(MENAFN- IMARC Group)
IMARC Group's report titled“ Hexagonal Boron Nitride (HBN) Market Report by Type (Tubes, Rods, Powder, Gaskets, Plates and Sheets, and Others), Application (Coatings/Mold Release/Spray, Electrical Insulation, Composites, Industrial Lubricants, Thermal Spray, Personal Care (Including Cosmetics), and Others), and Region 2024-2032 “. The global hexagonal boron nitride hbn market size reached US$ 801.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,115.2 Million by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/hexagonal-boron-nitride-market/requestsample
Factors Affecting the Growth of the Hexagonal Boron Nitride Industry:
Increasing Use in Electronics:
The rising utilization of hexagonal boron nitride (h-BN) in the electronics industry due to its exceptional thermal conductivity and electrical insulation properties is impelling the growth of the market. It is used in the production of semiconductors, electronic devices, and thermal interface materials. This demand is driven by the ongoing miniaturization of electronic components, where effective heat dissipation is crucial. Manufacturers are continuously seeking materials that can withstand high temperatures and electrical stresses, making h-BN an ideal choice for enhancing the performance and longevity of electronic devices.
Application in Battery Technology:
The increasing employment of h-BN in battery technology and energy storage solutions is propelling the market growth. The growing shift towards electric vehicles (EVs) and renewable energy is driving the demand for more efficient and safer battery technologies. The thermal management properties of h-BN make it an excellent option for use in battery systems, where it can help in heat dissipation, thus improving battery efficiency and safety. Additionally, research operations are also exploring the use of h-BN in various energy storage technologies, including supercapacitors and hydrogen storage. This trend reflects the broader movement towards energy sustainability and the crucial role that advanced materials like h-BN play in it.
The rising adoption of h-BN in the aerospace industry for various components and materials due to its exceptional thermal stability, electrical insulation, and lubrication properties is supporting the market growth. h-BN is employed in manufacturing high-temperature-resistant composites, coatings, and insulators for aircraft engines and airframe structures. Its ability to dissipate heat efficiently aids in preventing overheating and thereby ensuring the safety and reliability of critical aerospace components. In addition, the lubrication properties of h-BN reduce friction and wear in moving parts, such as bearings and gears, enhancing the longevity and efficiency of aerospace systems.
Leading Companies Operating in the Global Hexagonal Boron Nitride Industry:
3M Company American Elements Compagnie de Saint-Gobain S.A. Denka Company Limited Grolltex Inc Henze Boron Nitride Products AG Höganäs AB Kennametal Inc. Showa Denko K.K Supervac Industries LLP UK Abrasives Inc. ZYP Coatings Inc.
Hexagonal Boron Nitride Market Report Segmentation:
By Type:
Tubes Rods Powder Gaskets Plates and Sheets Others
Tubes exhibit a clear dominance in the market due to their superior thermal and electrical insulation properties.
By Application:
Coatings/Mold Release/Spray Electrical Insulation Composites Industrial Lubricants Thermal Spray Personal Care (Including Cosmetics) Others
Coatings/mold release/spray represents the largest segment as these applications benefit from the lubricating and thermal conductivity properties of hexagonal boron nitride.
Regional Insights:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Asia Pacific dominates the market, owing to the extensive use of h-BN in various applications across the region.
Global Hexagonal Boron Nitride Market Trends:
The growing application of h-BN in the 3D printing and additive manufacturing sector is bolstering the market growth. h-BN is being used as a component in advanced 3D printing materials due to its thermal stability and lubricative properties. These characteristics make it ideal for creating components that require high precision and durability, especially in high-temperature environments.
Besides this, the rising integration of h-BN in advanced ceramics is gaining momentum. h-BN is used to improve the thermal and mechanical properties of ceramic materials, making them suitable for extreme environments. This is particularly relevant in sectors, such as defense, aerospace, and electronics, where materials are required to withstand high temperatures and mechanical stress.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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