Carborundum Market Overview
The Carborundum Market Share is expected to reach to over USD 6.6 billion by end of 2030.
Key Drivers and Main Challenges
Carborundum or silicon carbide (SiC), is a compound that contains carbon and silicon and is a hard material that is found naturally. It is a stable, chemically inert compound that is found as iridescent bluish black crystalline solid, due to tiny amounts of iron or various impurities from industrial production. It has significant thermal conductivity, low thermal expansion, high-temperature strength, and protects against chemical reactions.
The market will benefit from the widespread use of carborundum as an abrasive to prepare numerous materials like grinding wheels, sandpapers, hard ceramics, cutting tools, heating elements, high-temperature bricks, refractory linings, wear-resistant components of rocket engines, jewelry and pumps. Carborundum is also an essential component in the electronics industry, utilized for developing light-emitting diodes (LEDs) as well as semiconductors, which will further enhance the market size. Additionally, the surge in environmental concerns, due to carbon emissions from automobiles and the advances in technology pertaining to alternate energy sources will elevate the demand for SiC-based automotive inverters in the automobile sector and in the development of hybrid electric vehicles and electric vehicle.
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Strategic collaborations and partnerships by the reputed companies act in favor of the carborundum market. Many of the companies in the global market focused primarily on collaborations and partnerships to elevate efficiency, expand value propositions, extend growth in emerging areas and save costs. For instance, in November 2021, Qorvo, a semiconductor vendor, acquired UnitedSiC, a silicon carbide power semiconductor developer. The deal helped expand Qorvo's position in the fast-emerging areas such as electric vehicles (EVs), circuit protection, industrial power, data center power, and renewables.
Segmental Analysis
The carborundum industry can be considered for type, as well as application.
Different types of carborundum are green SiC, black SiC, coated SiC, metallurgical SiC, refractory SiC, and micro grit SiC.
Major applications of carborundum are electronics semiconductors, steel energy, aerospace defense, automotive, fabrication, medical, and more.
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Regional Insight
Asia Pacific has gained the highest share of the global market for carborundum, thanks to the notable growth of the steel and iron sector in developing countries like Japan, India, and China. In addition to this, the rapid expansion of the industrial base in Asia Pacific fosters the market value to a large extent. The rapid expansion rate of the semiconductors and electronics industry in line with the surging use of several electronic devices raises the demand for carborundum as well. the rising automobile production as well as the soaring aerospace defense sector in the region backed by large-scale expenditure by the government for defense equipment propels the market growth too.
The North American market will perform exceedingly well in the near future, given the striking growth in the steel production owing to the huge demand from end-use industries like construction, automotive, aerospace defense, and electronics. Additionally, the presence of a thriving aerospace defense industry paired with the heightened use of semiconductors and several electronic devices in automobiles, pharmaceuticals and telecommunications also act in favor of the regional market.
Top Market Contenders
Snam Abrasives Pvt. Ltd (India), KYOCERA Corporation (Japan), Gaddis Mechanical Seals (US), Norstel AB (Sweden), ESD-SIC BV (Netherlands), Carborundum Universal Ltd (India), Imerys Graphite Carbon (Switzerland), ESK-SIC GmbH (Germany), AGSCO Corp (US), Entegris Inc. (US), and Xiamen Powerway Advanced Material Company Limited (China), Saint Gobain Ceramics Materials GmbH (France) are the leading carborundum developers active in the worldwide market.
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