Silicon Carbide Market Size Is Expected To Reach USD 7.98 Billion By 2030
San Francisco, 7 June 2023: The Report Silicon Carbide Market Size, Share & Trends Analysis Report By Product (Black & Green), By Application (Steel, Automotive, Aerospace), By Region, And Segment Forecasts, 2023 - 2030 The global silicon carbide market size is expected to reach USD 7.98 billion by 2030, registering a CAGR of 11.7% according to a new report by Grand View Research, Inc. The rising prominence of silicon carbide in the production of Single-crystal SiC wafers is projected to aid the market growth over the forecast period. In the last few years, the consumption of single-crystal SiC wafers increased significantly, especially to manufacture electronic chips in the semiconductor industry. The increasing need to produce compact and right design electronic devices is projected to further push the product demand in the semiconductors industry. These single-crystal wafers offer limited power loss in the form of heat owing to the reduced leakage currents and wide-ban