South Korea Silicon Carbide Market Overview
The South Korea Silicon Carbide Market Size was estimated at 43.56 (USD Million) in 2023. The South Korea Silicon Carbide Market Industry is expected to grow from 45.54 (USD Million) in 2024 to 96.99 (USD Million) by 2035. The South Korea Silicon Carbide Market CAGR (growth rate) is expected to be around 7.115% during the forecast period (2025 - 2035).
The South Korea Silicon Carbide Market is witnessing significant trends driven by the increasing demand for energy-efficient solutions and advancements in semiconductor technology. The government's commitment to promoting green technology and renewable energy sources is a crucial market driver. The South Korean government has been actively investing in electric vehicles and smart grid technologies, creating a strong market for silicon carbide due to its excellent properties in power electronics.
Additionally, there is growing interest in the use of silicon carbide in telecommunications and data centers, as it supports high-efficiency power conversion and heat dissipation. Particularly in expanding the boundaries of manufacturing, South Korea has numerous prospective opportunities. With the aid of domestic companies, South Korea is shifting its focus towards the research and development of silicon carbide substrates.
Innovations from academic institutions in cooperation with industrial entities can greatly enhance production processes and their applications. Furthermore, South Korean producers have the capability of exploiting the increased global demand for electric vehicles by using silicon carbide technology in electric drivetrains, which enhances performance. There has also been growing attention focused on sustainability and decreasing the carbon footprint, which affects the market as well.
The adoption of silicon carbide in consumer electronics, automotive, and industrial applications is growing as companies aim for more efficient energy solutions. As such, businesses in South Korea are intensifying their efforts to support the transition towards sustainable technologies, reflecting the broader global shift towards eco-friendly practices. Overall, these trends signify a dynamic evolution within the South Korea Silicon Carbide Market, paving the way for future growth and innovation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The South Korea Silicon Carbide Market Industry is projected to witness robust growth due to the escalating demand for electric vehicles (EVs). The South Korean government has set ambitious goals to increase the adoption of EVs, aiming for 1.13 million electric vehicles on the road by 2025. Silicon carbide components are crucial in enhancing the efficiency, performance, and thermal management of electric vehicle power electronics.
Major automakers like Hyundai Motor Company and Kia Corporation have committed significant investments into EV technology, necessitating the use of high-performance materials like silicon carbide. According to the Korea Automobile Manufacturers Association, EV sales in South Korea increased by 70% from 2020 to 2021, presenting further opportunities for growth in the silicon carbide sector. This increasing trend implies not only a growing market volume but also the potential for innovation in semiconductor technology specific to South Korea.
South Korea is actively promoting the transition to renewable energy, which provides a significant boost to the Silicon Carbide Market Industry. The South Korean government aims to source 20% of its electricity from renewable resources by 2030 as per the 'Green New Deal.' This legislative push necessitates advanced power conversion technologies that silicon carbide-based devices can provide, particularly in solar inverters and wind power systems.
With companies like SK Innovation leading the charge in clean energy initiatives, South Korea is positioned as a key player in the clean technology market. The increase in renewable energy capacity is expected to boost demand for silicon carbide, leveraging its superior efficiency and thermal stability in power conversion systems. This alignment with national energy goals is set to accelerate market growth for silicon carbide products in South Korea.
The rollout of 5G technology in South Korea is profoundly influencing the Silicon Carbide Market Industry. With South Korea being one of the first nations to fully deploy 5G, the telecommunications sector is experiencing a surge in demand for efficient, high-performance materials. Silicon carbide-based devices are essential for the development of next-generation infrastructure, including base stations and antennas that require reliable and efficient power management.
According to the Ministry of Science and ICT, South Korea anticipates a mobile data traffic increase of 32 times by 2025, reinforcing the need for semiconductor technologies that can handle such substantial data flow. Major firms such as Samsung Electronics are increasingly relying on silicon carbide to improve operational efficiencies and power characteristics in their 5G solutions. This expansive growth in telecommunications marks a significant opportunity for the South Korea Silicon Carbide Market.
