Hexagonal Boron Nitride Powder Market Size, Share, Trends, Growth 2032

Hexagonal Boron Nitride Powder Market Insights

According to Zion Market Research, the global Hexagonal Boron Nitride Powder Market was worth USD 886.23 Million in 2023. The market is forecast to reach USD 1207.84 Million by 2032, growing at a compound annual growth rate (CAGR) of 3.5% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Hexagonal Boron Nitride Powder Market industry over the next decade.

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Hexagonal Boron Nitride Powder Market: Overview

Boron nitride is a compound that is thermally and chemically resistant. Its hexagonal form is one of its crystalline forms. Hexagonal boron nitride is a soft and stable boron nitride polymorph. It has excellent lubricating properties owing to its property of low coefficient of friction. In addition to this, this compound has certain other properties such as excellent chemical inertness, thermal conductivity, high-temperature stability, electrical insulator, and high load-bearing properties. Due to the advantageous properties of hexagonal boron nitride, it is rapidly being used in various applications such as coatings and mold release, lubrication, composites, electrical insulator, and others.

Various mergers and acquisitions by market players are expected to tower the development of the hexagonal boron nitride market. For example, in April 2018, Showa Denko concluded the acquisition of SGL GE Holding GmbH (a graphite electrode manufacturing firm), and made it a completely controlled subsidiary.

COVID-19 Impact Analysis  

The global Hexagonal Boron Nitride Powder market has witnessed a slight decline in sales for the short term to the lockdown enforcement placed by governments in order to contain COVID spreading. The restrictions imposed by various nations to contain COVID had stopped production resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand. The market would remain bullish in the upcoming year.  The significant decrease in the global Hexagonal Boron Nitride Powder market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Hexagonal Boron Nitride Powder Market: Growth Factors

Hexagonal boron nitride lubricants are majorly employed in the automobile sector, thereby tremendously extending all the way through the automotive sector and spurring the development of the hexagonal boron nitride market in the years to come. Rapidly growing urbanization and industrialization in up-and-coming nations are likely to drive the development of the hexagonal boron nitride market. Increasing employment of hexagonal boron nitride in the cosmetic sector as a slip modifier is likely to help in the development of the hexagonal boron nitride market in the years to come.

On the other hand, the high price of hexagonal boron nitride as compared to its substitute might hinder the development of the hexagonal boron nitride market. Nevertheless, in-progress research for innovating novel goods is likely to boost the development of the hexagonal boron nitride market in the years to come.

Hexagonal Boron Nitride Powder Market: Segment Analysis Preview  

The Hexagonal Boron Nitride Powder market is segmented on the basis of different products including Premium Grade, Standard Grade, and Custom Grade. In 2020, Premium Grade was the largest segment of the Hexagonal Boron Nitride Powder market and accounted for the largest share of the total market. Additionally, it is expected to continue its dominance and be the fastest-growing segment in the global market over the forecast period.

Hexagonal Boron Nitride Powder Market: Report Scope

Hexagonal Boron Nitride Powder Market: Regional Analysis Preview  

The hexagonal boron nitride market was ruled in 2020 by the Asia Pacific and was believed to be the uppermost income-generating area. This was majorly owing to the high usage of the hexagonal boron nitride market in various end-user sectors such as the cosmetic & lubricant industry and mold release & coating. Emerging nations such as China, India, and Japan are likely to be the most important areas for the hexagonal boron nitride market in the near future owing to elevating growth in the electrical insulation & coating sector. In 2020, Europe was believed to be the potent area for the hexagonal boron nitride market.

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Hexagonal Boron Nitride Powder Market: Players & Competitive Landscape

Some of the major players of the global Hexagonal Boron Nitride Powder market include

• Momentive Performance Materials
• Saint-Gobain
• H.C. Starck
• 3M Company
• Denka
• UK Abrasives
• Showa Denko Group
• Henze
• Eno High-Tech Material
• Shin-Etsu Chemical

The global Hexagonal Boron Nitride Powder Market is segmented as follows:

By Products

• Premium Grade
• Standard Grade
• Custom Grade

By Applications

• Cosmetics
• Mold Release & Coatings
• Xerographic Process
• Others (Nanotubes etc.)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa