The Global Hexagonal-Boron Nitride (h-BN) Powder Market was worth USD 905 million in 2023 and is anticipated to reach a valuation of USD 1,213 million by 2029 from USD 950 million in 2024. It is predicted to register a CAGR of 5% during the forecast period 2024-2029.
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 requirements in various applications. Due to its lubricating nature, it can be used as a mold release agent for metal injection. When it comes to boron nitride, it is non-toxic and a bad conductor of electricity and heat.
Across the world, the consumer electronics business has been 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 preferred for emerging applications like deep UV (DUV) optoelectronics, electron emitters, and neutron detectors. With the increase in the preference for h-BN material and the expansion of the electrical and electronics sector, the hexagonal-boron nitride (h-BN) powder market is anticipated to grow.
The notable qualities of the h-BN powder are chemical inertness, high thermal conductivity, high electrical resistance, and lubricity, which drive the growth of the Hexagonal-Boron Nitride (h-BN) Powder Market. These features act as a competitive advantage over the substitutes that drive 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 and 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.
Compared to the available substitutes, the enormous volume of the hexagonal-boron nitride powder significantly impacts 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 limit its application. It could become a challenging factor for the market growth rate.
Some 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. Products will enhance their applications, and profitability opportunities can be extended for market players during the forecast period. Additionally, the potential growth of the hexagonal-boron nitride (h-BN) powder market can be anticipated with cosmetic manufacturers' capacity expansion and migration. 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.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
5% |
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Segments Covered |
By type, application, and region. |
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Various Analyses Covered |
Global, Regional, & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
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, and Others. |
The powder type segment is expected to have a high demand in the Hexagonal-Boron Nitride (h-BN) Powder Market. The product's unique properties, such as high thermal conductivity, lubricity, high electrical insulation, and thermal stability, make it a best fit for the wide range of applications that will increase the demand.
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.
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 2023, China will be the largest consumer of personal care products, and it is expected 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, which positively impacts the market. North America also dominates the market in terms of market share and revenue. This region's high adoption in the medical field contributes to market growth. Shortly, an increase in new technological products in this region is expected to drive market expansion.
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.a
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