Silicon Carbide Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Silicon Carbide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Silicon Carbide Price Trend for First Half of 2023

Asia

The price trend of silicon carbide is dependent on the market activities of silicon dioxide and carbon, as they both serve as feedstock materials. During the first quarter, silicon carbide prices saw an increase with support from sustained demand and improved sales in the pharmaceutical sector.

Silicon Carbide Price Chart

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Additionally, factors such as the onset of the spring festival and ongoing tensions between Russia and Ukraine also positively influenced the price trend of silicon carbide. However, in the second quarter, prices took a sharp downturn owing to the decline in purchasing activities during this period. Simultaneously, the manufacturing industries contracted, ultimately leading to a decline in the silicon carbide price trend.

Europe

In the initial phase of the first quarter of 2023, silicon carbide prices surged due to high input costs and escalating inflation rates, propelling market momentum. In contrast, the second quarter witnessed a significant decline in silicon carbide prices. This decline was primarily attributed to reduced manufacturing activity and lower demand in the consumer sector. In addition to this, this decline in demand led to a significant rise in the level of inventories that increased the pressure on trading activities in the European countries, contributing to the falling trend of silicon carbide prices.

North America

In the first quarter of 2023, the rising cost of raw materials and strong demand sentiments in the domestic sector contributed to the upturn in silicon carbide prices. However, the second quarter failed to maintain this positive momentum, resulting in a decline in silicon carbide prices. Both domestic and international industries experienced a downturn in supply and demand, driving silicon carbide prices on a downward trajectory. Additionally, the global economy faced challenges that slowed the increase in oil prices and energy costs, further contributing to the decline in the silicon carbide price trend.

Analyst Insight

According to Procurement Resource, the price trend of Silicon Carbide is estimated to decline in the upcoming quarters as the demand from the downstream industries is falling consistently.

Procurement Resource provides latest prices of Silicon Carbide. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.