Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 26.6 Million | USD 92.8 Million | 14.9% | 2021 |
FrequentlyAsked Questions
The increasing demand for renewable energy sources for power generation is the main factor driving the global market for ultra-high purity silicon carbide. As ultra-high purity silicon carbide removes impurities and contaminants to improve semiconductor performance, increased semiconductor production is also fueling market expansion.
According to the report, the global ultra high purity silicon carbide market size was worth around USD 26.6 million in 2021 and is predicted to grow to around USD 92.8 million by 2030 with a compound annual growth rate (CAGR) of roughly 14.9% between 2022 and 2030.
The global ultra high purity silicon carbide market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market owing to the growing demand for consumer electronics.
The global ultra high purity silicon carbide market is dominated by players like LG Innotek, American Elements, Pacific Rundum Co., Ltd., JJISCO Inc., CoorsTek Inc., Washington Mills, JJISCO, Ferrotec Corporation, Nanoshel LLC, Polycrystal, Bridgestone Corporation, and AGC Inc., among others.
The ceramic material known as ultra-high purity silicon carbide (SiC) is distinguished by its very high level of purity as well as its high level of strength when subjected to high temperatures. A material that is exceptionally resistant to corrosion, wear, and chemical attack can be produced by mixing silicon and carbon at extremely high temperatures. This process yields a substance that is known as silicon carbide. Very high levels of purity Cutting tools, sophisticated semiconductors, and high-performance ceramic components are just some of the many examples of high-tech applications that make use of silicon carbide, or SiC. Because of its great strength and exceptional thermal conductivity, it is an excellent choice as a material for use in conditions that are both high in temperature and high in stress. One of the most significant benefits of ultra high purity SiC is that, due to its high level of purity, it is highly resistant to the contamination and impurities that may be found in other materials. Because of this, it is an excellent choice for usage in applications that are particularly sensitive, such as the production of semiconductors, because even trace levels of contamination can result in flaws and a reduction in performance.
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