Hexagonal boron nitride is also known as white graphene is gaining flame owing to its diverse assets and applications in a variety of ends-user industries such as cosmetic, coating and mold release and among others. As hexagonal boron nitride possess same properties as graphite, it is used as a substitute for graphite in dry lubricants and coating & mold release segments.
According to Zion Market Research, global hexagonal boron nitride was valued at over USD 602.4 million in 2015, is expected to reach above USD 818.9 million in 2021 and is anticipated to grow at a CAGR of slightly above 5.3% between 2016 and 2021. Hexagonal boron nitride lubricants encompass numerous aids as compared to the conventional lubricants such as can work in oxidizing temperatures. Therefore, hexagonal boron nitride lubricants are even used in automotive, paint and coating industry. Hexagonal boron nitride acts as excellent abrasives weigh against to diamonds which can provide a wide scope for bolstering the growth of hexagonal boron nitride market in the forecast period. However, the high cost of hexagonal boron nitride limits the growth of the market. Nevertheless, incredible usage of hexagonal boron nitride in the cosmetic industry is expected to foster the demand for hexagonal boron nitride in the market in coming years. Moreover, emerging an assortment of trends for hexagonal boron nitride is likely to urge the growth of hexagonal boron nitride market in the upcoming years.
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The hexagonal boron nitride market can be segmented on basis of grades such as premium grade, standard grade, and custom grade. Premium grade emerged as the most attractive segment and is anticipated to hold largest slice of pie owing to its intense purity and applications in coming years. Based on applications the market is further segmented as coating & mold release, cosmetic among others. Coating & mold release corned the hexagonal boron nitride market with the noteworthy share in 2015. Cosmetic is expected to be the persuasive segment in the forecast period due to high use of hexagonal boron nitride as slip modifier in a wide range of skin care products.
Asia Pacific governed the hexagonal boron nitride market in 2015 and is anticipated to maintain its pace in forecast period. The presence of eminent players such as Denka Company ltd., Showa Denko K.K., and Mizushima Ferroalloy Co. Ltd in this region is expected to assist the hexagonal boron nitride market in the coming years. Europe is the second largest market for hexagonal boron nitride owing to extreme usage of hexagonal boron nitride in the cosmetic industry. North America is predicted to exhibit lucrative growth in hexagonal boron nitride market in the coming years.
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Some of the global major players in the hexagonal boron nitride are Saint-Gobain, Momentive Performance Materials, 3M Company, H.C. Starck, UK Abrasives, Denka, Henze, Showa Denko Group, Shin-Etsu Chemical and Eno High-Tech Material among others. Saint-Gobain, 3M Company, Denka are most prominent players in the market.