Silicon Carbide Fine Powder Market Size, Share & Trends Analysis Report By Grade (Metallurgical Grade, Refractory Grade), By Application (Abrasives, Refractory Materials), By Region, And Segment Forecasts, 2024 - 2030

Silicon Carbide Fine Powder Market Trends

The global silicon carbide fine powder market size was estimated at USD 793.0 million in 2023 and is projected to grow at a CAGR of 11.1% from 2024 to 2030. This growth is attributed to its rising adoption of advanced semiconductor technologies. Silicon carbide's superior thermal conductivity, high breakdown voltage, and ability to handle higher power densities make it preferable for use in power electronics. In addition, with the rapid expansion of electric vehicles (EVs), renewable energy systems, and high-performance electronics, the SiC fine powder is becoming essential for producing high-efficiency power devices such as MOSFETs and diodes, thereby fueling its market growth.

Moreover, the growing focus on energy efficiency and sustainability across industries is expected to drive the demand for SiC fine powder in areas like solar power generation, smart grids, and industrial motor drives. These applications require materials that can operate under extreme conditions, which SiC fine powder provides with excellent mechanical and thermal properties. Furthermore, SiC is being increasingly utilized in advanced 3D printing and additive manufacturing processes for ceramics and composites, further expanding its consumption across high-tech sectors.

The Silicon Carbide Fine Powder industry is extremely competitive in nature and characterized by the presence of several regional and international players. Prominent players are focusing on several strategic initiatives, including expanding production capacity, investing in research and development, and forming strategic partnerships. Companies like Wolfspeed, Inc. are increasing their manufacturing capabilities to meet the rising demand from sectors such as electric vehicles and renewable energy. Simultaneously, they are innovating to enhance the purity and performance of their SiC products, which can provide a competitive edge. In addition, players are engaging in mergers and acquisitions to consolidate their positions and leverage complementary technologies, ensuring they can provide comprehensive offerings that include not just SiC powders but also integrated solutions for various applications.

Grade Insights

Metallurgical grade dominated the market with a revenue share of 49.9% in 2023 and is further expected to grow at a significant rate over the forecast period. This is due to its critical role in the steelmaking process and its applications in foundries and metal casting. With industries focusing on enhancing production efficiency and reducing carbon emissions, SiC is increasingly favored for its ability to improve the quality of molten metal, acting as a deoxidizing agent and increasing the overall performance of the final product. Moreover, the expanding automotive and construction sectors, which rely heavily on steel and other alloys, are further expected to drive the demand for metallurgical-grade SiC.

The demand for refractory grade is expected to grow at a significant rate over the period of 2024-2030. The market for refractory grade silicon carbide fine powder is anticipated to grow significantly due to its excellent thermal stability and resistance to wear and corrosion, making it an ideal material for high-temperature applications. Industries such as steel, glass, and ceramics seek materials that can withstand extreme conditions, which is likely to boost the demand for refractory-grade SiC in the coming years.

Application Insights

In terms of application, the market is segmented into abrasives, refractory materials, and ceramic materials segments. Abrasives accounted for the largest revenue share of 27.6% in 2023. This growth is driven by its exceptional sharpness, hardness, and durability, which make it an ideal material for cutting, grinding, and polishing various materials. Industries, including automotive, construction, and metalworking are increasingly utilizing SiC for manufacturing grinding wheels, sandpapers, and other abrasive tools. The rising demand for high-performance materials that can efficiently process harder substrates is anticipated to drive the need for SiC abrasives. Moreover, as manufacturing processes become more precise and automated, the requirement for reliable and efficient abrasives is further predicted to bolster the growth of the market for silicon carbide fine powder in these applications.

Refractory applications are anticipated to grow at a significant rate over the forecast period. The demand for the product in refractory applications is anticipated to increase due to its excellent thermal conductivity, high-temperature stability, and resistance to chemical corrosion. These properties make SiC a preferred choice for various high-temperature industrial processes, such as in steel and glass manufacturing, where materials are subjected to extreme heat and abrasive conditions. These factors are anticipated to fuel its demand in the coming years.

