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Global Carbon Nitride Market to Reach USD 24 Million by 2026, Aided by Rising Demand for Super Hard Materials
According to a new report by EMR titled, ‘Global Carbon Nitride Market Report and Forecast 2021-2026’, the global market for carbon nitride is expected to grow at a CAGR of 15% in the forecast period of 2021-2026 to reach a value of USD 24 million by 2026.
The carbon nitride industry witnessed a healthy growth in the recent years owing to the rising demand for super hard materials. The Asia Pacific is a significant market for carbon nitride owing to the growing industrial activities. North America and Europe are also predicted to hold a significant share of the carbon nitride industry. This can be attributed to the growing power generation, electronics, and transportation in the regions. The rapidly expanding consumer electronics segments, especially with the rising penetration of the online retail platforms like Amazon.com (NASDAQ: AMZN) is expected to further propel the market growth.
The key trend guiding the growth of the global market for carbon nitride is sustainability. The rapid shift towards recyclable materials and renewable energy applications has increased the demand for carbon nitride. However, government regulations, manufacturing complexity, and financial instability could hamper the growth of the carbon nitride industry. In 2018, Reade International Corporation, one of the major producers of carbon nitride obtained International Organization for Standard (ISO) 9001 certificate for limiting risk through assessment of processes and improved quality standards and requirements. Such certifications among key players are expected to positively influence the market in the coming years.
Market Analysis by Application and Region:
- The market based on application can be divided into energy, electronics, film and coating, industrial, and others.
- The regional markets for carbon nitride include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The carbon nitride industry is being driven by the rising demand for super hard materials.
- The growing usage of the product in electronics and power generation industries is predicted to fuel the market growth.
- Increased investments in research and development for alternative energies are projected to further aid the market growth.
- The adoption of carbon nitride in thin-film coating production is also providing an impetus for market growth.
- The market is expected to receive a further boost from the growing construction and industrial activities.
Key Offerings of the Report:
- The EMR report gives an overview of the global market for carbon nitride for the periods (2016-2020) and (2021-2026).
- The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications and major regions of carbon nitride.
- It assesses the regional price trends for the (2016-2020) and (2021-2026) periods.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.
The major players in the global carbon nitride market are Reade International Corp., Nanochemazone, and Tokyo Chemical Industry Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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