Market Overview:
The Hexagonal Boron Nitride Market is estimated to be valued at USD 9,16,934.4 thousand by the end of 2023, expanding at a CAGR of 6.10% during the forecast period. This is attributed to the increasing penetration of Hexagonal Boron Nitride across various industrial applications due to its superior properties, increasing demand from the personal care segment, and rising popularity in electronics & semiconductor industry among others. Application of Hexagonal Boron Nitride as coatings & mold release accounted for the largest share of the market on account of the superior properties of hexagonal boron nitride over its alternative; graphite. Cosmetics is the another substantial segment, which is growing at a highest CAGR, among the other applications.
However, the only bottleneck in a growth trajectory of the Global Hexagonal Boron Nitrides Market is the price of hexagonal boron nitride is higher as compared to its alternatives. Nevertheless, increasing disposable income, rising use of consumer electronics, and capacity expansion by leading players in order to cater growing end uses of the product are some of the key opportunities anticipated to help boost the growth of the market during the review period.
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Major Key Players:
The Major Players operating in the Hexagonal Boron Nitride Market are:
• 3M,
• Saint-Gobain,
• Denka Company Ltd.,
• Momentive Performance Materials Inc.,
• Kennametal,
• H.C. Stark GmbH,
• Showa Denko K.K,
• Mizushima Ferroalloy Co. Ltd,
• Henze BNP AG,
• ZYP Coatings Inc.
Market Segmentation:
The Global Hexagonal Boron Nitride Market is categorized on the basis of Type, Application:
On The Basis Of Type-
• Tubes,
• Rods,
• Plates,
• Gaskets,
• Crucibles,
• Sheets
On The Basis Of Application -
• Electrical Insulation,
• Lubrication Industrial,
• Coatings & Mold Release,
• Cosmetics,
• Composites,
• Thermal Spray
Regional Analysis:
Geographically, Hexagonal Boron Nitride Market is segmented across Five Regions in the world namely:
• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.
As per MRFR analysis, Asia Pacific dominated the market, accounted for the largest share of the market in 2016, and expected to grow at a CAGR of 6.99%. Asia Pacific market is followed by North America, which is accounted for the second largest number of shares in the Global Hexagonal Boron Nitrides market, as of 2016. The region is estimated to reach USD 213,558.1 thousands by the end of 2023. Europe is a substantial region in the market, which accounts for considerable market share. Country wise, China is the leading market, in terms of value and volume, followed by the U.S.
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