CoherentMI has released a report titled “The estimated value of the hexagonal boron nitride market in 2023 is $1.35 billion, and it is expected to achieve $3.1 billion by 2030, with a CAGR(compound annual growth rate) of 12.6% over the forecast period from 2023 to 2030.”.
Various factors drive the hexagonal boron nitride market. Firstly, the growing demand in the electronics industry is expected to drive market growth. Hexagonal boron nitride is widely used to manufacture electronic components such as insulators, semiconductors, and substrates. With the electronics industry’s rapid growth, there is expected to be a significant increase in demand for hexagonal boron nitride.
From a typological perspective, the segmented market for hexagonal boron nitride powder is expected to dominate due to its wide scope of employment and ease of use. Hexagonal boron nitride powder is used in coatings, release agents, lubricants, and other industrial applications.
In electronics and semiconductors, hexagonal boron nitride can be used as a thermal insulation additive for transistors and other electronic devices. Its high thermal conductivity and positive electrical insulation performance make it an ideal thermal management material.
Mechanical processing field
Due to its high stiffness and abrasiveness, hexagonal boron nitride is often used as a raw material for drill bits, grinding materials, and cutting tools, which can significantly improve the tool’s service life and processing efficiency.
In high-temperature environments, hexagonal boron nitride can be used as a lubricant and release agent, and its layered structure can form a lubricating film at the friction interface, reducing the friction coefficient.
Ceramic and composite material reinforcement
Hexagonal boron nitride can serve as a reinforcing agent for ceramics and composite materials, improving their mechanical properties and thermal stability.
High-voltage and high-frequency applications
Hexagonal boron nitride also plays an important role in insulating high-voltage and high-frequency plasma arcs, coatings of high-temperature resistant supports for automatic welding, and high-frequency induction furnaces.
Hexagonal boron nitride is also widely used in modifying polymers such as cosmetics, coatings, plastics, resins, and rubber to improve their thermal conductivity, insulation, and other properties.
In summary, the hexagonal boron nitride market provides significant opportunities in the application of coatings and release agents and the aerospace industry. The demand for advanced materials and improved performance in various industries has driven market growth. North America is a leading region, with major participants actively participating in product development and market expansion activities. It is expected that the market will steadily grow during the forecast period.
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