Hexagonal Boron Nitride Market Forecast by 2023: Top Global Competitors - 3M, Saint-Gobain, Kennametal, H.C. Stark GmbH, Henze BNP AG, ZYP Coatings Inc., Denka Company Ltd.

Market Highlights:

The Hexagonal Boron Nitride Market is estimated to be valued at USD 916.934 million by the end of 2023, expanding at a CAGR of 6.10% during the forecast period. This is attributed to the increasing penetration of Hexagonal Boron Nitride across various industrial applications due to its superior properties, increasing demand from the personal care segment, and rising popularity in electronics & semiconductor industry among others.

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Application of Hexagonal Boron Nitride as coatings & mold release accounted for the largest share of the market on account of the superior properties of hexagonal boron nitride over its alternative; graphite. Cosmetics is the another substantial segment, which is growing at a highest CAGR, among the other applications of the Hexagonal Boron Nitride.

Key Findings:

Global Hexagonal Boron Nitride Market is projected to reach USD 9, 16,934.4 thousand by the end of 2023, expanding at a CAGR of 6.10%. Asia Pacific to account for largest share due to growing application industries in this region. Hexagonal Boron Nitride Market is a semi-fragmented market, however, tier1 manufacturers dominate the market. Asia Pacific is the largest producer and consumer of Hexagonal Boron Nitride, Asia-Pacific accounted for more than half of the overall hexagonal boron nitride market. Emphasis on process and product development are some of the major trends identified in this market.

Intended Audience:

• Hexagonal Boron Nitride Manufacturers
• Traders and Distributors of Hexagonal Boron Nitride
• Ceramic Associations
• Potential Investors
• Raw Material Suppliers

Regional Analysis:

Geographically, the Global Hexagonal Boron Nitride Market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Based on revenue, North America market accounts for the second-largest market share for Hexagonal Boron Nitride and is estimated register USD 213,558.1 thousand mark by value till the end of 2023. This is primarily owing to the presence of leading manufacturers in the region with superior product offering. The North America is which is followed by European market, which held 19.30% share of the market in 2016.

The Asia Pacific region is the largest market for Hexagonal Boron Nitride Market, which is estimated to grow at highest CAGR of 6.99% during the review period. This is attributed to a strong footprint of Hexagonal Boron Nitride manufacturers along with the emerging industrial sector in the region are some of the market impetus factors fostering growth of Hexagonal Boron Nitride Market in the region. Moreover, the factors such as bolstering growth of personal care industry is expected to boost the demand for Hexagonal Boron Nitride in the region.

Market Segmentation:

Global Hexagonal Boron Nitride Market has been segmented on the basis of type, application, and region.

On the basis of Type, the market is categorized into tubes, rods, plates, gaskets, crucibles, sheets and others. Among the aforementioned types, the tubes segment is estimated to grow at highest CAGR of 6.68% due to the increasing applications of tubes as nozzles and electric insulators.
Based on Applications, the Global Hexagonal Boron Nitrides Market is segmented into electrical insulation, lubrication industrial, coatings & mold release, cosmetics, composites, thermal spray and others. The coatings & mold release is the largest application segment, among others, holding 33.25% share of the market. This is attributed to the advantageous properties offered by the product such as high thermal conductivity, lubricity, and good thermal expansion. In addition to coatings and mold release, cosmetics is another significant segment growing highest CAGR.

Leading Global Players:

Some of the prominent players of the Global Hexagonal Boron Nitride Market are; 3M, Saint-Gobain, Denka Company Ltd, Momentive Performance Materials Inc., Kennametal, H.C. Stark GmbH, Showa Denko K.K, Mizushima Ferroalloy Co., Ltd., Henze BNP AG, and ZYP Coatings Inc.

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