Carborundum Market Insights:
Carborundum Market was valued at USD 3.1 Billion in 2021, registering a CAGR of 12.1% during the forecast period (2022-2030), and the market is projected to be worth USD 8.67 Billion by 2030. The increased use of abrasives in multiple residential, industrial and technological applications is expected to witness significant growth due to rapid urbanization. For instance, the United Nations Industrial Development Organization published a report named statistical indicators of inclusive and sustainable industrialization which reported that global industrial manufacturing has attained the milestone of USD 12,863 billion, further growing the global market value added (MVA) growth rate from 2.7 percent in 2016 to 3.5 percent in 2017, recording the highest growth since last six year. Thus, the high demand for corundum abrasives in the form of honing stones, pulp stones, grinding wheels, cutoff wheels, sandpapers, polishes, and sandblasting purposes in augmented industrial processes is anticipated to accelerate the growth of the carborundum market during the forecast period.
Additionally, the rising production in automotive industries is expected to accelerate the demand for carborundum for the production of ceramic brakes, carbide chips, batteries, and others. For instance, the Society of Indian Automobile Manufacturers (SIAM) stated that the automobile industry manufactured a total of 22,933,230 vehicles which include commercial vehicles, passenger vehicles, two-wheelers, three-wheelers, and quadricycles from April 2021 to March 2022, with a slight increase in the manufacturing of same vehicles from April 2020 to March 2021 of 22,655,609 units. Thus, the increasing demand for automobiles among the population is estimated to support the growth of the carborundum market. In the context of the region, North America is anticipated to contribute to the growth of the carborundum market. The rising demand for carborundum in the production of semiconductors, telecommunications, electronic devices, pharmaceuticals, and others and rising expenditures from major market players for technology adoption is projected to accelerate the carborundum market in the North American region.
Carborundum Market Dynamics:
Carborundum, also referred to as silicon carbide (SiC), is a crystalline inorganic compound made of carbon and silicon. Carborundum is used as an abrasive for grinding, cutting, and polishing coupled with other applications such as increased use as an antislip additive, ceramics, and refractories due to the factors like high thermal conductivity, stiffness, and low thermal expansion.
Driver:
The wide applicability of carborundum as raw material in multiple refractory applications such as furnaces, linings of kilns, and reactors combined with the casting process of metals like cast iron, steel, and aluminum due to high-temperature resistance are the major factors that fuel the growth of the carborundum market during the forecast period. Additionally, the increased demand for carborundum for the production of silicon carbide chips, semiconductors, and the wet and dry paper coupled with printmaking applications such as paint, powder, and paint also boost the growth of the carborundum market.
Restraint:
The high cost of carborundum material which ranges from around USD 800 to USD 2,000 per ton combined with the availability of low-cost alternatives to carborundum for product manufacturing restrict the growth of the carborundum market. Additionally, the increased concerns of health-related risks such as cancer due to mismanagement of such highly reactive substances and lack of distribution channels especially in underdeveloped nations such as Indonesia, Mexico, and Brazil hamper the carborundum market growth.
COVID-19 Analysis of the Carborundum Market:
The carborundum market has been significantly impacted due to the COVID-19 pandemic in many different parts of the world. The factors such as transportation restrictions, the shutdown of manufacturing facilities, limited availability of raw materials, and economic slowdown are the major impacts of COVID-19 which hampered the growth of the carborundum market. Shipments were impacted during the initial lockdown due to labor shortages and stringent government rules. However, the circumstances have stabilized and as a result, it is determined that COVID-19’s overall impact on the carborundum market is moderate. Post covid-19, there was a positive impact on the carborundum market due to the increased use of carborundum products for the rising rate of industrial manufacturing.
Carborundum Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 8.67 Billion |
| CAGR (2022-2030) | 12.1% |
| By Type | Black SiC, Green SiC, Metallurgical SiC, Coated SiC, Micro Grit SiC, and Refractory SiC |
| By Application | Steel & Energy, Electronics & Semiconductors, Automotive, Aerospace & Defense, Fabrication |
| By Geography | North America– (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe) Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific) Latin America- (Brazil, Argentina, Chile, Rest of Latin America) Middle East and Africa- (GCC, Turkey, Israel, and the Rest of MEA) |
| Key Players | Snam Abrasives Pvt. Ltd, KYOCERA Corporation, Xiamen Powerway Advanced Material Company Limited, Saint Gobain Ceramics Materials, ESD-SIC BV, Gaddis Mechanical Seals, AGSCO Corp, Norstel AB, Carborundum Universal Ltd, Imerys Graphite & Carbon |
Carborundum Market Segment Analysis:
By Type
The type segment is separated into black SiC, green SiC, coated SiC, metallurgical SiC, refractory SiC, and micro grit SiC. The black SiC segment is anticipated to contribute the largest share of over 55.2% in 2021. The factors such as the large demand for powder, block, and grain products of carborundum especially in electric arc furnaces, high tensile strength due to its brittle nature, and growing use for precision grinding are estimated to support the growth of black SiC segment during the forecast period. Additionally, the green SiC segment is also expected to register the fastest CAGR growth during the projected period owing to the increased popularity among hardest man-made minerals, high resistance against extreme temperatures, and rising use as specialty ceramics in the production of wear-resistant seals, metal-matrix composites, and nozzles.
