Industry Overview of Hexagonal Boron Nitride Market
Hexagonal boron nitride (HBN) refers to an isostructural layered ceramic material that is isostructural to graphite. It is non-toxic and ecological. HBN can be synthesized by nitriding or ammonalyzing boric oxide at increased temperatures. It forms interface compounds with reactive substrates. Hexagonal boron nitride is a highly effective insulator that exhibits outstanding thermal and mechanical properties, chemical inertness, lubricity, etc. Consequently, it finds extensive applications as a diffuser and lubricant in cosmetics formulations and skincare products. Hexagonal boron nitride is also utilized as a vital component in the production of electrical products.
How Big Is the Hexagonal Boron Nitride Market?
The global hexagonal boron nitride (HBN) market size reached a value of US$ 769.8 Million in 2022. It is projected to reach a value of US$ 991.0 Million by 2028, exhibiting a CAGR of 4.2% during 2023-2028.
Global Hexagonal Boron Nitride Industry Trends and Drivers:
The increasing demand for motorized and consumer electronics, such as portable computing devices, cellular phones, gaming systems, etc., is primarily driving the hexagonal boron nitride (HBN) market. Additionally, the widespread adoption of this material in the manufacturing of semiconductors and coolers, owing to the inflating levels of industrialization, is further bolstering the market growth. Besides this, the growing usage of value-added hexagonal boron nitride in formulating high-temperature protective release coatings and paints is acting as another significant growth-inducing factor. Moreover, it is gaining extensive traction in deep UV (DUV) optoelectronics, electron emitters, neutron detectors, etc., is positively influencing the global market. Apart from this, the rising usage of personal care products is also stimulating the market growth. Furthermore, the development of smart devices and appliances, on account of extensive investments in R&D activities by leading manufacturers and continuous technological advancements, is anticipated to fuel the hexagonal boron nitride (HBN) market over the forecasted period.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Type:
- Tubes
- Rods
- Powder
- Gaskets
- Plates and Sheets
- Others
Breakup by Application:
- Coatings/Mold Release/Spray
- Electrical Insulation
- Composites
- Industrial Lubricants
- Thermal Spray
- Personal Care (Including Cosmetics)
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Anest Iwata Corporation, Asahi Sunac Corporation, Castolin Eutectic, Graco Inc., Hydromer, IHI Corporation, J. Wagner GmbH, Larius S.r.l, Nordson Corporation, OC Oerlikon, Praxair Surface Technologies Inc. (Linde plc) and Samvardhana Motherson Group.
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