The global silicon carbide market, valued at USD 3.30 billion in 2022, is forecasted to grow at a CAGR of 11.7% from 2023 to 2030. Its increased utilization in manufacturing refractory materials for the steel industry is expected to drive market growth. With its high-temperature resistance, silicon carbide is a key raw material for refractories used in kilns, furnaces, and reactors across industries like cast iron, steel, aluminum, and metal. The anticipated production expansion in these industries is poised to further boost the demand for refractory materials.

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