| Product Code: ETC4704131 | Publication Date: Nov 2023 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 | |
Latvia`s silicon carbide import market in 2024 continued to be dominated by top exporting countries such as the USA, Poland, Germany, Estonia, and China. The market concentration, as measured by the HHI, remained at a very high level, indicating a strong market hold by these key players. The impressive compound annual growth rate (CAGR) of 77.85% from 2020 to 2024 reflects the rapid expansion of the market. Additionally, the growth rate of 43.41% from 2023 to 2024 suggests sustained momentum in import shipments, pointing towards a positive outlook for the industry in Latvia.
By 2027, Latvia's Silicon carbide market is forecasted to achieve a stable growth rate of 0.76%, with Germany leading the Europe region, followed by United Kingdom, France, Italy and Russia.
![]()
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Latvia Silicon carbide Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Silicon carbide Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Silicon carbide Market - Industry Life Cycle |
3.4 Latvia Silicon carbide Market - Porter's Five Forces |
3.5 Latvia Silicon carbide Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Latvia Silicon carbide Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Silicon carbide Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for silicon carbide in the electronics industry for applications such as semiconductors and LEDs. |
4.2.2 Growing adoption of silicon carbide in the automotive sector for manufacturing components like power electronics and electric vehicle charging systems. |
4.2.3 Favorable government initiatives and policies promoting the use of silicon carbide in various industries. |
4.3 Market Restraints |
4.3.1 High initial investment required for setting up silicon carbide production facilities. |
4.3.2 Volatility in raw material prices impacting the production cost of silicon carbide. |
4.3.3 Competition from other advanced materials like gallium nitride affecting the market growth. |
5 Latvia Silicon carbide Market Trends |
6 Latvia Silicon carbide Market Segmentations |
6.1 Latvia Silicon carbide Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Silicon carbide Market Revenues & Volume, By Black Silicon Carbide, 2021-2031F |
6.1.3 Latvia Silicon carbide Market Revenues & Volume, By Green Silicon Carbide, 2021-2031F |
6.2 Latvia Silicon carbide Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Latvia Silicon carbide Market Revenues & Volume, By Steel, 2021-2031F |
6.2.3 Latvia Silicon carbide Market Revenues & Volume, By Automotive, 2021-2031F |
6.2.4 Latvia Silicon carbide Market Revenues & Volume, By Aerospace, 2021-2031F |
6.2.5 Latvia Silicon carbide Market Revenues & Volume, By Military & Defense, 2021-2031F |
6.2.6 Latvia Silicon carbide Market Revenues & Volume, By Electrical & Electronics, 2021-2031F |
6.2.7 Latvia Silicon carbide Market Revenues & Volume, By Healthcare, 2021-2031F |
7 Latvia Silicon carbide Market Import-Export Trade Statistics |
7.1 Latvia Silicon carbide Market Export to Major Countries |
7.2 Latvia Silicon carbide Market Imports from Major Countries |
8 Latvia Silicon carbide Market Key Performance Indicators |
8.1 Percentage increase in research and development investment for silicon carbide technologies. |
8.2 Number of partnerships and collaborations for the development of silicon carbide-based products. |
8.3 Growth in the number of patents filed for silicon carbide applications. |
8.4 Increase in the number of silicon carbide-related conferences and exhibitions attended by industry players. |
9 Latvia Silicon carbide Market - Opportunity Assessment |
9.1 Latvia Silicon carbide Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Latvia Silicon carbide Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Silicon carbide Market - Competitive Landscape |
10.1 Latvia Silicon carbide Market Revenue Share, By Companies, 2024 |
10.2 Latvia Silicon carbide Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |