News

Oct 03, 2023

The Hexagonal Boron Nitride market size to grow at a CAGR of 6.35% from 2022 to 2027

News provided by 04 Aug, 2023, 06:00 ET Share this article NEW YORK, Aug. 4, 2023 /PRNewswire/ -- The hexagonal boron nitride market is expected to grow by USD 345.2 million during the five-year

News provided by

04 Aug, 2023, 06:00 ET

Share this article

NEW YORK, Aug. 4, 2023 /PRNewswire/ -- The hexagonal boron nitride market is expected to grow by USD 345.2 million during the five-year forecast period, according to Technavio. As per the latest report, the market will progress at a CAGR of 6.35% from 2022 to 2027. The commercialization of boron nitride nanotubes is a major trend in the market. Boron nitride nanotubes are cylindrical in shape, like carbon nanotubes. Optical and infrared transparency, electrical conductivity, thermal conductivity, flexibility, high tensile strength, and electrical insulation are some of the key characteristics that nanotubes offer. These nanotubes find their application in several industries such as pharmaceutical, medical, defense, aerospace, energy, and automotive industries due to which they are considered as a potential alternative to carbon nanotubes. Hence, these factors are expected to drive market growth during the forecast period. View the new Sample Report within minutes!

Hexagonal Boron Nitride Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our hexagonal boron nitride market report covers the following areas:

Hexagonal Boron Nitride Market 2023-2027: SegmentationThe hexagonal Boron Nitride Market is segmented as below:

The coatings and mold release agents segment is estimated to witness significant growth during the forecast period. Metals, graphite, ceramics, and organic materials are some of the key materials included in hexagonal boron nitride coatings. The ability to withstand high temperatures up to 2750 degrees F is one of the key features of hexagonal boron nitride coatings. In addition, hexagonal boron nitride coatings include other properties such as abrasion resistance and durability on many surfaces, including aluminum, steel, zinc, metal, magnesium, and alloys.

What's New? -

Hexagonal Boron Nitride Market 2023-2027: Market Dynamics

Key Drivers

The abundance of boron minerals is a key factor driving market growth. Boric acid and boron trioxide are one of the most important raw materials for producing hexagonal boron nitride, which is obtained from about 200 naturally occurring boron minerals. Furthermore, the various factors such as hardness, thermal conductivity, high-temperature resistance, chemical inertness, stability, and non-toxicity of boron determine the market. Turkey, the US, China, Argentina, Chile, Bolivia, and Peru are major boron producers. In addition, turkey is a major boron producer on the market. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The high cost of hexagonal boron nitride is one of the key challenges restricting market growth. The other materials such as graphite, molybdenum disulfide, and tungsten disulfide are less expensive compared to hexagonal boron nitride. Furthermore, prices for standard-grade hexagonal boron nitrides used for industrial purposes range from USD 55 to USD 130/kg, and prices for premium-grade (high purity) hexagonal boron nitrides for specific applications, such as cosmetics, are in the range of USD 350 to USD 800/kg. Therefore, the high cost is expected to restrict market growth during the forecast period.

Hexagonal Boron Nitride Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 3M Co., 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. are some of the major market participants.

Company Offering

Hexagonal Boron Nitride Market 2023-2027: Key Highlights

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports

The magnesite market is estimated to grow at a CAGR of 5.48% between 2022 and 2027. The market size is forecast to increase by USD 2,857.29 million. Furthermore, this report extensively covers market segmentation by product (magnesite ore, dead burned magnesia, and fused magnesia), application (refractory, fillers and binders, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The growing demand for refractories from the steel industry is a key factor driving market growth during the forecast period.

The methylene diphenyl diisocyanate (MDI) market is estimated to grow by USD 7.17 billion between 2022 and 2027 exhibiting a CAGR of 4.97%. Furthermore, this report extensively covers market segmentation by End-user (construction, furniture and interiors, electronics and appliances, automotive, and others), Product (rigid foam, case, flexible foam, and others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa). The growing demand for MDI from emerging economies is a key factor driving market growth during the forecast period.

Hexagonal Boron Nitride Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.35%

Market growth 2023-2027

USD 345.2 million

Market structure

Fragmented

YoY growth 2022- 2023 (%)

4.97

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 51%

Key countries

US, China, South Korea, India, and Germany

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., 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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio