Hexagonal Boron Nitride Market 2023 Rising at 6.10% CAGR | Opportunities | Vendors | Regions | Challenges

Hexagonal Boron Nitride Market – Market Overview

Hexagonal Boron Nitride is a type of advance ceramic with superior chemical, thermal, and electrical properties. It is available in four different crystalline structures viz., hexagonal BN (h-BN), cubic BN (c- BN), wurtzitic BN (w-BN) and rhombohedral BN (w-BN). Among the aforementioned types, hexagonal and cubic are the most commonly used among the end-use industries. The market is poised to register a healthy CAGR of 6.10% during the forecast period to reach USD 916.9 million by 2023. The primary factor driving the Hexagonal Boron Nitride Market for its superior properties, which in turn has gained traction among an array of end-use industries including coatings & mold release, paint, personal care, lubricants, and electronics among others.

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The biggest challenge in the market is the high price of the product as compared to its alternatives, the manufacturers in the market are actively involved in developing cost-effective products without jeopardizing the product quality.

Hexagonal Boron Nitride is produced using various process melamine process and carbothermic process to name some. Hexagonal Boron Nitrides comes in different particle size, purity, and crystallinity. The prices differ according to the purity and the product form vary according to applications. Manufacturers are involved in improving the production methods to achieve optimum product quality at cost effective prices. For instance, ZYP Coatings, Inc., has developed a new state-of-the-art process for developing Hexagonal Boron Nitride process. The process developed by the company is a continuous process which helps in achieving highly uniform, ultra high crystalline, ultra high purity powder and is the highest quality Hexagonal Boron Nitride powder available for paints. The latter aspects are hard to meet with batch process commonly employed.

In terms of end-use coatings and mold release accounts for the largest share in terms of value and volume, subsequent growth of these industries will further offer lucrative opportunities for Hexagonal Boron Nitride. The recent capacity additions from mold release agent manufacturers will offer further opportunities for Hexagonal Boron Nitride. For instance, Covestro a leading manufacturer of mold release agent products announced capacity additions in Europe and China in line with the rising demand for mold release agents from various end-use industries.

Furthermore, emerging application of Hexagonal Boron Nitride in the personal care industry owing to its good slip and adhesion properties in skincare products. On the plus side, hexagonal boron nitride being a non-toxic eco-friendly ingredient, it used in nearly 643 cosmetic formulations. As per recent analysis, the personal care industry in developed markets is in the mature stage, however, the developing economies hold extreme potential. Thus, the capacity addition in the personal care sector in Asia Pacific and Middle East will offer lucrative opportunities for Hexagonal Boron Nitride as a cosmetic ingredient. Personal care sector as an application is the fastest growing prospect for hexagonal boron nitride.

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Hexagonal Boron Nitride Market – Competitive Analysis

Though the competition in the industry is not so intense the manufacturers are majorly involved in developing cost effective products without jeopardizing its purity and for new applications. For instance, Saint-Gobain a leading player in the Hexagonal Boron Nitride space has unveiled its new range of Hexagonal Boron Nitride products in the Ceramics Expo 2016. The new range of products include, Combat® for industrial and high-temperature applications, CarboTherm™ for thermal management applications, IDEALUBE® for lubrication and mold release applications and TRÈS BN® for cosmetics markets. Also, Merck KGaA, leading producer of cosmetic ingredients have launched hexagonal boron nitride fillers under the brand name RonaFlair® Boroneige® SF-12 specifically dedicated for cosmetic industry addressing the increasing need from personal care industry.

Industry/ Innovation/ Related News:

August, 2017 – In 2017, Saint-Gobain launched product in Boron Nitride family, as Combat®Boron Nitride Grade SiZBN. This composite material is ideal grade for molten metal and steel contact application. With this launch the company has further strengthened its portfolio in the Hexagonal Boron Nitride Market.

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