LONDON–(BUSINESS WIRE)–#GlobalHexagonalBoronNitrideMarket–The global hexagonal boron nitride market size is expected to grow by USD 237.86 million during 2020-2024, progressing at a CAGR of almost 6% during the forecast period.
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The demand from the electronics and metallurgy sector is one of the major factors propelling market growth. However, factors such as the high cost of hexagonal boron nitride will hamper the market growth.
Hexagonal boron nitride powder offers superior dielectric strength and thermal conductivity when it is used as fillers in polymers that are used in electronics applications. The intrinsic properties of boron nitride, including high oxidation resistance, chemical inertness, corrosion resistance, and high-temperature resistance, will increase the use of boron nitride in metal processing applications.
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Global Hexagonal Boron Nitride Market: End-user Landscape
Hexagonal boron nitride is mainly used in thermal coating and lubricants in the automotive industry. The increasing demand for automobiles in developing countries in APAC and changing customer preference toward advanced automobiles in both developing and developing countries will drive the market growth in the segment during the forecast period. Therefore, the hexagonal boron nitride market share growth by the automotive segment will be significant during the forecast period.
Global Hexagonal Boron Nitride Market: Geographic Landscape
APAC was the largest hexagonal boron nitride market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the increase in the consumption of hexagonal boron nitride in growing end-user segments such as coatings, lubricants, mold release agents, and electrical insulation will significantly drive hexagonal boron nitride market growth in this region over the forecast period. 38% of the market�s growth will originate from APAC during the forecast period. China, South Korea (Republic of Korea), and India are the key markets for hexagonal boron nitride in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Hexagonal Boron Nitride Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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