Press release
Silicon Nitride Market is Expected to Soar in the Upcoming Years 2024 - 2031 | 3M, UBE Industries, Denka Company Limited
Silicon Nitride Market
The Silicon Nitride Market is estimated to be valued at USD 54.92 Mn in 2024 and is expected to reach USD 94.74 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Market Dynamics:
The global silicon nitride market is expected to witness significant growth over the forecast period, owing to the increasing demand from the automotive industry. Silicon nitride materials are increasingly being used to manufacture engine components such as turbocharger rotor bearing, due to its high strength and heat resistant properties. Its use helps improve fuel efficiency and reduces emission. Additionally, silicon nitride ceramics offer wheel bearing life that is 2-3 times longer than conventional materials such as aluminum bronze. Growing environmental concerns are driving automakers to focus on lightweight and high-efficiency components, thereby boosting the adoption of silicon nitride.
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Growing Applications in Medical Industry is Driving the Silicon Nitride Market
Silicon nitride has excellent mechanical and biocompatibility properties which has led to the rising adoption in medical applications like orthopedic implants, dental implants and prosthetics. Silicon nitride cervical spine implants provide better wear resistance compared to metal or plastic implants helping improve patient quality of life. In addition, its high strength to weight ratio allows lighter load bearing implants. Furthermore, silicon nitride bio ceramic materials face minimal rejection from body tissues and do not corrode, increasing implant lifetime. Rising geriatric population suffering from age related disorders like arthritis driving demand for joint replacement implants made from silicon nitride. Overall, expanding application of silicon nitride in biomedical industry due to its inherent advantage over other materials is spurring market growth.
Expanding Photovoltaic Industry Presents an Opportunity for Silicon Nitride Market
Rising global solar PV installations to meet renewable energy targets and falling solar module prices are driving usage of silicon nitride based antireflective coatings. Silicon nitride coating improves solar cell efficiency by reducing light reflection. It provides mechanical strength and corrosion resistance allowing thinner wafers. Leading solar cell manufacturers are adopting silicon nitride as antireflective coating on both monocrystalline and polycrystalline wafers. In addition, its dielectric properties enable use as passivation layers between silicon and electrodes minimizing recombination losses. Expanding solar PV industry especially in Asia pacific due to favorable government incentives and falling battery storage costs will drive demand for silicon nitride coatings and layers. This presents an opportunity for market players to increase market share through partnerships with solar cell producers.
Growing Demand for Silicon Nitride in Microelectronics will Drive Market Trends
Silicon nitride is increasingly replacing traditional dielectric silicon dioxide in manufacturing microelectronic devices and circuits owing to reduced leakage current, higher dielectric strength and resistivity to defects. Advanced 10nm and 7nm CMOS manufacturing technology requires low leakage current high-k materials like silicon nitride to minimize gate leakage. It enables shrinking device dimensions resulting in faster and more power efficient semiconductors. In addition, semiconductor foundries are adopting silicon nitride as a gate dielectric, passivation layer and spacers in FinFET devices ensuring long term trends. Expanding consumer electronics, 5G infrastructure, IoT, artificial intelligence, cloud computing and automation trends driving investments in advanced node semiconductor manufacturing bolstering silicon nitride consumption. Emerging applications like power semiconductors, MEMS devices and quantum computing also contribute to market trends.
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Top Companies Featured in This Report:
★ 3M
★ UBE Industries
★ Denka Company Limited
★ AlzChem Group AG
★ KYOCERA Corporation
★ CeramTec
★ CoorsTek
★ Toshiba Materials Co.
★ Vesta Ceramics
★ Morgan Advanced Materials
★ Rogers Corporation
★ Reade International Corp
Market Segmentation:
By Product Type:
★ By Type: Reaction bonded silicon nitride (RBSN) , Hot pressed silicon nitride (HPSN) , Sintered silicon nitride (SSN)
★ By End-Use Industry: Photovoltaic , Automotive , General industrial , Aerospace , Medical , Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Silicon Nitride Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Silicon Nitride market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Silicon Nitride market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Silicon Nitride market.
Segment Analysis: Examining the market value and sales volume of Silicon Nitride by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Silicon Nitride market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Silicon Nitride sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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