The South Korea Silicon Carbide Market is witnessing significant growth driven by advancements in various sectors such as electronics, automotive, and renewable energy. Within the market, the Product Type segmentation includes notable categories like Black Silicon Carbide and Green Silicon Carbide, each catering to distinct applications. Black Silicon Carbide is predominantly used in refractory applications and is crucial for its hardness, making it essential for grinding and cutting purposes.
This variant is known for its abrasiveness and thermal conductivity, contributing to its widespread use in industries such as construction materials and composites. As South Korea's construction industry continues to expand, the demand for Black Silicon Carbide is expected to rise. On the other hand, Green Silicon Carbide is characterized by its purity and superior hardness, rendering it valuable for high-precision applications.
It is mainly used in the production of high-performance grinding wheels and as an abrasive in various finishing processes. The increasing trend toward energy-efficient and high-performance products fuels the growth of Green Silicon Carbide in South Korea as industries seek sustainable solutions that deliver better performance. As technology evolves, applications in semiconductor manufacturing, LED lighting, and power electronics are increasingly utilizing Green Silicon Carbide, making it a significant player in the market.
The South Korea Silicon Carbide Market segmentation reflects not only the diverse applications of these sub-types but also underscores the technological advancements in material science. The continuous demand for high-strength materials and the growing emphasis on electrical efficiency are pivotal factors driving the popularity of both Black and Green Silicon Carbide. As industries adapt to more sustainable initiatives, the usage of these materials is likely to increase, positioning South Korea as a noteworthy hub for silicon carbide production and innovation, thereby contributing to the overall growth and dynamics of the South Korea Silicon Carbide Market landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The South Korea Silicon Carbide Market is significantly driven by its diverse applications across multiple sectors. The Steel and Energy application is crucial due to the increasing demand for energy-efficient solutions within steel manufacturing processes, reflecting South Korea's commitment to sustainable industrial practices. The Automotive sector is also gaining momentum as electric vehicles become more popular, leveraging silicon carbide for improved energy efficiency and performance.
In Aerospace and Aviation, the ability of silicon carbide to withstand high temperatures makes it ideal for use in lightweight, high-performance components. Military and Defense applications utilize silicon carbide for advanced semiconductor technologies, enhancing the reliability of defense systems. Moreover, the Electronics and Semiconductors industry benefits from silicon carbide's superior thermal conductivity and high electric field strength, essential for manufacturing next-generation electronic devices.
Lastly, in the Medical and Healthcare field, silicon carbide's biocompatibility and robustness position it as a valuable material for medical devices and imaging technologies. Overall, these segments demonstrate the versatility and growing importance of silicon carbide in South Korea's technological landscape.
The South Korea Silicon Carbide Market is marked by significant growth and innovation, driven by an increasing demand for energy-efficient and high-performance materials in various sectors such as automotive, electronics, and renewable energy. As the global push for sustainable technologies accelerates, companies operating in South Korea are strategically positioning themselves to capture market share. The competition in this market is characterized by high research and development investments, partnerships, and collaborations aimed at enhancing product quality and performance.
With the country's advanced manufacturing capabilities and a strong emphasis on technological advancement, the South Korean market is becoming a key player in the global Silicon Carbide landscape. ROHM, a notable player in the South Korea Silicon Carbide Market, has established itself as a trusted supplier of high-quality semiconductor solutions. Its presence in this market is characterized by a robust portfolio of Silicon Carbide-based devices designed for power electronics applications.
ROHM's strengths lie in its continuous innovation and commitment to developing high-performance components that meet the stringent requirements of various industrial sectors. The company's focus on enhancing energy efficiency and reducing environmental impact aligns well with the growing demand for Silicon Carbide technologies, thereby solidifying its competitive positioning in the South Korean market. Samsung Electronics is another significant entity within the South Korea Silicon Carbide Market, renowned for its advanced semiconductor technology and commitment to innovation.
