United States SiC Ingots Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 4.1% from 2023 to 2033
• The U.S. SiC Ingots Market Size is Expected to Hold a Significant Share by 2033

The US SiC Ingots Market is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 4.1% from 2023 to 2033.

Market Overview

Silicon carbide ingots are big, single-crystal, or multi-crystal blocks of silicon carbide (SiC) created by different high-temperature methods. These blocks are used as the starting materials for making semiconductor devices and parts like power electronics, high-frequency devices, and light-emitting diodes (LEDs). Silicon carbide possesses exceptional qualities such as high thermal conductivity, electric field breakdown strength, and resistance to high temperatures and radiation, which make it extremely valuable in a variety of high-performance applications. The ingots are cut into thin wafers, then manufactured and transformed into electronic parts. Additionally, sic boasts better thermal conductivity than silicon, enabling effective heat dissipation in high-power and high-temperature scenarios. SiC is able to endure increased electric fields without breaking down, making it possible to create devices that function at elevated voltages and power levels. These devices are capable of functioning at significantly higher temperatures than silicon, which allows them to be used in extreme conditions and decreases the reliance on cooling systems, leading to increased revenue for the silicon carbide ingot market.

Report Coverage

This research report categorizes the market for the US SiC ingots market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States SiC ingots market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the U.S. SiC ingots market.

Driving Factors

The increasing popularity of Electric Vehicles (EVs) is greatly fueling the need for silicon carbide (SiC) technology. SiC semiconductors have numerous benefits that meet the requirements of contemporary electric vehicles, establishing them as an essential part of this expanding industry. SiC semiconductors are recognized for their higher efficiency in comparison to conventional silicon-based components. SiC devices in electric vehicles enhance the power inverters and converters' efficiency, which play a crucial role in regulating the power transfer from the battery to the electric motor. This improved effectiveness results in superior vehicle performance and extended driving distance.

Restraining Factors

The main reason for the high cost of SiC devices is the pricey SiC substrate, which is much more expensive than silicon wafers. The SiC production process necessitates a significant amount of energy for achieving high temperatures, resulting in final boules that are no more than 25 mm long and have longer growth periods.

Market Segmentation

The US SiC ingots market share is classified into application and material type

• The sic module segment is expected to hold a significant market share through the forecast period.

The United States SiC ingots market is segmented, by device into sic discrete device, and sic module. Among these, the sic module segment is expected to hold a significant market share through the forecast period. SiC power modules use silicon carbide as a switching material, providing efficient power conversion with lower heat loss, essential for industrial, automotive, and power & energy industries. SiC modules are favored over silicon-based devices because of the wide bandgap of SiC, which allows for low switching losses and high frequencies, as well as the capability to function at high temperatures and voltages for applications in automotive, industrial, and energy & power sectors.

• The automotive segment is expected to dominate the US SiC ingots market during the projected period.

Based on the application, the United States SiC ingots market is divided into automotive, energy & power, industrial, and transportation. Among these, the automotive segment is expected to dominate the US SiC ingots market during the projected period. Silicon carbide (SiC) is crucial for efficient power electronics in electric and hybrid vehicles. It is perfect for electric vehicle powertrains and charging systems due to its excellent thermal conductivity and high-voltage capabilities.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States SiC ingots market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 3M Company
• AGSCO Corporation
• Carborundum Universal Limited
• Dow Chemical Company
• ESD-SIC b.v.
• Fujimi Corporation
• Gaddis Engineered Materials
• Grindwell Norton Limited
• Norstel AB.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2024, Onsemi decides to establish a full silicon carbide production plant for advanced power semiconductors in the Czech Republic. The website manufactures the firm's intelligent power semiconductors, important for enhancing energy efficiency in electric cars, clean energy, and AI data center uses.

Market Segment

This study forecasts revenue at U.S., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United States SiC Ingots Market based on the below-mentioned segments:

United States SiC Ingots Market, By Device

• SiC Discrete Device
• SiC Module

United States SiC Ingots Market, By Application

• Automotive
• Energy & Power
• Industrial
• Transportation