The Hexagonal Boron Nitride market size to grow at a CAGR of 6.35% from 2022 to 2027

NEW YORK, Aug. 4, 2023 /PRNewswire/ -- The hexagonal boron nitride market is expected to grow by USD 345.2 million during the five-year forecast period, according to Technavio. As per the latest report, the market will progress at a CAGR of 6.35% from 2022 to 2027. The commercialization of boron nitride nanotubes is a major trend in the market. Boron nitride nanotubes are cylindrical in shape, like carbon nanotubes. Optical and infrared transparency, electrical conductivity, thermal conductivity, flexibility, high tensile strength, and electrical insulation are some of the key characteristics that nanotubes offer. These nanotubes find their application in several industries such as pharmaceutical, medical, defense, aerospace, energy, and automotive industries due to which they are considered as a potential alternative to carbon nanotubes. Hence, these factors are expected to drive market growth during the forecast period. View the new Sample Report within minutes!

Hexagonal Boron Nitride Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our hexagonal boron nitride market report covers the following areas:

Hexagonal Boron Nitride Market size

Hexagonal Boron Nitride Market Trends

Hexagonal Boron Nitride Market industry analysis

Hexagonal Boron Nitride Market five forces analysis

Hexagonal Boron Nitride Market competitive landscape

Hexagonal Boron Nitride Market 2023-2027: SegmentationThe hexagonal Boron Nitride Market is segmented as below:

Application

End-user

Geography

The coatings and mold release agents segment is estimated to witness significant growth during the forecast period. Metals, graphite, ceramics, and organic materials are some of the key materials included in hexagonal boron nitride coatings. The ability to withstand high temperatures up to 2750 degrees F is one of the key features of hexagonal boron nitride coatings. In addition, hexagonal boron nitride coatings include other properties such as abrasion resistance and durability on many surfaces, including aluminum, steel, zinc, metal, magnesium, and alloys.

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Hexagonal Boron Nitride Market 2023-2027: Market Dynamics

Key Drivers

The abundance of boron minerals is a key factor driving market growth. Boric acid and boron trioxide are one of the most important raw materials for producing hexagonal boron nitride, which is obtained from about 200 naturally occurring boron minerals. Furthermore, the various factors such as hardness, thermal conductivity, high-temperature resistance, chemical inertness, stability, and non-toxicity of boron determine the market. Turkey, the US, China, Argentina, Chile, Bolivia, and Peru are major boron producers. In addition, turkey is a major boron producer on the market. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The high cost of hexagonal boron nitride is one of the key challenges restricting market growth. The other materials such as graphite, molybdenum disulfide, and tungsten disulfide are less expensive compared to hexagonal boron nitride. Furthermore, prices for standard-grade hexagonal boron nitrides used for industrial purposes range from USD 55 to USD 130/kg, and prices for premium-grade (high purity) hexagonal boron nitrides for specific applications, such as cosmetics, are in the range of USD 350 to USD 800/kg. Therefore, the high cost is expected to restrict market growth during the forecast period.

Hexagonal Boron Nitride Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. are some of the major market participants.

Company Offering

3M Co - The company offers hexagonal boron nitride products such as cooling filler platelets.

American Elements - The company offers hexagonal boron nitride for thermal conductive additive, electric resistance, and engine oil additive.

Denka Co. Ltd - The company offers hexagonal boron nitride for additives, metal, and glass molding dies.

Hexagonal Boron Nitride Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist hexagonal boron nitride market growth during the next five years

Estimation of the hexagonal boron nitride market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the hexagonal boron nitride market

Analysis of the market's competitive landscape and detailed information on companies

Comprehensive details of factors that will challenge the growth of hexagonal boron nitride market companies.

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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

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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 dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents

1 Executive Summary

1.1 Market Overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market Definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global hexagonal boron nitride market 2017 - 2021

4.2 Application Segment Analysis 2017 - 2021

4.3 End-user Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Application

6.1 Market segments

6.2 Comparison by Application

6.3 Coatings and mold release agents - Market size and forecast 2022-2027

6.4 Electrical insulation - Market size and forecast 2022-2027

6.5 Lubricants - Market size and forecast 2022-2027

6.6 Refractory - Market size and forecast 2022-2027

6.7 Others - Market size and forecast 2022-2027

6.8 Market opportunity by Application

7 Market Segmentation by End-user

7.1 Market segments

7.2 Comparison by End-user

7.3 Automotive - Market size and forecast 2022-2027

7.4 Electronics - Market size and forecast 2022-2027

7.5 Aerospace - Market size and forecast 2022-2027

7.6 Metallurgy - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

7.8 Market opportunity by End-user

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 South Korea - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 India - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Company Landscape

11.1 Overview

11.2 Company landscape

11.3 Landscape disruption

11.4 Industry risks

12 Company Analysis

12.1 Companies covered

12.2 Market positioning of companies

12.3 3M Co.

12.4 American Elements

12.5 BORTEK Boron Technologies and Mechatronic Inc.

12.6 Compagnie de Saint Gobain

12.7 Denka Co. Ltd.

12.8 Henze Boron Nitride Products AG

12.9 Hoganas AB

12.10 JFE Holdings Inc.

12.11 Kennametal Inc.

12.12 KYOCERA Corp.

12.13 Liaoning PengDa technology Co. Ltd.

12.14 Momentive Performance Materials Inc.

12.15 PJSC Zaporozhsky Abrasivny Combinat

12.16 Resonac Holdings Corp.

12.17 Shin-Etsu Chemical Co. Ltd.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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