The global hexagonal boron nitride powder market is set to reach a valuation of USD 253.5 million by 2024, driven by significant growth in the hospitality industry. With a projected compound annual growth rate (CAGR) of 6.9% from 2024 to 2034, the market is expected to nearly double, reaching approximately USD 495.0 million by 2034. This growth is fueled by emerging trends and new opportunities in various sectors.
In the semiconductor industry, hexagonal boron nitride powder is indispensable due to its high thermal conductivity and electrical insulation properties. It is extensively used in semiconductor packaging, thermal interface materials, and high-power electronic applications. The market for this powder is further bolstered by advancements in technologies such as artificial intelligence, 5G, and Internet of Things (IoT) devices.
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Beyond its traditional applications in electronics, aerospace, and automotive sectors, hexagonal boron nitride powder is gaining traction in emerging fields like energy storage, photonics, optoelectronics, and biotechnology. These burgeoning markets offer powder manufacturers opportunities to expand their product portfolios and leverage evolving technological and market dynamics.
Compliance with regulatory standards and quality requirements is crucial for the commercialization and adoption of hexagonal boron nitride powder in regulated industries such as aerospace, automotive, and healthcare. Companies that invest in research, development, and quality assurance capabilities to meet industry-specific regulations and standards are well-positioned to capitalize on market opportunities and build long-term customer trust and loyalty.
Key Takeaways from the Market Study
- Global hexagonal boron nitride powder market was valued at USD 6 Million in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 8.5%.
- The market in Japan is expected to expand at a CAGR of 8.1% through 2034.
- By type, the tubes segment to account for CAGR of 6.7% through 2034.
- The market in Korea is expected to expand at a CAGR of 8.0% through 2034.
- In terms of application, the coatings/mold release/spray segment to account for a CAGR of 6.5% through 2034.
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“The medical and healthcare sector represents a growing market for the hexagonal boron nitride powder based products and technologies, with the aging population and rising healthcare expenditures globally,” – remarks an FMI analyst.
Competitive Landscape
Prominent players in the hexagonal boron nitride powder market are 3M Company, Denka Co., Ltd., H.C. Starck GmbH, Henze Boron Nitride Products AG, Kennametal Inc., Mizushima Ferroalloy Co., Ltd., Momentive Performance Materials, Inc., Saint-Gobain, Showa Denko K.K., and ZYP Coatings, Inc., among others.
Company Portfolio
- C. Starck GmbH is a leading global supplier of high performance materials and components. The company offers hexagonal boron nitride powder, which is characterized by its exceptional thermal conductivity, lubricity, and chemical inertness.
- Kennametal Inc. is a global leader in metalworking solutions and industrial materials. The company offers hexagonal boron nitride powder as part of its portfolio of cutting tool materials and coatings.
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Future Market Insights offers an unbiased analysis of the global hexagonal boron nitride powder market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the hexagonal boron nitride powder market, the market is segmented on the basis of type (tubes, rods, powder, gaskets, plates and sheets, others), application (coatings/mold release/spray, electrical insulation, composites, industrial lubricants, thermal spray, personal care, others), classification (premium grade, standard grade, custom grade),and end user (aerospace, automotive, semiconductors and electronics, others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
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