In terms of revenue, the Global Silicon Nitride Ceramics Market is expected to reach USD 740.5 Million by 2028, growing at a CAGR (Compound Annual Growth Rate) of 1.00% from 2022 to 2028.
The major use of ceramic substrates as an alternative to metals and alloys drives the growth of the Silicon Nitride Ceramics market. In addition, the rise in demand for compact microelectronics packaging solutions contributes significantly to the booming demand of Silicon Nitride Ceramics. Furthermore, the extensive usage of silicon nitride in automobile engines and parts for gas turbines, together with the turbocharger rotor, is also driving the expansion in this market. Other factors attributed to the market's growth include the increasing need for ceramic substrates in electronic applications and the rising demand for ceramic substrates in the power module industry.
Key Highlights from Report
· Based on Types, the High Thermal Conductivity Substrate segment dominates the Silicon Nitride Ceramics market with the highest market share and will continue its dominance in the forecast period. This is due to the growth in demand for this type of substrate for applications like automotive and defense.
· Among Applications, the Power Module segment accounted for the highest CAGR in the forecast period because of increased investments in renewable energy sources like solar & wind power.
· In terms of region, North America holds the considerable market share within the Silicon Nitride Ceramics market. This is due to the surging demand from the automotive sector in this region
The increased usage of ceramic substrates drives the Silicon Nitride Ceramics market growth as an alternative to metals and alloys. In addition, the intensification of the automotive industry is influencing the demand for Silicon Nitride Ceramics owing to the rising production of vehicles and the increasing demand for fuel-efficient and lightweight vehicles, which will likely fuel the demand and boost the market expansion. And other growth factors, such as the increase in demand for compact microelectronics packaging solutions, also accounted for the market growth. A regular substrate is extensively used ceramic substrates, as they meet the needs of insulating materials for applications in the power module. These regular substrates are utilized mainly in LED and heat sinks applications because they are low-cost.
The aerospace industry is the second-largest user of Silicon Nitride Ceramics, with a significant market share. The surging demand for fighter jets is causing the manufacturers to invest in research & development of novel technologies like Silicon Nitride Ceramics, which is also responsible for the increased demand for Silicon Nitride Ceramics in the global industry. Furthermore, there is high demand for Silicon Nitride Ceramics substrate in the electronics industry as a result of technology advancements, raw material affluence, expansion of innovative products, and escalating adoption of technologies will provide favorable market prospects.
On the other hand, the high procurement and raw material spending are likely to impede the market's growth.
North America market is anticipated to witness significant market growth, with the highest growth rate during the forecast period. The region’s market growth is attributable to the increasing demand from the automotive sector. In addition, the expanding demand from the automotive industry is expected for the largest revenue share in the Silicon Nitride Ceramics market, which is likely to fuel the regional market's growth in the future. Furthermore, the presence of crucial participants like Toshiba Corporation and Samsung SDI are significant contributors to this regional market.
The Global Silicon Nitride Ceramics Market is Segmented as follows
- High Thermal Conductivity Substrate
- Regular Substrate
- Other Types
- Power Module
- Heat Sinks
- Wireless Module
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Silicon Nitride Ceramics Market is
Toshiba Materials Co. Ltd. (Japan), Rogers Corporation (US), Kyocera Corporation (Japan), Maruwa Co. Ltd. (Japan), CoorsTek Inc. (US), Denka (Japan), Yantai Tomley Hi-tech Advanced Materials Co. Ltd. (China)
The Global Silicon Nitride Ceramics Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis