High demand for turbocharger, product launches, increasing strategic developments such as partnerships and agreements are key factors contributing to high CAGR of Silicon Nitride during forecast period.
Market Size – USD 88.1 million in 2018, Market Growth - CAGR of 7.5%, Market Trends – Product launches and research for silicon nitride products
NEW YORK, May 20, 2019 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global Silicon Nitride market was valued at USD 88.1 million in 2018 and is expected to reach USD 157.5 million by year 2026, at a CAGR of 7.5 percent.
Silicon Nitride (Si3N4), a non-oxide ceramic has an excellent combination of material properties. They are as light weighted as silicon carbide (SiC), but their microstructure gives them excellent thermal shock resistance and their high fracture toughness makes them resistant to impacts and shocks. Si3N4 Ceramics is used for balls bearings, ceramic forming tools and automotive components and even due to its high temperature resistance; it is used for welding process.
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Key manufacturers involved in the production of Si3N4 are found to be involved in the long term distribution agreement for the product with end-users across the globe. For instance, in February 2019, Kyocera Corporation has entered into an agreement with H.C.Starck Ceramics which allows Kyocera to use H.C.Starck technology to expand its ceramic business globally.
Rise in environmental worries and emission regulations for light duty as well as heavy duty vehicles will assist the demand for turbochargers and will push the demand for silicon nitride for the production of turbocharger rotors. Availability of alternative ceramic materials is found to be one of the key factors restraining the growth of this market over the forecast years.
Further key findings from the report suggest
- Silicon Nitride Market is fastest growing at a CAGR of 5% in Asia Pacific followed by Europe respectively. Asia Pacific segment is led by China owing to the markets for end-use industries i.e. automotive, medical and healthcare etc.
- Bearings and Metal working tools segment in a combined way dominated the market in 2018.
- Middle East & Africa in the global market is anticipated to account for small share and is expected to grow at slow pace over the near future.
- Sintered Reaction-Bonded segment will procure the highest CAGR in the global market during the forecast period.
- Automotive has dominated the market of end-users with a share of 45.5%.
- North America accounts for the second largest market share in this market at 27% due to huge amount EV sales and usage of silicon nitride in medical industry.
- Key participants include AlzChem, KYOCERA Corporation, UBE, Yantai Tomley Hi-tech Advanced Materials can produce all grades of Si3N4
- Recently, the application of Si3N4 in Aerospace and Aeronautical applications put forward some lucrative opportunities for the market to grow in the near future.
- The presence of iron impurities, brittle nature of Si3N4 ceramics and difficulty in fabrication shapes might act as the impeding factors for the market growth.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/silicon-nitride-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the Silicon Nitride market on the basis of product type, grade, application, end use, and region:
Product Type (Revenue, USD Million; 2016–2026)
- Reaction-Bonded
- Sintered Reaction-Bonded
- Hot Pressed
- LED/ Photovoltaic Grade
- Ceramic Grade
Grade (Revenue, USD Million; 2016–2026)
- Standard Grade
- High Purity Grade
Application (Revenue, USD Million; 2016–2026)
- Reciprocating Engine Components
- Metal working tools
- Bearings
- Turbochargers
- Electronic Circuit Manufacturing
- Medical Devices
- Solar Energy Industry
- Ceramics and Components
- LED Industry
- Others
End Use (Revenue, USD Million; 2016–2026)
- Automotive
- Aerospace
- Electronics and Semiconductor
- Medical and Healthcare
- Photovoltaic
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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