Hexagonal Boron Nitride (HBN) Market Report by Type (Tubes, Rods, Powder, Gaskets, Plates and Sheets, and Others), Application (Coatings/Mold Release/Spray, Electrical Insulation, Composites, Industrial Lubricants, Thermal Spray, Personal Care (Including Cosmetics), and Others), and Region 2024-2032
The global hexagonal boron nitride (HBN) market size reached US$ 801.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,115.2 Million by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 801.8 Mllion
Market Forecast in 2032
US$ 1,115.2 Million
Market Growth Rate (2024-2032)
3.62%
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 2024-2032. Our report has categorized the market based on type and application.
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
Competitive Landscape:
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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Million
Segment Coverage
Type, Application, Region
Regions Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global Hexagonal Boron Nitride (HBN) market was valued at US$ 801.8 Million in 2023.
We expect the global Hexagonal Boron Nitride (HBN) market to exhibit a CAGR of 3.62% during 2024-2032.
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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