The global Silicon Carbide market generated USD 3.69 billion revenue in 2023 and is projected to grow at a CAGR of 11.82% from 2024 to 2033. The market is expected to reach USD 11.28 billion by 2033. The expansion in production within both ferrous and non-ferrous industries is poised to fuel the demand for refractory materials, driving the demand for the silicon carbide industry.
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