Global hexagonal boron nitride market is expected to reach USD 818.9 million in 2021 and to grow at a CAGR of 5.3% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 09/07/2017 -- Zion Market Research has published a new report titled "Hexagonal Boron Nitride Market (Premium Grade (PG), Standard Grade (SG) and Custom Grade (CG)) for Cosmetics, Coatings & Mold Release, Xerographic Process and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021". According to the report, global hexagonal boron nitride Market was valued at over USD 602.4 million in 2015, is expected to reach above USD 818.9 million in 2021 and is anticipated to grow at a CAGR of slightly above 5.3% between 2016 and 2021.
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Hexagonal BN (h-BN) is the most widely used polymorph. Hexagonal boron nitride has a low micron particle size which offers enhanced adhesion and film uniformity. Hexagonal boron nitride powder is mainly synthesized by three major methods such as hot-pressing, precursor in filtration process and pyrolysis (PIP) and chemical vapor deposition (CVD). Hot-pressing is a widely used process of simultaneous molding and sintering in press-moulds at high temperatures.
Hexagonal boron nitride lubricants are widely used in automobile industry. Thus, tremendously expanding automotive industry is likely to spur the growth of hexagonal boron nitride in the forecast period. Rapidly developing industrialization and urbanization in emerging economies is expected to boost the growth of this market. Growing use of hexagonal boron nitride as a slip modifier in the cosmetic industry is expected to assist the further growth of the market in the coming years. However, the high cost of hexagonal boron nitride over its substitute may hamper the growth of hexagonal boron nitride market. Nonetheless, ongoing research for innovating novel products is anticipated to propel the growth of hexagonal boron nitride market in the forecast period.
Some of the major hexagonal boron nitride products are the premium grade, standard grade, and custom grade. Premium grade is majorly used in much end user industry such as cosmetic and lubricants. Therefore, premium grade lead the market in 2015 and is likely to maintain its pace in the coming years. Cosmetics, coatings & mold release, xerographic process, and others are most prominent applications for hexagonal boron nitride market. Amongst, coatings and mold release segment dominated the hexagonal boron nitride market with significant market share in 2015. Hexagonal boron nitride is extensively used in the coating & mold release and cosmetic industry for attaining high quality and effective product which significantly contributes to the growth of hexagonal boron nitride market.
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The hexagonal boron nitride market was dominated by Asia Pacific in 2015 and was considered to be the highest revenue generating region. This was mainly due to the high consumption of hexagonal boron nitride in different end user industry such as coating and mold release, lubricant and cosmetic industry. Emerging economies such as India, China and Japan are expected to be the most prominent markets in the near future due to increasing growth in the coating and electrical insulation industry in these regions. In 2015, Europe was considered the potent markets for the hexagonal boron nitride market. This was mainly due to tremendously ongoing research for developing broad product line using hexagonal boron nitride. Latin America is expected to experience lucrative growth over the period of years due to growing the cosmetic industry in Brazil and Argentina. The Middle East and Africa are anticipated to propel the growth of hexagonal boron nitride market in forecast period owing to increasing use of coatings in oil and gas and construction industry.
Some of the global major players in the hexagonal boron nitride are Saint-Gobain, Momentive Performance Materials, 3M Company, H.C. Starck, UK Abrasives, Denka, Henze, Showa Denko Group, Shin-Etsu Chemical and Eno High-Tech Material among others. Saint-Gobain, 3M Company, Denka are most prominent players in the market.
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This report segments the global hexagonal boron nitride powder market as follows:
Hexagonal Boron Nitride Powder Market: Product Analysis
Hexagonal Boron Nitride Powder Market: Application Analysis
Coatings & Mold Release
Others (Nanotubes etc.)
Hexagonal Boron Nitride Powder Market: Regional Analysis
The Middle East and Africa