Hexagonal Boron Nitride – Importance & Usage
Boron Nitride is an inseparable part of the industrial sector. It has the ability to remain unfazed by chemicals & heat. It is made up of nitrogen and boron. This compound is commonly referred to by its chemical formula which is BN. Lately, the demand for this compound has risen. This in turn has helped in the growth of Hexagonal Boron Nitride Market.
This element is available in four crystalline forms mainly. Cubic BN (c-BN), rhombohedral BN (w-BN), hexagonal BN (h-BN) & wurtzitic BN (w-BN) can be listed as the types of boron nitride. All of these forms are quite similar in symmetry to a regulated carbon lattice.
Out of these Hexagonal Boron Nitride is the most useful owing to its unique features. It is soft and stable & can be effectively utilized as a lubricant. It can also act as a preservative and hence is used in the production of cosmetic products. Commonly, boron nitride and its counterparts are employed to make equipment that can withstand high temperatures. In the coming years, experts suggest that this compound will also form an essential part of nanotechnology.
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Market Scenario:
The Global Hexagonal Boron Nitride Market is expected to grow at an impressive rate in the coming years. Experts believe that this market will develop at a steady rate of 5.6% CAGR. Back in 2016, this market generated the revenue of USD 619.055 thousand. During the forecast period of 2018-2022, this industry is estimated to earn above USD 915, 928.2 thousand.
One of the primary growth drivers for this industry is the rising demand 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 the above mentioned factor, there are also aspects that drive the growth of the market. They include upsurge in the need 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 an efficient lubricant. This market may however face one major restraint which is the expensiveness of Hexagonal Boron Nitride. Although, industry experts suggest that with time the market will overcome this small hurdle.
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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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