Boron Nitride Market

Boron Nitride Market – Overview

The global boron nitride market is projected to expand at a favorable rate from 2021 to 2031 (forecast period). Increased demand for boron nitride from high-temperature paints and coatings and increased demand from the electrical and electronics sectors are expected to boost the global boron nitride market.

Moreover, the coatings & molds segment is likely to witness considerable growth in the global boron nitride market throughout the projection period. Such coatings are useful for establishing a protective barrier among incompatible materials with high thermal conductivity and low electrical conductivity, with the functioning of a paint. Moreover, increasing demand from the personal care sector as a result of skincare product requirements is expected to provide manufacturers with several opportunities in the near future.

Boron Nitride Market – Competitive Landscape

Key players operating in the global boron nitride market are Showa Denko K.K. (Japan), Saint-Gobain S.A. (France), 3M (U.S.), Kennametal Inc. (U.S.), Denka Company ltd. (Japan), HC Starck GmbH (Germany), Momentive Performance Materials Inc. (U.S.), ZYP Coatings, Inc. (U.S.), Mizushima Ferroalloy Co., Ltd. (Japan), and Henze Boron Nitride Products AG (Germany).

Market players have employed strategies such as new product development, agreements, expansions, partnerships, and collaborations to increase their market share and distribution network in the worldwide boron nitride market.

Moreover, companies are investing heavily in R&D to innovate new products that can open up new pathways of application. Saint-Gobain launched CarboTherm h-BN products to improve thermoplastic compositions' thermal conductivity and electrical insulation.

Boron Nitride Market – Trends and Opportunities

The global boron nitride market is projected to benefit from the increasing demand from the coatings & molds sector. The increasing demand is due to its great thermal stability, superior electrical insulation, and exceptional lubricating characteristics. This coating is useful for generating a 'protective barrier' among incompatible materials or as a high-performance lubricant. This coating is available in a thick liquid form that can be brushed or diluted with water to make it more suitable for dipping or spraying. The coating provides unrivaled performance as an anti-stick release agent and lubricant in a highly convenient shape by incorporating hexagonal boron nitrides' distinctive properties of high thermal conductivity, superior lubricating abilities, and low electrical conductivity with the capabilities of a paint.

Moreover, the rising demand for high thermal conductivity polymer materials and coatings for clearance control applications in the aerospace and defense industries is likely to generate considerable growth in the boron nitride market over the forecast period.

Furthermore, advances in nanotechnology are resulting in the development of novel boron nitride products such as boron nitride nanosheets, boron nitride nanomesh, and boron nitride nanotubes. These innovative products are expected to be used in high-tech end-use products. This is expected to drive the global boron nitride market in the coming years.

Boron Nitride Market – Regional Landscape

The boron nitride market in Asia Pacific is likely to experience considerable growth during the forecast period due to the existence of China and India, both of which have a significant consumption volume of boron nitride due to rising demand from numerous applications. China was among the largest users of personal care products in 2021, and it is expected to grow during the projection period. Moreover, China is currently the largest consumer of lubricants and greases. The enormous manufacturing operations in many areas and the rapid growth in the industrial and automotive sectors have propelled the country to rank among the world's leading lubricant consumers and manufacturers. Such factors are anticipated to propel the boron nitride market in Asia Pacific.

The North America boron nitride market is projected to expand during the forecast period. The United States is expected to witness significant growth in the boron nitride market in North America.