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The silicon carbide market size is forecast to increase by USD 7.17 billion at a CAGR of 32.14% between 2023 and 2028. The Silicon Carbide (SiC) market is experiencing significant growth due to the increasing demand for SiC fibers in the aerospace sector, driven by their high strength-to-weight ratio and excellent thermal stability. Another trend boosting the market is the growing adoption of SiC power semiconductors in power inverters for electric vehicles, as they offer superior efficiency and longer lifespan compared to conventional silicon semiconductors. However, the high manufacturing and processing costs of SiC semiconductors remain a major challenge for market growth. Despite this, the market is expected to continue expanding due to the increasing demand for lightweight and high-performance materials in various industries, including automotive, energy, and electronics.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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