Hexagonal Boron Nitride Market Size was valued at USD 0.83 billion in 2023. The Hexagonal Boron Nitride market industry is projected to grow from USD0.87 Billion in 2024 to USD 1.14 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.49% during the forecast period (2024 - 2032). Increased superior hexagonal boron nitride properties and substantial personal care industry growth are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The unique properties such as chemical inertness, thermal conductivity, electrical resistance, and lubricity are anticipated to create avenues for the hexagonal boron nitride market share. These qualities are essential for the growth of the hexagonal boron nitride properties market. They make it superior to its alternative, graphite, thus propelling the demand for hexagonal boron nitride. This factor drives the market CAGR.
The hexagonal boron nitride has also found widespread uses in the cosmetics and personal care industry. Personal care and cosmetics products are a high-value sector increasing chiefly in emerging economies responsible for mounting the hexagonal boron nitride market stake. It is recognized as a non-toxic and ecological element expended in over 643 cosmetics formulations and used as a diffuser and lubricant in skincare and makeup products. Moreover, the enormous boom perceived in the electrical & electronics business has augmented the requirement for hexagonal boron nitride owing to its use in the substrate for coolers and semiconductors. The growing need for consumer and motorized electronics related to the development of the electronics and semiconductors sectors in the forecast period. Thus, these factors drive the Hexagonal Boron Nitride market revenue.
Based on type, the Hexagonal Boron Nitride market segmentation includes tubes, rods, plates, gaskets, crucibles, sheets, and others. The tubes category dominated the market due to the increasing demand for hexagonal boron nitride tubes in industries such as electronics, aerospace, and defense for their excellent thermal and chemical properties. The tubes offer high thermal conductivity, high thermal shock resistance, and high dielectric strength, making them suitable for various applications.
Figure1: Hexagonal Boron Nitride Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on application, the Hexagonal Boron Nitride market segmentation includes electrical insulation, industrial lubrication, coatings & mold release, cosmetics, composites, thermal spray, others. The coatings & mold release category dominated the market; on various materials, including metal, plastic, ceramic, and wood, hexagonal boron nitride coating forms a layer of boron nitride powder. This coating is a thick liquid that can be brushed or thinned with water to create a consistency better suited for spraying or dipping. Combining the unique properties of high thermal conductivity, excellent lubricity, and low electrical conductivity of hexagonal boron nitrides with the operation of paint, the coating, which comes in a convenient form, provides unmatched performance as a lubricant and anti-stick release agent. Currently, hexagonal boron nitride coating has the highest temperature resistance and is one of the best dry film lubricants available. The co-efficiency of boron nitride remains essentially constant over a wide temperature range.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific Hexagonal Boron Nitride Market will dominate this market because the area is well-known for being a hub for electronics and automotive manufacturing. Skin-lightening products and their alternatives are among the most popular skin care products in this Region, and the personal care and cosmetics industry is expanding quickly. Moreover, China’s Hexagonal Boron Nitride market held the largest market share, and the Indian Hexagonal Boron Nitride market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: GLOBALHEXAGONAL BORON NITRIDE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Hexagonal Boron Nitride market accounts for the second-largest market share due to the rise as consumers take extra precautions to shield babies and children's sensitivity fam prolonged sun exposure. The climate highly influences the demand for sun care products among adults. Consumers approached sun protection more holistically, paying closer attention to U.V. levels and their effects on skin health and aging. Further, the German Hexagonal Boron Nitride market held the largest market share, and the UK Hexagonal Boron Nitride market was the fastest-growing market in the European Region.
North America is expected to grow at the fastest CAGR from 2023 to 2032. This is due to growing consumer awareness of the advantages of these products; the country is currently seeing increased adoption of personal care products, particularly in the premium category, expanding awareness of a healthy lifestyle and nutrition, and rising per capita disposable income.
Leading market players are investing heavily in research and development to expand their product lines, which will help the hexagonal boron nitride market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The hexagonal boron nitride industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Hexagonal Boron Nitride industry to benefit clients and increase the market sector. In recent years, the Hexagonal Boron Nitride industry has offered some of the most significant medical advantages. Major players in the Hexagonal Boron Nitride market, including 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., and others, are attempting to increase market demand by investing in research and development operations.
Aixtron SE is a European multinational technology company specializing in manufacturing metalorganic chemical vapor deposition equipment for clients in the semiconductor industry. The company's shares are listed on the Frankfurt Stock Exchange. AIXTRON is a constituent of the MDAX and TecDAX index.AIXTRON has advanced, built, and fitted a new, detailed industrial-grade reactor for graphene and hexagonal Boron Nitride (CBN), giving out 200 mm epi- wafers. The novel CVD tool was advanced as an allotment of the GIMMIK research project and has recently gone into operation. The GIMMIK project plans to assess graphene layers' production under industrial conditions, mark weak points, and design ways to eliminate error sources. Also, the transmission of graphene properties to electrical mechanisms and a material setting is tested. In parallel, approaches for the contact-free, large-area description of graphene will be advanced, which still need to be created.
LUBLINE products are made using the ultimate oil and chemical industry technology.HeBoFill LL-SP 060 is a brand-new boron nitride powder from Henze Boron Nitride Products with high purity and minimal agglomeration. Additionally, it broadens our selection of products by adding a new powder to the HeBoFill LUB LINE.
September 2022: HeBoFill LL-SP 060 is a brand-new boron nitride powder from Henze Boron Nitride Products with high purity and minimal agglomeration. Additionally, it broadens our selection of products by adding a new powder to the HeBoFill LUB LINE.
July 2022: The addition of HeBoCoat EL-W 100 now augments the EXPERT LINE of the HeBoCoat family. It was designed for use in hot forming and superplastic forming procedures.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.83 billion |
| Market Size 2024 | USD 0.87 billion |
| Market Size 2032 | USD 1.14 billion |
| Compound Annual Growth Rate (CAGR) | 3.49%(2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 |
| Key Market Opportunities | Process And Product Development Rise In Disposable Income |
| Key Market Dynamics | Superior Properties Of Hexagonal Boron Nitride Substantial Growth Of the Personal Care Industry |
Hexagonal Boron Nitride Market Highlights:
Frequently Asked Questions (FAQ) :
The Hexagonal Boron Nitride market size was valued at USD 0.8 Billion in 2022.
The market is projected to grow at a CAGR of 3.49% during the forecast period, 2024-2032.
Asia Pacific had the largest share of the Boron Nitride Market.
The key players in the 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.
The Tubes Hexagonal Boron Nitride category dominated the market in 2023.
The Coatings & Mold Release had the largest share in the Boron Nitride Market.
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