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CHICAGO , Feb. 16, 2023 /PRNewswire/ -- The Global Silicon Nitride Market size is projected to be USD 632.6 Million by 2030 growing at a CAGR of 7.3% from 2023 to 2030, as per a recent market report published by Cognitive Market Research. Increasing demand for advanced turbochargers for automobiles, product launches, and strategic developments such as partnerships and agreements is expected to drive the global silicon nitride market.  For instance, in July 2022 , Toshiba materials invested in expanding the production capacity of silicon nitride balls, which is expected to boost demand for the target market.

Major findings during the study of the Silicon Nitride Market:

Read Full Market Analysis Silicon Nitride Market by Type (Reaction-Bonded Silicon Nitride [RBSN], Hot-Pressed Silicon Nitride [HPSN], Sintered Silicon Nitride [SSN], and Others) by Grade (Standard Grade, and High Purity Grade) by Application (Engine Components, Bearings & Rollers, Metal Working, Tubes & Pipes, Ceramic Cutting Materials, Led Devices, Seals & Rings and others) by End-Use Industry (Automotive, Aerospace, Medical, Photovoltaic, Electronics & Semiconductors, and Others) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2018 – 2030

Growth and Trends for Silicon Nitride Market:

The growth factor of the global silicon nitride market is attributed to the increasing demand for silicon nitride material used as a semiconductor replacement material. The growing preference for electric vehicles and various other electronic devices is expected to fuel the growth of the global market. The use of silicon nitride has increased in the manufacturing of solar panels, which convert sunlight into electricity, leading to the growth of the market.  Silicon nitride is used as an anti-reflective coating in solar photovoltaic panels, increasing the efficiency of solar photovoltaic panels. An increase in government support and subsidies for solar installation will drive market growth over the forecast period. Moreover, the growth of silicon nitride as a biocompatible material in the medical industry and the implementation of hybrid and electric vehicles are opportunities for various market players in the global market.

Read the Full Report with the Table of Contents and Consult with Author: https://www.cognitivemarketresearch.com/silicon-nitride-market-report

What was the impact of COVID-19 on Silicon Nitride Market?

The COVID-19 pandemic has badly impacted national revenue growth, including the slowdown of critical trade activities across several countries. The primary factor behind this slowdown is various countermeasures adopted by respective governments to curb the trajectory of this virus. As significant economies enforce precautionary lockdowns, a considerable gap between market supply and demand is created, resulting in increased difficulties for manufacturers and distributors to manage their respective operations effectively. This is also a factor that is anticipated to influence prospects for revenue growth. This can result in limiting the demand and revenue growth for this target market. There has been a severe impact on most industries, except life support, medical supplies, and silicon nitride.

Silicon Nitride Market Report Scope

Silicon Nitride Market - Type Outlook (Revenue, USD Million, 2018–2030)

Silicon Nitride Market - Grade Outlook (Revenue, USD Million, 2018–2030)

Silicon Nitride Market - Application Outlook (Revenue, USD Million, 2018–2030)

Industry Silicon Nitride Market - End-Use Outlook (Revenue, USD Million, 2018–2030)

List Of Key Companies Profiled:

Related Reports to Silicon Nitride Market:

The global gallium nitride market is expected to reach USD 26.32 billion by 2030 growing at a CAGR of 4.1%. Increasing demand for energy-efficient gallium nitride devices and power semiconductors in wired communication is expected to propel market growth. The telecommunications sector is expanding as many internet service providers focus on offering networks with increased capacity, ubiquitous connectivity, and lower latency via optical fiber cables. The silicon carbide (SiC) and gallium nitride-based semiconductors are energy-efficient, offering greater power efficiency at a lower cost. The increasing use of technologically advanced gallium nitride systems in the defense and aerospace sector is anticipated to boost the market growth. The growth is attributed to the rising need for increased bandwidth, the performance reliability in radio communications, radars, electronic warfare, and others.

The global Automotive Power Electronics market is expected to reach USD 8.62 million by 2030 growing at a CAGR of 6.2%.  The growing demand for advanced technologies in vehicles, increased use of electric cars due to the rising environmental concerns, and improved safety of automotive electronic control panels are driving the growth of the automotive electronics market. Technological advancements such as Advanced Driver Assistance Systems (ADAS), Electronic Stability Control (ESC), and Electronic Control Units (ECUs) are emerging in EVs and require power electronics to protect the system. Technological advancements have led to increased use of power electronics in vehicles. The increasing use of power electronics in electric vehicles leads to market growth over the forecast period. Rising environmental concerns due to increasing demand for electric vehicles due to pollution.

Explore Other Cognitive Market Research's Chemical & Materials Industry Report

Cognitive Market Research has evolved as one of the leading market research and consulting firms providing services across multiple domains. Our expert team of researchers gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we gather information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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