New York (US), Sept. 14, 2023 (GLOBE NEWSWIRE) -- Aluminum Nitride Market Overview
The study documents by MRFR state that the “Aluminum Nitride Market Research Report Information by Application, Method, Grade, Type, and Region - Forecast Till 2032”, the Aluminum Nitride market is predicted to expand substantially during the evaluation era from 2022 to 2032 at a sizable CAGR of closely 3.20%. The study documents suggest projections related to the global market's mounting revenue data, which will likely attain a market of USD 0.192 Billion by the end of 2032. As per the reports, the market was priced at almost USD 0.145 Billion in 2022.
Market Scope
The Aluminum Nitride market has recently advanced. The growing demand in the electronics industry is the main feature causing a rise in market performance.
The aluminum nitride market is witnessing growth due to its unique properties like high thermal conductivity and electrical insulation. These attributes make it valuable in applications like electronics, semiconductors, and LEDs, driving its demand in various industries.
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Competitive Analysis
The list of the top leaders across the global Market for Aluminum Nitride includes players such as:
- Precision Ceramics USA
- KYOCERA Corporation
- FURUKAWA CO., LTD.
- Morgan Advanced Materials
- TOSHIBA MATERIALS CO., LTD.
- CeramTec Group
- MARUWA Co., Ltd.
- Toyal Europe
- Toyal America, Inc.
- TOYO ALUMINIUM K.K
- Tokuyama Corporation
- Accumet Materials Co
- Merck KGaA
- Surmet Corporation
- Thrutek Applied Materials Co. Ltd.
- Nippon Light Metal Co., Ltd
- Ottokemi, H.C. Starck Tungsten GmbH
- SIENNA TECH
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 0.192 Billion |
| CAGR | 3.20% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018 & 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | type, grade, method, application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Increasing Demand in the Semiconductor Industry. |
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Market USP Covered
Market Drivers
The Aluminum Nitride market has recently advanced. The growing demand in the electronics industry is the main feature causing a rise in market performance. Furthermore, the rapid growth in the aerospace and automotive industry is also considered to be one of the vital parameters enhancing the growth of the global market. Moreover, factors such as research & development initiatives, widespread adoption of LEDs, rising demand in the electronics sector, growing automobile sector, and limitations of conventional materials are also likely to positively impact the development of the global market over the coming years.
Market Restraints
On the contrary, various aspects may harm expanding the global market for Aluminum Nitride. One of the main restraints in advancing the market's growth is the elevated prices allied with raw materials.
COVID-19 Impact
The COVID-19 pandemic has massively impacted the majority of industry sectors all around the world. The global health hazard has not only impacted public health but also caused a severe disruption in industrial operations of almost all kinds. The global market for Aluminum Nitride is no different than others. The restriction on manufacturing facilities from various end-use sectors has caused a major fall in revenue figures for the global market. On the contrary, with the market operations getting back on track, the market is anticipated to grow substantially over the review era.
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Segment Analysis
Among all the types, the high-purity segment ensured the leading position across the global market for aluminum nitride in 2022. The semiconductor sector primarily drives high-purity aluminum nitride. The gallium nitride (GaN) semiconductor device substrates comprise high-purity aluminum nitride.
Among all the grades, the technical grade category ensured the leading position across the global market for aluminum nitride in 2022. Aluminum nitride of the technical grade is respected for its outstanding thermal conductivity.
Among all the applications, the carbothermal reduction method segment ensured the leading position across the global market for aluminum nitride in 2022. The Carbothermal Reduction Method is known for producing aluminum nitride at a low cost. The process includes the high-temperature reaction of carbon (C) with aluminum oxide (Al2O3), frequently in the presence of a lot of nitrogen.
Among all the applications, the microelectronics segment ensured the leading position across the global market for aluminum nitride in 2022. Microprocessors and Integrated circuits (ICs) are two examples of microelectronic parts that generate substantial heat while operating. The durability and dependability of these devices rely on effective thermal control.
Regional Analysis
The study offers market data by region for North America, Asia-Pacific, Europe, and the Rest of the World.
The study documents by MRFR entail that The North American region ensured the prime position across the Aluminum Nitride market in 2022, with a maximum share of about 45.80%. The area is recognized for dynamic development contributors such as Mexico, Canada, and the U.S. The growing number of data centers and AI technologies is the primary aspect boosting the development of the regional Aluminum Nitride market. Furthermore, the high-performance computing solutions, persistent innovation & expansion of companies, and expansion of data center infrastructure are also projected to boost the regional market's growth over the coming years.
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The European Region is estimated to hold the second position across the Aluminum Nitride market over the assessment era. The area is recognized for dynamic development contributors such as Germany, France, and the U.K. The primary aspects boosting the development of the regional Aluminum Nitride market are the need for EV power electronics components, the focus on EV promotion & emissions reduction, and the role in the automobile sector.
The Asia-Pacific Region will grow at the maximum CAGR across the Aluminum Nitride market from 2023 to 2032. The area is recognized for dynamic development contributors such as China, India, and Indonesia. The primary aspect boosting the regional Aluminum Nitride market development is the presence of companies such as Opple Lighting launching their selection of LED products as energy efficiency and environmental sustainability gain importance in China and other APAC nations. Furthermore, factors such as growing urbanization and the region's enormous population are also likely to boost the regional market's development over the coming years.
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