Apr 1, 2019   SOURCE: BusinessWire

World Hexagonal Boron Nitride Market Outlook to 2024: Anticipating a CAGR of 5.44% During 2019-2024 - ResearchAndMarkets.com

The "Global Hexagonal Boron Nitride Market - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The market for hexagonal boron nitride is expected to register a CAGR of 5.44% during the forecast period (2019-2024).

Major factors driving the market studied are the increasing demand from high-temperature paints and coatings, and increasing demand from the electrical and electronics sector.

The coatings/mold release/spray segment dominated the market in 2017, and is expected to grow during the forecast period. These coatings are ideal for creating a high-temperature, protective release coating, forming a barrier layer' between dissimilar materials having high thermal conductivity and low electrical conductivity, with the functionality of a paint.

  • Increasing demand from the personal care sector, owing to requirements in skincare products.
  • Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and Japan.

Key Market Trends

  • Electric Insulation to Drive the Market Growth
  • Hexagonal boron nitride has excellent electrical resistant properties, even in high-temperature conditions, and maintains its lubricating capability.
  • The product has the same type of layer structure as graphite, and provides a very good lubrication/mold-release characteristic.
  • While graphite is highly active, easily reacts with metals/oxides, and has electrical conductivity, hexagonal boron nitride has electrical insulation, as well as chemical/thermal stability, and is stable up to approximately 3000C in an inert atmosphere.
  • Hexagonal boron nitride is used as an electrical insulator in electronics as a substrate for semiconductors, microwave, transparent windows, seals, electrodes, and catalyst in fuel cell and batteries. It is used as a filler for insulation and heat radiation material.
  • According to this study, electrical insulation application is the highest growing segment, due to the increasing demand for insulating materials from the industries involved in high power electronic operations.

Asia-Pacific Region to Lead the Market

In 2017, Asia-Pacific dominated the market studied, and is expected to witness the highest CAGR throughout the forecast period, followed by the Middle East & Africa. The rising demand from countries, such as China, India, Japan, etc.

For instance, the increasing oil and gas sector and nuclear industry applications in the country have increased the potential market for industrial lubricants, which, in turn, is expected to provide a bright outlook for HBN in the coming years, owing to better high-temperature properties that can be used for sintering applications.

China is the world's largest electronics production base, and offers a tough competition to existing upstream producers, like South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, tablets, etc., have the highest growth in the market in the consumer electronics segment. With the increase in disposable income of the middle-class population, the demand for electronic products is projected to grow in the near future.

The demand for glass is expected to increase in the infrastructure, real-estate, and automotive sectors, thereby giving a boost to the demand for hexagonal boron nitride in the country. Thus, with the growth in various end-user industries in the country, the demand for coatings, composites, semiconductors, industrial lubricants, and thermal spray materials is increasing, which, in turn, is estimated to increase the consumption of hexagonal boron nitride over the forecast period.

Competitive Landscape

The hexagonal boron nitride market is a consolidated, with the top 10 players accounting for nearly 60% of the overall demand, as of 2017. Saint Gobain is the leading producer in the market, with a wide range of boron nitride product offerings for different applications.

Major Players

  • Saint Gobain
  • 3M
  • Showa Denko
  • Denka Company
  • Hoganas AB

Key Topics Covered

1. INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

4.1 Drivers

4.1.1 Increasing Demand for Hexagonal Boron Nitride from High Temperature Paints and Coatings

4.1.2 Increasing Demand from the Electrical and Electronics Sector

4.2 Restraints

4.3 Industry Value Chain Analysis

4.4 Porters Five Forces Analysis

5. MARKET SEGMENTATION

5.1 Type

5.1.1 Tubes

5.1.2 Rods

5.1.3 Powder

5.1.4 Gaskets

5.1.5 Plates and Sheets

5.1.6 Other Types

5.2 Application

5.2.1 Coatings/Mold Release/Spray

5.2.2 Electrical Insulation

5.2.3 Composites

5.2.4 Industrial Lubricants

5.2.5 Thermal Spray

5.2.6 Personal Care (including Cosmetics)

5.2.7 Other Applications (including Dental Cements)

5.3 Geography

5.3.1 Asia-Pacific

5.3.2 North America

5.3.3 Europe

5.3.4 South America

5.3.5 Middle East & Africa

6. COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements

6.2 Market Share Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 3M Company

6.4.2 American Elements

6.4.3 Denka Company Limit

6.4.4 Henze Boron Nitride Products AG

6.4.5 Hoganas AB

6.4.6 Kennametal Inc.

6.4.7 Mizushima Ferroalloy Co. Ltd.

6.4.8 UK Abrasives

6.4.9 Saint-Gobain

6.4.10 SHOWA DENKO KK

6.4.11 GrollTex Inc.

6.4.12 Momentive Performance Materials Inc.

6.4.13 Zibo Sinyo Nitride Materials Co. Ltd.

6.4.14 ZYP Coatings Inc.

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Increasing Demand from the Personal Care Sector, owing to the Requirements in Skincare Products

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