Global Silicon Nitride Market 2019-2023
Global Silicon Nitride Market: About this market
Silicon nitride is extensively used in energy and solar, automotive, aerospace, medical, and manufacturing industries owing to its better mechanical properties compared with other oxide-based ceramics. Technavio’s silicon nitride market analysis considers sales from the reaction bonded silicon nitride (RBSN), hot-pressed silicon nitride (HPSN), and sintered silicon nitride (SSN) segments. Our analysis also considers the sales of silicon nitride in APAC, Europe, MEA, North America, and South America. In 2018, the reaction bonded silicon nitride (RBSN) segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the rising use of RBSN in kiln furniture, thermocouple sheaths, welding nozzle, and welding jigs and fixtures, which are used across industries, will significantly help the market segment in maintaining its leading market position. Also, our global silicon nitride report has observed market growth factors such as the increasing demand for solar energy, rising use of silicon nitride in semiconductors, and growing demand for aluminum-silicon alloys. However, high processing cost of silicon nitride, disadvantages of silicon nitride panels, and high cyclic nature of the electronics industry may hamper the growth of the silicon nitride industry over the forecast period.
Global Silicon Nitride Market: Overview
Rising use of silicon nitride in semiconductors
The electrical and energy generation industries extensively use silicon nitride in semiconductor materials. Semiconductor materials are extensively used in electronic devices. With the growing sales of electronic products, owing to the high internet penetration, rising disposable income, digitalization, and robust supply chains, the sales of silicon nitride will rise. As a result, the rising use of silicon nitride in semiconductors will contribute to the growth of the global silicon nitride market at a CAGR of almost 8% during the forecast period.
Increasing demand for efficient silicon products
The demand for high-performance components from the solar energy, automotive, and medical industries is significant. These industries extensively use silicon nitride, which already has higher efficiency and conversion rates compared with its substitutes. However, vendors are constantly working on improving the efficiency of silicon nitrides to cater to specific demands from the end-users. They are using high-purity silicon to produce high-efficiency silicon nitride types such as RBSN, HPSN, and SSN for use in advanced photovoltaic solar panels and medical implants. Therefore, the trend of increasing demand for efficient silicon products will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global silicon nitride market during the forecast period 2019-2023, click here.
With the presence of several major players, the global silicon nitride market is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market position, and in line with this, this report provides a detailed analysis of several leading Silicon Nitride manufacturers, which include 3M Co., CeramTec GmbH, Denka Co. Ltd., Kyocera Corp., and Ube Industries Ltd.
Also, the silicon nitride market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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