By Application
The application segment is divided into steel & energy, electronics & semiconductors, automotive, aerospace & defense, and fabrication. The electronics & semiconductors segment is expected to contribute the largest share of over 26.7% during the forecast period. The factors such as high-frequency operation, greater bandgap, and chemical stability are expected to support the growth of the electronics & semiconductors segment. Furthermore, the aerospace & defense segment is also projected to contribute the second largest revenue share to the growth of the carborundum market due to rising demand for carborundum products in the development of jet turbine blades for reduced fuel intake, high resistance to oxidation and corrosion combined with ease of 3D printing the aerospace parts such as the high-strength titanium alloy bracket which was used on-board of the Atlantic Bird 7 telecoms satellite.
By Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, Asia Pacific is expected to contribute the largest share of over 59.9% during the forecast period. The factors such as rising demand for carborundum as a deoxidizing agent and an additive for the production of clean steel combined with the large presence of major steel-producing industries, especially in China, India, South Korea, and Japan are projected to accelerate the carborundum market in Asia Pacific region.
Europe is also expected to register the fastest CAGR growth during the forecast period owing to the factors such as the high purchasing power of the population, favorable government initiatives, and increased rate of industrialization is anticipated to boost the carborundum market growth in the European region.
Carborundum Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and Application launches have accelerated the growth of the Sample Preparation market. Key players in the market include-
- Snam Abrasives Pvt. Ltd
- KYOCERA Corporation
- Xiamen Powerway Advanced Material Company Limited
- Saint Gobain Ceramics Materials
- ESD-SIC BV
- Gaddis Mechanical Seals
- AGSCO Corp
- Norstel AB
- Carborundum Universal Ltd
- Imerys Graphite & Carbon
FAQ
What is the size of Carborundum Market?
The Carborundum Market is worth USD 8.67 Billion by 2030.
Who are the major players operating in this industry?
Snam Abrasives Pvt. Ltd, KYOCERA Corporation, Xiamen Powerway Advanced Material Company Limited, Saint Gobain Ceramics Materials, ESD-SIC BV are the major player in this industry.
Which region dominated growth of market?
Asia Pacific is expected to contribute the largest share of the market.
What is the dominant market driving factor?
The wide applicability of carborundum as raw material in multiple refractory applications such as furnaces.
Which is the leading product segment in this market?
The Black SiC are anticipated to contribute the largest share to the product segment.
Table of Content
- Introduction
- Market Introduction
- Market Research Methodology
- Research Process
- Primary Research
- Secondary Research
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Limitations of the Study
- Product Picture of Carborundum
- Global Carborundum Market: Classification
- Geographic Scope
- Years Considered for the Study
- Research Methodology in brief
- Parent Market Overview
- Overall Carborundum Market Regional Demand
- Research Programs/Design
- Market Breakdown and Data Triangulation Approach
- Data Source
- Secondary Sources
- Primary Sources
- Primary Interviews
- Average primary breakdown ratio
- Market Dynamics
- Drivers
- Drivers
- Restraints
- Restraints
- Opportunity
- Impact forces on market dynamics
- Impact forces during the forecast years
- Industry Value Chain
- Upstream analysis
- Downstream analysis
- Distribution Channel
- Direct Channel
- Indirect Channel
- Potential Customers
- Manufacturing/Operational Cost Analysis
- Pricing Analysis by Region
- Key Technology Landscape
- Regulatory Analysis
- Porter’s Analysis
- Supplier Power
- Buyer Power
- Substitution Threat
- Threat from New Entry
- Competitive Rivalry
- PESTEL Analysis
- Political Factors
- Economic Factor
- Social Factors
- Technological Factor
- Environmental Factors
- Legal Factor
- Covid-19 impact on Global Economy
- Covid-19 impact on Carborundum demand
- Post-Covid Impact on Carborundum Market Demand
- Impact Analysis of the Russia-Ukraine Conflict
- Drivers
- Global Carborundum Market Segmentation, by Volume (Kilo Tons) & Revenue (USD Billion), (2022-2030)
- By Type
- Black SiC
- Green SiC
- Metallurgical SiC
- Coated SiC
- Micro Grit SiC
- Refractory SiC
- By Application
- Steel & Energy
- Electronics & Semiconductors
- Automotive
- Aerospace & Defense
- Fabrication
- By Type
- Global Carborundum Market Overview, By Region
- North America Carborundum Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
- US
- By Product Type
- By Application
- Canada
- Mexico
- US
- Europe Carborundum Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
- France
- UK
- Spain
- Russia
- Italy
- BENELUX
- Asia Pacific Carborundum Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
- China
- Japan
- Australia
- South Korea
- India
- ASEAN
- North America Carborundum Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
- Latin America Carborundum Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
- Brazil
- Argentina
- Chile
- Middle East and Africa Carborundum Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
- GCC
- Turkey
- South Africa
- Global Carborundum Market Revenue: Competitive Analysis, 2021
- Key strategies by players
- Revenue (USD Billion and %), By manufacturers, 2021
- Player Positioning by Market Players, 2021
- Competitive Analysis
- Snam Abrasives Pvt. Ltd
- Business Overview
- Business Financials (USD Billion)
- Product Category, Type, and Specification
- Main Business/Business Overview
- Geographical Analysis
- Recent Development
- Swot Analysis
- KYOCERA Corporation
- Xiamen Powerway Advanced Material Company Limited
- Saint Gobain Ceramics Materials
- ESD-SIC BV
- Gaddis Mechanical Seals
- AGSCO Corp
- Norstel AB
- Carborundum Universal Ltd
- Imerys Graphite & Carbon
- Snam Abrasives Pvt. Ltd
- Market Research Findings & Conclusion
Disclaimer
Research Methodology
The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.