Ferro Silicon Nitride Market size was valued at USD 4,273.6 million in 2021 and is expanded to grow at a significant CAGR of 3.9% over 2022-2028. Ferro silicon nitride is a silicon-nitrogen compound with a chemical formula Si x N y. It’s a black, glossy powder that’s water insoluble. Because of its high melting point, Ferro Silicon Nitride is used to create refractory materials, steel mill products, and other industrial goods. It can also be used in the manufacture of electronic equipment. The ferro silicon nitride market is predicted to grow healthy throughout the forecast period due to technological advancements and application-specific breakthroughs. Market participants in the ferro silicon nitride market are adjusting their business models to the new normal by focusing on digitalization and using upcoming technologies like robotic automation and artificial intelligence. During the forecast period, top firms in the ferro silicon nitride market industry will continue to use mergers and acquisitions to acquire new technologies, improve portfolios, and leverage capabilities. The benefits it delivers, such as higher strength and improved corrosion resistance, thermal shock resistance, and abrasion resistance of steels, are driving the global market. The consumption of ferrosilicon nitride is significantly lower than that of traditional manganese and chromium alloys used for alloying in corrosion-resistant smelting steel. Most of the market share is held by 200 mesh ferrosilicon nitride, a form of ferrosilicon nitride with a particle size of 200 mesh. This is the most popular form, and it’s utilized in various applications, including refractory material, steel mills, and other things. It also has a diverse set of uses in various parts of the world.
Recent Market Developments:
In Feb 2021, Infineon to invest €2 billion in a new Malaysia frontend fab. The German semiconductor company is looking to fortify its position in power semiconductors by adding significant manufacturing capacities in the field of wide bandgap (SiC and GaN) semiconductors. The company is investing more than EUR 2 billion to build a third module at its site in Kulim, Malaysia.
In March 2022, Australian semiconductor developer BluGlass Limited has reached agreement to acquire a commercial Silicon Valley laser diode production facility lease and manufacturing equipment for just USD 2.5 million.