The global silicon nitride market is expected to post a CAGR close to 8% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled global silicon nitride market 2019-2023. (Graphic: Business Wire)
Silicon nitride is one of the most advanced engineering ceramics available as it provides an outstanding blend of thermal and mechanical properties. It has variable resistivity that enables electrical currents to move selectively through the semiconductor material. This characteristic of silicon nitride helps in the manufacturing of organic photovoltaics (OPV) for converting solar energy into electricity using an electronic junction. Commercially, silicon nitride is used in the fabrication of integrated circuits and the manufacture of consumer electronics such as displays, projectors, solar cells, gaskets, wearable electronic devices, and lighting devices. Currently, silicon nitride is used in electronic devices in the form of SSN. Thus, the development of advanced and compact consumer electronic devices will augment the growth of the global silicon nitride market during the forecast period.
As per Technavio, the increasing demand for efficient silicon products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global silicon nitride market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Silicon Nitride Market: Increasing Demand for Efficient Silicon Products
The growing demand for high- performance components from the solar energy, automotive, and medical industries will drive the growth of the global silicon nitride market during the forecast period. Advanced photovoltaic solar panels can be developed to utilize solar energy in numerous applications due to the high efficiency of silicon nitride. High-purity silicon is generally used to produce high-efficiency silicon nitride types such as RBSN, HPSN, and SSN. Silicon nitride helps optimize the efficiency of solar panels and the cost of the solar panel module. Thus, such applications in the end-user industries will drive the growth of the global silicon nitride market during the forecast period.
“Apart from the increasing demand for efficient silicon products, increasing investment opportunities in APAC is one other factor that is boosting the demand for silicon nitride. The wide availability of raw materials and inexpensive labor along with favorable government policies for foreign direct investment is leading to the growth of the energy and power, electronics, automotive, and medical industries in APAC. This, in turn, is expected to drive market growth for silicon nitride during the forecast period,” says a senior analyst at Technavio.
Global Silicon Nitride Market: Segmentation Analysis
This market research report segments the global silicon nitride market by type (reaction bonded silicon nitride, hot pressed silicon nitride, and sintered silicon nitride) and geographical regions (APAC, Europe, North America, South America, MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the high demand for advanced materials from the automotive industry.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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