Stratview Research has launched a new report, titled The Ultra High Purity Silicon Carbide Market is segmented by Application Type (Semiconductor, LEDs, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World)

Covid-19 Impact Analysis:

Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.

According to the report, Ultra High Purity Silicon Carbide Market is likely to witness an impressive CAGR of 15.2% during the forecast period. Surge in demand for ultra high purity silicon from the semiconductor industry coupled with increasing use of quantum computing, artificial intelligence, and 5G technology is the major factor expected to fuel the growth of the market during the forecast period. Furthermore, the product is highly utilized in the manufacturing of semiconductor devices as it offers plethora of advantages including high thermal conductivity, low defect density, high resistivity, and uniform electric behavior, thereby assisting the growth of the market over the forecast period.

Market Segments’ Analysis

Based on the application type, the market is segmented as semiconductor, LEDs, and others. The semiconductor application type segment ruled the market in 2021, and is estimated to maintain its irrefutable lead during the forecast period as well. The growth of the segment is on account of the excellent properties offered by the product, which include high corrosion resistance, strength, temperature, frequency, and purity. These properties make the product suitable for next-generation power devices, such as power converters of hybrid and electric vehicles, high voltage switches, power inverters for air conditioners & industrial equipment, DC/AC converters for wind and solar power, and thin-film coatings.

In terms of regions, in 2021, Asia-Pacific accounted for the largest volumetric share of 48.0% of the ultra high purity silicon carbide market. The region is estimated to maintain its incontestable lead during the forecast period as well. The growth of the region’s market is driven by the growing demand from the electronics and subsequently, semiconductor industries. Furthermore, countries including South Korea, Taiwan, Japan, and China, which are among the top 10 producers of semiconductors in the world, drive the growth of the regional market. The Asia-Pacific region alone represented over 45% of the share in the global semiconductor production. Besides, the continuous rise in the production of consumer electronics, industrial electronics, computer hardware, mobile phones, electronic component, and LEDs in the region is likely to generate more demand for the product in the regional market over the forecast period.

Key Players

The following are the key players in the Ultra High Purity Silicon Carbide Market

  • Washington Mills
  • CoorsTek Inc.
  • JJISCO Inc.
  • Pacific Rundum Co., Ltd.
  • American Elements
  • LG Innotek.

Frequently Asked Questions –

This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:

  • What is the current and future market size of Ultra High Purity Silicon Carbide Market?
  • How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
  • What will be the short and long-term effects of the pandemic?
  • How are other market factors affecting the market dynamics?
  • Which segments offer high-growth opportunities in the long run?
  • How fierce is the Ultra High Purity Silicon Carbide Market competition?
  • What are the key emerging trends and unmet needs in the present market?
  • What are the strategic growth opportunities and key success factors?

Read the full report:

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