Hexagonal Boron Nitride – Brief Insights
Boron Nitride has over the years gained a lot of recognition. It has become an integral part of a number of industries. One of its most special features is that it does not get affected by chemicals or high temperatures. Its main constituents are nitrogen and boron. BN is the name by which this compound is known in chemical terms. In recent times, industries are experiencing an augmented necessity for this compound. Resultantly, the Global Hexagonal Boron Nitride Market is gaining traction.
Boron Nitride is available in four separate crystalline forms. They are Hexagonal BN (h – BN), Cubic BN (c-BN), wurzitic BN (w – BN) and rhombohedral BN (w-BN) Each of these forms serve a purpose each and they all happen to be pretty much identical symmetrically to a regulated carbon lattice.
Amongst the four kinds available, Hexagonal Boron Nitride has proven to be the most proficient one. And the credit for it goes to its malleability. It is comparatively softer and can be applied as a lubricant. Apart from that, this compound also has the capability to be used as a lubricant as it has the ability to bear heat. It is also applied in the formation skin care and beauty products as a preservative. Research suggests that few years down the line, this compound will also be a part of nanotechnology.
Market Synopsis
Owing to the current technical advancements in the industrial sector the worldwide hexagonal boron nitride market is anticipated to tread forward at an impressive pace in the coming years. Experts suggest that this market will develop at a steady rate of 5.8% CAGR. In 2016, this market generated the revenue of USD 619.053 thousand. During the forecast period of 2018-2022, this industry is estimated to earn above USD 915, 926.2 thousand.
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One of the chief growth drivers for this industry is the upsurge in the need for Hexagonal Boron Nitride in the skincare business. Its application in the making of beauty products such as blushers, foundation & other make-up tools is growing.
Apart from afore mentioned factors, there are also several other aspects that contribute to the growth of the market. They include higher demand for Hexagonal Boron Nitride for the production of temperature resistant paints and thermal coatings. Furthermore, the versatility of this compound also enables it to be used as a lubricant. This market may however face one major restraint which is the high cost of Hexagonal Boron Nitride. Although, industry specialists believe that with time the market will cope with this small issue.
Market Segmentation
This market is separated into four distinct parts that include, adhesive categories, applications, end users & geographies.
On account of adhesive types the market is divided into crucibles, tubes, plates, sheets, rods & gaskets.
The application segment comprises of coatings, electrical insulation, mold release, industrial lubricants, thermal spray, composites & cosmetics.
On the Basis of End Users, the industry is divided into metallurgy, automotive, aerospace, personal care & electronics. Amongst these the automotive portion holds the biggest market share. This is because of the quality of lubrication of hexagonal boron nitride. Such lubricants mixed with engine oils, clutches & chain management systems in cars.
Regionally the worldwide Hexagonal Boron Nitride Market is spread across, North America, Europe, Asia Pacific and Rest of the World.
Innovations
Innovations are extremely important for the growth of this market. In the past decade this industry has witnessed many of them. One of the most noteworthy innovations is the introduction of boron nitride technology. This modern day technology can identify the presence of neurons. It can be highly useful in detecting hazardous nuclear weapons and materials.
Major Players & Growth Strategies
Some of the big names of this industry include, Showa Denko K.K., ZYP Coatings Inc, Mizushima Ferroalloy Co., Ltd & Saint Gobain. The major strategies employed by these brands are acquisitions and higher expenditure on R&D.
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