?Aluminum Nitride Market Size, Share, Growth, Trends, and Forecast 2030??
Globally, the market for aluminum nitride was valued at USD 160.58 million. Forecasts indicate that by 2028, the value will have increased to USD 246.44 million at a Compound Annual Growth Rate (CAGR) of 5.50%.
Global Aluminum Nitride Market: Overview
With a projected value of USD 94.9 million in 2020, the global aluminum nitride market is projected to expand at a compound annual growth rate (CAGR) of 5.2% to reach USD 128.4 million by 2028. The chemical name for aluminum nitride is AIN, and it is also referred to as aluminum nitride. High heat conductivity metal with covalent connections is aluminum nitride. Aluminum oxide is reduced carbo-thermally in the presence of gaseous ammonia or nitrogen to generate aluminum nitride, a material with a hexagonal crystal structure. The three well-known properties of aluminum nitride—thermal conductivity, electric insulation, and mechanical strength—make its utilization highly beneficial across a wide range of end-use sectors. In comparison to other metal nitrides, aluminum nitride is an extremely pure metal nitride with low toxicity.
Global Aluminum Nitride Market: Growth Factors
The market is growing because aluminum nitride has this property that makes it thermally conductive. One of the main factors driving the market's development is the rise in demand for aluminum nitride powder from electric vehicles. The need for electronic substrates, optoelectronics, high thermal conductivity chip carriers, and the rapid advancement of technology are other factors driving the expansion of the global aluminum nitride market. The market for aluminum nitride is expanding as a result of rising government infrastructure initiatives, as well as rising consumer demand for functionality and safety. Furthermore, aluminum nitride possesses exceptional dielectric and corrosion resistance qualities, stability in semiconductor production settings, and excellent thermal conductivity with a thermal expansion coefficient comparable to silicon. It is therefore frequently utilized in high-performance ceramics.
Additionally, throughout the projected period, the key players' significant investments and technical advancements could present a development potential for the worldwide aluminum nitride market. In July 2021, HexaTech, Inc. declared the opening of their new single-crystal aluminum nitride (AlN) substrate product line, which is 2-inch in diameter and deep-UV transparent. However, a number of issues, including the prohibitive price of aluminum nitride and the negative environmental effects and carbon footprints associated with its extensive use, could provide significant obstacles to the expansion of the global market for aluminum nitride. The COVID-19 pandemic had a significant negative impact on market expansion. It also disrupted worldwide supply chains and resulted in low demand from end-use sectors, which in turn reduced revenue production.
Global Aluminum Nitride Market: Segmentation
Aluminum nitride is available in many forms, methods, grades, applications, and regions. The market for aluminum nitride is divided into sheets, granules, and powder based on the form. The market is divided into three categories based on method: carbothermal reduction, direct nitridation, and nitridation. There are two categories in the grade segment: technical grade and analytical grade. The application area is divided into several categories, including automotive, power electronics, micro electronics, naval radio, and aviation systems.
Global Aluminum Nitride Market: Regional Analysis
Given its substantial market share in the worldwide aluminum nitride industry, the Asia Pacific market is anticipated to grow rapidly. Asia Pacific leads the aluminum nitride market due to the region's strong demand for electronics and electrical products as well as the region's industrial expansion. The markets in this region are probably going to be enhanced by South Korea, China, Japan, and India. In the upcoming years, the aluminum nitride market is anticipated to have numerous opportunities due to the growth of the region's vehicle industry. Over the course of the forecast period, the markets in North America and Europe are also anticipated to significantly contribute to the growth of the worldwide aluminum nitride market.
Global Aluminum Nitride Market: Competitive Players
Some of the major players that are functioning in the global aluminum nitride market involve
Global Aluminum Nitride Market:?Segment Analysis
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