Hexagonal Boron Nitride Market Summary
As per Market Research Future Analysis, the Global Hexagonal Boron Nitride Market was valued at USD 0.83 billion in 2023 and is projected to reach USD 1.14 billion by 2032, growing at a CAGR of 3.49% from 2024 to 2032. The market is driven by the superior properties of hexagonal boron nitride, including chemical inertness, thermal conductivity, and electrical resistance, which enhance its demand in various applications, particularly in the personal care and cosmetics industry. The Asia-Pacific region is expected to dominate the market, with China holding the largest share and India being the fastest-growing market. The coatings & mold release application segment leads the market due to its unique properties and widespread use across various materials.
Key Market Trends & Highlights
Key trends driving the Hexagonal Boron Nitride market include its unique properties and growing applications.
- Market Size in 2023: USD 0.83 billion; Projected Market Size by 2032: USD 1.14 billion.
- CAGR from 2024 to 2032: 3.49%; Dominant Application: Coatings & Mold Release.
- Asia-Pacific region to dominate market share; China holds the largest market share.
- Hexagonal Boron Nitride used in over 643 cosmetics formulations.
Market Size & Forecast
2023 Market Size | USD 0.83 billion |
2024 Market Size | USD 0.87 billion |
2032 Market Size | USD 1.14 billion |
CAGR (2024-2032) | 3.49% |
Major Players
Key players include Saint-Gobain, Denka Company Limited, Momentive Performance Materials, Kennametal, C. Stark GMBH, Showa Denko K.K, Mizushima Ferroalloy, Henze BNP AG, ZYP COATING Inc., and 3M.