Regional Insights

The silicon carbide fine powder market in North America accounted for a revenue share of 23.5% in 2023. The presence of advanced manufacturing sectors across the region and significant investments in research and development are boosting growth in SiC applications. Moreover, the North American semiconductor industry is expanding, creating a strong demand for SiC fine powder in high-performance devices. Collaborative efforts among tech firms, government agencies, and academia to enhance semiconductor capabilities will contribute to the increasing demand for SiC materials across the region.

U.S. Silicon Carbide Fine Powder Market Trends

The silicon carbide fine powder market in the U.S. is anticipated to grow at a CAGR of 11.5% over the forecast period. The country’s robust push toward electric vehicles (EVs) and renewable energy solutions is expected to fuel the demand for the product over the forecast period. Prominent automakers are increasingly shifting their production to EVs, which has increased the need for efficient power electronics—where SiC is essential for improving battery performance and reducing charging times. This is expected to fuel the product’s demand in the coming years.

Europe Silicon Carbide Fine Powder Market Trends

Europe silicon carbide fine powder market is anticipated to grow at a CAGR of 10.6% from 2024-2030. The market is driven by stringent environmental regulations and the EU’s commitment to reducing carbon emissions. The European automotive industry is rapidly transitioning to electrification, necessitating advanced materials like SiC for efficient power management in EVs. In addition, Europe's emphasis on renewable energy generation, particularly wind and solar, increases the need for high-performance electronics that utilize SiC. Initiatives, including the European Green Deal, are likely to further stimulate investments in sustainable technologies, bolstering demand for SiC in various applications.

Asia Pacific Silicon Carbide Fine Powder Market Trends

The silicon carbide fine powder market in Asia Pacific is expected to grow at the fastest CAGR over the forecast period. Rapid industrialization and technological advancements in countries like China, Japan, and South Korea is likely to boost the demand for the product. The region’s booming electronics and automotive sectors are increasingly adopting SiC for power devices, driven by the rise of EVs and the demand for energy-efficient technologies. Moreover, significant investments in renewable energy infrastructure and initiatives to enhance semiconductor manufacturing capabilities are likely to propel the market forward.

Key Silicon Carbide Fine Powder Company Insights

Some of the key players operating in the market include Wolfspeed, Inc. and Washington Mills.

• Wolfspeed, Inc. was established in 1987 and is headquartered in North Carolina. The company focuses on silicon carbide (SiC) and gallium nitride (GaN) technologies, providing high-performance solutions for power and radio frequency (RF) applications serving automotive, energy, telecommunications, and industrial sectors. Its product portfolio includes silicon carbide, gallium nitride, power modules, and SiC materials..

• Washington Mills was established in 1868 and is involved in the manufacturing of abrasive grains, powders, and specialty materials used in a variety of industries, including automotive, aerospace, electronics, and refractory. Its product portfolio includes aluminum oxide, silicon carbide, boron carbide, and zirconia, among several other specialty abrasives.

Carborundum Universal Limited and Snam Abrasives Pvt. Ltd. are some of the emerging participants in the market.

• Carborundum Universal Limited is part of Murugappa Group and manufactures industrial abrasives, ceramics, refractories, and electro-mineral products. The company serves various industries, such as automotive, aerospace, steel, construction, and electronics, in around 40 countries. The product portfolio of the company is bifurcated into abrasives, ceramics, refractories, and electrominerals.

• Snam Abrasives Pvt. Ltd. was established in 1985 in India. It is a manufacturer of silicon carbide-based abrasives and ceramic materials for a variety of industrial applications. Its products are used in metalworking, automotive, construction, and electronics industries. Furthermore, the product portfolio includes silicon carbide abrasives, bonded abrasives, coated abrasives, and super abrasives.

Recent Developments

• In September 2024, Carborundum Universal acquired a 100% stake from Silicon Carbide Products, Inc. USA (SCP) at a value of USD 6.6 million. This acquisition will help the company establish a wholly-owned subsidiary in the U.S. and strengthen its presence in the silicon carbide sector.

Silicon Carbide Fine Powder Market Report Scope

Global Silicon Carbide Fine Powder Market Report Segmentation

This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the global silicon carbide fine powder market report based on grade, application, and region:

• Grade Outlook (Revenue, USD Million, 2018 - 2030)

  • Metallurgical Grade

  • Refractory Grade

  • Abrasive Grade

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Abrasives

  • Refractory Materials

  • Ceramic Materials

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa