Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global aluminium nitride market is segmented on the basis of application into microelectronics, naval radio, power electronics, aeronautical, system, emission control and other. Among these segments power electronic segment is expected to capture the highest market share in overall aluminium nitride market during the forecast period. This can be attributed to the rising demand for electronic technology led by various innovations for automotive and defense sector. Additionally, awareness for replacing conventionally used metal nitrides with aluminium nitrite is anticipated to contribute significant growth in the coming years.
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Global aluminium nitride market is expected to flourish at a CAGR of 5.3% during the forecast period. Additionally, the global Aluminium Nitride market is thriving on the back of high demand caused by superior physicochemical features such as high thermal conductivity, dielectric strength, hardness and purity over the forecast period.
In the regional market, North America captured the largest market share in overall aluminium nitride market and is expected to continue its dominance over the forecast period. Factors such as, easy availability of raw materials and rising use of micro electronic goods are expected to increase the demand for aluminum nitride, which is expected to boost the market growth. Asia Pacific is anticipated to contribute a significant CAGR during the forecast period. Increasing demand for electronic goods and equipment for heavy industries are key factors which are driving the growth of aluminium nitride market in Asia Pacific region.
Advancement of Technology
Growing demand for aluminium nitride in metal based products for various industries with different application has resulted in sophisticated technological advancement. Necessity for highly function and safe electronic devices is resulting in an increased demand for aluminium nitride over the forecasted period. Additionally, factors such as hardness, purity, material’s strength and resistivity coupled with sustainable technology in production and the relatively low cost of aluminium nitride, as compared to other metal nitrides are anticipated to showcase a significant growth for aluminium nitrate market. Good corrosion resistance and stability during semiconductor processing are some of the characteristic of aluminium nitride.
Rapid Urbanization
Rapid urbanization along with positive GDP figures of developed and developing nations such as U.S., China and others are projected to flourish the growth of aluminium nitride market in aeronautical system and defense products. In addition to this, favorable government initiatives and regulations regarding the benefits of individual safety while using aluminium nitrate metal products is anticipated to fuel the growth of aluminium nitride market.
In contrast, high cost associated with production of high purity aluminium nitride powder is expected to dampen the growth of aluminium nitrite market. Carbon footprints and environmental impact are some of the restraining factor in aluminium nitride market.
This report also provides the existing competitive scenario of some of the key players of the global Aluminium Nitride market which includes company profiling of Toshiba, Toyo Aluminium K.K, Accumet Materials Co, Surmet Corp, Hefei Mok Advanced Material, Desunmet Ceramic Material, Okuyama Corporation, Furukawa Co Ltd, Maruwa, Toyal America, Inc., H.C. Starck, Ferro-Ceramic Grinding Inc. and other key players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global Aluminium Nitride market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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