The crude silicon carbide oxide production in the US and Canada remained static at 25.9 million US dollars from 2013 to 2017. In 2018, a slight uptick to 26.0 million US dollars marked a 0.39% year-on-year increase. The values again stagnated in 2019 but fell in 2020 to 24.81 million US dollars, representing a -4.56% year-on-year drop due to market disruptions. A recovery followed with 5.6% growth in 2021, reaching 26.2 million US dollars, and continued modest growth leading to 26.37 million US dollars in 2023. The 5-year CAGR up to 2023 was 0.28%, but future forecasts suggest a 0.25% CAGR leading to a forecasted 26.79 million US dollars by 2028.
Future trends to watch for include potential industry shifts driven by technological advancements and sustainability initiatives. Innovations in production efficiency and increased demand for electronics and renewable energy solutions are likely to drive moderate growth in the crude silicon carbide oxide market.
