Boron Nitride & Hot Pressed Shapes Market - Forecast(2024 - 2030)
Boron Nitride & Hot Pressed Shapes Market Overview
The Boron Nitride & Hot Pressed Shapes Market
size is forecast to reach US$1.4 billion by 2027, after growing at a CAGR of 5.2%
during the forecast period 2022-2027. Boron Nitride
is an advanced synthetic ceramic material that is available in solid and powder
form. In its solid form, boron nitride is also called white graphite, owing to
its structural similarity to graphite.
Due to its excellent chemical and thermal stability, boron nitride oxide
ceramics are primarily used as components of high-temperature equipment. Its high
impermeability to liquid and gas makes them an ideal coating material for the
prevention of surface oxidation and corrosion of metals and other materials,
which include black phosphorus. They are used in a wide range of applications
which include coating and mold, electrical insulation, lubrication, semiconductor,
cosmetics, metals and alloys, and other applications. According to recent
insights from the Semiconductor Industry Association, China imported around
US$378 billion in semiconductors, accumulated 35% of the world’s electronic
devices, and was responsible for 30% to 70% of the global PC, TV, and mobile
phone exports in 2020. An increase in demand from the electronics & semiconductors
along with metallurgy industries acts as the major driver for the market. On
the other hand, health risks associated with the use of boron nitride may act
as a major constraint for the market.
COVID-19 Impact
There is no doubt that the COVID-19 lockdown
has significantly reduced production activities as a result of the country-wise
shutdown of production sites, shortage of labor, and the decline of supply and
demand chain all over the world, thus, affecting the market. Studies show that
the outbreak of COVID-19 sharply declined the production of raw materials in
2020 due to a lack of operations across multiple countries around the world.
However, a slow recovery in the electronic industry has been witnessed across
many countries around the world since 2021. An increase in work from home and
e-learning practices during COVID-19 has significantly led to high demand for
laptops, tablets, and smartphones which have resulted in the higher production
of these electronics. For instance, according to the Retailers Association of
India (RAI), consumer electronics net sales increased by 2% in September and 8%
in October 2020, in comparison to 2019, owing to the increase for electronic
devices for remote practices during COVID-19.
In this way, a steady increase in electronics
production activities is expected to increase the demand for hot-pressed boron
nitride since they are primarily used in electronic parts such as substrates,
coil forms, transistor circuits, and more, along with insulation of electric
wires, batteries and other electrical components in electronic gadgets. This
indicates a steady recovery of the market in the upcoming years.
Report Coverage
The “Boron Nitride & Hot Pressed Shapes Market Report– Forecast (2022-2027)”,
by IndustryARC covers an in-depth analysis of the following segments of the Boron Nitride & Hot Pressed Shapes Industry.
By Type: Hexagonal Boron Nitride (HBN), Rhomboidal
Boron Nitride (RBN), Cubic Boron Nitride (CBN), Wurtzite Boron Nitride (WBN).
By Form: Solid, Powder, Others.
By Material Grade: PCBN2000, PCBN3000, PCBN4000, PCBN5000,
Grade A, Grade AX05, Grade HP, Grade HPL, Grade M26/M, Grade ZSBN.
By Application: Coating and Mold, Electrical
Insulation, Lubrication, Automotive, Semiconductor, Composites, Cosmetics,
Metals and Alloys, Tubes and Sheaths, Others.
By End-Use
Industry: Paints & Coating, Electronics &
Semiconductor, Automotive, Metallurgy, Cosmetics & Personal Care, Aerospace,
Others.
By Geography: North America (USA, Canada, and
Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Russia,
Belgium, and the Rest of Europe), Asia-Pacific (China, Japan, India, South
Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and the Rest of
Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile and the Rest
of South America), the Rest of the World (the Middle East, and Africa).
Key Takeaways
- Hexagonal
Boron Nitride (HBN) held the largest share in the Boron Nitride & Hot Pressed
Shapes Market in 2021. Its wide range of characteristics, along with its
high thermal conductivity, and good thermal shock resistance made it stand out
in comparison to other types of boron nitride in the market.
- Coatings industry held the largest share in the Boron Nitride & Hot Pressed Shapes Market in 2021, owing to the increasing demand for boron nitride from the coating sectors across multiple regions. According to Japan Paint Manufacturers Association (JPMA), the total paints and coatings production in Japan reached up to 1,645,960 tons during the year 2019.
- Asia-Pacific
dominated the Boron Nitride & Hot Pressed Shapes Market in 2021, owing to the
increasing demand for boron nitride from the coating sectors of the region. For instance, in July 2019,
Asian Paints commenced the commercial production of coatings and intermediaries
in the Mysore plant in India. The coatings manufacturing plant in Mysore has a
total capacity of 211,888 tons per annum.
