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The global silicon carbide market size is projected to touch USD 7.18 billion by 2027, exhibiting a revenue-based CAGR of 16.1%.The aforementioned properties of Silicon carbide (SiC) semiconductors along with its advantages over silicon make it suitable in applications such as automotive and aerospace and defense industries. High-temperature resistant materials are widely used in these industries, thus, there is increasing adoption of SiC semiconductors in power electronics, which in turn is likely to drive the SiC market growth over the forecast period.

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