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Ultra-high purity silicon carbide is used to remove the impurities in LEDs. The increasing demand for light-emitting diodes (LEDs) is another key factor projected to fuel market growth over the coming years. In the U.S., R&D investments for 2019 amounted to USD 39.8 billion, which was around 17% of its sales, the highest among all the countries. semiconductor industry have increased at a CAGR of 6.6% from 1999 to 2019. For instance, R&D investments in the U.S. have invested large sums in these technologies, thereby positively impacting the development of semiconductors required for artificial intelligence, supercomputers, and data centers. Increasing penetration of these technologies, particularly in the U.S., is likely to remain a key factor contributing to the market growth.Ĭompanies in the U.S. The development of emerging technologies, such as quantum computing, artificial intelligence, and 5G technology, is also anticipated to provide new opportunities for market vendors. The growing utilization of renewable sources of energy for power generation around the globe is anticipated to drive the market for SiC power semiconductors. Thus, the demand for electric vehicles is expected to boost the growth of ultra-high purity silicon carbide semiconductors. Moreover, SiC power electronics are adopted in electric vehicle charging products, wind energy infrastructure, and industrial motor drives.
Power supplies and photovoltaic inverters are among the significant application areas of silicon carbide (SiC) semiconductors.
The rising penetration of electric vehicles and the growth of the renewable energy sector are projected to provide growth opportunities to market vendors. It is expected to expand at a CAGR of 14.8% from 2020 to 2027. The global ultra high purity silicon carbide market size is expected to reach USD 79.0 million by 2027. 15, 2021 (GLOBE NEWSWIRE) - The 'Ultra High Purity Silicon Carbide Market Size, Share & Trends Analysis Report by Application (Semiconductor, LEDs), by Region (North America, Europe, APAC, CSA, MEA), and Segment Forecasts, 2020-2027' report has been added to 's offering.