NEW
YORK, July 18, 2024 /PRNewswire/ -- The global
hexagonal boron nitride market size is estimated to grow by
USD 345.2 million from 2023-2027,
according to Technavio. The market is estimated to grow at a CAGR
of almost 6.35% during the forecast period. Abundance of
boron minerals is driving market growth, with a trend
towards commercialization of boron nitride nanotubes.
However, high cost of hexagonal boron nitride poses a
challenge. Key market players include 3M Co., American Elements, BORTEK Boron
Technologies and Mechatronic Inc., Compagnie de Saint Gobain, Denka
Co. Ltd., Henze Boron Nitride Products AG, Hoganas AB, JFE Holdings
Inc., Kennametal Inc., KYOCERA Corp., Liaoning PengDa technology
Co. Ltd., Momentive Performance Materials Inc., PJSC Zaporozhsky
Abrasivny Combinat, Resonac Holdings Corp., Shin-Etsu Chemical Co.
Ltd., Supervac Industries LLP, UK Abrasives Inc., Yingkou Liaobin
Fine Chemical Co. Ltd., Zibo Xinfukang Specialty Materials Co.
Ltd., and ZYP Coatings Inc..
![Technavio has announced its latest market research report titled Global Hexagonal Boron Nitride Market 2023-2027 Technavio has announced its latest market research report titled Global Hexagonal Boron Nitride Market 2023-2027](https://mma.prnewswire.com/media/2463310/20220621015430_bw2.jpg)
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
Hexagonal Boron
Nitride Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2022
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2023-2027
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
6.35%
|
Market growth
2023-2027
|
USD 345.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.97
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 51%
|
Key
countries
|
US, China, South Korea,
India, and Germany
|
Key companies
profiled
|
3M Co., American
Elements, BORTEK Boron Technologies and Mechatronic Inc., Compagnie
de Saint Gobain, Denka Co. Ltd., Henze Boron Nitride Products AG,
Hoganas AB, JFE Holdings Inc., Kennametal Inc., KYOCERA Corp.,
Liaoning PengDa technology Co. Ltd., Momentive Performance
Materials Inc., PJSC Zaporozhsky Abrasivny Combinat, Resonac
Holdings Corp., Shin-Etsu Chemical Co. Ltd., Supervac Industries
LLP, UK Abrasives Inc., Yingkou Liaobin Fine Chemical Co. Ltd.,
Zibo Xinfukang Specialty Materials Co. Ltd., and ZYP Coatings
Inc.
|
Market Driver
Boron nitride nanotubes are cylindrical tubes with superior
mechanical properties, including optical and infrared transparency,
high tensile strength, electrical conductivity, thermal
conductivity, flexibility, and electrical insulation. These
advantages make boron nitride nanotubes promising alternatives to
carbon nanotubes in various industries, such as pharmaceuticals,
healthcare, defense, aerospace, energy, and automotive. The
cost-effective nature of boron nanotubes is also expected to
increase their adoption, fueling market growth during the forecast
period. Boron nitride nanotubes' unique properties make them
valuable in applications requiring high performance materials. The
expanding use of these nanotubes in diverse industries is expected
to drive market expansion.
The Hexagonal Boron Nitride (hBN) market is experiencing
significant growth due to its diverse applications in various
industries. With the fluctuation of oil prices, hBN's use in
industrial sectors as an alternative to traditional lubricants has
increased. In transportation, hBN is finding its place in engine
oil segments for automotive activities. Lifting restrictions have
led to an increase in demand for hBN in skincare products for the
personal care sector. Two-dimensional hBN (2D HBN) is a
game-changer in electronics, with applications in radios, cellular
phones, and lubricants and greases. Automobile production companies
like 3M use hBN for its lubricating
properties and corrosion resistance in mechanical systems.
Aerospace and electronics industries value hBN for its electrical
insulation properties, low dielectric constant, and chemical
stability. Coatings, aerospace segment, and spacecrafts benefit
from hBN's low thermal expansion. In the dental and skincare
industries, hBN is used for its chemical stability and low thermal
expansion. Plastic industries use hBN as an alternative to silicon
nitride, aluminum nitride, and synthetic graphite. The market for
hBN is expanding into cosmetics, with its use in high-end dental
and skincare products. The future of hBN looks bright, with
potential applications in composite components, spacecrafts,
aircrafts, and luxury vehicles.
Discover 360° analysis of this market. For
complete information, schedule your consultation - Book
Here!
Market Challenges
- The Hexagonal Boron Nitride market faces a significant
challenge due to its higher cost compared to alternative materials
like graphite, molybdenum disulfide, and tungsten disulfide. The
cost of standard-grade hexagonal boron nitride for industrial
applications ranges from USD55 to
USD130 per kg, while premium-grade
(high-purity) hexagonal boron nitride for specialized uses in
cosmetics can cost between USD350 and
USD800 per kg. This price difference
makes hexagonal boron nitride less competitive in various
applications, thereby limiting its market growth during the
forecast period.
