The latest market report published by Credence Research, Inc. “Global Hexagonal Boron Nitride Market: Growth, Future Prospects, and Competitive Analysis, 2023 – 2030”. The Global Hexagonal Boron Nitride Market generated revenue of around USD 0.742 billion in 2022 and is anticipated to grow a CAGR of over 4.7% during the forecast period from 2023 to 2030 to reach around USD 1.02 billion in 2030.
The hexagonal boron nitride market is expected to have a steady expansion. The global supply of hexagonal boron nitride held steady in 2022 despite the prior year’s rising trend. Throughout the forecast period, the beauty and personal care industry will continue to be a significant end-user of hexagonal boron nitride. Due to its adaptive qualities, the material is used for several additional industrial processes, including producing electrical goods and metal processing.
The global Hexagonal Boron Nitride market is bifurcated into Product Type, Application, End-User, and Geography. Based on type, the market is categorized into Tubes, Rods, Powder, Gaskets, Plates and Sheets, and Others. On the basis of application, the global market is segmented into Coatings/Mold Release/Spray, Electrical Insulation, Composites, Industrial Lubricants, Thermal Spray, Personal Care, and Others. On the basis of end-user, the global market is segmented into Aerospace, Automotive, Semiconductors and Electronics, and Others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2022, The HBN industry’s greatest market is in the Asia Pacific continent. With a market share of over 38%, the Asia Pacific market is the key regional market. It is predicted to expand at a maximum CAGR of 6.99% throughout the projected year. China dominates the APAC hexagonal boron nitride market, which controls the area. India is expected to develop quickly throughout the forecast period. The area is well-known for being a hub for electronics and automobile manufacturing. Also, the growth of the area and other socioeconomic factors have increased the purchasing power of local customers, leading to a rise in the demand for consumer electronics. Skin-lightening products and their alternatives are among the most popular skincare products, and the personal care and cosmetics sector is expanding quickly.
Some of the significant players analyzed in this report include Saint-Gobain S.A., 3M Company, H.C Starck GmbH, Denka Company Limited, ZYP Coatings Inc., Kennametal Inc., Momentive Performance Materials Inc., Showa Denko K.K., Mizushima Ferroalloy Co. Ltd., and Henze BNP AG. With such a comprehensive overview of these leading brands’ operations and market strategies available at your fingertips, you can make informed investment decisions with confidence knowing you have all relevant information at hand.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global Hexagonal Boron Nitride market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global Hexagonal Boron Nitride market segmentation based on type, application, and end-user.
- Major countries in each region with their import/export statistics
- The global Hexagonal Boron Nitride market report also includes analysing of the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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