Silicon Carbide Market Worth $11.1 Billion by 2028
The global silicon carbide market was valued at USD 1.8 billion in 2022 and is projected to reach USD 11.1 billion by 2028; registering a CAGR of 36.4% during the forecast period according to a new report by MarketsandMarkets™. The rise in demand for silicon carbide devices is attributed to benefits of silicon carbide over silicon, increasing use of SiC devices in power electronics, and higher mechanical, electrical, and thermal properties of SiC than regular silicon.
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