SiC Semiconductors Driving $5 Billion Silicon Carbide Market by 2030
• Silicon carbide market projected to reach $5.24 billion by 2030, driven by expanding end-uses of SiC semiconductor devices • SiC poised for substantial increase in use due to high efficiency and performance in power electronics sectors like solar, wind, EVs • Electrical and electronics segment expected to see growth due to importance of SiC products in efficient electronic chips • Automobile segment to dominate market due to continued demand for abrasives-based products • Asia Pacific holds largest regional share, with major contributions from manufacturing powerhouses China, India, Japan, and South Korea