
| Growing usage in the aerospace and defense industry | +1.4% | North America, Europe, select Asia-Pacific markets | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Surging Demand from Power Electronics
Automotive OEMs transitioning to 800 V drivetrains now specify SiC MOSFETs capable of switching above 100 kHz, as shown by onsemi’s EliteSiC M3e family that halves turn-off losses versus prior nodes. Infineon’s 1200 V CoolSiC devices enable chargers operating beyond 900 V without extra insulation, accelerating EV platform adoption. Data-center operators report 25–40% cooling savings when SiC-based rectifiers lift conversion efficiency to 98%. Together, these use cases push wafer demand toward parity with silicon substrates by 2050. The silicon carbide market continues to broaden as industrial motor drives, rail traction, and server power supplies migrate to wide-band-gap solutions that outclass silicon IGBTs at high frequencies.
Increasing Utilization in Renewable Energy
Fraunhofer ISE’s 3.3 kV SiC transistors deliver 98.4% efficient solar inverters that connect directly to medium-voltage grids, eliminating bulky transformers. Solar installations achieve 2% additional system efficiency and 70% lower energy losses versus silicon diodes, while wind turbines use SiC’s thermal conductivity to handle 200 °C rotor-side temperatures without extra cooling. Bidirectional converters built on SiC underpin vehicle-to-grid schemes that stabilize networks during peak demand. European policy frameworks mandating distributed generation intensify pull for high-performance inverters, sustaining long-term momentum for the silicon carbide market.
Fast Adoption of SiC Ceramics in Extreme-Temperature Equipment
NASA’s SiC fiber-reinforced composites withstand 2,700°F in hypersonic testbeds, surpassing metal superalloys in damage tolerance[1]NASA, “SiC composites for hypersonic applications,” nasa.gov. SiC refractories from Saint-Gobain retain strength above 1,600 °C, enabling uniform heat profiles in industrial furnaces. Petrochemical reactors now specify SiC tubes that outlive steel by a factor of four under corrosive, high-temperature flows. Defense programs integrate SiC tiles into thermal protection systems for atmospheric re-entry vehicles, leveraging the material’s radiation hardness to ensure sensor survivability. These advances collectively expand downstream demand vectors within the silicon carbide market.
Government Incentives for Wide-Bandgap fabs
The U.S. CHIPS Act funneled USD 750 million to Wolfspeed and USD 225 million to Bosch, representing over 40% of the projected domestic SiC wafer capacity. Europe’s EUR 43 billion Chips Act seeks to double regional semiconductor share to 20% by 2030 and specifically backs SiC expansion through EUR 5 billion for STMicroelectronics’ Italian site. Trade-policy probes under Section 301 spotlight China’s wide-band-gap programs, nudging U.S. buyers toward North American sources. Rapid government funding compresses project timelines and intensifies capital flows into the silicon carbide market.
Restraint Impact Analysis
| Restraints | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Fluctuating Cost of Raw Materials | -1.8% | Global, particularly affecting Asia-Pacific producers | Short term (≤ 2 years) |
| Availability of Substitutes | -1.2% | Global, with higher impact in cost-sensitive applications | Medium term (2-4 years) |
| Tight Particulate-Emission Norms for SiC Grinding Plants | -0.8% | Global, with strongest impact in Europe and North America | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Fluctuating Cost of Raw Materials
Wafer inputs form 55–70% of the SiC device cost. The energy-intensive Acheson route runs above 2,000 °C and consumes 10.5–13 kWh per kg, so power-price spikes feed straight into cash costs. Russian-Ukrainian supply disruptions tightened feedstock availability in 2024, while Chinese environmental curbs periodically idle 70% of global silicon metal output. Upsizing to 200 mm crystals demands fresh furnaces and CVD reactors, adding capital strain. Pilot recycling flows from Susteon promise 75% CO₂ cuts and USD 10–20 per kg feedstock via methane pyrolysis, though commercialization sits years away.
