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Silicon Carbide Market Share, Size,Analysis, Price, Outlook and
Forecasts to 2020 | Hexa Research
“ Hexa Research observes that these factors will contribute to the global
silicon carbide market growing strongly at a CAGR of 15% from 2014 to 2020.”
30 November 2018
Silicon Carbide is a synthetically manufactured chemical compound of silicon and carbon. It is strong,
oxidation resistant, thermal shock resistant, and chemical resistant. It is characterized by low density, low
thermal expansion and high temperature strength. Hexa Research observes that these factors will contribute
to the global silicon carbide market growing strongly at a CAGR of 15% from 2014 to 2020.
Silicon carbide’s applications include aerospace & aviation, electronics & semiconductors, steel & energy,
military & defense and medicine & healthcare. Steel and energy, with a total demand of more than 300 kilo
tons, was the largest application area in 2013. Silicon carbide is used as a deoxidizing agent in steel
manufacture. It is also a manufacturing component for semiconductors. Pure silicon conductors are
increasingly being replaced by silicon carbide semiconductors. Hexa Research opines that growing market for
steel and semiconductors will prove favorable for future demand of silicon carbide. The revival of automobile
industry, especially in Asia Pacific countries like China, will also boost demand. Silicon Carbide is used as an
oil additive in automobiles. Medical and Healthcare application segments will grow rapidly at a CAGR of
16.4% from 2014 to 2020. Key market growth inhibitors include high manufacturing costs and low tolerance
levels.
Browse Details of Report @ https://www.hexaresearch.com/research-report/silicon-carbide-industry
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