Hexagonal Boron Nitride Market Research Report- Forecast to 2027

Hexagonal Boron Nitride Market By Type (Tubes, Rods, Plates, Gaskets, Crucibles, Sheets and Others), By Application (Electrical Insulation, Lubrication Industrial, Coatings & Mold Release, Cosmetics, Composites, Thermal Spray and Others) and - Forecast till 2027

ID: MRFR/CnM/1279-CR | September 2018 | Region: Global | 164 pages

Market Overview


Hexagonal Boron Nitride Market is anticipated to observe stable growth in the future as per a report released by Market Research Future. In 2017, hexagonal boron nitride's worldwide supply withstood the earlier year's upward impetus. The market is anticipated to go beyond USD 900 Mn's appraisal revenue by 2023. 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.


COVID-19 Analysis


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.


Market Dynamics


Drivers


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.


Opportunities


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.


Challenges


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.


Segment Overview


By Type


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


By Application


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.


Regional Analysis


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.


Competitive Landscape


The central companies in the Hexagonal Boron Nitride Market are



  • 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


Recent Developments


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.


Report Overview


By Type



  • Tubes

  • Rods

  • Discs

  • Gaskets

  • Crucible

  • Sheets

  • Others


By Application



  • Electrical & Insulation

  • Lubrication

  • Coatings & Mold Release

  • Cosmetics

  • Composites

  • Thermal Spray

  • Others



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   2027: Substantial CAGR
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  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

  • Process And Product Development
  • Rise In Disposable Income
  • Capacity Expansion And Migration Of Cosmetic Manufacturers
  •   Key Market Drivers

  • Superior Properties Of Hexagonal Boron Nitride
  • Substantial Growth Of Personal Care Industry
  • Demand For Hexagonal Boron Nitride From Metal Processing And Electrical & Electronics\r\n\r\n


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :


    The valuation of the global hexagonal boron nitride market is projected to reach approximately USD 916.93 MN by 2023, growing at 6.10% CAGR during 2017 to 2023.

    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.

    A thorough assessment of the global hexagonal boron nitride market determines that the market is poised to register a CAGR of 6.10% during the forecast period of 2017 to 2023. Hexagonal boron nitride displays superiority in performance to its alternative and has a wide scope of application across rapidly growing industries. Valued at USD 610.05 Mn in 2016, the global hexagonal boron nitride market is expected to grow to generate an approximate market value of USD 916.93 Mn by the end of 2023.


    Hexagonal boron nitride has several key properties such as chemical inertness, high electrical resistance, high thermal conductivity and lubricity among others. These features act as a significant driver of the market as hexagonal boron nitride properties make it superior to its alternative, graphite, thus propelling the demand for hexagonal boron nitride. The features that hexagonal boron nitride possesses make it highly popular in coatings and mold release. High thermal conductivity has created a substantial demand for hexagonal boron nitride in thermal coating applications for semiconductors in the electronics and electrical industry. Other industries where demand is growing due to the rapid growth of the industry include the automotive sector and industrial equipment sector. Notably, hexagonal boron nitride has found extensive applications in the cosmetics and personal care industry. Personal care and cosmetics, a high-value industry which is growing rapidly, particularly in emerging economies, is responsible for the increasing demand for hexagonal boron nitride. Used as a diffuser and lubricant in skincare and makeup products, hexagonal boron nitride is recognized as a non-toxic and eco-friendly ingredient which is used in over 643 cosmetic formulas. The growth of the skin care segment of the personal care industry is expected to provide substantial revenue for the global hexagonal nitride market over the forecast period.


    The price point of hexagonal boron nitride is high compared to its alternative. Available in a variety of forms at different price points, higher priced hexagonal boron nitride has more desirable properties than lower priced boron nitride. However, production methods are being impacted by advancements in technology with the purpose of reducing costs while meeting market demand for the product. Rising disposable incomes across the globe and the resulting increase in spending on consumer electronics and the rapidly growing personal care sector are expected to reveal market opportunities in the coming years.


    The global hexagonal boron nitride market is segmented, in the report, on the basis of type, applications, and region. By type, the market is segmented into rods, discs, gaskets, sheets, crucible, tubes, and others. Among these segments, the tube segment accounts for the most significant share of the market of 17.63% with an anticipated CAGR of 6.68% over the assessment period. Moreover, the tubes segment is set to witness the fastest growth and result in a market value of USD 178,496.2 Thousand by the end of the review period.


    By application, the market is segmented into lubrication, electrical & insulation, coatings & mold release, cosmetics, composites, thermal spray, and others. The coatings & mold release segment accounts for the largest share of the market, accounting for nearly one-third of global consumption. Expected to grow at a CAGR of 6.46% during the forecast period, it has also been determined that the market value for the coatings and mold release segment will reach an estimated value of USD 321,348.9 Thousand by the end of 2023. Meanwhile, the cosmetics segment is expected to witness the highest growth at a CAGR of 6.89%.


