Hyderabad, Aug. 22, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Hexagonal Boron Nitride (HBN) Market Report (2023-2028)," the market is estimated at USD 818.67 million in 2023. It is expected to register a CAGR of 4.94% during the forecast period.
Hexagonal boron nitride (HBN), also known as white graphite, has diverse applications in fields like metallurgy and cosmetics. Its demand is increasing for use in personal care products, offering more opportunities for the market to grow in the coming years. The demand from high-temperature paints, coatings, electrical, and electronics sectors is also driving the market. China and Japan are strong markets for hBN, making Asia-Pacific the leading region in terms of market share.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 818.67 million |
| Market Size (2028) | USD 1.04 billion |
| CAGR (2023-2028) | 4.94% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growing demand for HBN in personal care products. |
| Demand from high-temperature paints, coatings, electrical, and electronics sectors. |
Who are the Top Companies in the Global Hexagonal Boron Nitride (HBN) Market?
The market is consolidated. The significant players in the global hexagonal boron nitride market are,
- 3M
- American Elements
- Denka Company Limited
- Grolltex Inc.
- Henze Boron Nitride Products AG
- Höganäs AB
- Kennametal Inc.
- Momentive
- Resonac Corporation
- Saint-Gobain
- UK Abrasives Inc.
- Zibo Sinyo Nitride Materials Co. Ltd
- ZYP Coatings Inc.
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Key Highlights from the Global Hexagonal Boron Nitride (HBN) Market Report:
High Growth in Electrical Insulation Segment
- 2D hBN has diverse electronic applications, including substrates, gate dielectrics for graphene transistors, and electron emitters.
- The consumer electronics industry is growing rapidly worldwide, driven by demand for devices like phones, laptops, and gaming systems.
- These factors are likely to impact the hexagonal boron nitride market in the future.
Asia-Pacific Dominating the Market
- The Asia-Pacific region, particularly India and China, is expected to dominate the hexagonal boron nitride (HBN) market due to high consumption from various applications.
- China is a major consumer and producer of lubricants and greases, driven by manufacturing and rapid growth in industrial and automotive sectors.
- Japan is a significant electronics consumer due to urbanization and increased disposable income, leading to higher consumption of consumer electronics products.
- The Indian electronics market is projected to reach a value of USD 400 billion by 2025, making India a major consumer electronics industry, opening up more opportunities for the market to grow.
What are the Latest Developments in the Global Hexagonal Boron Nitride (HBN) Market?
- In April 2023, Haydale signed a collaboration agreement with Saint-Gobain to facilitate the further development of Saint-Gobain's Boron Nitride (hBN) Powder Solutions.
- The Government of India took several steps to promote the domestic electronics manufacturing industry and exports, including the Modified Special Incentive Package Scheme (M-SIPS), which provides a 20-25% subsidy for capital expenditure investments to set up an electronics manufacturing facility.
Mordor Intelligence has Segmented the Global Hexagonal Boron Nitride (HBN) Market Based on Type, Application, and Geography.
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Tubes
- Rods
- Powder
- Gaskets
- Plates and Sheets
- Other Types
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Coatings/Mold Release/Spray
- Electrical Insulation
- Composites
- Industrial Lubricants
- Thermal Spray
- Personal Care (Including Cosmetics)
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Hexagonal Boron Nitride (HBN) Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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