Silicon Carbide Material Market Size, Share, Growth, Trends, and Global Industry Analysis: By Device (SiC Discrete Device, SiC Bare Die, and Others), By Technology (Reactive Synthesis, Chemical Vapor Deposition, Physical Vapor Deposition, Sintering Process, and Others), By Application (Power Grid Devices, Flexible AC Transmission System, High-Voltage Direct Current System, Power Supplies and Inverter, RF Devices & Cellular Base Station, Lighting Control System, EV Charging Station, and Others), By End-Use Industry (Automotive, Electronics and Telecommunication, Renewable Energy, Aerospace and Defense, and Manufacturing and Industrial), and Region Forecast 2020-2031

Silicon Carbide Material Market size was valued at US$ 4,744.7 million in 2024 and is expected to reach US$ 8,184.5 million by 2031, growing at a significant CAGR of 8.1% from 2025-2031. Moreover, the U.S. market is projected to grow significantly, reaching an estimated value of US$ 2,553.6 Million by 2031.

The global silicon carbide (SiC) material market encompasses the development, production, and utilization of silicon carbide, a compound of silicon and carbon distinguished by its exceptional hardness, thermal and chemical stability, and superior electronic properties. The global silicon carbide (SiC) material market is being primarily driven by the accelerating demand for high-efficiency power electronics in electric vehicles (EVs). SiC’s superior thermal conductivity, wide bandgap, and high-voltage tolerance make it essential for EV inverters, onboard chargers, and battery systems, enabling faster charging, reduced weight, and longer range. This surge in EV adoption is also supported by green energy policies and carbon reduction mandates worldwide. A parallel trend is the rising use of SiC in solar inverters, industrial drives, and 5G infrastructure, with vertical integration and the transition to 8-inch wafers boosting manufacturing scalability and supply chain control.

Opportunities lie in the rapid electrification of vehicles and renewable energy expansion, where SiC enables lighter, more efficient power systems. Additional avenues are emerging in aerospace electrification, smart grids, and high-performance industrial automation. However, high production costs and complex fabrication processes remain key restraints, especially due to the hardness and high melting point of SiC crystals, which make them difficult to grow and process. Despite these hurdles, ongoing R&D and rising multi-sectoral demand position the SiC material market for long-term growth and technological advancement.

Facts & Figures

• Accelerated Adoption of Electric Vehicles (EVs): SiC materials are revolutionizing electric vehicle design due to their superior energy efficiency, heat resistance, and ability to handle high voltages. Compared to traditional silicon semiconductors, SiC enables smaller, lighter, and more efficient inverters and onboard chargers, critical to reducing weight and extending battery range in EVs. For instance, in March 2024, Tesla expanded its sourcing agreement with STMicroelectronics to supply SiC MOSFETs for upcoming EV models, citing a 10% increase in battery range and better thermal performance in trials. The EV sector remains the primary volume consumer of SiC wafers globally.
• Renewable Energy Expansion: The global surge in solar and wind energy deployments demands more efficient power conversion systems. SiC devices, with their low switching losses and high thermal stability, are essential for improving inverter efficiency and reducing energy loss in harsh outdoor conditions. For instance, Enphase Energy began integrating SiC-based power modules into its IQ8 series solar inverters in Q4 2023, reporting a 5-6% gain in energy efficiency and improved thermal durability under peak load conditions.
• 5G and Telecom Infrastructure Rollout: As 5G expands, the need for efficient and reliable high-frequency components grows. SiC enables higher power density and reduced heat dissipation in radio-frequency (RF) applications used in 5G base stations and network devices. For instance, in June 2024, Infineon announced mass deployment of SiC devices in Asia’s growing 5G mm Wave installations, especially in Korea and Japan, to improve power handling and base station stability.
• Supportive Government Regulations and Funding: Governments across regions are incentivizing low-carbon technologies through subsidies, mandates, and research grants. SiC’s high efficiency in EVs, smart grids, and renewables aligns well with decarbonization goals. For instance, in February 2024, the U.S. Department of Energy awarded $80 million in grants under the Bipartisan Infrastructure Law for domestic SiC innovation in EVs and clean energy applications, underlining its strategic role in national energy goals.

