The global hexagonal boron nitride (HBN) market size reached US$ 769.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 991.0 Million by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
Hexagonal boron nitride (hBN) is an isostructural layered ceramic material that is isostructural to graphite. The atomic structure of HBN consists of alternating boron and nitrogen atoms, and it is considered to be a non-toxic and ecological material. By nitriding or ammonalyzing boric oxide at elevated temperatures, hexagonal boron nitride powder can be synthesized. Despite its inert properties, hBN's chemical precursors can form interface compounds with reactive substrates at very high temperatures, especially if the hBN is formed at high temperatures. As a highly effective insulator with outstanding thermal and mechanical properties, chemical inertness, and lubricity, it finds widespread industrial applications. Consequently, it is extensively used as a diffuser and lubricant in cosmetics formulations, skincare and makeup products, and also as a vital component in the production of electronic and electrical products.
Hexagonal Boron Nitride (HBN) Market Trends:
The market is majorly driven by the escalating demand for numerous consumer and motorized electronics, such as cellular phones, portable computing devices, and gaming systems, among the masses. This can be attributed to the growing adoption of hBN in the manufacturing of coolers and semiconductors and numerous electronic parts and components. In addition to this, a considerable rise in the sales of personal care and cosmetics products is impacting the market positively. Moreover, the widespread adoption of hBN in formulating high-temperature protective release coatings and paints is providing an impetus to the market. Besides this, the rapid product utilization in emerging applications, such as deep UV (DUV) optoelectronics, neutron detectors, and electron emitters, are creating a positive outlook for the market. Some of the other factors that are contributing to the market growth include rapid urbanization and industrialization, the increasing sales of smart devices and appliances, the introduction of value-added product variants, continual technological advancements and extensive research and development (R&D) activities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hexagonal boron nitride (HBN)market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.
Breakup by Type:
Plates and Sheets
Breakup by Application:
Personal Care (Including Cosmetics)
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, American Elements, Compagnie de Saint-Gobain S.A., Denka Company Limited, Grolltex Inc, Henze Boron Nitride Products AG, Höganäs AB, Kennametal Inc., Showa Denko K.K, Supervac Industries LLP, UK Abrasives Inc. and ZYP Coatings Inc.
Base Year of the Analysis
Type, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
3M Company, American Elements, Compagnie de Saint-Gobain S.A., Denka Company Limited, Grolltex Inc, Henze Boron Nitride Products AG, Höganäs AB, Kennametal Inc., Showa Denko K.K, Supervac Industries LLP, UK Abrasives Inc. and ZYP Coatings Inc.
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Key Questions Answered in This Report
The global Hexagonal Boron Nitride (HBN) market was valued at US$ 769.8 Million in 2022.
We expect the global Hexagonal Boron Nitride (HBN) market to exhibit a CAGR of 4.2% during 2023-2028.
The rising adoption of Hexagonal Boron Nitride (HBN) as a highly effective insulator in various industrial applications, owing to its outstanding thermal and mechanical properties, chemical inertness, lubricity, etc., is primarily driving the global Hexagonal Boron Nitride (HBN) market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for Hexagonal Boron Nitride (HBN).
Based on the type, the global Hexagonal Boron Nitride (HBN) market has been segregated into tubes, rods, powder, gaskets, plates and sheets, and others. Among these, tubes currently hold the largest market share.
Based on the application, the global Hexagonal Boron Nitride (HBN) market can be bifurcated into coatings/mold release/spray, electrical insulation, composites, industrial lubricants, thermal spray, personal care (including cosmetics), and others. Currently, coatings/mold release/spray exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global Hexagonal Boron Nitride (HBN) market include 3M Company, American Elements, Compagnie de Saint-Gobain S.A., Denka Company Limited, Grolltex Inc, Henze Boron Nitride Products AG, Höganäs AB, Kennametal Inc., Showa Denko K.K, Supervac Industries LLP, UK Abrasives Inc., and ZYP Coatings Inc.
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