Availability of Substitutes
Gallium nitride (GaN) excels below 650 V, operating above 1 MHz and dominating fast-charger sockets where footprint trumps thermal headroom[2]IEEE Spectrum, “GaN challenges SiC in power electronics,” ieee.org. Enhanced silicon solutions, super-junction MOSFETs, and reverse-conducting IGBTs retain a share in mid-voltage drives due to lower die cost. Gallium oxide prototypes now show 8 MV/cm breakdown, more than double SiC, but remain lab-bound. Application-driven segregation thus persists: GaN prioritizes high-frequency, low-volt nodes; SiC owns high-power, high-temperature space despite premium pricing, sustaining differentiation within the silicon carbide market
Segment Analysis
By Product Type: Green SiC Drives Innovation Despite Black SiC Dominance
Black SiC retained 42.18% of 2024 revenue due to its lower manufacturing costs and suitability for abrasives, refractories, and metallurgical additives. The silicon carbide market size for black grades benefits from large Acheson furnaces that achieve economies of scale. Green SiC, though smaller in volume, embodies the highest 13.51% CAGR as high-purity demand rises from power-device and quantum-photonic fabs. STMicroelectronics’ switch to 200 mm green-SiC wafers in Norrköping nearly doubles die output per slice, illustrating scale-up benefits.
Device makers pay premiums for green SiC because lower defect densities translate to higher chip yields and longer mean-time-to-failure in field service. As EV and renewable inverters proliferate, production learning curves are forecast to narrow the price gap versus black SiC, enlarging addressable revenue pools inside the silicon carbide market. Specialized metallurgical and ceramic variants serve petrochemical, aerospace, and defense niches that value oxidation resistance and thermal shock stability, supporting a robust product spectrum that cushions suppliers against single-segment volatility.
Note: Segment shares of all individual segments available upon report purchase
By Application: Automotive Acceleration Challenges Electronics Leadership
Electronics and semiconductors delivered 34.66% of 2024 revenue and remain core to the silicon carbide market share because discrete MOSFETs and diodes form the backbone of industrial power systems. The segment ranges from 600 V motor drives to 3.3 kV traction inverters, all benefiting from SiC’s lower switching losses. Automotive, fueled by global EV penetration, shows the fastest 12.62% CAGR and is forecast to capture rising slices of the silicon carbide market size by 2030.
Volkswagen’s multi-year pact with onsemi secures EliteSiC power boxes that scale across car classes, demonstrating OEM push for supplier assurance. Industrial furnace linings, wind-turbine rectifiers and aerospace power supplies continue to consume sizable SiC volumes, yet automotive ramp-ups catalyze unit-cost declines that flow back into these adjacent verticals, reinforcing virtuous demand cycles for the silicon carbide market.
Note: Segment shares of all individual segments available upon report purchase
Geography Analysis
Asia-Pacific accounted for 52.87% of global revenue in 2024 and expands at a 12.18% CAGR, sustained by 28 active Chinese wafer projects spanning Guangdong Tianyu Semiconductor and Hantian Technology. South Korean IDMs add SiC process nodes to serve Hyundai and Kia, while Taiwan’s foundry cluster offers flexible capacity to fabless chipmakers. India entered the silicon carbide market when RIR Power Electronics invested USD 620 million in Odisha, building the country’s first dedicated line.
North America benefits from USD 52.7 billion in CHIPS Act incentives that cover everything from crystal growth to module assembly. Wolfspeed’s North Carolina site will be the world’s largest SiC materials facility, and Bosch’s California fab readies 200 mm wafers for 2026 automotive programs. Tesla and GM anchor regional demand while Canada supplies high-purity quartz feedstock and Mexico evolves assembly clusters.
Europe advances through a EUR 43 billion (~USD 50.23 billion) Chips Act aimed at doubling the continental semiconductor share by 2030. Infineon augments Austrian front-end output with Malaysian back-end lines for cost efficiency, while Volkswagen, BMW, and Stellantis lock multi-year offtake contracts. Smaller Middle East and African markets import SiC devices for utility-scale solar farms and petrochemical heaters, relying on European and Asian OEMs for supply.
Competitive Landscape
The market is highly consolidated in nature. STMicroelectronics leverages vertical integration in Italy to control crystal, wafer, device, and module stages, while Infineon’s automotive pedigree secures design wins across German and Chinese OEMs. onsemi differentiates via the EliteSiC M3e portfolio that halves switching losses and underpins its USD 2 billion Czech expansion. Strategic thrusts center on 200 mm migration, vertical integration, and long-term automotive supply contracts. The impending quantum-computing wave, where SiC hosts room-temperature single-photon sources, offers white-space revenue for players that master material purity and defect control, widening opportunity horizons inside the silicon carbide market.
