Hexagonal Boron Nitride Market size to increase by USD 345.2 million between 2022 to 2027, 3M Co., American Elements, BORTEK Boron Technologies and Mechatronic Inc., and more among key companies, Technavio

NEW YORK, March 4, 2024 /PRNewswire/ -- The hexagonal boron nitride market size is expected to grow by USD 345.2 million from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 6.35% during the forecast period, according to Technavio. An abundance of boron minerals is notably driving the hexagonal boron nitride market. However, factors such as the high cost of hexagonal boron nitride may impede market growth. The market is segmented by Application (Coatings and mold release agents, Electrical insulation, Lubricants, Refractory, and Others), End-user (Automotive, Electronics, Aerospace, Metallurgy, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). View PDF Sample

We provide a detailed analysis of 20 companies operating in the hexagonal boron nitride market including  3M Co., American Elements, BORTEK Boron Technologies and Mechatronic Inc., Compagnie de Saint Gobain, Denka Co. Ltd., Henze Boron Nitride Products AG, Hoganas AB, JFE Holdings Inc., Kennametal Inc., KYOCERA Corp., Liaoning PengDa Technology Co. Ltd., Momentive Performance Materials Inc., PJSC Zaporozhsky Abrasivny Combinat, Resonac Holdings Corp., Shin-Etsu Chemical Co. Ltd., Supervac Industries LLP, UK Abrasives Inc., Yingkou Liaobin Fine Chemical Co. Ltd., Zibo Xinfukang Specialty Materials Co. Ltd., and ZYP Coatings Inc. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a Sample Report.

Company Analysis

3M Co: The company offers hexagonal boron nitride products such as cooling filler platelets.This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information.

Application

• The coatings and mold release agents segment is estimated to witness significant growth during the forecast period. Metals, graphite, ceramics, and organic materials are some of the key materials included in hexagonal boron nitride coatings. The ability to withstand high temperatures up to 2750 degrees F is one of the key features of hexagonal boron nitride coatings.
• Other segments include End-user (automotive, electronics, aerospace, metallurgy, and others).

Geography 

• APAC will contribute 51% to the growth of the global market during the forecast period. Factors such as the increase in the consumption of hexagonal boron nitride in growing end-user segments such as coatings, lubricants, mold release agents, and electrical insulation boost regional market growth. Additionally, China is one of the major countries in APAC with the largest market share in the market. This is because of the considerable growth in lubricants, coatings, and electrical insulation applications.
• Other regions include North America, Europe, Middle East and Africa, and South America. View a PDF Sample Report

Analyst Review

In the dynamic landscape of industrial commodities, the market stands out as a versatile and indispensable player. HBN, a compound known for its exceptional properties, finds applications across diverse sectors, ranging from automotive activities to skincare product requirements, reflecting its widespread utility and significance.

One of the key factors influencing the HBN market is oil prices. As oil prices fluctuate, they directly impact the production costs of industrial lubricants, including those containing HBN. This correlation underscores the importance of monitoring oil price trends for stakeholders in the HBN market.

Within the automotive sector, the engine oil segment constitutes a substantial portion of HBN usage. HBN, with its high-temperature stability, is an ideal additive for engine oils, enhancing lubrication and prolonging engine life—a crucial aspect for the automotive industry, particularly in high-performance engines.

Moreover, the demand for HBN extends beyond automotive activities to encompass various other sectors such as high-temperature paints and coatings, catering to the stringent requirements of the electrical and electronics sectors. In electronic applications, HBN serves as an excellent electrical insulator, contributing to the reliability and safety of electronic devices, including those in the consumer electronics industry.

In the context of global trade dynamics, initiatives like Digital India and Make in India play a pivotal role in shaping the HBN market landscape. These initiatives, coupled with favorable FDI policies, attract investments and foster innovation, driving growth in sectors where HBN finds substantial usage.

Furthermore, organizations like the India Brand Equity Foundation (IBEF) provide valuable insights and support to businesses operating in the HBN market, facilitating market expansion and export opportunities.

As technological advancements continue to evolve, the demand for HBN in cutting-edge applications such as 2D HBN for electronic and high-tech industries is on the rise. Associations like OICA and JEITA actively contribute to the development and standardization of HBN-based products, ensuring their seamless integration into various sectors.

In conclusion, the HBN market is intricately connected to a myriad of industries and global initiatives, reflecting its indispensable role in modern industrial processes. With its diverse applications and remarkable properties, HBN remains a vital component driving innovation and progress across multiple sectors worldwide. View a PDF Sample Report

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ToC:

1. Executive Summary
2. Landscape
3. Sizing
4. Historic Size
5. Five Forces Analysis
6. Segmentations
7. Customer Landscape
8. Geographic Landscape
9. Drivers, Challenges, and Trends
10. Vendor Landscape
11. Vendor Analysis
12. Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Infiniti Research, Inc.