Figure: Asia-Pacific Boron Nitride & Hot Pressed Shapes Market Revenue, 2021-2027 (US$ Billion)
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Boron Nitride & Hot Pressed Shapes Market Segment Analysis – By Type
Hexagonal Boron Nitride (HBN) held the largest
share in the Boron Nitride & Hot Pressed Shapes Market in 2021 and is expected
to grow at a CAGR of 5.3% between 2022 and 2027, owing to its increasing demand
due to the characteristics and benefits it offers over other types of boron
nitride. Hexagonal Boron Nitride, also known as white graphite, has higher
thermal conductivity, better thermal shock resistance, and lower
thermal expansion in comparison to Rhomboidal Boron Nitride (RBN), and other
types of boron nitride. White graphite offers higher electrical resistance, ease of
machinability, and is non-toxic in nature as compared to other types of boron
nitride. Moreover, hexagonal boron nitride or white graphite is being used
increasingly, owing to its unique combination of properties such as low density,
high-temperature stability, chemical inertness, easy workability of hot-pressed
shapes, along with excellent electrical insulating and lubricating properties. Thus,
all of these properties of hexagonal boron nitride (white graphite) are driving
its demand over other types of boron nitride, which in turn, is expected to
boost the growth of the market during the forecast period.
Boron Nitride & Hot Pressed Shapes Market Segment Analysis – By End-Use Industry
The Coatings Industry held the largest share
in the Boron Nitride & Hot Pressed Shapes Market in 2021 and is expected to grow
at a CAGR of 5.5% between 2022 and 2027, owing to the increase in demand for
paints and coatings across the globe. For instance, according
to the British Coatings Federation (BCF), the first 5 months of 2021 achieved
significant sales results in both industrial and decorative coatings in the
United Kingdom, owing to strong consumer demand for DIY commodities such as
paints and coatings in the country. Furthermore, Nippon Paints Group made
medium to long-term investments in 2021 for upgrading and streamlining
industrial facilities in Japan from 2021 to 2023 to boost the production of
paints and coatings to secure its position in the market.
In this way, an
increase in demand and production of coatings is expected to increase the
demand for boron nitride as it is used in the production of coatings, owing to
its unique combination of properties such as low density, high-temperature
stability, chemical inertness, along with excellent electrical insulating and
lubricating properties. This is expected to accelerate the growth of the market
during the forecast period.
Boron Nitride & Hot Pressed Shapes Market Segment Analysis – By Geography
The Asia Pacific held the largest share in the
Boron Nitride & Hot Pressed Shapes Market in 2021 up to 30%. The consumption
of boron nitride is particularly high in this region due to its increasing
demand from the coating sector. For instance, according to Japan Paint
Manufacturers Association (JPMA), the total paints and coatings production in
Japan was reached up to 1487.7 million tons in 2020. Furthermore, in 2020, the
government of Vietnam announced its plan to develop the paint and coating
industry with a vision to 2030. The average growth rate in the production value
of the paint and coating industry is expected to reach up to 14% during the
period from 2021 to 2030.
The properties of boron nitride such as high-temperature stability, chemical inertness, along with excellent electrical insulating and lubricating properties make it ideal for use in the production of coatings. Hence, an increase in the production of coatings in the region is expected to increase the demand for boron nitride, leading to the growth of the market in the upcoming years.
Boron Nitride & Hot Pressed Shapes Market – Drivers
An increase in demand from the electronics & semiconductor industry is most likely to increase demand for the product
Hot pressed boron nitride is primarily used in
electronic parts such as substrates, coil forms, transistor circuits,
semiconductor chips, and more, along with insulation of electric wires,
batteries, and other electrical components in electronic gadgets. According to the Statistical Handbook of
Japan 2021, the production and shipments of electronic equipment reached up to US$
52.6 billion during the fourth quarter of 2020. According to the annual reports
published by Samsung during the fourth quarter of 2020, the semiconductors
division obtained a total revenue of US$ 15.1 billion. Furthermore, Lenovo
Group, a leading brand in consumer electronics and media, published the annual
report for the fiscal year that ended in March 2021, which stated that the
total revenue of the company reached up to US$ 60,742 million in the fiscal
year 2020/21, an increase of 20% in comparison to the fiscal year 2019/20. Furthermore,
recent insights from the Semiconductor Industry Association (SIA) state that
the U.S invested around US$ 142.2 billion on the computer, and US$ 53 billion
on consumer electronics such as cell phones, TV, and other similar
applications. It also states that China’s National IC Fund had invested US$ 39
billion until July 2021, among which 69.7% had been allotted for front-end
manufacturing with the aim of increasing China’s share of global semiconductor
production. In this way, an increase in electronics and semiconductor
production is expected to increase the demand for hot-pressed boron nitride,
thus, leading to the growth of the market in the upcoming years.
