Hexagonal-Boron Nitride (h-BN) Powder Market

Hexagonal-Boron Nitride (h-BN) Powder Market Size, Share, Growth (2023-2028)

Hexagonal-Boron Nitride (h-BN) Powder Market size is valued at USD 3354.56 million by 2028 with a CAGR of 5.04%.

Hexagonal-Boron Nitride (h-BN) Powder Market Overview

An isostructural layered substance in the hexagonal form of boron nitride is the key crystalline form of boron nitride and is called hexagonal boron nitride (h-BN). Hexagonal boron nitride is the polymer of soft boron nitride and the most stable. It is a synthetic material and due to its similar properties to graphite, it is sometimes called white graphite. It has excellent lubricant properties due to a low coefficient of friction. It is usually present in the form of powder. It has beneficial properties such as excellent chemical inertness, thermal conductivity, electric insulator, high load-bearing properties, high-temperature stability, and others that drive the widespread of its requirements in various applications. Due to its lubricating nature, it can be used as a mold release agent for metal injection. When come to boron nitride it is non-toxic and a bad conductor of electricity and heat.

Hexagonal-Boron Nitride (h-BN) Powder Market Drivers

The rise in the need for the electrical insulation segment acts as a market driver

Across the world, the consumer electronics business is being expanding for years due to the increasing demand for mobile phones, portable electronic devices, gaming consoles, and other electronic gadgets. For electronic applications, such as 2D hBN-based substrates, gate dielectrics for graphene transistors and interconnects, and electronic packaging insulators, the ideal material for these applications is 2D HBN. Hexagonal boron nitride is becoming the preferred material for emerging applications like deep UV (DUV) optoelectronics, electron emitters, and neutron detectors. With the increase in the preference for the h-BN material with the expansion of the electrical and electronics sector, the hexagonal-boron nitride (h-BN) powder market is anticipated to have an increase in its growth.

The beneficial properties offered by the hexagonal boron nitride powder drivers the market

The notable qualities of the h-BN powder are chemical inertness, high thermal conductivity, high electrical resistance, and lubricity drives the growth of the Hexagonal-Boron Nitride (h-BN) Powder Market. These features act as a competitive advantage over the substitutes that drives demand for the hexagonal boron nitride powder. The personal care sector is growing in trade which results in the increased demand for skincare products. The trade can be encouraged by the growing demand for the electric and microelectronics domains as well as the rise in demand for high-warmth varnishes and films. The beneficial properties offered by the h-BN in several applications drive the hexagonal-boron nitride (h-BN) powder market demand.

Hexagonal-Boron Nitride (h-BN) Powder Market Restraints

The high cost and availability of substitutes for the h-BN powder are market restraints that limit the growth and expansion of the Hexagonal-Boron Nitride (h-BN) Powder market. The enormous volume of the hexagonal-boron nitride powder as compared to the available substitutes shows a significant impact on the market. The comparatively high cost of the hexagonal boron nitride powder as compared to their alternatives will be a demerit for the market and limits its application. It could become a challenging factor for the market growth rate.

Hexagonal-Boron Nitride (h-BN) Powder Market Opportunities

Some of the key market growth opportunities for the hexagonal-boron nitride (h-BN) powder market are advancements & capacity expansion and growing demand for consumer electronics. Significant developments and advancements have been taken forth by the market players in the process and products will enhance the applications of the product and the profitability opportunities can be extended for the market players during the forecast period. Additionally, the future growth of the hexagonal-boron nitride (h-BN) powder market can be anticipated with the capacity expansion and migration of cosmetic manufacturers. Further, opportunities to the market in terms of new applications can be obtained with the growing consumer electronics market, the rising disposable income of people around the world, and the rapid surge in the expansion of the personal care industry.

COVID-19 Impact on the Hexagonal-Boron Nitride (h-BN) Powder Market

There has been a significant impact on the hexagonal-boron nitride (h-BN) powder market due to the COVID-19 pandemic across the world. The key economic countries had been on complete lockdown to mitigate the impact of COVID-19. The severe lockdown caused a sudden stoppage in consumer market activities mostly the desire to purchase has reduced. International transits in all forms have been shut down due to the non-availability of many services during the pandemic period had been one of the biggest problems faced by the market during the period. The pandemic showed an impact on all industries including paints and coatings which slowdown the market for hexagonal boron nitride powder.  Transportation is one of the most severely affected sectors where the global crisis caused due to the non-availability of shipping facilities resulted in the stoppage of shipping, a slowdown in the demand for exports, and a demand for goods reduced for the hexagonal-boron nitride (h-BN) powder market.

Key developments in the market

• In 2020, AIXTRON developed, produced, and installed the intricate industrial-grade reactor for graphene and hexagonal boron nitride (h-BN). The usage of the innovative CVD tool which is developed as a component of the GIMMIK research project is started. To identify the weak points and develop strategies to avoid the error sources the evaluation of the manufacturing of the graphene layers under industrial settings is intended by the GIMMIK project.

• In 2020, a tiny magnetic field sensor that can operate in a wide range of temperatures by sandwiching ultrathin graphene and hexagonal boron nitride together is created by researchers from Cornell University. Minute changes in the magnetic field that would be lost in the larger magnetic environment can be detected with these sensors.

Hexagonal-Boron Nitride (h-BN) Powder Market Segmentation

By Type

• Tubes

• Rods

• Powder

• Gaskets

• Plates and Sheets

• Other Types

The powder type segment is expected to have a high demand in the Hexagonal-Boron Nitride (h-BN) Powder Market. The unique properties of the product such as high thermal conductivity, lubricity, high electrical insulation, and thermal stability would make it a best fit for the wide range of applications that would increase the demand.

By Application

• Coatings/Mold Release/Spray

• Electrical Insulation

• Composites

• Industrial Lubricants

• Thermal Spray

• Personal Care

• Other Applications

The electrical insulation segment is expected to hold a significant share in the Hexagonal-Boron Nitride (h-BN) Powder Market. The 2D h-BN has several applications in the electronics such as 2D h-BN-based substrates, electronic packaging insulators, gate dielectrics for graphene transistors, and interconnects as it is considered a perfect material. Across the world, the consumer electronics industry is growing rapidly owing to the consistent demand for smartphones, portable devices, gaming systems, and others. some nations like India are increasing the adoption of electronic products that drive the demand for the segment in the market.

Hexagonal-Boron Nitride (h-BN) Powder Market Regional Analysis:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

Asia-Pacific region is expected to have a high market share in the Hexagonal-Boron Nitride (h-BN) Powder Market owing to the presence of India and China, which brags the high significant sales of the HBN due to the growing demand for electronics and various applications. In 2021, China is the largest consumer of personal care products, and expecting it to continue its dominance in the coming years. China is also a large consumer of lubricants & greases, and huge manufacturing activities in different sectors, rapid industrial & automotive sectors drive the market in the region. The government of India also promotes the domestic manufacturing and export of electronics that positively impact the market. North America also dominates the market in terms of market share and revenue. The high adoption in the medical field in this region contributes the market growth. In the near future, an increase in new technological products in this region is expected to drive market expansion.

Hexagonal-Boron Nitride (h-BN) Powder Market Key Players

• Rio Tinto

• Searles Valley Minerals

• Yara International

• AIXTRON

• Kennametal Inc.

• Dalian Jinma Boron Technology Group Co., Ltd

• 3M (U.S.)

• Denka Company Limited

• Showa Denko K.K. (Japan)

• H.C. Starck Tungsten GmbH