Global Demand for Silicon Carbide Expected to Reach 2,769,000 Tons

According to Grand View Research, global sales revenue for silicon carbide is expected to reach $4,490,000,000. As a kind of deoxidizer, silicon carbide is used in steel processing, the prosperity of which will undoubted facilitate global demand for silicon carbide. Besides that, silicon carbide is also the basilicon carbide material for semiconductor industry that is expected to witness an obvious rise in the coming six years. Another factor that boosts the consumption demand for silicon carbide is the recovery of the auto industry, especially in Asia-Pacific regions.

According to statistics, total consumption of silicon carbide in 2013 was 302,000 tons, steel and energy being the biggest end consumption fields. In China and India, infrastructure drives the demand for steel and energy that will witness a strong growth in the days to come. silicon carbide is also widely used in electronics and semiconductor industry. The total demand for silicon carbide in 2013 was 255,000 tons.

Further research indicates that global demand for silicon carbide in 2013 was 1,060,100 tons, and the figure is expected to reach 27,690,000 tons in 2020. CAGR from 2014 to 2020 will probably be 15.2%. Compared with other silicon carbide products, black silicon carbide is the most popular products. In 2013, global demand for black silicon carbide was approximately 7,456,000 tons. Some of popular black silicon carbide manufacturers include Henan Yuxin Abrasives Co., Ltd. and Qinyang Sanhui Refractory Material Co., Ltd.

Asia is the largest regional market for silicon carbide. In 2013, the sales revenue was over $870,000,000. Important end users, such as steel and auto industries, will boost local consumption. With a rising demand for advanced medicine and health products, the demand for silicon carbide in China and Japan will increase accordingly.

Author: Liwei Chu
Copyright: iAbrasive.com--Abrasives & Diamond Tools Market