The global aluminium nitride market size was valued at USD 151.5 million in 2023. The industry is expected to expand from USD 159.8 million in 2024 to USD 246.5 million by 2032, exhibiting a CAGR of 5.6% over the study period.

Aluminium nitride is a versatile ceramic material that is popular for its superior electrical insulation attributes, mechanical strength, and excellent thermal conductivity. The surging focus on thermal management solutions, ongoing demand for energy-efficient electronics, and shift toward 5G networks is poised to lead to significant market growth as innovative materials are being looked after by industries to cater to evolving technological needs.

Moreover, the COVID-19 pandemic negatively influenced the market growth. The market witnessed a scarcity of raw materials and a drop in production owing to the halt in supply chains. In addition, there was a decline in growth due to the implementation of movement restrictions by governments of various nations globally. Fortune Business Insights™ provides this information in its research report, titled “Aluminium Nitride Market Size Report, 2024-2032”.

Aluminium Nitride Market Segmentation:

Electrical Insulation Attributes of the Product to Propel the Electrical & Electronics Segment Expansion

In terms of end-use industry, the market is divided into transportation, aerospace & defense, electrical & electronics, telecom, and others. The electrical & electronics segment registered the largest aluminium nitride market share in 2023. The product demonstrates more conductivity and electrical insulation features, which bolsters in demand in the electrical & electronics industry, impelling the segment growth.

On the geographical front, the aluminium nitride market is classified into Europe, the Middle East & Africa, North America, Asia Pacific, and Latin America.

Report Coverage

The report provides vital insights into the major driving and restraining factors impacting the market growth. In addition, it highlights the top trends, the impact of the COVID-19 pandemic on the market growth, and dominating segments. Additional aspects of the report include the strategic measures undertaken by leading companies to stand out from the competition.

Drivers and Restraints:

Improvement in Manufacturing Processes to Decrease Production Costs to Spur Market Growth

The market is witnessing the engagement of several companies in research and development for the optimization of manufacturing processes and reduction of production costs. Moreover, labor costs and energy consumption can be decreased through a more efficient manufacturing process. Production efficiency can be improved by advanced methods, including sintering optimization and chemical vapor deposition, which can generate ample opportunities for market growth by decreasing the production cost of the product.

However, the steep cost of production may hinder the aluminium nitride market growth.

Source- https://www.fortunebusinessinsights.com/aluminium-nitride-market-109543 

Regional Aluminium Nitride Insights:

North America Led Due to Quick Progress of the Telecom Industry

North America market for aluminium nitride accounted for the largest share in revenue in 2023. This is on the back of the quick progression of the telecom and automotive industries.

Asia Pacific captured a considerable share in 2023 due to growing consumer expenditure, which is bolstering the demand for electronic and electrical gadgets, augmenting product demand.

Competitive Landscape:

Key Companies Emphasize Expanding Geographical Footprint to Strengthen Their Position

The aluminium nitride market represents a highly consolidated structure with major companies, such as SPTS Technologies Ltd., Tokuyama Corporation, TOP SEIKO USA, Inc., AdValueTech.com, and Hunan Fushel Technology Limited, accounting for a significant share. These players are actively engaged in the expansion of their geographical footprint and have significant production capacities. A wide array of competitive strategies are being leveraged by these companies to outshine the competition. Several companies are focusing on mergers & acquisitions, capacity expansions, and joint ventures. Many players are also investing in new product development strategies for the launch of enhanced solutions.

List of Key Players Mentioned in the Aluminium Nitride Report:

• Tokuyama Corporation (Japan)

• SPTS Technologies Ltd. (U.K.)

• TOP SEIKO USA, Inc. (U.S.)

• Hunan Fushel Technology Limited (China)

• com (U.S.)

• KYOCERA Corporation (Japan)

• Morgan Advanced Materials (U.K.)

• CeramTec Group (Germany)

• Toyal Europe (France)

• Surmet Corporation (U.S.)