Recent Developments 

• In June 2024, Mitsubishi Electric formed an R&D collaboration with Coherent to develop 8-inch SiC wafers and laser processing capabilities, aiming to reduce fabrication costs and support high-efficiency SiC devices in EVs and power grids.
• In April 2024, Bosch announced a 1 billion capital investment to expand its Dresden SiC fabrication plant, targeting production of 200mm wafers to meet growing European demand for SiC chips in mobility and industrial electrification.
• In February 2024, Wolfspeed signed a long-term supply agreement with Renesas Electronics worth over $2 billion to deliver 150mm and 200mm SiC wafers, aiming to secure critical raw materials for Renesas’s EV and industrial power devices amid soaring global demand.
• In January 2024, ROHM Semiconductor signed a long-term supply and co-development agreement with Vitesco Technologies to provide SiC power chips for EV traction inverters, helping Vitesco meet efficiency targets and diversify sourcing beyond silicon-based components.

Silicon Carbide Material Market Segmentation

Based on the device 

• SiC Discrete Device
• SiC Bare Die
• Others

In the global silicon carbide (SiC) material market, the SiC discrete device segment holds the largest market share. This dominance is driven by their widespread adoption in electric vehicles (EVs), renewable energy systems, and industrial motor drives, where efficiency, heat resistance, and high-voltage handling are critical. Discrete devices like SiC MOSFETs and Schottky diodes are favored for their reliability and ease of integration in power conversion and switching applications. Their maturity and broad use across diverse sectors give them a strong edge in market penetration. In contrast, SiC bare die, while offering customization advantages, currently holds a smaller share due to limited adoption, higher handling complexity, and reliance on advanced packaging technologies.

Based on the technology 

• Reactive Synthesis
• Chemical Vapor Deposition (CVD)
• Physical Vapor Deposition (PVD)
• Sintering Process
• Other Advanced Manufacturing Techniques

Chemical Vapor Deposition (CVD) technology dominates in terms of market share. CVD is the preferred method for producing high-purity, defect-free SiC layers essential in power electronics and high-frequency applications. It enables precise control over film thickness, uniformity, and doping, making it ideal for manufacturing SiC wafers used in electric vehicles (EVs), 5G infrastructure, and renewable energy systems. The scalability and reliability of CVD contribute to its widespread adoption among leading semiconductor manufacturers. On the other hand, reactive synthesis holds the smallest share due to its lower yield control, limited uniformity, and suitability mainly for research or low-end bulk SiC production rather than high-tech electronics applications.

Based on the application 

• Power Grid Devices
• Flexible AC Transmission System
• High-Voltage Direct Current System
• Power Supplies and Inverter
• RF Devices & Cellular Base Station
• Lighting Control System
• EV Charging Station
• Others

In the silicon carbide (SiC) material market, power supplies and inverters hold the largest market share due to their critical role across multiple high-growth sectors such as electric vehicles, industrial drives, and renewable energy systems. SiC’s ability to operate at high temperatures, voltages, and frequencies enables more efficient power conversion, reduced energy loss, and compact system design, making it the material of choice for next-gen inverters and power supplies. This application is central to the electrification of mobility and energy. In contrast, lighting control systems account for the smallest share, as their power requirements are lower and can often be served by traditional silicon-based electronics, making SiC adoption less economically compelling in this niche.

Based on the end-use  

• Automotive
• Electronics and Telecommunication
• Renewable Energy
• Aerospace and Defense
• Manufacturing and Industrial

The automotive segment holds the largest market share due to the rapid rise of electric vehicles (EVs) and the automotive industry’s demand for high-efficiency power electronics. SiC is a preferred material in EV applications such as inverters, onboard chargers, and power control units, where its superior thermal conductivity and high-voltage tolerance enable longer driving ranges, faster charging, and lighter vehicle design. Automakers are increasingly adopting SiC to meet performance and emissions goals. On the other hand, while manufacturing and industrial applications also benefit from SiC’s durability and efficiency, this segment currently represents a smaller share due to slower adoption rates and more limited use cases relative to the rapidly evolving EV landscape.