Silicon Carbide Coating Market Dynamics, Revenue and Forecast By 2031

Silicon Carbide Coating: Introduction

Silicon carbide is a compound of silicon and carbon with chemical formula SiC. It has high corrosion and heat resistance properties as well as excellent thermal conductivity. SiC coated graphite is widely used in high-temperature/high-voltage semiconductor electronics.
Silicon carbide is primarily used in high temperature applications. Silicon carbide is anticipated to be used as a semiconductor in the near future in various semiconductor electronics devices. Hence, growth of semiconductor and electronics industries is estimated to drive the silicon carbide market throughout the forecast period.
Demand for silicon carbide is high in health care treatments. It is used for radiations in several detectors. Rise in demand for silicon carbide in the health care sector is expected to fuel the market during the forecast period.
Growth of the global automotive industry is creating lucrative opportunities for the silicon carbide market. Silicon carbide is likely to eventually replace pure silicon due to the increase in substitution of pure silicon technology. Therefore, consumption of silicon carbide is expected to increase in the near future.

The silicon carbide coating market can be segmented based on type, application, and region
Based on type, the silicon carbide coating market can be divided into PVD, CVD, and thermal spray
In terms of application, the global silicon carbide coating market can be classified into automotive, aerospace & defense, electrical & electronics, medical & health care, and others

The COVID-19 pandemic has impacted a large number of countries across the globe. Various measures introduced to deal with the pandemic such as lockdowns, halt in trade activities, temporary closure of various factories and workplaces in several countries could save lives. However, these measures carry wide-ranging economic effects that can induce an economic contagion.
Shortage in supply of raw materials from various manufacturers of silicon carbide coating around the globe has resulted in a severe demand-supply gap. Manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to the lockdown amid COVID-19.
Enactment of lockdowns in various countries across the globe prohibited import of various components including additives and other raw materials. This has hampered the silicon carbide coating market.

In terms of geography, the global silicon carbide coating market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
China, India, and Japan lead the silicon carbide coating market in Asia Pacific due to the increase in demand for electronics products in these countries
North America is an emerging region of the global silicon carbide coating market. Increase in population, changing lifestyle, and improvement in disposable income are driving the silicon carbide coating market in the region.
The silicon carbide coating market in Europe, particularly in countries such as the U.K., Germany, and France, has been expanding significantly due to rapid industrialization. The processing of silicon carbide coating mainly takes place in Germany and France. Norway and the Netherlands are also expected to contribute significantly to the silicon carbide coating market in Europe. Growth of the silicon carbide coating market in Europe can be ascribed to favorable government policies in the region.
Demand for silicon carbide coating is expected to increase in Latin America and Middle East & Africa in the near future, led by growth in standard of living of the people in these regions