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Report ID: SQMIG25A2231
Report ID:
SQMIG25A2231 |
Region:
Global |
Published Date: April, 2024
Pages:
224
|
Tables:
65 |
Figures:
76
Global Silicon Carbide Ceramics Market size was valued at USD 3.30 billion in 2019 and is poised to grow from USD 3.69 Billion in 2023 to USD 8.93 Billion by 2024, growing at a CAGR of 11.7% in the forecast period (2024-2031).
The demand for high performance materials is the major driver for the global silicon carbide ceramics market. The automotive, aerospace, electronics, and electrical industries demand materials with superior characteristics such as high thermal conductivity, mechanical strength, and corrosion resistance. Silicon carbide ceramics meet these needs, making them acceptable in materials. Global emphasis on energy efficiency and sustainability is fueling the demand for silicon carbide ceramics. These products increase energy efficiency and reduce emissions in various industries such as power generation, industrial roads and transportation. Resistant to high temperatures and harsh environmental conditions, silicon carbide ceramics contribute to the efficiency and durability of energy-efficient systems. Complex manufacturing and raw material costs account for the high cost of silicon carbide ceramics production. This destabilizes market dynamics, especially in price-sensitive industries where cost-effectiveness is critical. Manufacturers face challenges in balancing productivity with the demand for high-performance products.
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Report ID: SQMIG25A2231