Dublin, May 10, 2019 (GLOBE NEWSWIRE) -- The "Silicon Nitride Market by Type (Reaction Bonded Silicon Nitride, Hot Pressed Silicon Nitride, Sintered Silicon Nitride), End-use Industry (Photovoltaic, Automotive, General Industrial, Aerospace, Medical), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The market size for silicon nitride was USD 83.6 million in 2017 and is projected to reach USD 127.0 million by 2023, at a CAGR of 7.2% from 2018.

APAC accounted for the largest share of silicon nitride market, globally. The silicon nitride market in APAC is projected to reach USD 62.6 million by 2023, registering a CAGR of 8.9% during the forecast period. The use of silicon nitride in the medical, aerospace, general industry, and automotive end-use segments is expected to witness high growth in APAC in the next five years.

Silicon nitride exhibits good mechanical properties and is lightweight and biocompatible. These properties make it a preferred material in end-use industries such as photovoltaic, automotive, aerospace, medical, and general industrial. Increasing demand from these end-use industries is expected to drive the market during the forecast period.

Silicon nitride is relatively expensive, but its price versus performance is better than its alternatives. Silicon nitride manufacturing is complex, and this increases its cost. For instance, hot pressed silicon nitride needs to be diamond grounded in order to obtain the desired shape. Both the price of grinding and equipment is high. Thus, the high cost acts as a major restraint to the demand for silicon nitride. However, the development of silicon nitride as a biocompatible material in the medical industry and the adoption of electric and hybrid vehicles are a major opportunity for various market players.

The leading players in the market have been segmented into two types, namely, silicon nitride powder manufacturers and fabricators of silicon nitride.

The leading players in the silicon nitride powder manufacturers are

  • 3M
  • Alzchem
  • Ceramtec
  • Coorstek
  • Denka
  • H.C. Stark
  • Kyocera Corporation
  • Morgan Advanced Materials
  • Rogers Corporation
  • Toshiba
  • UBE
  • Vesta Si
  • Yantai Tomley Hi-Tech Advanced Materials

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Silicon Nitride Market
4.2 Silicon Nitride Market, By Type
4.3 Silicon Nitride Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Use of Silicon Nitride as an Alternative in the End-Use Industries
5.2.2 Restraints High Manufacturing Cost
5.2.3 Opportunities Use of Silicon Nitride in the Medical Industry Adoption of Electric and Hybrid Vehicles
5.2.4 Challenges Decline in Fossil Fuel-Based Vehicles Effect of Chinese PV Market Impacting the Global Solar Photovoltaic Cell Manufacturing
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.4.1 Growth of Electric Vehicles
5.4.2 Growth of the Photovoltaic Industry

6 Silicon Nitride Market, By Type
6.1 Introduction
6.2 Reaction Bonded Silicon Nitride (Rbsn)
6.2.1 Poor Mechanical Properties Are Impacting the Market for Rbsn
6.3 Hot Pressed Silicon Nitride (Hpsn)
6.3.1 High Fabrication Cost is a Key Factor Hampering the Growth of This Silicon Nitride Type
6.4 Sintered Silicon Nitride (Ssn)
6.4.1 Economical Fabrication Process is Driving the Usage of Ssn in Various Applications
6.5 Others

7 Silicon Nitride Market, By End-Use Industry
7.1 Introduction
7.2 Automotive
7.2.1 Increasing Focus On Electric & Hybrid Vehicles to Drive the Market for Silicon Nitride
7.3 Photovoltaic
7.3.1 Increasing Solar Panel Installations to Drive the Demand for Silicon Nitride in the Photovoltaic Industry
7.4 General Industry
7.4.1 Use of Silicon Nitride for Cutting and Tooling Applications to Drive the Market in General Industries
7.5 Aerospace
7.5.1 Need for High-Performance Materials for Applications With Extreme Operating Environments is Driving the Demand for Silicon Nitride in the Aerospace Industry
7.6 Medical
7.6.1 Excellent Biocompatibility of Silicon Nitride Makes it a Suitable Material for Use in Medical Implants
7.7 Others

8 Silicon Nitride Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US Increasing Ev Sales and Rising Usage of Silicon Nitride in Medical Industry to Drive the Silicon Nitride Market in US
8.2.2 Canada Increasing Exports of Solar PV Cells is Driving the Demand for Silicon Nitride in Canada
8.2.3 Mexico Investment in End-Use Industries Such As Solar PV and Automotive is Expected to Drive the Market in Mexico
8.3 Apac
8.3.1 China Governmental Policy to Influence the Growth of Silicon Nitride Market in China
8.3.2 Japan Slow Growth in the Ev Sales and Competition From China's Solar PV Manufacturers to Impact the Silicon Nitride Market in Japan
8.3.3 South Korea Government Initiatives to Boost the Consumption of Silicon Nitride in South Korea
8.3.4 India Increasing Adoption of Ev to Drive the Market for Silicon Nitride in India
8.3.5 Rest of Apac
8.4 Europe
8.4.1 Germany Growing Automotive Manufacturing to Drive the Market for Silicon Nitride in Germany
8.4.2 France Increasing Orthopaedic Surgeries to Boost the Demand for Silicon Nitride in France
8.4.3 UK Rising PV Installations and Adoption of Evs to Drive the Consumption of Silicon Nitride in UK
8.4.4 Sweden Adoption of New Swedish Car Policies to Drive the Demand for Silicon Nitride Market in Sweden
8.4.5 Rest of Europe
8.5 Rest of World (Row)

9 Competitive Landscape
9.1 Overview
9.2 Competitive Scenario
9.2.1 Expansions
9.2.2 New Product Launches
9.2.3 Mergers & Acquisitions
9.2.4 Agreements/Collaborations

10 Company Profiles

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Related Topics: Chemicals