San Francisco, California (PRWEB) September 02, 2014
The global market for silicon carbide is expected to reach USD 4.49 billion by 2020, according to a new study by Grand View Research, Inc. Positive outlook for steel manufacturing, for which SiC is used as a deoxidizing agent is expected to drive silicon carbide demand. In addition, silicon carbide is an essential element in the manufacturing of semiconductors which is expected to witness significant growth over the next six years. Revitalizing automobile industry, especially in Asia Pacific, is also expected to boost the demand for silicon carbide.
Steel and energy were the largest end use application segments for SiC, accounting for 302 kilo tons of total demand in 2013. Increasing demand for steel and energy in emerging markets of India and China, driven by infrastructure development, is expected to be a key factor for demand growth over the forecast period. Silicon carbide is also extensively used in electronics and semiconductor applications, owing to its superior properties, that accounted for over 255 kilotons of demand in 2013.
The report “Silicon Carbide Market Analysis, By Product (Black Silicon Carbide, Green Silicon Carbide) By End-use (Steel & Energy, Automotive, Aerospace & Aviation, Military & Defense, Medical & Healthcare, Electronics & Semiconductors) And Segment Forecasts To 2020” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/silicon-carbide-market
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global silicon carbide market on the basis of product, end use application and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
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