Chemical Vapor Deposition Silicon Carbide (CVD SiC) is a high-performance material produced through the Chemical Vapor Deposition (CVD) process. It is extensively used across various sectors, including semiconductors, LED, optics, medical devices, aerospace, defense, and R&D.
The CVD SiC market size will be $386.8 million in 2024 with a CAGR of 8.03% from 2019 to 2024.
Chemical Vapor Deposition Silicon Carbide (CVD SiC) is a high-performance material produced through the Chemical Vapor Deposition (CVD) process. It is extensively used across various sectors, including semiconductors, LED, optics, medical devices, aerospace, defense, and R&D.
1 Market Drivers
Technological Advancements: Improvements in CVD technology have enhanced the efficiency and quality of CVD SiC production.
Increasing Downstream Demand: The rapid development of the semiconductor industry, particularly in emerging technologies, has increased the demand for CVD SiC.
Policy Support: Governments worldwide have introduced policies to support the research, development, and production of semiconductors and related materials.
2 Market Challenges and Outlook
Despite the promising outlook for the CVD SiC market, challenges such as raw material price fluctuations, uncertainties in the international trade environment, and intensified industry competition exist. However, as global awareness of environmental protection and energy efficiency grows, CVD technology, being a key process in the field of semiconductor manufacturing, is expected to continue growing.
3 Market Segmentation by Type
the CVD SiC market can be segmented into three types based on resistivity levels: High Resistivity Grade, Middle Resistivity Grade, and Low Resistivity Grade.
High Resistivity Grade Market Analysis
the High Resistivity Grade segment is primarily used in applications that require electrical insulation and high voltage, indicating its critical role in high-voltage and insulation-dependent technologies. This segment held a substantial portion of the market, with a revenue of $112.88 million in 2019, accounting for 47.09% of the total market share. By 2024, the market size for High Resistivity Grade is projected to have grown to $183.40 million, with a slight increase in market share to 47.40%. This growth underscores the consistent demand for high resistivity materials in specialized applications.
Middle Resistivity Grade Market Analysis
The Middle Resistivity Grade, which offers a balance between conductivity and insulation, has seen its revenue increase from $23.47 million in 2019 to an estimated $36.50 million in 2024. This segment is versatile and suitable for a wide range of applications. The market share has remained relatively stable, with a slight decrease from 9.79% in 2019 to 9.43% in 2024, suggesting that while the segment is growing, it is doing so at a slightly slower pace compared to the High Resistivity Grade.
Low Resistivity Grade Market Analysis
The Low Resistivity Grade, characterized by high electrical conductivity, is ideal for power devices and electronic components. It has shown a remarkable growth trajectory, with revenues increasing from $103.34 million in 2019 to an estimated $166.99 million in 2024. The market share has also seen a slight increase, from 43.11% in 2019 to 43.16% in 2024, indicating a growing preference for low resistivity materials in power and electronic applications.
4 Application Segments Overview
CVD SiC is utilized in several critical applications, including Rapid Thermal Process Components, Plasma Etch Components, Susceptors & Dummy Wafers, LED Wafer Carriers & Cover Plates, and others. Each application segment contributes uniquely to the overall market dynamics.
Rapid Thermal Process Components
In 2019, the Rapid Thermal Process Components segment contributed significantly to the CVD SiC market, with a revenue of $43.39 million. This segment is pivotal for high-temperature processes and harsh environments. By 2024, the revenue is projected to reach $71.04 million, reflecting a steady increase in demand for efficient thermal management solutions.
Plasma Etch Components
The Plasma Etch Components segment, which is crucial for semiconductor manufacturing, experienced a substantial growth from $84.16 million in 2019 to an estimated $134.32 million in 2024. This growth underscores the increasing complexity and miniaturization in semiconductor production, where precise etching is essential.
Susceptors & Dummy Wafers
The Susceptors & Dummy Wafers segment, used in various stages of semiconductor and LED manufacturing, saw a rise from $34.04 million in 2019 to an estimated $57.07 million in 2024. This increase highlights the ongoing advancements in semiconductor and LED technology, driving the need for reliable and high-quality wafer processing tools.
LED Wafer Carriers & Cover Plates
The LED Wafer Carriers & Cover Plates application, vital for the LED industry, showed a significant uptick from $42.35 million in 2019 to an estimated $65.91 million in 2024. This growth is indicative of the expanding LED market, driven by energy efficiency and sustainability goals.
5 Key Players and Market Competition
The market concentration ratio (CR5), which measures the market share of the top five firms, indicates a moderate level of market concentration. In 2023, the top five manufacturers held approximately 67.30% of the market, suggesting a balanced competitive landscape with several key players holding significant influence.
Tokai Carbon and CoorsTek are at the forefront, with their combined market share exceeding 30%, highlighting their dominance.
AGC, Morgan Advanced Materials, and Solmics contribute to the mid-tier of the market, each with a market share ranging from approximately 7% to 15%.
Here is the market share data for key players in the CVD SiC industry presented in a tabular format:
Company | Market Share (%) |
Tokai Carbon | 18.65 |
CoorsTek | 15.41 |
AGC | 4.01 |
Morgan Advanced Materials | 10.78 |
Solmics | 8.46 |
DEZHI | 1.97 |
PremaTech Advanced Ceramics | 1.84 |
Others | 28.90 |
This distribution underscores the competitive nature of the industry, with a few leading companies controlling a substantial portion of the market, while a significant portion remains contested among numerous other players.
Tokai Carbon: Leading the market with a substantial market share of 18.65%, reflects its strong position in the high resistivity grade segment. Its comprehensive product range and global reach have solidified its leadership.
CoorsTek: Known for its middle resistivity grade products, CoorsTek has a significant market share. It focuses on providing a balance between conductivity and insulation for versatile applications.
AGC: Specializing in low resistivity grade products, AGC serves the power devices and electronic components sector. Its market share reflects its strong position in this segment.
Morgan Advanced Materials: With a diverse product portfolio, Morgan Advanced Materials holds a notable market share. It is recognized for its contributions to the industry’s growth and innovation.
Solmics: A key player in the CVD SiC market, Solmics has a significant market share. It is known for its contributions to the industry’s development.
DEZHI: Although with a smaller market share compared to the leaders, DEZHI is a significant player, particularly in the Asian market.
The competition in the CVD SiC industry is fierce, with companies continuously innovating to develop products with better performance and broader applications to meet the needs of various industries. This competitive environment has led to improvements in product quality and production efficiency and has accelerated the survival of the fittest in the industry.