According to Cognitive Market Research, the global SIC Powder market size will be USD 81.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 32.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 24.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 18.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
The metal industry is the dominant segment in the SIC powder market due to Silicon Carbide’s excellent thermal conductivity, wear resistance, and hardness, making it ideal for applications in metal casting, foundries, and steel production
