Global Silicon Nitride Balls Market Size Is Set to Achieve Targets $18.3 Bn by 2030 With Growing CAGR of 7.5%
Zion Market Research
14 min read
Zion Market Research
[229 + Pages Research Study] According to a market research study published by Zion Market Research, the demand analysis of Global Silicon Nitride Balls Market size & share revenue was valued at around USD 18.3 billion in 2022 and is estimated to grow about USD 11.2 billion by 2030, at a CAGR of approximately 7.5% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Toshiba Corporation, Winsted, Precision Ball, ITI, CoorsTek Inc., Timken, Tsubaki Nakashima, THOMSON, Ortech, Redhill-balls, Sinoma, Salem Specialty Ball, Boca Bearing, SKF, Kyocera, Jiangsu jinSheng, Enduro, and others.
Washington, DC, July 29, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Silicon Nitride Balls Market By Size (0.5-Inch, 1-Inch, And 1.5-Inch), By Application (Aviation, Defense & Military, Machine Tools, Energy, Automotive, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Silicon Nitride Balls Market size & share in terms of revenue was valued at USD 18.3 billion in 2022 and it is expected to surpass around USD 18.3 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.5% during the forecast period 2023 to 2030.”
What are Silicon Nitride Balls? How big is the Silicon Nitride Balls Industry?
Silicon Nitride Balls Report Coverage & Overview:
Full ceramic and hybrid-ceramic bearings, which are employed in high-speed rotation, make use of silicon nitride balls as one of their component parts. For the record, the density of silicon nitride is less than half that of steel. This helps in lowering the centrifugal force that occurs during the rotation of bearings, which in turn enables quicker operating speeds. In addition, the substance in question contains a plethora of remarkable characteristics that were developed and manufactured specifically with a range of medical purposes in mind. According to the reports, silicon nitride possesses outstanding mechanical properties such as a high strength. This will, in the years to come, contribute to the product's already substantial level of appeal.
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Global Silicon Nitride Balls Market: Growth Dynamics
The rise of the global market will be driven by advantageous characteristics such as low thermal expansion and resilience to heat.
In compared to other types of structural ceramics, silicon nitride possesses a number of desirable qualities, including a strong resistance to thermal shock. This will be a major factor in the expansion of the global market for silicon nitride balls. Aside from this, the expansion of the global market will be driven by the presence of advantageous features such as high grinding efficiency, an extended product life, and lower levels of product contamination. In addition to this, the thriving automotive manufacturing industry will make a significant contribution to the expansion of the market in every region of the world. In addition, the extensive use of products in a wide variety of end-use industries, including aviation, defense and military, and wind energy, will propel the growth potential of the company in the years to come. In the years to come, the exponential growth of the market will be greatly aided by an increase in the amount of capital invested in the production of silicon nitride balls.
For example, in July 2022, Toshiba Materials Corporation Limited, a key producer and seller of silicon nitride products, announced that it would be allocating a large number of funds for the purpose of increasing the production capacity of silicon nitride balls in its newly established manufacturing unit located in Yokohama, Japan. This particular manufacturing unit was located in Japan. This action is anticipated to satisfy the demand for the product in Japan and to promote sales of the product throughout the Asia-Pacific region.
The global silicon nitride balls market is sectored into type, application, and region.
In type terms, the global silicon nitride balls market is segregated into 0.5-inch, 1-inch, and 1.5-inch segments. In addition to this, the 1-inch segment, which gathered nearly half of the global market share in 2022, is predicted to record the fastest CAGR in the forecast timeline. The growth of the segment in the ensuing years can be credited to the humongous demand for 1-inch-sized silicon nitride balls in various end-use industries owing to its hardness, reduced thermal expanding capacity, and lightweight features.
On the basis of the application, the silicon nitride balls industry across the globe is sectored into aviation, defense & military, machine tools, energy, automotive, and others segments. Furthermore, the automotive segment, which gained a sizable industry share of the global industry in 2022, is expected to lead the application segment in the upcoming years. The segmental surge in the forecast timeline can be subject to a rise in the production of vehicles across the globe along with the massive use of silicon nitride balls in vehicle production. In addition to this, these products improve vehicle performance and maintain its weight and this has increased its penetration in the automotive segment.
The global Silicon Nitride Balls market is segmented as follows:
By Size
0.5-inch
1-inch
1.5-inch
By Application
Aviation
Defense & Military
Machine Tools
Energy
Automotive
Others
Browse the full “Silicon Nitride Balls Market By Size (0.5-Inch, 1-Inch, And 1.5-Inch), By Application (Aviation, Defense & Military, Machine Tools, Energy, Automotive, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/silicon-nitride-balls-market
Competitive Landscape
Some of the main competitors dominating the global Silicon Nitride Balls market include -
Toshiba Corporation
Winsted
Precision Ball
ITI
CoorsTek Inc.
Timken
Tsubaki Nakashima
THOMSON
Ortech
Redhill-balls
Sinoma
Salem Specialty Ball
Boca Bearing
SKF
Kyocera
Jiangsu jinSheng
Enduro
Key Insights from Primary Research:
As per the analysis shared by our research analyst, the global silicon nitride balls market is projected to expand annually at the annual growth rate of around 7.5% over the forecast timespan (2023-2030)
In terms of revenue, the global silicon nitride balls market was evaluated at nearly $11.2 billion in 2022 and is expected to reach $18.3 billion by 2030.
The global silicon nitride balls market is anticipated to record massive growth over the forecast period owing to the immense penetration of products in a plethora of end-use industries such as defense & military, aviation, and wind energy.
In terms of size, the 1-inch segment is slated to register the fastest CAGR over the analysis period.
On the basis of application, the automotive segment is slated to dominate the segmental surge over the forecast period.
Region-wise, the European silicon nitride balls market is projected to register the highest CAGR during the assessment timeline.
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Regional Analysis:
According to the projections, Asia-Pacific will account for the majority of the world market within the foreseeable future.
It is projected that Asia-Pacific would experience profitable growth during the course of the analysis period. In 2022, Asia-Pacific accounted for more than 30 percent of the market share for silicon nitride balls worldwide. The rapid increase in car production in countries such as China, Thailand, Indonesia, South Korea, Malaysia, and India may be to blame for the expanding market in that region over the course of the evaluation period. The expansion of the market in the sub-continent will be shaped by the rising demand for the manufacture of automotive equipment as well as the maintenance of motor vehicles.
In addition, it is anticipated that the industry for silicon nitride balls would grow at the rate of compound annual growth rate (CAGR) that is the highest in the assessment timeline. An increase in investments in automotive production in countries such as Italy, Germany, the UK, and Spain is one of the primary growth driving elements of the sector in the region. Other growth driving factors in the region include an increase in tourism. In addition to this, an increase in the sale of high-value bearings for use in wind turbines and other industrial machinery will guide the trends of the area sector.
By Region
North America
U.S.
Canada
Rest of North America
Europe
France
UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Silicon Nitride Balls Market: Opportunities
Growing product penetration in the oil & gas sector to help the global market reach new milestones of growth
An increase in demand for products in the oil & gas exploration activities will open new growth opportunities for the silicon nitride balls market across the globe. Surging product demand for effective grinding media will generate new facets of growth for the global market. Resistance of the product to rust and oxidation along with its resistance to acids and alkalis will generate new growth dimensions for the market across the globe.
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