    Regional Analysis


    The global hexagonal boron nitride market is segmented by region which includes North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The Asia Pacific (APAC) market represents the largest regional market with a market share of over 38% and is expected to grow at the highest CAGR of 6.99% during the forecast period. The region is led by China which has the largest share of the APAC hexagonal boron nitride market with India displaying rapid growth over the forecast period. The region has been established as a manufacturing hub for the electronics and automotive sector. Moreover, the urbanization in the region and other socio-economic factors have increased consumers' purchasing power in the region, thus leading to high demand for consumer electronics, thus by extension, the demand for hexagonal boron nitride in the region is growing. Additionally, the personal care and cosmetics industry are growing at a truly swift pace. Skin lightening products and their variants are among the most purchased skin care products in the APAC where hexagonal boron nitride is used as an important ingredient, thus increasing market growth.


    The Middle East and African region, with a stronger emphasis on Middle Eastern countries also represent significant opportunities for the global hexagonal boron nitride market due to the extensive use and demand of personal care products in the region. Comparable to the APAC, skin lightening creams and other similar products are highly popular in the region, thus leading to growth for the market.


    Competitive Tracking


    The global hexagonal boron nitride market has several key players operating in the competitive landscape of the market. Prominent players included in the report are Saint-Gobain, Denka Company Limited, Momentive Performance Materials, Kennametal, H.C. Stark GmBH, Showa Denko K.K, Mizushima Ferroalloy, Henze BNP AG, ZYP COATING Inc., and 3M.

    Global Hexagonal Boron Nitride Market: Competitive Landscape


    The prominent players in the global plastic compounding market are Saint-Gobain, Denka Company Ltd, Momentive Performance Materials Inc., Kennametal, H.C. Stark GmbH, Showa Denko K.K, Mizushima Ferroalloy Co., OC Oerlikon, Henze BNP AG, ZYP Coatings Inc, and 3M


    Saint-Gobain, 3M, Denka Company Limited, Showa Denko K.K., ZYP Coatings Inc, Henze BNP AG collectively hold the majority share of the hexagonal boron nitride market. The market players are focused on new product launches, product innovation, and strategic initiatives, such as acquisitions and joint venture, to meet the increasing demand for hexagonal boron market in major end-use industries such as automotive, electrical and electronics, and lubrication industrial.


    Denka Company Limited, pioneer in organic and in-organic materials for industrial manufacturing, materials for construction, electronic materials, food packaging and diagnostic reagents. The company was formerly known as Denki Kagaku Kogyo Kabushiki Kaisha and in October 2015, changed name to Denka, the company is optimizing cost efficiency through research and development and thus providing sustainable environment to the society. For instance, In June 2017, Denka Company Ltd has innovated Hexagonal boron nitride (h-BN) featuring high heat conductivity, heat and corrosion resistance, lubricity and electrical insulation performance powder. Denka’s boron nitride is widely used in resin additives, lubricants and high heat conduction fillers, which is widely used in electronic products.


    Showa Denko K.K is leading Japanese company formed from merger of Nihon electrical Industries and Showa Fertilizers. The company manufactures chemical products and industrial materials. It operates through six segments viz. petrochemicals, chemicals, aluminum electronics, inorganics materials and others. Company has designed to expand individual business through merger and partnerships. In years to come, company wants to focus more into R&D and product launch. In June 2018, Showa Denko K.K launches a product known as hexagonal boron nitride powder SHOBN ™ which is an aggregated powder of boron nitride crystal, which are excellent in fluidity and filling density, this powder finds application in Filler for insulation and high thermal conductivity and for high temperature lubrication.


    ZYP Coatings, Inc. specializes in producing the most complete line of paintable refractory coatings for high temperature protection of metals, ceramics, and graphite. The company has pioneered the use of boron nitride-based coatings for non-wetting applications with molten nonferrous metals. The company focuses on process development for developing high purity hexagonal boron nitride for paints application. For instance, has developed a new, unique, state-of-the-art, continuous process for producing Boron Nitride that provides for highly uniform, ultra-high crystalline, ultra-high purity powder and is the highest quality BN powder available for paints.  In fact, the purity is so high that the powder meets the very strict purity/crystallinity requirements for the costliest cosmetic grade BN powder


    Henze BNP AG, is a home family business manufacturing boron nitride raw materials and semi- finished stock. These are typically used as lubricants, release agents, coatings, fillers as well as components for use in high temperature applications. The company continues to be at the forefront as the leading specialist in hexagonal boron nitride, the company is isolated with boron nitride products which keeps longstanding relationships with raw materials suppliers and benefits production process for well positioned future market. In March 2015, company launched new product, boron nitride oil which is an innovative lubricant additive for engines, gearboxes and other plant and equipment


    3M is primarily engaged in offering broad spectrum products, including adhesives, bonding materials, coatings, and specialty materials. They operate through five business segments including consumer, electronics and energy market, healthcare, industrial and safety 3M operates globally through its subsidiaries. The company operates with 140 manufacturing facilities in 40 countries around the world. Strategic acquisitions and significant investment in R&D. For instance, 3M boron nitride cooling fillers are a family of advanced ceramic materials used to improve thermal conductivity in polymers while maintaining or improving electrical insulation.