The increasing demand for the product in the electronics industry is fueling its demand in the market.
Market Size – USD 87.40 Million in 2018, Market Growth - CAGR of 3.7%, Market Trends – Expansion of electronics industries in emerging nations in the Asia Pacific region.
NEW YORK, May 29, 2019 (GLOBE NEWSWIRE) -- The Global Aluminum Nitride Market is forecast to reach USD 117.60 Million by 2026, according to a new report by Reports and Data.
Aluminum nitride is a non-toxic and synthetic ceramic material with hexagonal lattice that is majorly used in electronic devices. The high demand for Aluminum nitride is due to its unique combination of properties such as good thermal conductivity and electrical resistance. This provides electronic devices with the ability to offer electrical insulation all while maintaining lower operating temperature.
Aluminum nitride is preferred in several industries for high thermal conductivity, high electric insulation, and high mechanical strength. The property of thermal expansion of the product helps in high reliability in Si-chips and thermal heat cycling in the end use process. It is used in electronic devices where heat removal is an essential function.
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Asia Pacific leads the demand for Aluminum nitride owing to the high demand for electrical and electronics and expansion of the industry from the region. Japan, China, India, and South Korea are expected to boost the market in this region. Expansion of the automotive industry in the region is also anticipated to create ample opportunities for the Aluminum nitride market in the future.
Further key findings from the report suggest
- Aluminum nitride is used in applications that require high thermal conductivity and chemical resistance such as terminators, resistors, and high power microwave tube.
- The component is also used in evaporation boats, thermocouple insulators, grinding media and crystal growing cubicles.
- Power electronics is the application of solid-state electronics to the control and conversion of electric power. It held a market share of 19% in the year 2018 and can be observed to have a CAGR of 4.4% during the forecast period.
- Aluminum nitride finds its applications in high-performance ceramics owing to the high thermal conductivity, good dielectric and corrosion resistance property, and exceptionally high thermal conductivity.
- Materials based on Aluminum nitride are used for the application in metal castings. These metal castings are also used in place of small parts in automotive.
- On the basis of various methods available to synthesize Aluminum nitride, carbothermal, reduction and nitridation methods are the ones that are most commonly used.
- Nitridation is a process where heat diffuses nitrogen on the surface of a metal to form a case hardened surface. This method held a market share of 33% in the year 2018.
- Powder and granular forms of Aluminum nitride are forecasted to have an annual growth rate of 4.1% and 4.0% respectively.
- On the basis of grade, the market is segmented into technical grade and analytical grade.
- The analytical grade is forecasted to hold a market share of 56% in the year 2026, with a CAGR of 3.5% during the forecast period.
- North America has a high potential for growth in the Aluminum nitride market. The power sector is one of the major revenue generators in the market. The region is forecasted to have a CAGR of 4.3%.
- Expansion of the automotive industry in the Asia Pacific region is anticipated to create ample opportunities for the Aluminum nitride market in the future.
- Key participants include Accumet Materials Co., Surmet Corp, Desunmet Ceramic Material, Hefei Mok Advanced Material, Option Care Enterprises, Inc. Okuyama Corporation, Furukawa Co Ltd., Maruwa, Toyal America, Inc., C. Starck, Ferro-Ceramic Grinding Inc., among others.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Aluminum Nitride Market on the basis of Grade, Type, Form, Application, and Region:
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Technical Grade
- Analytical Grade
Form Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Powder
- Granules
- Sheet
Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Aerospace
- Carbothermal Reduction Method
- Nitridation Method
- Direct Nitridation Method
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
- Micro Electronics
- Naval Radio
- Power Electronics
- Aeronautical System
- Automotive
- Emission Control
- Others
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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