Global Carborundum Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Carborundum Market Report Overview:

“The global carborundum market size is expected to be worth around US$ 234.5 million by 2021 from US$ 141.2 million in 2031, growing at a CAGR of 5.19% during the forecast period 2021 to 2031.”

The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.

The report offers insightful and detailed information regarding the various key players operating in the carborundum market, their financials, supply chain trends, products and related technological innovations, key developments, apart from current and future strategies, acquisitions & mergers, and market footprint.

The global carborundum market report has been segmented on the basis of type, end-user, and region. This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various reliable sources.

Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make more accurate and informed forecasts about the market scenario in future.

Carborundum, also known as silicon carbide (SiC), is a unique compound containing silicon and carbon. It is one of the hardest materials available and occurs naturally as the rare mineral moissanite.

SiC is a stable and chemically inert compound found as a bluish-black, iridescent crystalline solid, owing to small amounts of iron or other impurities from the industrial production.

It has high thermal conductivity, high-temperature strength, low thermal expansion, and is resistant to chemical reactions.

Primary factors driving growth of the global carborundum market is its wide use as an abrasive to make various materials such as sandpapers, grinding wheels, cutting tools, hard ceramics, refractory linings, high temperature bricks, heating elements, wear-resistant parts for pumps, rocket engines, and even jewelry.

It is also an important material in electronics industry, used for making light-emitting diodes (LEDs) and semiconductors, which is expected to fuel growth of the global carborundum market significantly in the coming years.

In addition, the growing environmental concerns, owing to air pollution from automobiles and advancements in technology for alternate energy sources are also expected to drive demand for SiC-based automotive inverters in the automobile industry for the development of electric vehicles and hybrid electric vehicles, thus projected to drive the growth of the global carborundum market over the forecast period.

Major factors restraining growth of the target market are high cost of the mineral and high production cost. SiC dust and fibers formed during production are harmful for individuals and can cause irritation to the skin, eyes, and different problems in the lungs and respiratory system, which can challenge the growth of the target market.

Major trend observed in the market is the growing popularity of silicon carbide-based photovoltaic cells in developing and emerging economies, which is expected to fuel growth of the target market.

The Asia Pacific is the dominant regional market, accounting for the highest share in the global carborundum market in terms of revenue, and is expected to maintain its dominance over the forecast period.

This is attributed to growth in the steel and energy industry in the region. Also, the growing electronics and semiconductors industries is expected to have a positive impact in the Asia Pacific region.

North America is anticipated to register a significant growth on account of its growing medical and healthcare industry increasing growth of target market. Growing the military and defense industry in the US will also complement the market growth in the region.

The market in Latin America and Middle East & Africa are expected to register a moderate growth over the forecast period.

Global Carborundum Market Segmentation:

Segmentation by type:

• Black SiC
• Green SiC
• Others (coated, metallurgical briquettes, micro grit, etc.)

Segmentation by end-user:

• Electronics & semiconductors
• Steel & energy
• Aerospace & aviation
• Automotives
• Others (Medical and healthcare, Military & defense, IT and Telecommunication)

Segmentation by region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa