Silicon Nitride Market Expected to Collect 127 Million USD by 2023

Denka (Japan) and CeramTec (Germany) are the Leading Players in the Silicon Nitride Market

[109 Pages Report] The market size of Silicon Nitride is projected to grow from USD 90 million in 2018 to USD 127 million by 2023, at a compound annual growth rate (CAGR) of 7.2% during the forecast period. The major driving factors for the market are the use of silicon nitride as an alternative in end-use industries as it exhibits superior properties than the other ceramics being used. There is a need for high-performance materials in end-use industries such as automotive and aerospace.

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The leading players in the silicon nitride market can be classified into silicon nitride powder producers and fabricators of silicon nitride powder. The leading silicon nitride powder producers are UBE (Japan), Denka (Japan), AlzChem (Germany), H.C. Starck (Germany), and Yantai Tomley Hi-Tech Advanced Materials Co Ltd (China). The leading fabricators of silicon nitride are 3M (US), CeramTec (Germany), Kyocera Fine Ceramics (Japan), Morgan Advanced Ceramics (UK), Toshiba (Japan), Rogers Corporations (US), and CoorsTek (US). These players adopted acquisitions, new product launches, and agreements as key growth strategies between 2014 and 2018, which helped them increase their capacities and cater to the widening customer base.

Denka is one of the leading players in the silicon nitride market. The company manufactures silicon nitride under its electronics & innovative products business segment. Denka has its presence in APAC, North America, the Middle East & Africa, and Europe. The company’s product offering includes silicon nitride powder as well as silicon nitride substrates. Denka also adopted inorganic and organic growth strategies to maintain its position in the global silicon nitride market. In January 2019, the company has planned to make an investment for the expansion of its silicon nitride ceramic substrates manufacturing by three folds. The expansion is expected to help the company cater to the demand for silicon nitride in automotive applications. The plant is expected to be operational by 2021. In November 2018, Denka and Mitsubishi Materials Corporation (Japan) reached an agreement to jointly develop ceramic substrates that can be used in the power module for the motor drive of EVs and other eco-friendly vehicles. This would help Denka’s plan toward full-fledged mass production of ceramic substrates for EVs.

CeramTec (Germany) manufactures and distributes products such as aluminum oxide, piezo ceramics, silicate ceramics, zirconium oxide, aluminum nitride, silicon carbide, and silicon nitride. These products are used in end-use industries such as automotive, aerospace, machinery, electronics, and medical equipment. CeramTec acquires UK electro-ceramics business from Morgan Advanced Materials. Morgan Advanced Materials have business segments, namely, industrial, petrochemical, transportation, security & defense, energy, electronics, and healthcare. The company's subsidiary, Morgan Technical Ceramics, manufactures products such as alumina, aluminum nitride, diamond-like carbon, pyrolytic boron nitride, fused silica, silica zircon, silicon carbide, magnesium oxide, alumina silicates, mulita, silicon nitride, braze alloys, zirconia, and nilcra SiAlON. This acquisition by CeramTec is expected to increase the business of the company, which will serve the needs of end-use industries such as electronics, medical, and defense.

APAC is the largest silicon nitride market, and this trend is expected to continue until 2023. China accounted for the largest market in the region, followed by Japan, South Korea, and India in the year 2017. China is also projected to grow the fastest, in terms of consumption, between 2018 and 2023. There is an increase in the consumption of silicon nitride in the automotive industry. Growing innovation and the rising demand for improved products in the end-use industries are driving the use of silicon nitride in the region.

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