APAC to Remain the Driving Force in Hexagonal Boron Nitride Market
Hexagonal Boron Nitride Market to Register Favorable Growth due to Superior Lubrication
Global Hexagonal Boron Nitride Market – Overview
Market Research Future (MRFR) has revealed that the global hexagonal boron nitride market is projected to hold a market value of USD 900 million, appraisal revenue by 2030. Various applications of hexagonal nitride across industry verticals due to its properties such as thermal conductivity, chemical inertness, and high electrical resistance are likely to stimulate the global hexagonal boron nitride market 2020.
The prodigious rise in the electrical and electronics industry has magnified the demand for hexagonal boron nitride owing to its usage as the base sheet for semiconductor, fillers, coolers, metal-insulator-semiconductor field-effect transistor, etc. Further, the cosmetic and personal care industry is estimated to be one of the most crucial end-users of hexagonal boron nitride during the assessment period. Furthermore, the increasing demand for the thermal conductive polymer is estimated to expand the global hexagonal boron nitride market analysis. Besides, the surging demand for high-temperature applications in lubrication, coating, and mold release is projected to augment the market substantially.
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Global Hexagonal Boron Nitride Market – Prominent Players
Some of the key players in the Hexagonal Boron Nitride Market are Saint-Gobain, Denka Company Limited,,Momentive Performance Materials,,Kennametal,,C. Stark GmBH,,Showa Denko K.K,,Mizushima Ferroalloy,,Henze BNP AG,,ZYP COATING Inc.,3M.
Market Boosters and Barriers
Conversely, the availability of alternative at a cheaper cost than hexagonal boron nitride is estimated to hamper the market proliferation. However, the surging demand for hexagonal boron nitride coatings for clearance control in the aerospace and defense sector is anticipated to produce lucrative opportunities for the market growth, countering the obstructive factor.
However, the global market would find the price of alternatives as a major competition. But latest technologies have influenced the manufacturing process and reduced the cost significantly. Hike in disposable incomes can also inspire the global market growth.
Various factors are propelling the hexagonal boron nitride market growth. Such factors, according to the latest Market Research Future report, include the growing demand from the personal care sector, increasing adoption in electrical & electronics sector and high-temperature paints & coatings, and increasing use across various industry verticals due to its excellent properties such as superior lubrication, high electrical resistance, good thermal conductivity, and chemical inertness.
On the contrary, the high cost of the product, coupled with the availability of cost-effective substitutes, are factors that may restrict the hexagonal boron nitride market growth during the forecast period.
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Hexagonal Boron Nitride Market – Segments:
The global hexagonal boron nitride market has been studied by MRFR experts and segmented into type and applications. These segments and inputs from it are expected to help in the assessment of the global market, which, in turn, would assist in developing better strategies.
By type, the review of the global hexagonal boron nitride market has been segmented into discs, gaskets, tubes, rods, the crucible, sheets, and others. The tube segment accounts for the maximum market share of 17.63% and it is expected to rise with 6.68% CAGR during the forecast period. The segment would inspire a crossing of USD 178,496.2 thousand valuation by the end of 2030.
By application, the study of the market has been segmented into electrical & insulation, coatings & mold release, lubrication, composites, thermal spray, cosmetics, and others. The coatings & mold release segment had almost one-third of the global market share. This segment would score around 6.46% CAGR during the forecast period and reach a valuation of USD 321,348.9 thousand by the end of 2023. The cosmetics segment would record the fastest growth of around 6.89% CAGR during the forecast period.
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Hexagonal Boron Nitride Market – Regional Analysis:
By region, the hexagonal boron nitride market report covers the latest trends and growth opportunities across Europe, the Asia Pacific, North America, Latin America, and the Middle East and Africa. Of these, the APAC region will remain the driving force in the market during the forecast period. The presence of several hexagonal boron nitride manufacturers in the region, coupled with the growing demand for hexagonal boron nitride in different applications, especially electrical insulation and coatings & mold release, is adding to the hexagonal boron nitride industry growth in the region. China, as well as India, are the major contributors in this region.
The hexagonal boron nitride market in North America will have favorable growth during the forecast period. Various factors propelling the growth of the hexagonal boron nitride market in the region include strong economic cues, booming consumer electronics sector, enhanced network connectivity, demand for quicker and new electronic products owing to the escalated technological developments and research and development operations, especially in the electronics sector, and spur in the number of development centers and manufacturing facilities in the US concentrating on high-end products.
The hexagonal boron nitride market in Europe will have a lucrative growth during the forecast period. Italy, France, and Germany are the major contributors in this region.
The hexagonal boron nitride market in Latin America will have a moderate growth during the forecast period, and that in the MEA will have a steady growth for the growing cosmetic industry.
Industry/ Innovation/ Related News
April 2019: Scientists at the University of Oregon have developed artificial atoms that generate single photons by drilling holes in hexagonal boron nitride’s thin two-dimensional sheet through a gallium-focused ion beam. These atoms that work at room temperature and the air is likely to be a revolutionary step in efforts to create all-optical quantum computing. These artificial atoms will pave the way for lots of powerful and new technologies. They can be used in the near future for more secure, safer, more powerful computers, and completely private communications which can create life-saving drugs as well as assist scientists in having a better understanding regarding the universe with the help of quantum computation.
In June 2020, an international team of researchers, in affiliation with UNIST declared that they had discovered a novel material that could help in taking several leaps in curbing the size of electronic devices in the coming years. This study demonstrated the syncing of a thin film of amorphous boron nitride (a-BN) with a very low dielectric constant and high breakdown voltage and better metal barrier properties. One of the major supporters of this research is Samsung, who are expected to benefit from it.
The global market for hexagonal boron nitride market is getting affected by the COVID-19 pandemic. This is due to the lockdowns in several countries that enforced curb in the production of several sectors and the intake pattern of the product.
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