Industry Overview of Hexagonal Boron Nitride Market
Hexagonal boron nitride (HBN) is an environmentally-friendly and isostructural layered ceramic material with a similar atomic structure to graphite. It is available in various forms such as tubes, powder, rods, gaskets, plates, and sheets. HBN products possess exceptional thermal and mechanical properties, chemical inertness, lubricity, and high electric breakdown strength and resistivity. As a result, HBN components find wide-ranging applications in industries including electronics, personal care, coatings, and lubricants.
How Big Is the Hexagonal Boron Nitride Market?
According to the new market research report by IMARC Group the global hexagonal boron nitride (HBN) market reached a value of US$ 769.8 Million in 2022. It is projected to reach a value of US$ 991.0 Million by 2028, exhibiting a CAGR of 4.2% during 2023-2028.
Global Hexagonal Boron Nitride Industry Trends and Drivers:
The growth of the consumer electronics industry, driven by increasing demand for mobile phones, laptops, gaming systems, and other portable devices, is a key factor contributing to the expansion of the hexagonal boron nitride (HBN) market. Additionally, the adoption of HBN in the manufacturing of coolers and semiconductors is further fueling market growth. Furthermore, the rising use of HBN in personal care and cosmetics products due to growing consumer awareness of health and appearance, as well as its application in developing advanced materials for optoelectronics and protective coatings, are positively impacting the global market. The integration of HBN in smart devices and appliances, along with advancements in IoT and AI technologies, and substantial investments in research and development activities, are expected to drive the growth of the hexagonal boron nitride (HBN) market in the foreseeable future.
Key Market Segmentation:
The report provides detailed segmentation of the global hexagonal boron nitride market based on based on type and application and region.
Breakup by Type:
- Plates and Sheets
Breakup by Application:
- Coatings/Mold Release/Spray
- Electrical Insulation
- Industrial Lubricants
- Thermal Spray
- Personal Care (Including Cosmetics)
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Anest Iwata Corporation, Asahi Sunac Corporation, Castolin Eutectic, Graco Inc., Hydromer, IHI Corporation, J. Wagner GmbH, Larius S.r.l, Nordson Corporation, OC Oerlikon, Praxair Surface Technologies Inc. (Linde plc) and Samvardhana Motherson Group.
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