CHICAGO, Feb. 16, 2023 /PRNewswire/ -- The Global Silicon Nitride Market size is projected to be USD 632.6 Million by 2030 growing at a CAGR of 7.3% from 2023 to 2030, as per a recent market report published by Cognitive Market Research. Increasing demand for advanced turbochargers for automobiles, product launches, and strategic developments such as partnerships and agreements is expected to drive the global silicon nitride market. For instance, in July 2022, Toshiba materials invested in expanding the production capacity of silicon nitride balls, which is expected to boost demand for the target market.
Major findings during the study of the Silicon Nitride Market:
- Increasing focus on environmental issues and emission regulations for light and heavy vehicles is one of the factors driving the market growth
- Increasing silicon nitride consumption coupled with the growing need for engine downsizing for optimum vehicle performance is supporting sales of turbochargers. This is expected to drive the growth of silicon nitride market
- The development of silicon nitride as a biocompatible material in the medical industry will further provide potential opportunities for the growth of the silicon nitride market in the coming years
- Based on type, the reaction-bonded silicon nitride segment is expected to hold the highest revenue share in the global market. This is attributed to increasing demand for mechanical fatigue and oxidation resistance, creep resistance, and ability to produce complex shapes comparatively quickly. Due to its unique properties, reaction-bonded silicon nitride is used as a fixture for positioning and transferring metal parts for procedures including induction heating and resistance welding, brazing, and soldering and others.
- Based on grades, the high-purity grades segment is expected to hold a significant revenue share during the forecast period. This is attributed to the growing demand for higher productivity, longer product life, and higher thermal shock resistance
- In application, the bearings & rollers segment is expected to witness steady revenue growth in the global market, due to extreme smoothness, higher hardness, lighter weight, and better corrosion resistance.
- Based on the end-use industries, the automotive segment is expected to witness a steady revenue growth over the forecast period. The automotive industry uses silicon nitride in several wear and combustion components of reciprocating engines where high--temperature stress is common. Also, silicon nitride is used in precision shafts, tappet spacers, axles, and cam followers
- The Asia Pacific market is expected to account for the largest revenue share in the global market during the forecast period. The increasing presence of major market players such as Denka Company Limited, Kyocera Corporation, and UBE Corporation in the region. Moreover, the growing number of electronics and semiconductor companies is increasing the demand for silicon nitride in the region
Read Full Market Analysis Silicon Nitride Market by Type (Reaction-Bonded Silicon Nitride [RBSN], Hot-Pressed Silicon Nitride [HPSN], Sintered Silicon Nitride [SSN], and Others) by Grade (Standard Grade, and High Purity Grade) by Application (Engine Components, Bearings & Rollers, Metal Working, Tubes & Pipes, Ceramic Cutting Materials, Led Devices, Seals & Rings and others) by End-Use Industry (Automotive, Aerospace, Medical, Photovoltaic, Electronics & Semiconductors, and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2018 - 2030
Silicon Nitride Industry Statistics:
Global Silicon Nitride Market | 2022 |
Global Revenue (USD Million) | 632.6 |
CAGR (2023 to 2030) | 7.3 % |
Key Type Share | Reaction-Bonded Silicon Nitride [RBSN]: 38.2% |
Key Grade Share | High Purity Grade: 61.8% |
Key Application Share | Bearings & Rollers: 31.2% |
Key End-Use Industry Share | Automotive: 31.1% |
Key Regional Share | Asia Pacific: 32.2% |
Growth and Trends for Silicon Nitride Market:
The growth factor of the global silicon nitride market is attributed to the increasing demand for silicon nitride material used as a semiconductor replacement material. The growing preference for electric vehicles and various other electronic devices is expected to fuel the growth of the global market. The use of silicon nitride has increased in the manufacturing of solar panels, which convert sunlight into electricity, leading to the growth of the market. Silicon nitride is used as an anti-reflective coating in solar photovoltaic panels, increasing the efficiency of solar photovoltaic panels. An increase in government support and subsidies for solar installation will drive market growth over the forecast period. Moreover, the growth of silicon nitride as a biocompatible material in the medical industry and the implementation of hybrid and electric vehicles are opportunities for various market players in the global market.
