Increasing demand for advanced turbochargers for automobiles is expected to drive global silicon nitride market during forecast period
According to TechSci Research report, “Global Silicon Nitride Market By Type, By Grade, By Product Type, By End-Use, By Region, Competition, Forecast & Opportunities, 2024”, the global silicon nitride market is expected to grow at a CAGR of around 7% during the forecast period. Silicon nitride is witnessing adoption in various industries on account of its hardness, toughness, strength, thermal & chemical stability, biocompatibility, bacterial resistance, wear & shock resistance and others. However, cost of silicon nitride is likely to hamper the growth of the market during forecast period.
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The global silicon nitride market is segmented based on type, grade, product type, end use, region and company. Based on type, the market can be segmented into Reaction Bonded Silicon Nitride (RBSN), Hot Pressed Silicon Nitride (HPSN), Sintered Silicon Nitride (SSN), and Others. Among these, Sintered Silicon Nitride (SSN) dominates the market and is also anticipated to register the highest growth during the forecast period. SSN exhibits properties such as high-temperature strength, superior thermal shock resistance, creep resistance, fracture toughness, oxidation resistance, and wear resistance due to which it is being used for a variety of applications.
UBE Industries, Ltd., Denka Company Ltd., AlzChem Group AG, H.C. Starck GmbH, Yantai Tomley Hi-Tech Advanced Materials Co. Ltd, 3M Company, CeramTec GmbH, Kyocera Fineceramics GmbH, Morgan Advanced Ceramics Plc., Toshiba materials Co., Ltd. and others are some of the leading players operating in global silicon nitride market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“Asia-Pacific is anticipated to be the largest and fastest growing market for silicon nitride during the forecast period. Additionally, China is projected to grow at the fastest pace owing to an increase in consumption of silicon nitride in the automotive industry. Furthermore, augmenting innovation and the rising demand for improved products in the end-use industries would propel demand for silicon nitride in the region in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Silicon Nitride Market By Type, By Grade, By Product Type, By End-Use, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global silicon nitride market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global silicon nitride market.
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