Hexagonal Boron Nitride Market Global Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2019 To 2024

The market for hexagonal boron nitride is expected to register a CAGR of 5.44 % during the forecast period (2019-2024). Major factors driving the market studied are the increasing demand from high-temperature paints and coatings, and increasing demand from the electrical and electronics sector.

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The coatings/mold release/spray segment dominated the market in 2017, and is expected to grow during the forecast period. These coatings are ideal for creating a high-temperature, protective release coating, forming a u2018barrier layer’ between dissimilar materials having high thermal conductivity and low electrical conductivity, with the functionality of a paint.
Increasing demand from the personal care sector, owing to requirements in skincare products.
Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and Japan.

Competitive Landscape
The hexagonal boron nitride market is a consolidated, with the top 10 players accounting for nearly 60% of the overall demand, as of 2017. Saint Gobain is the leading producer in the market, with a wide range of boron nitride product offerings for different applications.

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Electric Insulation to Drive the Market Growth
- Hexagonal boron nitride has excellent electrical resistant properties, even in high-temperature conditions, and maintains its lubricating capability.
- The product has the same type of layer structure as graphite, and provides a very good lubrication/mold-release characteristic.
- While graphite is highly active, easily reacts with metals/oxides, and has electrical conductivity, hexagonal boron nitride has electrical insulation, as well as chemical/thermal stability, and is stable up to approximately 3000u00b0C in an inert atmosphere.
- Hexagonal boron nitride is used as an electrical insulator in electronics as a substrate for semiconductors, microwave, transparent windows, seals, electrodes, and catalyst in fuel cell and batteries. It is used as a filler for insulation and heat radiation material.
- According to the Mordor Intelligence study, electrical insulation application is the highest growing segment, due to the increasing demand for insulating materials from the industries involved in high power electronic operations.

Asia-Pacific Region to Lead the Market
In 2017, Asia-Pacific dominated the market studied, and is expected to witness the highest CAGR throughout the forecast period, followed by the Middle East & Africa. The rising demand from countries, such as China, India, Japan, etc. For instance, the increasing oil and gas sector and nuclear industry applications in the country have increased the potential market for industrial lubricants, which, in turn, is expected to provide a bright outlook for HBN in the coming years, owing to better high-temperature properties that can be used for sintering applications. China is the world’s largest electronics production base, and offers a tough competition to existing upstream producers, like South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, tablets, etc., have the highest growth in the market in the consumer electronics segment. With the increase in disposable income of the middle-class population, the demand for electronic products is projected to grow in the near future. The demand for glass is expected to increase in the infrastructure, real-estate, and automotive sectors, thereby giving a boost to the demand for hexagonal boron nitride in the country. Thus, with the growth in various end-user industries in the country, the demand for coatings, composites, semiconductors, industrial lubricants, and thermal spray materials is increasing, which, in turn, is estimated to increase the consumption of hexagonal boron nitride over the forecast period.

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