Silicon nitride, a non-oxide technical ceramic material, are known for their high hardness, strength and corrosion resistance. They can replace steel, carbide and alloy parts in applications involving wear and corrosion. In the automotive industry, silicon nitride finds usage in manufacturing of brake pads, piston pins, turbocharger components among others owing to its ability to withstand high pressures and temperatures. The increased demand for fuel efficient and lightweight vehicles is expected to drive the usage of lightweight silicon nitride components, thus propelling the growth of global Silicon Nitride Market.
The Global Silicon Nitride Market is estimated to be valued at US$ 54.92 Mn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the silicon nitride are 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. These players are investing in expanding their production capacities and research & development activities to expand their product portfolios.
The key opportunities in the market include growing demand from the automotive industry for lightweight high strength materials and usage of silicon nitride in cutting tools, bio ceramics and electronics applications owing to its inertness. The key players are also focusing on expanding their geographical reach in emerging markets of Asia Pacific and Middle East & Africa where growth opportunities exist.
Globally, the Silicon Nitride Market is expected to witness high growth in Asia Pacific region primarily due to increasing automotive production and manufacturing activities in China, India, Japan and South Korea. The growing middle class population and rising disposable incomes in the region is further expected to drive regional market growth during forecast period.
Market drivers: Increasing production of electric vehicles and hybrid electric vehicles present growth opportunity for usage of silicon nitride components to reduce vehicle weight. Silicon nitride offers properties of wear resistance, strength and durability required for critical engine components.
Market restrain: High manufacturing costs associated with production of silicon nitride due to involvement of complex processes. The Silicon Nitride Companies need to focus on optimizing manufacturing processes to reduce costs.
Segment Analysis
The Silicon Nitride Market is segmented by applications into automotive, aerospace, medical, electronics etc. The automotive segment dominates the market currently owing to increasing use of silicon nitride in powertrain and engine components where its properties like high temperature resistance, wear resistance etc are leveraged. Within automotive, silicon nitride used in turbocharger rotors and pistons account for majority share currently as they help improve efficiency and performance of gasoline and diesel engines.
Global Analysis
Regionally, Asia Pacific dominates the Silicon Nitride Market currently and is expected to remain the fastest growing region during the forecast period. This is due to presence of huge automotive production bases in China and Japan where silicon nitride finds increasing use. Besides, growing electronics and semiconductor industries in countries like China, South Korea, Taiwan are also driving the demand. North America and Europe are other major regions for Silicon Nitride Market. In North America, automotive and aerospace are the major end user industries whereas medical devices is a key application area in Europe.
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