Global Boron Nitride Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Boron Nitride Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Boron nitride is a heat and chemically resistant refractory compound of boron and nitrogen with the chemical formula BN. It exists in various crystalline forms that are isoelectronic to a similarly structured carbon lattice.

Market Overview:

The latest research study on the global Boron Nitride market finds that the global Boron Nitride market reached a value of USD 260.18 million in 2022. It’s expected that the market will achieve USD 386.62 million by 2028, exhibiting a CAGR of 6.82% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry
The impact of COVID-19 on the boron nitride industry is undoubtedly huge. Firstly, the downstream industries of boron nitride have been hit. Due to the economic recession caused by COVID-19, the unemployment rate has started to increase and consumer income has decreased. In addition, due to safety considerations, people reduce going out, and demand in the automotive and aerospace industries is sluggish, resulting in insufficient motivation for the boron nitride industry.

Protecting the health of consumers and employees is a top priority for companies and governments. For manufacturers in the hardest-hit areas, the closure of factories, complete or partial closure, may last a long time. At the same time, this will be a critical moment for the transformation and development of the boron nitride industry. E-commerce and digital supply chains have developed rapidly in recent years. Due to the impact of COVID-19, more companies are inclined to the e-commerce model. By building a digital supply chain, on the one hand, they can find alternative buyers and suppliers in a timely manner. On the other hand, in response, after-sales market participants may provide an Omni-channel model similar to retailers, for example, with online purchases and quick repurchase ability. The increased affinity for Internet purchases may create new opportunities for new business models or service choices. In addition, the boron nitride industry may explore active deployment of automation technologies, such as collaborative robots, autonomous material handling, and the industrial Internet of Things, to reduce the density of staff throughout the operation.

With the gradual control of COVID-19 and the advancement of vaccine research and development, the global economy has begun to gradually recover by region. The economic recovery will drive the
recovery of the boron nitride downstream market and the boron nitride industry.

Increased applications in the automotive and aerospace fields

Boron nitride can be coated on many materials, such as metal, plastic, ceramic, and wood. Boron nitride coatings are in viscous liquid form, which can be brushed or diluted with water to make their consistency more suitable for spraying or dipping. At the same time, the boron nitride coating has high-temperature resistance, high thermal conductivity, excellent lubricity, and low electrical conductivity. It is widely used in coatings, mold release agents, and spraying in the automotive and aerospace fields. With the further development of the global automotive and aerospace fields, the performance requirements for automobiles and aerospace devices are further improved, and it is predicted that innovative products of boron nitride will also increase.

Further development in the field of electronics

Boron nitride is also widely used in metal processing and electrical and electronic fields. In recent years, electronic products such as smartphones, OLED TVs, and tablet computers have been updated rapidly. With the further development and diversification of consumer electronic products, and the increase in consumer disposable income, the demand for electronic products is expected to increase in the near future. Thereby promoting the development of the boron nitride industry.

Broadening of other application areas

In addition to electronics, aerospace, and automotive industries, boron nitride can also be used in cosmetics and industrial lubricants. Boron nitride is used as a dispersant and lubricant in skincare products and cosmetics. Personal care and cosmetics are high-value industries, mainly growing in emerging economies. At the same time, the growing oil and gas industry and nuclear industry applications have increased the potential market for industrial lubricants. The improvement of high temperature by boron nitride makes it a bright future as an industrial lubricant.

Region Overview:

United States had the highest growth rate of all regions

Company Overview:

The major players operating in the Boron Nitride market include Saint-Gobain, Momentive, 3M company, Showa Denko Group and Shin-Etsu Chemical, etc. Among which, Boron Nitride ranked top in terms of sales and revenue in 2022.

Saint-Gobain

Saint-Gobain Group engages in the design, manufacturing, and distributing building materials internationally. The Company produces insulation systems, water supply systems, solar solutions and building materials for distribution.

Momentive

Momentive provides silicon and chemical products. The Company offers adhesives, antifoams, ceramics, coatings, coupling, demulsifiers, fluids, grease, modifiers, resins, softeners, and urethane additives, as well as other related products.

Segmentation Overview:

Among different product types, Hexagonal Boron Nitride (HBN) segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Electronics segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Boron Nitride market covered in Chapter 3:

Höganäs
Momentive
Showa Denko Group
Henze
YingKou Liaobin
Shin-Etsu Chemical
Qingzhou Fangyuan
3M company
Saint-Gobain
UK Abrasives
DCEI
Xinfukang
Denka
QingZhouMaiTeKeChang Materials
Zibo Jonye Ceramic Technologies

In Chapter 4 and Chapter 14.2, on the basis of types, the Boron Nitride market from 2018 to 2029 is primarily split into:

Hexagonal Boron Nitride (HBN)
Cubic boron nitride (CBN)
Wurtzite Boron Nitride (WBN)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Boron Nitride market from 2018 to 2029 covers:

Electronics
Aerospace
Automotive
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)