Market Output Value of Silicon Carbide Will Reach $4.49 Billion in 2020

Recently, it is reported that the global market of silicon carbide is expected to reach $4.49 billion by 2020. Silicon carbide as deoxidizer will be promoted by the optimistic trend of iron and steel industry, which will promote the demand for silicon carbide.

Steel and energy industry are the largest terminal application field of silicon carbide. In 2013, the demand of these two industries for silicon carbide has accounted for up to 302000 tons. Especially in emerging countries, such as China and India, the infrastructure construction is pushing the demand of steel and energy, and prompting the demand growth of silicon carbide.

The global demand for silicon carbide has reached 1.0601 million tons in 2013, and the market demand for black silicon carbide is 745600 tons. It is expected that the global market demand for silicon carbide will grow at the rate of compound annual growth rate of 15.2% during the 2014-2010, and will reach 2.769 million tons in 2020.

Black silicon carbide is a dominant product, and because the advantage of its wide applications, the demand reached 7456 tons in 2013.

Asia Pacific is the largest regional market of silicon carbide, whose earning is more than $870 million in 2013. What’s more, their steel and automotive industries drive the market demand continue to increase. In addition, it is also the fastest-growing region and the compound annual growth rate that is expected will be of 16.8% between 2014 and 2020.