- 200 Mesh
- 325 Mesh
- Others
Ferro Silicon Nitride Market size was valued at USD 4,273.6 million in 2022 and is expanded to grow at a significant CAGR of 3.9% over 2023-2029. 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.
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Despite the current adverse conditions, investing in R&D and technology to improve product lines will be the primary growth drivers for the ferro silicon nitride market in the short to medium term. Despite the high price, the increased demand for chemicals and materials to combat the pandemic COVID 19 led to a lack of raw materials for other products, hurting the ferro silicon nitride market supply system. Companies that are rapidly expanding their capacity to fulfill COVID-induced demand must be cautious when interpreting these unanticipated demand patterns.
The ferro silicon nitride market is projected to expand at a CAGR of 3.9% during the forecast period
Itaforte, YinChuan, ZhongHong Metallurgica, Futong Industry, Triveni Chemicals
Asia Pacific is the fastest-growing region for ferro silicon nitride market
Ferro Silicon Nitride Market size was valued at USD 4,273.6 million in 2022.