The global silicon carbide market reached USD 6.3 Billion in 2024. IMARC Group projects it to grow to USD 9.7 Billion by 2033, at a CAGR of 4.9% from 2025 to 2033, driven by increasing demand in electric vehicles, power electronics, and renewable energy systems for high-efficiency performance. https://www.imarcgroup.com/silicon-carbide-market