Description:Global Carborundum Market was valued at US$ XX Mn in 2019 and is estimated to reach at US$ XX Mn. by the end of 2027, growing at a CAGR of 15% during the forecast of 2020 to... moreGlobal Carborundum Market was valued at US$ XX Mn in 2019 and is estimated to reach at US$ XX Mn. by the end of 2027, growing at a CAGR of 15% during the forecast of 2020 to 2027.
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Global Carborundum Market Definition:
Carborundum is an inorganic compound of carbon and silicon also known as Silicon Carbide (Sic), Sic is hard as diamond, used as an abrasive and chemically inert and stable with high-temperature strength, high thermal conductivity and is resistant to chemical reactions.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Carborundum Market Dynamics:
The report comprises of worldwide Carborundum Market presentation in terms of revenue (US$ Mn) for the period 2019 to 2027. Highlighting various segments and detailed evaluation of the trends and factors that are playing a substantial role in the market. These factors involve the drivers, restraints, opportunities and challenges for the key companies and stakeholders in the industry.
The prime factors driving the Carborundum market are technological advancement and industrial development and increasing acceptances and uses in various growing industries like, chemicals, medical & healthcare, steel & energy and most importantly used in electronics for making light-emitting diodes (LEDs) & semiconductors thanks to its physical and chemical properties, high density, high thermal stock resistance which in turn propel the growth of the global Carborundum market. Also, the growing automotive industry in developing countries for the development of electric vehicles in concerns to the environmental condition will subsequently drive the growth of the global market over the forecast period.
Major factors restraining the growth of the market are high cost of production and requirement of high precision during manufacturing and low tolerance among individuals irritating skin, eyes, and different problems in lungs and respiratory system, which can challenge the growth of the target market.
The significant trend observed in the market is the growing popularity and increasing demand for the Carborundum photovoltaic cells in developing and emerging countries, which is anticipated to propel the growth of the market.
Global Carborundum Market: Market Segmentation
The report covers competitive analysis of the Carborundum Market in each of the geographical segments thereby providing insight into a market share at the macro as well as micro levels.
In terms of application, Carborundum is estimated to have the largest market share, and has drastically used in Electronics as semiconductors material because of its high-voltage applications, efficiency and capability for many electronics applications. Recently, a new development came into existences that enabled to bring first hybrid and an electric vehicle to the market with a concept such as frequency converters to power the engine up to 300 kW, wireless charging 3.6 kW to 22 kW, with battery backup from 3.6 W to 22 kW, with conveniences such as power steering and air conditioning. Furthermore, growing demand and increasing automobile production and product innovation are driving the market.
However, is also projected to grow at CAGR of XX% and is most commonly use in Steel & energy for the production of refractory solutions for glass, steel and recently Carborundum entered into agreement with U.K to manufacture high-end refractory solutions.
Based on type, Black SiC is expected grow at significant growth over the forecast period, thanks to increasing acceptance in refractory, ceramic, and steel industries. Due to its hardness, abrasive and durability characteristic, it is ideally use in many application like for, lapping & polishing, anti-skid, aerospace, electrical heating elements, etc.
Global Carborundum Market: Geographical Analysis
Asia Pacific is accounted for the highest share XX% in 2019 and is anticipated to reach US$ XX.X Mn by 2027, growing at a CAGR of X.X%. The US held the largest market share of 50% and will continue its dominance over the forecasted period 2019 to 2027, an existing population of 61%. Thanks to the significant players on the emerging market such as Indian, China & Japan with growing production and growth in the steel & energy industry in the region will expand the product demand. India is expected to finance nearly US$ 650 Bn in urban infrastructure over the next 20 years. Furthermore, the existence of established automotive, electronics, aerospace & defence industry and growing demand for the electronic devices and semiconductors in automobiles, and pharmaceuticals companies, are expected to drive the market in the Asia Pacific region.
North America is expanding at the highest CAGR XX% during the forecast period thanks to the booming demand attributed to... less