Read the Full Report with the Table of Contents and Consult with Author: https://www.cognitivemarketresearch.com/silicon-nitride-market-report
What was the impact of COVID-19 on Silicon Nitride Market?
The COVID-19 pandemic has badly impacted national revenue growth, including the slowdown of critical trade activities across several countries. The primary factor behind this slowdown is various countermeasures adopted by respective governments to curb the trajectory of this virus. As significant economies enforce precautionary lockdowns, a considerable gap between market supply and demand is created, resulting in increased difficulties for manufacturers and distributors to manage their respective operations effectively. This is also a factor that is anticipated to influence prospects for revenue growth. This can result in limiting the demand and revenue growth for this target market. There has been a severe impact on most industries, except life support, medical supplies, and silicon nitride.
Silicon Nitride MarketReport Scope
Silicon Nitride Market - Type Outlook (Revenue, USD Million, 2018-2030)
- Reaction-Bonded Silicon Nitride [RBSN]
- Hot-Pressed Silicon Nitride [HPSN]
- Sintered Silicon Nitride [SSN]
- Others
Silicon Nitride Market - Grade Outlook (Revenue, USD Million, 2018-2030)
- Standard Grade
- High Purity Grade
Silicon Nitride Market - Application Outlook (Revenue, USD Million, 2018-2030)
- Engine Components
- Bearings & Rollers
- Metal Working
- Tubes & Pipes
- Ceramic Cutting Materials
- Led Devices
- Seals & Rings and others
Industry Silicon Nitride Market - End-Use Outlook (Revenue, USD Million, 2018-2030)
- Automotive
- Aerospace
- Medical
- Photovoltaic
- Electronics & Semiconductors
- Others
By Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of APAC)
- Latin America (Brazil, Argentina, Columbia, Rest of Latin America)
- Middle East & Africa (GCC, Saudi Arabia, Turkey, Egypt, Rest of MEA)
List Of Key Companies Profiled:
- 3M
- AlzChem Group
- CeramTec
- Denka Company Limited
- H.C. Starck GmbH
- Kyocera Corporation
- Morgan Advanced Materials
- Toshiba Corporation
- Ube Industries, Ltd.
- Yantai Tomley Hi-Tech Advanced Materials
- Others
Related Reports to Silicon Nitride Market:
- Global Gallium Nitride Market is projected to reach USD 26.32 Billion by 2030
The global gallium nitride market is expected to reach USD 26.32 billion by 2030 growing at a CAGR of 4.1%. Increasing demand for energy-efficient gallium nitride devices and power semiconductors in wired communication is expected to propel market growth. The telecommunications sector is expanding as many internet service providers focus on offering networks with increased capacity, ubiquitous connectivity, and lower latency via optical fiber cables. The silicon carbide (SiC) and gallium nitride-based semiconductors are energy-efficient, offering greater power efficiency at a lower cost. The increasing use of technologically advanced gallium nitride systems in the defense and aerospace sector is anticipated to boost the market growth. The growth is attributed to the rising need for increased bandwidth, the performance reliability in radio communications, radars, electronic warfare, and others.
- Global Automotive Power Electronics Market is expected to reach USD 8.62 Billion by 2030
The global Automotive Power Electronics market is expected to reach USD 8.62 million by 2030 growing at a CAGR of 6.2%. The growing demand for advanced technologies in vehicles, increased use of electric cars due to the rising environmental concerns, and improved safety of automotive electronic control panels are driving the growth of the automotive electronics market. Technological advancements such as Advanced Driver Assistance Systems (ADAS), Electronic Stability Control (ESC), and Electronic Control Units (ECUs) are emerging in EVs and require power electronics to protect the system. Technological advancements have led to increased use of power electronics in vehicles. The increasing use of power electronics in electric vehicles leads to market growth over the forecast period. Rising environmental concerns due to increasing demand for electric vehicles due to pollution.
Other Related Reports:
- Global Power Electronics market was valued at USD 46.12 Billion by 2030, at 5.2% CAGR.
- Global Ceramic Ball market is projected to register a CAGR of 6.2% to reach USD 882.6 Million by the end of 2030.
Explore Other Cognitive Market Research's Chemical & Materials Industry Report
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