ID: MRFR/CnM/1279-CR | 164 Pages | Published By Chitranshi Jaiswal on September 2018
The Hexagonal Boron Nitride Market was valued at USD 956.9 Million in 2030 and is expected to grow at a CAGR of 4% over the forecast period (2022-2030).
Hexagonal Boron Nitride Market is anticipated to observe stable growth in the future as per a report released by Market Research Future. In 2022, hexagonal boron nitride's worldwide supply withstood the earlier year's upward impetus. The market is anticipated to go beyond USD 956.9 Mn's at a CAGR 4% appraisal revenue by 2030. The cosmetic & personal care industry will stay as one of the critical end-users of hexagonal boron nitride throughout the forecast period. The material finds numerous other industrial purposes such as electrical products manufacturing and metal processing due to its adaptable properties.
The outlook of stockholders toward the chemical industry is likely to change this year more so than before. The conventional overperformance of the chemical industry has decelerated over recent years and turned into a troubling deficit unrelated to the COVID-19 crisis. The chemical industry's incomes are coupled to GDP development, and the upper line of chemical companies will plunge a little more than the GDP. In contrast, companies downstream in the individual value chains will evacuate their stockrooms. In return, the lift after the depression of the crisis will be much advanced than the increase in GDP because the very same downstream businesses will need to restock.
Superior Properties Of Hexagonal Boron Nitride
The noteworthy properties such as chemical inertness, elevated thermal conductivity, elevated electrical resistance, and lubricity are anticipated to create avenues for the hexagonal boron nitride market share. These qualities act as an essential factor 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.
Substantial Growth Of Personal Care Industry
The hexagonal boron nitride has 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, used as a diffuser and lubricant in skincare and makeup products.
Demand For Hexagonal Boron Nitride From Metal Processing And Electrical & Electronics
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 the consumer and motorized electronics related to the development of the electronics and semiconductors sectors in the forecast period.
Process And Product Development
The advancements seen in process and products are projected to create profitable opportunities in the forecast period.
Rise In Disposable Income
The increasing disposable returns globally, the resulting increase in consumer electronics expenditure, and the quickly bourgeoning personal care sector are expected to disclose new hexagonal boron nitride market applications in the coming years.
Capacity Expansion And Migration Of Cosmetic Manufacturers
The lucrative demand from the cosmetic sector, spurred by global demand, is estimated to improve the reach into new and developing regional markets in the forecast period.
High Price Of Hexagonal Boron Nitride
The cost restraint is foreseen to create restrictions for the hexagonal boron nitride market growth in the upcoming years.
The tube segment has the most significant share of the hexagonal boron nitride market of 17.63%, with an expected CAGR of 6.68% throughout the forecast period. Furthermore, the tubes segment will witness the fastest evolution and result in market worth of USD 178,496.2 Thousand by the review period's conclusion
The coatings & mold release segment has the principal market segment, stating control of nearly one-third of global use. The region is projected to flourish at a CAGR of 6.46% throughout the forecast period. It has also been governed that the market worth for the coatings and mold release segment will touch an appraised value of USD 321,348.9 Thousand by the culmination of 2023.
APAC To Report Positive Growth Cues
The Asia Pacific market embodies the principal regional market with a market portion of over 38% and is anticipated to grow at the maximum CAGR of 6.99% throughout the forecast period. The region is controlled by China's market, which has the principal share in the APAC hexagonal boron nitride market, with India showing a rapid growth in the forecast period. The region has been well-known as a manufacturing center for the electronics and automotive sectors. Furthermore, the region's development and other socio-economic influences have augmented the consumers' buying power in the region, thus steering to an elevated demand for consumer electronics. Moreover, the personal care and cosmetics industry is escalating rapidly with skin lightening products and their alternatives among the most purchased skin care products in the APAC.
MEA To Show Robust Overall Growth
The presence of significant openings for the hexagonal boron nitride market owing to the extensive use and need for personal care merchandise is estimated to enhance the hexagonal boron nitride market. Compared to the APAC, skin lightening creams and other similar products are highly popular in the region, leading to market growth.
The central companies in the Hexagonal Boron Nitride Market are
June 2021- McGill University's researchers' team developed a hybrid membrane, allowing osmotic (blue) energy systems. Osmotic energy, also called blue energy, uses the energy naturally released as the mixtures with different salinities mix- the meeting of fresh and saltwater. The method of capturing this blue energy is coupled with a selectively permeable membranes that permits only on of the element from the mixture to pass though it- either the dissolved salt ions or the water molecules. To date, the present blue energy projects worldwide face issues due to the inefficiency of the present membrane technology. To resolve these issues, the scientist have built a membrane using exotic nanomaterials, which have ensured promise in terms of the volume of power they can produce in comparison with their size.The challenge of making these devices useful in real-life applications remains constant.Lead author Khadija Yazda said that the product is focused on remedying the inherent mechanical fragility issues while capitalizing on the extraordinary selectivity of thin 2D nanomaterials by designing a hybrid membrane produced from hexagonal boron nitride (hBN) monolayers supported by silicon nitride membranes.Dec 2020 - AIXTRON has advanced, built, and fitted a new, detailed industrial-grade reactor for graphene and hexagonal Boron Nitride (hBN), 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 do not yet exist.
Aug 2020 - Cornell academics recently utilized an ultrathin graphene and hexagonal boron nitride 'sandwich' to produce a tiny magnetic field sensor that can operate over a greater temperature range than previous sensors sensing tiny changes in magnetic fields that might otherwise get lost within a more substantial magnetic setting. Nowack's lab focuses on operating scanning probes to oversee magnetic imaging. One of their go-to probes is the superconducting quantum interference device, or SQUID, which works well at low temperatures and in minor magnetic fields.
|Market Size||USD 956.9 Mn's|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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||
|Key Market Drivers||
The valuation of the global hexagonal boron nitride market is projected to reach approximately USD 956.9 MN by 2030, growing at 4% CAGR during 2022-2030.
Augmenting demand from the cosmetic & personal care sector.
Asia Pacific holds the largest share in the global hexagonal boron nitride market followed by North America and Europe, respectively.
Denka Company Limited, 3M, Saint-Gobain, Showa Denko K.K, Kennametal, Henze BNP AG, H.C. Stark GmBH, Momentive Performance Materials, ZYP COATING Inc., and Mizushima Ferroalloy, are some of the major players operating in the global hexagonal boron nitride market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global hexagonal boron nitride market adopt to gain a larger competitive advantage.