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The silicon carbide market was valued at US$ 712.85 million in 2019 and is projected to reach US$ 1,810.56 million by 2027; it is expected to grow at a CAGR of 12.5% from 2019 to 2027.
Silicon carbide, also known as carborundum, is a semiconductor material widely used in electronics and semiconductor industries. The physical hardness of silicon carbide makes it fit for use as an abrasive in processes such as honing, water jet cutting, grinding, and sand blasting.
It is also used in the components of pumps used to drill and extract the oil in oilfield applications. Rising demand for silicon carbide in various application industries has led to an increase in the investments by manufacturers, governments, and research institutes in its production.
Capital Goods stocks were trading with gains, with the S&P BSE Capital Goods index rising 244.48 points or 1.11% at 22320.98 at 09:49 IST. Among the components of the S&P BSE Capital Goods index, Adani Green Energy Ltd (up 3.61%), Kalpataru Power Transmission Ltd (up 2.17%),Thermax Ltd (up 1.95%),Bharat Forge Ltd (up 1.57%),Finolex Cables Ltd (up 1.37%), were the top gainers. Among the other gainers were Larsen & Toubro Ltd (up 1.2%), Grindwell Norton Ltd (up 0.96%), Carborundum Universal Ltd (up 0.95%), Lakshmi Machine Works Ltd (up 0.92%), and GMR Infrastructure Ltd (up 0.76%). On the other hand, Bharat Heavy Electricals Ltd (down 1.66%), Timken India Ltd (down 0.44%), and Havells India Ltd (down 0.26%) moved lower.
Capital Goods stocks were trading with gains, with the S&P BSE Capital Goods index rising 244.48 points or 1.11% at 22320.98 at 09:49 IST. Among the components of the S&P BSE Capital Goods index, Adani Green Energy Ltd (up 3.61%), Kalpataru Power Transmission Ltd (up 2.17%),Thermax Ltd (up 1.95%),Bharat Forge Ltd (up 1.57%),Finolex Cables Ltd (up 1.37%), were the top gainers. Among the other gainers were Larsen & Toubro Ltd (up 1.2%), Grindwell Norton Ltd (up 0.96%), Carborundum Universal Ltd (up 0.95%), Lakshmi Machine Works Ltd (up 0.92%), and GMR Infrastructure Ltd (up 0.76%). On the other hand, Bharat Heavy Electricals Ltd (down 1.66%), Timken India Ltd (down 0.44%), and Havells India Ltd (down 0.26%) moved lower.
Silicon Carbide Market Research Report by Product, by Application - Global Forecast to 2025 - Cumulative Impact of COVID-19 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Capital Goods stocks were trading in the positive zone, with the S&P BSE Capital Goods index rising 122.24 points or 0.58% at 21325.67 at 09:49 IST. Among the components of the S&P BSE Capital Goods index, Grindwell Norton Ltd (up 4.67%), Kalpataru Power Transmission Ltd (up 2.26%),Siemens Ltd (up 1.9%),Honeywell Automation India Ltd (up 1.66%),Adani Green Energy Ltd (up 1.63%), were the top gainers. Among the other gainers were GMR Infrastructure Ltd (up 1.4%), Bharat Electronics Ltd (up 0.78%), AIA Engineering Ltd (up 0.58%), Timken India Ltd (up 0.52%), and Larsen & Toubro Ltd (up 0.49%). On the other hand, Thermax Ltd (down 1.42%), Havells India Ltd (down 0.78%), and Bharat Forge Ltd (down 0.65%) moved lower.