The rising demand for electric insulation, doping wafers, microwave tubes, plasma arc insulators and high-temperature furnace is driving the market growth. Increasing product demand from cosmetic and personal care products are fueling the market growth. Owing to excellent lubricating properties, hBN is used at a higher rate in pencil leads, dental cements, paints and cosmetic industries. Apart from this, it posses high thermal conductivity, chemical inertness, thermal expansion, and electric resistance has expanded its application areas.
The latest report by Value Market Research expects the Global Hexagonal Boron Nitride Market to reach USD 872.88 USD MN in 2022 and is expected to generate revenue of 1346.73 USD MN in 2030, growing at a CAGR of 5.57% between 2023 and 2030. The global hexagonal boron nitride stood at around XX.X Tons in 2022 and is expected to reach XX.X Tons in 2030, growing at a CAGR of around X.XX% between 2023 and 2030.
COATINGS & MOLD RELEASE EMERGED AS THE LEADING APPLICATION SEGMENT
On the basis of application, coating & mold release dominated the segment in 2018. Excellent properties such as high thermal stability, electrical insulation and superior lubricating properties are driving the segment demand across various end-user industries.
ASIA PACIFIC DOMINATED THE REGIONAL MARKET
In 2018, Asia Pacific led the regional market owing to booming electronic and electrical sector. Growing demand of product especially from China owing to leading producer of electronic gadgets, along with favorable government support to promote gadget production is contributing immensely in the market growth.
KEY PLAYERS OF THE MARKET
Some of the major players of the market are 3M, H.C.Starck, Momentive, Qingzhou Fangyuan, Saint-Gobain, YingKou Liaobin and Zibo Jonye Ceramic Technologies among others.
The global demand for hexagonal boron nitride market was valued at 762.51 USD MN in 2021 and is expected to generate revenue of 1168.67 USD MN in 2028, growing at a CAGR of 5.56% between 2022 and 2028. The global hexagonal boron nitride stood at around XX.X Tons in 2022 and is expected to reach XX.X Tons in 2030, growing at a CAGR of around X.XX% between 2023 and 2030.
Hexagonal boron nitride (hBN) also called, as White Graphite is a ceramic that structurally resembles the graphite. It posses excellent lubricating properties, chemical inertness, shock resistance, chemical insulation, better thermal conductivity, high load bearing and other properties. Owing to excellent properties, it is used in cosmetics, paints & coatings, electronics, and other end-use industries.
Market Dynamics
Owing to excellent properties of hexagonal boron nitride such as thermal conductivity, shock resistance, and the good dielectric property has driven the demand from electronic industry. Also, Growing demand of hBN from personal care industry due to excessive use in baby oils, skin care creams, hair care lotions and makeup products is fueling the market growth. However, high cost of product may obstruct the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of hexagonal boron nitride.
Market Segmentation
The broad hexagonal boron nitride market has been sub-grouped into application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Tubes
- Rods
- Powder
- Gaskets
- Plates and Sheets
- Other Types
By Application
- Coatings/Mold Release/Spray
- Electrical Insulation
- Composites
- Industrial Lubricants
- Thermal Spray
- Personal Care (Including Cosmetics)
- Other Applications
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for hexagonal boron nitride in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Hexagonal Boron Nitride Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the hexagonal boron nitride market include 3M, Höganäs AB, Showa Denko K.K., and Denka Company Limited among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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