The hexagonal boron nitride market is extrapolated to gain considerable growth during the forecast period of 2021-2031. The growing use of hexagonal boron nitride in various applications across electronics, lubrication, cosmetics, coatings, mold release, thermal spray, composites, and others are anticipated to add substantial value to the growth of the hexagonal boron nitride market.
The properties of hexagonal boron nitride such as good thermal conductivity, chemical inertness, heightened electrical resistance, lubricity, and others bring extensive growth opportunities. Furthermore, the emergence of hexagonal boron nitride as a feasible alternative to graphite is ensuring profitable growth for the hexagonal boron nitride market.
Hexagonal boron nitride is a thermally stable engineering ceramic having a unique blend of optical properties that allow novel photonic functionalities. It is one of the commercial forms of boron nitride and is also known as white graphite. It is an eco-friendly compound with good lubrication. Shock resistance is one of the prominent advantages of hexagonal boron nitride that has a profound impact on the growth structure.
However, the price of hexagonal boron nitride is quite higher than its alternatives. In addition, a variety of types of hexagonal boron nitride are available at different price points. The quality of hexagonal boron nitride differs according to the prices, which hinders the growth of the global market. Nevertheless, the players are making efforts to manufacture superior quality hexagonal boron nitride at affordable price. These factors will help increase the growth rate of the hexagonal boron nitride market.
The report on the hexagonal boron nitride market by Transparency Market Research (TMR) has various points and factors that make the stakeholder aware of the existing competitive scenario. Furthermore, the report includes the demographic landscape, industrial insights, and the latest trends that prove to be of great help to the CXOs and stakeholders. The COVID-19 pandemic effect has also been included in the report.
The hexagonal boron nitride market is consolidated. A few key players account for a large growth share of the hexagonal boron nitride market. The players indulge in research and development activities for increasing their revenues. Furthermore, mergers and acquisitions also play a major role in boosting the growth prospects of the hexagonal boron nitride market. Small players and local manufacturers are generally acquired by the key players to reduce the competition among them. These activities also help in strengthening the influence of the players across the hexagonal boron nitride market, ultimately contributing to the growth trajectory.
Some well-entrenched players in the hexagonal boron nitride market are Henze Boron Nitride Products AG, American Elements, SHOWA DENKO K.K., HC Starck GmbH, Kennametal Inc., and Compagnie de Saint-Gobain SA.
The demand for personal care products has increased substantially over the years. The growing popularity of these products among a considerable chunk of the populace will invite extensive growth prospects. As hexagonal boron nitride is used in numerous personal care and cosmetics, the growth rate is estimated to increase.
Consumer electronics and appliances are making a mark across the global populace. The expanding demand for these appliances will have a positive impact on the growth trajectory of the hexagonal boron nitride market as they are used as a substrate for semiconductors and coolers.
The Asia Pacific region is anticipated to invite extensive growth opportunities for the hexagonal boron nitride market. Countries in the Asia Pacific such as India and China are industrial hubs and have large manufacturing units for production of electronics and automobiles. Thus, these factors will prove to be growth boosters for the hexagonal boron nitride market in Asia Pacific.
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