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Global Silicon Nitride (Reaction Bonded Silicon Nitride, Hot Pressed Silicon Nitride, Sintered Silicon Nitride) Market Forecast to 2023 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--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 Silicon Nitride Market is Estimated at USD 90 Million in 2018 and is Projected to Reach USD 127 Million By 2023, at a CAGR of 7.2% Between 2018 and 2023.

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 medical end-use industry segment is projected to witness the highest growth in the silicon nitride market among the end-use industries. In the medical industry, silicon nitride is used as a material for manufacturing surgical screws, plates, and bearings for use in applications such as prosthetic hips, knee joints, and dental implants. Silicon nitride composites are also used in cervical spacers and spinal fusion devices. It is biocompatible, bioactive, bacterial resistant, and shows superior bone affinity. Also, it can provide an exceptionally smooth and wear-resistant surface for applications such as bearings for hip and knee replacements in the medical industry. The market for silicon nitride in the medical industry is in the nascent stage and is expected to grow the fastest in the coming years.

Among the silicon nitride types, sintered silicon nitride is projected to grow the fastest during the forecast period. SSN exhibits properties such as high-temperature strength, superior thermal shock resistance, creep resistance, fracture toughness, oxidation resistance, and wear resistance. SSN is used in applications such as components in glow plugs in diesel engines, pre-combustion chambers, turbochargers, rocker arm pads in spark ignition engines, and components in exhaust gas control valves.

Market Dynamics

Drivers

  • Use of Silicon Nitride as an Alternative in the End-Use Industries

Restraints

  • High Manufacturing Cost

Opportunities

  • Use of Silicon Nitride in the Medical Industry
  • Adoption of Electric and Hybrid Vehicles

Challenges

  • Decline in Fossil Fuel-Based Vehicles
  • Effect of Chinese PV Market Impacting the Global Solar Photovoltaic Cell Manufacturing

Companies Mentioned

  • 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

For more information about this report visit https://www.researchandmarkets.com/r/nfdldk

» Publication Date: 10/05/2019

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This project has received funding from the European Union Seventh Framework Programme (FP7/2007-2013) under grant agreement n° [605658].

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