Global Silicon Nitride Market Size By Product (Reaction Bonded, Hot Pressed, Sintered), By End-User (Automotive, Medical, Aerospace), By Geographic Scope And Forecast
Report ID: 324879|No. of Pages: 202
Global Silicon Nitride Market Size By Product (Reaction Bonded, Hot Pressed, Sintered), By End-User (Automotive, Medical, Aerospace), By Geographic Scope And Forecast
Silicon Nitride Market Size And Forecast
Silicon Nitride Market size had a valuation of USD 121 Million in 2022. We expect that the market will reach a valuation of USD 239.78 Million by 2030, with an exceptional CAGR of 7.13% from 2024 to 2030.
The global Silicon Nitride Market is expanding due to the expansion of the automotive industry. With the growing demand for efficient engine technology, Silicon Nitride is becoming the material of choice for manufacturing engine rotors used in turbochargers. Along with this, other industries such as medicine, aerospace, solar, and other industries are also showcasing a higher preference for silicon nitride, which is expected to offer unique expansion opportunities for the key players. The Global Silicon Nitride Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Silicon Nitride Market Definition
Silicon Nitride is an advanced ceramic material that has better physical properties in comparison to other ceramic materials. Silicon Nitride has a chemical formula of Si3N4, which offers it better hardness, strength, toughness, and other physical characteristics. Silicon Nitride also has better resistance to high temperatures, making it an ideal material for such production operations.
It is particularly used commonly in gas turbines and automotive engines, which involve combustion at extremely high temperatures. In the automotive industry, various engine components, such as plugs and rotors, are manufactured using Silicon Nitride because of their resistance to temperature and shock. Furthermore, Silicon Nitride also has excellent conductivity and resistance to wear and tear, offering it higher demand in the market.
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Global Silicon Nitride Market Overview
There are many applications of Silicon Nitride which has offered it excellent market demand throughout the years. The primary drivers for the global Silicon Nitride Market are its applications in the automotive industry. In the automotive industry, Silicon Nitride is used for producing rotors for turbochargers due to Silicon Nitride having excellent resistance to higher temperatures and being lightweight.
Generally, the turbocharger rotors are manufactured using metals, which can get extremely hot upon exposure to higher temperatures and relatively heavy weight. On the other hand, rotors manufactured using Silicon Nitride are lightweight and can withstand higher temperatures without being damaged. Thus, the preference for Silicon Nitride has increased in recent years in the automotive industry.
The demand for Silicon Nitride in the automotive industry is estimated to increase more during the forecast period. However, the availability of alternative ceramic materials for Silicon Nitride is expected to hinder the market growth for Silicon Nitride products.
Global Silicon Nitride Market Segmentation Analysis
The Global Silicon Nitride Market is Segmented on the Basis of Product, End-User, And Geography.
Silicon Nitride Market, By Product
- Reaction Bonded
- Hot Pressed
- Sintered
Based on Product, the global market for Silicon Nitride has been segmented into reaction-bonded silicon nitride, hot-pressed silicon nitride, and sintered silicon nitride. The sintered Silicon Nitride segment is forecasted to acquire the largest market share, owing to its applications in the automotive industry for manufacturing turbocharger rotors. Due to its resistance to higher temperatures and lightweight profile, the demand for sintered Silicon Nitride is expected to rise further.
Silicon Nitride Market, By End-User
- Automotive
- Medical
- Aerospace
- Others
Based on End-User, the global market for Silicon Nitride is segmented into automotive, medical, aerospace, and others. The automotive industry segment is forecasted to be the largest segment in the market. Many of the applications of Silicon Nitride are for the manufacturing of various engine components. However, the demand for Silicon Nitride in the medical segment is estimated to boom exponentially, making it the fastest-growing segment in the market.
Silicon Nitride Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Based on Geography, the global market for Silicon Nitride has been bifurcated into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The Asia Pacific region will reign in the global market because of its well-developed automotive industry, the largest by size. Furthermore, the Asia Pacific region also has one of the largest pharmaceutical and chemical industries, owing to the rising demand for silicon nitride.
Key Players
The “Global Silicon Nitride Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Denka Company Limited, AlzChem Group, UBE Industries Ltd, CeramTec, KYOCERA Corporation, Coorstek, 3M, Rogers Corporation, and Toshiba Materials
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the players mentioned above globally.
Key Developments
- In January 2023, Denka Company Limited established a corporate fund worth $100 million with a California-based company named Pegasus Tech Ventures. This fund will be catered to Denka’s efforts to expand its presence in the chemical and ICT sectors.
- In November 2021, AlzChem Group announced changes to its corporate identity for an agile future.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Silicon Nitride Market. We cover the major impacting factors driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Silicon Nitride Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | Denka Company Limited, AlzChem Group, UBE Industries Ltd, CeramTec, KYOCERA Corporation, Coorstek, 3M, Rogers Corporation, and Toshiba Materials |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Exploratory data mining
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Data Collection Matrix
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Econometrics and data visualization model
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Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
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- Established market players
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The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
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Industry Analysis Matrix
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