The Aluminum Nitride Market was valued at USD 154.89 million in 2024 and is forecasted to reach USD 221.99 million by 2032, with a CAGR of 4.61%. Industries are increasingly adopting aluminum nitride for its superior thermal conductivity in electronics, EVs, LEDs, and defense applications. Global aluminum production exceeding 69 million metric tons in 2023 ensures a stable raw material supply, with the U.S. dominating the North American market. Key players include KYOCERA, CoorsTek, and Toshiba Materials. The Technical Grade segment led the market in 2024, accounting for 66.20% market share, due to high demand for thermal conductivity substrates in electronics and EVs. The Microelectronics segment held the largest market share in 2024 at 48.30%, driven by its crucial role in thermal management for semiconductors and power transistors. Asia Pacific led the market in 2024 with a 52.80% market share, attributed to high-volume manufacturing clusters and growth in electric vehicles and consumer electronics. Recent developments include KYOCERA’s expansion of aluminum nitride substrate production lines in Japan to meet the increasing demand for EVs and power electronics.

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