Silicon Carbide Industry Leaders
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Infineon Technologies AG
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Semiconductor Components Industries, LLC (onsemi)
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ROHM Co., Ltd.
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STMicroelectronics
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Wolfspeed, Inc.
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- November 2024: Stellantis and Infineon signed supply and capacity agreements covering CoolSiC devices for next-generation EV power modules.
- June 2023: STMicroelectronics and Sanan Optoelectronics announced a joint venture for high-volume 200 mm SiC device manufacturing.
Global Silicon Carbide Market Report Scope
Silicon carbide is a hard refractory material that is a synthetically produced crystalline compound of silicon and carbon. It has been an essential material for sandpapers, grinding wheels, and cutting tools. However, it has found applications in refractory linings and heating elements for industrial furnaces, in wear-resistant parts for pumps and rocket engines, and in semiconducting substrates for light-emitting diodes.
The silicon carbide market is segmented by product, application, and geography. By product, the market is segmented into green SiC and black SiC. By application, the market is segmented into steel manufacturing, energy, automotive, aerospace and defense, electronics and semiconductors, and other applications (manufacturing of cutting tools, etc.). The report also offers market size and forecasts for 27 countries across major regions. For all the above segments, market sizing and forecasts have been done based on revenue (USD).
| Black Silicon Carbide |
| Green Silicon Carbide |
| Other Products (Metallurgical-grade SiC, etc.) |
| Steel Manufacturing |
| Energy |
| Automotive |
| Aerospace and Defense |
| Electronics and Semiconductors |
| Other Applications (Industrial Manufacturing, Abrasives and Ceramics, etc.) |
| Asia-Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Thailand | |
| Indonesia | |
| Vietnam | |
| Malaysia | |
| Philippines | |
| Rest of Asia-Pacific | |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Russia | |
| NORDIC Countries | |
| Turkey | |
| Rest of Europe | |
| South America | Brazil |
| Argentina | |
| Colombia | |
| Rest of South America | |
| Middle-East and Africa | Saudi Arabia |
| United Arab Emirates | |
| Qatar | |
| South Africa | |
| Nigeria | |
| Egypt | |
| Rest of Middle-East and Africa |
| By Product Type | Black Silicon Carbide | |
| Green Silicon Carbide | ||
| Other Products (Metallurgical-grade SiC, etc.) | ||
| By Application | Steel Manufacturing | |
| Energy | ||
| Automotive | ||
| Aerospace and Defense | ||
| Electronics and Semiconductors | ||
| Other Applications (Industrial Manufacturing, Abrasives and Ceramics, etc.) | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Thailand | ||
| Indonesia | ||
| Vietnam | ||
| Malaysia | ||
| Philippines | ||
| Rest of Asia-Pacific | ||
| North America | United States | |
| Canada | ||
| Mexico | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
| NORDIC Countries | ||
| Turkey | ||
| Rest of Europe | ||
| South America | Brazil | |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| Middle-East and Africa | Saudi Arabia | |
| United Arab Emirates | ||
| Qatar | ||
| South Africa | ||
| Nigeria | ||
| Egypt | ||
| Rest of Middle-East and Africa | ||
Key Questions Answered in the Report
What is silicon carbide and why is it important for power electronics?
Silicon carbide is a wide-band-gap semiconductor that handles higher voltages, temperatures and switching frequencies than traditional silicon, making it ideal for electric vehicles, renewable-energy inverters and data-center power supplies.
How large is the silicon carbide market in 2025 and what is its growth outlook?
The market is valued at USD 4.82 billion in 2025 and is projected to reach USD 7.99 billion by 2030 at a 10.64% CAGR.
Which industries are driving demand for silicon carbide devices?
Electric vehicles, renewable-energy systems, data centers, aerospace platforms and industrial motor drives collectively account for the fastest growing use cases.
How are government incentives shaping regional silicon carbide manufacturing?
Programs such as the U.S. CHIPS Act, the European Chips Act and Japan’s METI subsidies are funding new wafer fabs and encouraging domestic supply chains, shifting capacity away from a purely Asia-Pacific concentration.
What advantages does silicon carbide offer over gallium nitride and advanced silicon devices?
It combines high breakdown voltage with excellent thermal conductivity, enabling efficient operation above 650 V where GaN is less cost-effective and silicon IGBTs suffer excessive switching losses.
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