The company offers a range of products and services that leverage Silicon Carbide materials, particularly in power semiconductors and energy systems. Samsung's strengths include its extensive research capabilities, strong brand recognition, and robust supply chain management. The company actively pursues strategic mergers and acquisitions to bolster its technological capabilities and market presence.
Its efforts to expand in the Silicon Carbide arena highlight its commitment to leading the industry in developing eco-friendly and efficient power solutions. By maintaining a focus on high-quality manufacturing and cutting-edge technology, Samsung Electronics aims to strengthen its competitive edge in South Korea's Silicon Carbide Market.
Recent developments in the South Korea Silicon Carbide Market indicate significant advancements and strategic alignments among key players. In July 2023, ROHM announced the expansion of its production facility in South Korea to enhance silicon carbide chip production capacity, catering to the rising demand in electric vehicles and renewable energy sectors. Samsung Electronics is ramping up its investment in semiconductor technology, focusing on silicon carbide devices to improve energy efficiency in its products.
Moreover, Wolfspeed has been collaborating with Hynix Semiconductor to develop new silicon carbide materials aimed at increasing performance and efficiency in power electronics. On the merger and acquisition front, in June 2023, Mitsubishi Electric completed the acquisition of a stake in a local company specializing in silicon carbide materials, boosting its technological capabilities in the region. The South Korean government continues to support the growth of the silicon carbide market through various initiatives, including funding for Research and Development in advanced semiconductor technologies.
This regulatory backing is propelling the market's growth trajectory, with multiple companies like LG Electronics, Mersen, and Infineon Technologies making considerable investments to advance their silicon carbide product lines and maintain competitive advantages.
| Report Attribute/Metric | Details |
| Market Size 2023 | 43.56 (USD Million) |
| Market Size 2024 | 45.54 (USD Million) |
| Market Size 2035 | 96.99 (USD Million) |
| Compound Annual Growth Rate (CAGR) | 7.115% (2025 - 2035) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2024 |
| Market Forecast Period | 2025 - 2035 |
| Historical Data | 2019 - 2024 |
| Market Forecast Units | USD Million |
| Key Companies Profiled | ROHM, Samsung Electronics, Wolfspeed, Mersen, Cree, Mitsubishi Electric, Infineon Technologies, STMicroelectronics, ON Semiconductor, Korea Electric Power Corporation, LG Electronics, Nexperia, Hynix Semiconductor, SK Siltron, Nippon Steel Corporation |
| Segments Covered | Product Type, Application |
| Key Market Opportunities | Growing demand for electric vehicles, Increasing adoption of renewable energy, Advancements in semiconductor technology, Expansion in power electronics applications, Strong government support for innovation |
| Key Market Dynamics | Growing demand for electric vehicles, advancements in semiconductor technology, increasing investment in renewable energy, government support for innovation, rising demand for high-performance materials |
| Countries Covered | South Korea |
Frequently Asked Questions (FAQ) :
The South Korea Silicon Carbide Market is expected to be valued at 45.54 million USD in 2024.
By 2035, the South Korea Silicon Carbide Market is projected to reach a value of 96.99 million USD.
The expected CAGR for the South Korea Silicon Carbide Market from 2025 to 2035 is 7.115%.
Both Black Silicon Carbide and Green Silicon Carbide are expected to share dominance in the market.
The value of Black Silicon Carbide in the South Korea Silicon Carbide Market is expected to reach 48.9 million USD by 2035.
The South Korea Silicon Carbide Market for Green Silicon Carbide is projected to be valued at 48.09 million USD by 2035.
Major players in the South Korea Silicon Carbide Market include ROHM, Samsung Electronics, Wolfspeed, and Cree.
Opportunities are expected to arise from emerging applications and increasing demand in electronics and energy sectors.
The market is showing significant growth compared to previous years, reflecting increased investment and interest in semiconductor technologies.
Key applications include electric vehicles, renewable energy systems, and high-efficiency power electronics.
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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