Hexagonal Boron Nitride (HBN) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Hexagonal Boron Nitride (HBN) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global hexagonal boron nitride (HBN) market size reached US$ 769.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 991.0 Million by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

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 2023-2028. 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.

Key Questions Answered in This Report
1. What was the size of the global Hexagonal Boron Nitride (HBN) market in 2022?
2. What is the expected growth rate of the global Hexagonal Boron Nitride (HBN) market during 2023-2028?
3. What are the key factors driving the global Hexagonal Boron Nitride (HBN) market?
4. What has been the impact of COVID-19 on the global Hexagonal Boron Nitride (HBN) market?
5. What is the breakup of the global Hexagonal Boron Nitride (HBN) market based on the type?
6. What is the breakup of the global Hexagonal Boron Nitride (HBN) market based on the application?
7. What are the key regions in the global Hexagonal Boron Nitride (HBN) market?
8. Who are the key players/companies in the global Hexagonal Boron Nitride (HBN) market?