According to CoinMeta, a research report by Huatai Securities indicates that with the expansion of AI computing power and the increased power consumption of optical modules, aluminum nitride is expected to shift from an optional material to a necessary one due to its advantages such as high thermal conductivity, high insulation, and high thermal compatibility. Huatai Securities estimates that by 2027, optical modules will drive demand for high-end aluminum nitride powder to exceed 2,000 tons. On the supply side, Japanese companies are facing raw material shortages due to rare earth controls, and coupled with strong downstream demand, this mismatch between supply and demand is expected to drive up prices. Domestic companies are actively advancing their production capacity and introducing new customers, which may present opportunities for domestic substitution.