Hexagonal Boron Nitride (HBN) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market for hexagonal boron nitride is expected to register a CAGR of over 5. 5% during the forecast period. 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.

New York, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hexagonal Boron Nitride (HBN) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06028478/?utm_source=GNW


- The coatings/mold release/spray segment dominated the market, 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
Coatings/Mold Release/Spray Application to Dominate the Market

- Hexagonal boron nitride coating creates a layer of boron nitride powder on a variety of materials, ranging from metal and plastics to ceramics and wood.
- This coating is ideal for creating a high temperature protective release coating, forming a ‘barrier layer’ between dissimilar materials, or as a high-performance lubricant on wear parts. This type of coating comes in a thick liquid form that can be brushed or it can be diluted with water to make its consistency more appropriate for spraying or dipping.
- By combining hexagonal boron nitrides’ unique properties of high thermal conductivity, excellent lubricating abilities, and low electrical conductivity with the functionality of a paint, the coating offers unsurpassed performance as an anti-stick release agent and lubricant in an incredibly convenient form.
- Presently, hexagonal boron nitride coating is one of the highest performing dry film lubricants in the market, having the highest temperature resistance. It can sustainably be used at approximately 900°C, while other coatings may start degrading at much lower temperatures. Boron nitride’s co-efficiency stays almost unchanged over a large range of temperatures.
- Hexagonal boron nitride aerosol spray can be used with a wide range of materials. They are quick drying, have excellent lubricating properties, high thermal conductivity, low thermal expansion, high temperature stability, prevents adherence/reaction/galling, good chemical inertness, low dielectric constant, non-wetting, and maintains properties in nearly any environment, high temperatures, vacuums, etc.
- Owing to all the aforementioned factors, the market for hexagonal boron nitride is projected to grow during the forecast period.

Asia-Pacific Region to Lead the Market

- Asia-Pacific dominated the market studied, and is expected to witness the highest CAGR throughout the forecast period, followed by the Middle East & Africa; due to 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. Saint-Gobain is the leading producer in the market, with a wide range of boron nitride product offerings for different applications. Other key players include 3M, Höganäs AB, Showa Denko K.K., and Denka Company Limited, among others.

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