Silicon Carbide Abrasives Market
Silicon Carbide Abrasives Market
The market for Silicon Carbide Abrasives was estimated at $2.57 billion in 2024; it is anticipated to increase to $4.9 billion by 2030, with projections indicating growth to around $8.4 billion by 2035.
Datatree
Global Silicon Carbide Abrasives Market Outlook
Revenue, 2024 (US$B)
$2.6B
Forecast, 2034 (US$B)
$7.6B
CAGR, 2024 - 2034
11.4%
Market Size Forecast & Key Insights
- The Silicon Carbide Abrasives market is projected to grow from $2.6 billion in 2024 to $7.6 billion in 2034. This represents a CAGR of 11.4%, reflecting rising demand across Automotive Industry, Construction & Infrastructure and Electronics Manufacturing.
- U.S. and China are the top markets within the Silicon Carbide Abrasives market and are expected to observe the growth CAGR of 8.3% to 12.0% between 2024 and 2030.
- Emerging markets including Indonesia, South Africa and Brazil are expected to observe highest growth with CAGR ranging between 10.9% to 14.3%.
- The Silicon Carbide Abrasives market is set to add $5.0 billion between 2024 and 2034, with manufacturer targeting Aerospace & Electronics End-Users projected to gain a larger market share.
- With Technological advancements in silicon carbide abrasives, and Growth in the automotive industry, Silicon Carbide Abrasives market to expand 194% between 2024 and 2034.
Opportunities in the Silicon Carbide Abrasives
The Silicon Carbide Abrasives market remains unexplored in emerging economies which creates significant growth opportunities. The penetration of Silicon Carbide Abrasives markets in these regions becomes possible through strategic partnerships with local manufacturers and distributors which leads to worldwide market growth.
Growth Opportunities in North America and Asia Pacific
North America Outlook
Asia Pacific Outlook
Market Dynamics and Supply Chain
Driver: Technological Advancements in Silicon Carbide Abrasives, and Increasing Demand in Electronics Industry
Restraint: High Production Cost
Opportunity: Expanding Automotive Applications and Technological Innovations in Manufacturing
Challenge: Environmental Concerns
Supply Chain Landscape
Raw Material Suppliers
Saint-Gobain
Carborundum Universal Ltd
Producers
Washington Mills
Nippon Carbon Co Ltd
Distributors Wholesalers
Klingspor
3M Company
End Users
Automotive
Electronics
Aerospace
Raw Material Suppliers
Saint-Gobain
Carborundum Universal Ltd
Producers
Washington Mills
Nippon Carbon Co Ltd
Distributors Wholesalers
Klingspor
3M Company
End Users
Automotive
Electronics
Aerospace