The global hexagonal boron nitride powder market is anticipated to reach a valuation of USD 253.5 Million in 2024, driven by increasing growth of hospitality industry. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.9% between 2024 and 2034, and reaching a total valuation of approximately USD 495.0 Million by 2034.
The semiconductor industry relies on materials with high thermal conductivity and electrical insulation properties for the efficient operation of electronic devices. The hexagonal boron nitride powder is used in semiconductor packaging, thermal interface materials, and high power electronic applications, thus benefiting from the growth of the semiconductor industry driven by trends such as artificial intelligence, 5G technology, and Internet of Things devices.
Beyond traditional applications in electronics, aerospace, and automotive industries, the powder is increasingly being explored for emerging applications such as energy storage, photonics, optoelectronics, and biotechnology. The nascent markets present opportunities for the powder manufacturers to diversify their product portfolios and capture new revenue streams by addressing evolving technological and market trends.
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Compliance with regulatory standards and quality requirements is essential for the commercialization and adoption of the powder based products in regulated industries such as aerospace, automotive, and healthcare. Companies investing in research, development, and quality assurance capabilities to ensure compliance with 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 US$ 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.
“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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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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