CVD Silicon Carbide Market Size, Share, Growth, and Industry Analysis by Type (High Resistivity Grade, Middle Resistivity Grade & Low Resistivity Grade), By Application (Rapid Thermal Process Components, Plasma Etch Components, Susceptors & Dummy Wafer, LED Wafer Carriers & Cover Plates & Others) & Regional Forecast to 2027

Updated On: 20 November 2023

cvd silicon carbide market REPORT OVERVIEW

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The global cvd silicon carbide market size is USD 367.8 million in 2020 and is expected to reach USD 603.8 million in 2027, exhibiting a CAGR of 6.9% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with cvd silicon carbide industry experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Silicon Carbide deposited chemically vapor deposited (CVD) A high-performance substance known for its remarkable qualities in several commercial and scientific applications is silicon carbide. It is a synthetic, man-made substance created using a unique manufacturing procedure. Atoms of silicon (Si) and carbon (C) make up its structure. SiC is its chemical composition. Alpha and beta phases are two of the many crystalline forms of silicon carbide, each with a distinct set of features. Chemical vapor deposition is used to create it.

In this approach, a substrate material (often silicon or another suitable material) is exposed to gaseous precursors in a high-temperature reactor. often, the precursors are a mixture of a silicon source gas (like silane, SiH4) and a carbon source gas (like methane, CH4). A solid silicon carbide layer is created as a result of the gas reactions on the substrate's surface. Because of its great thermal stability and ability to endure high temperatures, CVD is appropriate for usage in such situations.

COVID-19 Impact: Industry Shutdown Causes Market Distortion due to Unstable Market

For chemicals and advance materials, the COVID-19 outbreak resulted in issues like unstable markets, a decline in client confidence, and challenges with import and export business. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving commodities, chemicals, and other items has become challenging due to lockdowns. It had a financial impact on the markets for material in addition to having an immediate impact on markets, supply chains, supply and demand, and all of these other things. Producers of chemicals are focusing on protecting their workforce, operations, and supply networks in order to handle this urgent situation. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall chemicals and advanced materials industry. This has partially impacted the cvd silicon carbide industry. 

LATEST TRENDS

"Semiconductor Industry to Boost the Market Growth "

The increased demand for CVD Silicon Carbide in the semiconductor industry was indeed a significant trend. In the semiconductor industry, CVD's superior thermal conductivity and resilience to high temperatures make it valuable. It can be utilized in wafer carriers and susceptors, two pieces of semiconductor processing machinery that require precise temperature control. It provides extremely pure material with superb chemical inertness. In order to maintain the purity and quality of semiconductor wafers, contamination during semiconductor fabrication procedures must be prevented. Due to its favorable thermal and electrical characteristics, CVD was also employed in the fabrication of LEDs, notably gallium nitride (GaN) LEDs, where it functioned as a substrate. Thus, a key trend that is opening up potential for the industry to grow is the increased demand in semiconductor industry. These new developments are mostly to blame for the market's overall growth.

cvd silicon carbide market SEGMENTATION

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• By Types 

Based on type, the market is classified into High Resistivity Grade, Middle Resistivity Grade & Low Resistivity Grade.

• By Application

Based on the market is categorized into Rapid Thermal Process Components, Plasma Etch Components, Susceptors & Dummy Wafer, LED Wafer Carriers & Cover Plates & Others.

DRIVING FACTORS

"Power Electronics to Give the Market Extra Boost"

Power electronics applications have been a significant driver for the adoption of CVD Silicon Carbide in the market. Given that it has a wider bandgap than conventional silicon-based semiconductors, it can function at greater temperatures and voltages. For applications involving power electronics, this quality is essential. As a result of its superior thermal conductivity, it effectively dissipates heat produced by power electronic devices. This is necessary to keep power module performance and dependability high. In comparison to conventional silicon devices, SiC-based power electronic components like SiC MOSFETs and diodes have lower conduction and switching losses. As a result, the growth, and the growth and increase in power electronics will boost the industry. It will contribute to the expansion of the chemicals & advanced materials industry and it will improve the cvd silicon carbide market growth.

"Lighting Industry to Encourage Market Expansion"

The factor boosting the market is lighting industries. Gallium nitride (GaN) LEDs are made using a substrate called CVD. GaN LEDs are renowned for being extremely bright and efficient. In order to guarantee the performance of these LEDs, the substrate material must be carefully chosen, and CVD's characteristics make it a perfect fit for this use. During operation, LEDs can produce heat, which may have an impact on both their performance and longevity. Due to the great thermal conductivity of CVD Silicon Carbide, heat is efficiently dissipated, preserving the LEDs' reliability and brightness over time. The manufacture of precise optical components utilized in high-performance lighting systems is a good fit for CVD optical qualities. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, above mentioned factors will help the market to boost.

RESTRAINING FACTOR

"High Cost to Impede Market Expansion"

The market is being hampered by excessive costs. Due to the intricate and energy-consuming chemical vapor deposition process, CVD production can be costly. Its widespread use may be hampered by high production costs, particularly in price-sensitive regions. This factor is impeding market expansion. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

cvd silicon carbide market REGIONAL INSIGHTS

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"North America to Dominate the Market due to Increased Demand"

North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the CVD silicon carbide market share is the growing demand of product in the rapid thermal process components, plasma etch components, susceptors & dummy wafer, LED wafer carriers & cover plates is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• Modern Advanced Materials (U.S.)
• Ferrotec (U.S.)
• CoorsTek (U.S.)
• AGC (Japan)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost cvd silicon carbide market. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.