Hexagonal Boron Nitride (HBN) Market Analysis Report 2023 - 2029

According to Precision Business Insights (PBI), latest report hexagonal boron nitride (hbn) market was valued at USD 780.3 million in 2022, growing at an 4.86% CAGR during the forecast period 2023 to 2029. Increasing use in industrial operations like metalworking, molding, and aerospace for coating and lubrication to increase efficiency and save wear and tear on machinery drives the Hexagonal Boron Nitride (HBN) market. HBN has increased opportunities for use in high-performance energy storage devices like batteries and supercapacitors due to the rising popularity of electric vehicles and renewable energy sources due to its electrical insulating properties and thermal stability. Moreover, the study and creation of HBN-based nanocomposites are appealing for usage in a variety of industries, including electronics, aerospace, and automotive, attributed to their improved mechanical, thermal, and electrical properties. Furthermore, the increased industrial applications, industrialization, modernization, and favourable government support to promote gadget production contribute immensely to market growth.

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The global hexagonal boron nitride (hbn) market is segmented based on types, applications, and geography.

Based on the types, the market is segmented into the following:
• Tubes
• Rods
• Powder
• Gaskets
• Plates and Sheets
• Others

Based on the application, the market is segmented into the following:
• Coatings/Mold Release/Spray
• Electronics and Semi-Conductors
• Composites
• Industrial Lubricants
• Thermal Spray
• Personal Care
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Based on the Application, Electronics and Semiconductors sector is anticipated to show a significant growth rate in the market share over the forecasting period. The increased demand for electronic devices like cellular phones, portable computing devices, gaming systems, and other personal electronic devices increases the consumption volume of hexagonal boron nitride. Hexagonal boron nitride is a suitable material for electronic devices since it is transparent, strong, insulating, thermally conductive, and very thin. It is also used in semiconductor manufacturing as a substrate for growing and processing high-performance semiconductors. Its high purity and chemical stability ensure the reliability of semiconductor devices.

North America Leads Hexagonal Boron Nitride (HBN) Market:
The Hexagonal Boron Nitride (HBN) market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for a significant share of the Hexagonal Boron Nitride (HBN) market. The United States is a significant user of HBN, with a strong presence in industries such as aerospace, electronics, automotive, and defense. The focus on environmentally friendly technologies and the growing popularity of electric vehicles both contribute to the market's expansion. The region has strict laws prohibiting the use of dangerous compounds, which increases demand for high-performance, ecologically safe materials like HBN. Asia Pacific region is anticipated to grow in the forecasting period owing to the region's well-known status as a manufacturing hub for electronics and automobiles, The Asia-Pacific Hexagonal Boron Nitride industry will dominate this industry. The personal care and cosmetics sector is rapidly growing, and skin-lightening treatments and equivalents are among the most popular skincare items in this region. In addition, the Indian market for hexagonal boron nitride in the Asia-Pacific area had the quickest rate of growth. China's market for the material also had the largest market share.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players

The Hexagonal Boron Nitride (HBN) market further reveals that the key players increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,

In September 2022 Henze Boron Nitride Products introduced HeBoFill LL-SP 060, an innovative boron nitride powder characterized by its exceptional purity and minimal agglomeration.

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Key player's profiles in the Hexagonal Boron Nitride (HBN) Market report are 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.

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