- The Hexagonal Boron Nitride market is experiencing significant
growth due to its versatile applications in various industries. Key
players like 3M have recognized its
potential in electrical insulation and lubrication. In aerospace,
its corrosion resistance and high-temperature stability make it an
ideal choice for coatings and composite components in spacecrafts
and aircrafts. Boron nitride also offers excellent lubricating
properties for mechanical systems and metal processing. In the
electronics sector, its low dielectric constant and insulation
properties are crucial for thermal interface materials. Boron
nitride's low thermal expansion and chemical stability find
applications in dental and skincare products. The plastic,
cosmetics, and automotive industries also benefit from its
biocompatibility and use in 3D printed components. Competitors like
silicon nitride, aluminum nitride, synthetic graphite, and boron
nitride nanotubes and nanosheets are also making strides in the
market. The electric vehicle industry is another emerging sector,
with boron nitride's thermal management solutions gaining traction.
Overall, the market faces challenges in scaling production and
maintaining consistency in quality while catering to diverse
applications.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This hexagonal boron nitride market report extensively covers
market segmentation by
- Application
- 1.1 Coatings and mold release agents
- 1.2 Electrical insulation
- 1.3 Lubricants
- 1.4 Refractory
- 1.5 Others
- End-user
- 2.1 Automotive
- 2.2 Electronics
- 2.3 Aerospace
- 2.4 Metallurgy
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Coatings and mold release agents- Hexagonal
boron nitride coatings are widely used in various industries due to
their high-temperature resistance and ability to enhance the
durability and toughness of materials. These coatings are commonly
applied to metals, graphite, ceramics, and organic materials, and
can withstand temperatures up to 2,750 degree F. The automotive,
aerospace, defense, foundry die-casting, and glass manufacturing
industries are significant consumers of hexagonal boron nitride
coatings and mold release agents. Boron nitride coating powders can
be easily diluted with water for application. The coatings and mold
release agents segment accounts for the largest share of the
hexagonal boron nitride market. The increasing demand for aluminum
extrusion, glass manufacturing, and coatings in automotive,
defense, and ceramic industries is expected to boost the market
growth during the forecast period. Boron nitride's superior thermal
stability and resistance to abrasion make it an ideal choice for
various applications.
For more information on market segmentation with
geographical analysis including forecast (2023-2027) and historic
data (2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
GaN semiconductor devices are gaining traction due to their high
efficiency and compact size, driving growth in power electronics,
RF amplifiers, and LED lighting applications worldwide.
Aluminum nitride powder is crucial for its high thermal
conductivity, making it essential in industries like electronics,
aerospace, and automotive for heat dissipation and insulating
properties.
The semiconductor market in military and aerospace sectors is
expanding, fueled by advancements in radar systems, communications,
and UAV technology, demanding robust and reliable semiconductor
solutions.
Research Analysis
Hexagonal Boron Nitride (hBN), a layered mineral with unique
properties, is gaining significant attention in various industries
due to its exceptional thermal and electrical conductivity, high
chemical resistance, and lubricating capabilities. The market for
hBN is driven by its applications in industrial sectors,
particularly in the areas of oil prices and transportation. In
industrial lubricants, hBN is used as an additive to enhance the
performance of engine oils in the automotive and aviation
industries. The engine oil segment, a key application area,
benefits from hBN's ability to reduce friction, improve wear
resistance, and enhance fuel efficiency. The lifting of
restrictions in the aerospace industry is expected to boost hBN
demand for electrical insulation and coatings applications.
Additionally, hBN's excellent corrosion resistance and electrical
insulation properties make it a popular choice in the electronics
industry.
Market Research Overview
The Hexagonal Boron Nitride (hBN) market is experiencing
significant growth due to its versatile properties in various
industries. With the fluctuation of oil prices, hBN's use in
industrial sectors as an alternative to traditional lubricants is
gaining traction. HBN's unique lubricating properties make it ideal
for industrial lubricants, particularly in transportation and
automotive activities. In the engine oil segment, hBN's ability to
reduce friction and wear in mechanical systems is driving demand.
HBN's applications extend beyond industrial uses. In the personal
care sector, its high chemical stability and low thermal expansion
make it suitable for skincare product requirements. HBN's 2D
structure, known as hBN or graphenel, is also used in electronic
applications such as radios, cellular phones, and thermal interface
materials. The aerospace and electronics industries utilize hBN for
its excellent electrical insulation properties and corrosion
resistance. HBN is also used in coatings for aerospace segment,
automobile production, and composite components for spacecrafts and
aircrafts. HBN's low dielectric constant and biocompatibility make
it an attractive option for dental and skincare applications. The
plastic industries use hBN in the production of silicon nitride,
aluminum nitride, synthetic graphite, and cosmetics. HBN's
properties are also valuable in the electric vehicle market, where
it is used as thermal management solutions. Boron nitride nanotubes
and nanosheets are also gaining popularity in 3D printed components
and boron nitride nanomaterials. In summary, the Hexagonal Boron
Nitride market is expanding in various industries due to its unique
properties, including lubrication, friction reduction, electrical
insulation, corrosion resistance, thermal management, and
biocompatibility.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Coatings And Mold Release Agents
- Electrical Insulation
- Lubricants
- Refractory
- Others
- End-user
-
- Automotive
- Electronics
- Aerospace
- Metallurgy
- Others
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/hexagonal-boron-nitride-market-size-is-set-to-grow-by-usd-345-2-million-from-2023-2027--abundance-of-boron-minerals-boost-the-market-technavio-302199119.html
SOURCE Technavio