An increase in demand from the metallurgy industry is most likely to increase demand for the product
Hot pressed boron nitride is primarily used in
a wide range of metallurgy applications which include amorphous iron flow
notch, continuous casting steel separation ring, and continuous casting
aluminum release agent along with all types of capacitor film aluminum plating,
picture tube aluminum plating, and more. According to World Steel Organization,
the total crude steel production in North America reached up to 108.3 million
tons in 2021, an increase of 17.8% as compared to 2020. Likewise, crude steel
production in South America reached up to 42.1 million tons in 2021,
representing a growth of 20.7% in comparison to 2020. Furthermore, the total
steel production in Europe, the Middle East, and Africa reached up to 141.4
million tons, 37.4 million tons, and 14.7 million tons respectively in 2021. Furthermore, in
2020, the total production of manganese in Australia reached up to 3,180
thousand metric tons, an increase of 3.8% in comparison to 2019. Thus, such an
increase in the production of metals across the globe is expected to increase the
demand for hot-pressed boron nitride, owing to its wide range of metallurgy
applications as mentioned above. This is expected to drive the boron nitride
and hot-pressed shapes market in the upcoming years.
Boron Nitride & Hot Pressed Shapes Market – Challenges
Health risks associated with the use of boron nitride may cause an obstruction to the market growth
Prolonged exposure to boron nitride powder is
known to cause irritation to the eyes as well as the respiration system. In
case of skin contact, it may cause mild to severe skin irritation. In case of
inhalation of boron nitride powder or dust, irritation of the nose, throat, and
respiratory tract may occur. Ingestion of the boron nitride may cause nausea,
vomiting, diarrhea along with gastrointestinal infections. Furthermore, boron
nitride is reported to cause pneumoconiosis when inhaled in particulate form.
The maximum recommended concentration for boron nitride is 10 mg/m3. Thus, such
health risks associated with the use of boron nitride may confine the growth of
the market.
Boron Nitride & Hot Pressed Shapes Industry Outlook
Technology launches, acquisitions, and R&D
activities are key strategies adopted by players in the Boron Nitride & Hot
Pressed Shapes Market. Boron Nitride & Hot Pressed Shapes top 10 companies
are:
- 3M Technical Ceramics
- Accuratus Corporation
- American Elements
- Aremco Products
- Atlantic Equipment Engineers
- Bayville Chemical
- Bent Tree Industries
- Boron Compounds
- BORTEK
- Ceramic Substrates and Components Limited
Recent Developments
- In December 2021, Saint-Gobain Ceramic
launched its new line of boron nitride powders. Saint-Gobain Boron Nitride Powder
Solutions are available in various particle shapes and sizes enabling its
customers to maximize the benefits of boron nitride in a wide range of markets
and applications. Commonly referred to as white graphite, hexagonal boron
nitride powders offered by the company can add value to many different
industries.
Relevant Reports
Hexagonal
Boron Nitride Market – Forecast (2022 - 2027)
Report Code: CMR 86236
Hexagonal-Boron
Nitride Powder (h-BN) Market – Forecast (2022 - 2027)
Report Code: CMR 0677
Boron
Carbide Market – Forecast (2021 - 2026)
Report Code: CMR 84693
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LIST OF TABLES
1.Global Competitive Benchmarking Market 2023-2030 ($M)2.Global Competitive Benchmarking Market 2023-2030 (Volume/Units)
3.North America Competitive Benchmarking Market 2023-2030 ($M)
4.South America Competitive Benchmarking Market 2023-2030 ($M)
5.Europe Competitive Benchmarking Market 2023-2030 ($M)
6.APAC Competitive Benchmarking Market 2023-2030 ($M)
7.MENA Competitive Benchmarking Market 2023-2030 ($M)
LIST OF FIGURES
1.US Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)2.Canada Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
3.Mexico Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
4.Brazil Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
5.Argentina Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
6.Peru Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
7.Colombia Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
8.Chile Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
9.Rest of South America Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
10.UK Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
11.Germany Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
12.France Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
13.Italy Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
14.Spain Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
15.Rest of Europe Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
16.China Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
17.India Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
18.Japan Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
19.South Korea Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
20.South Africa Boron Nitride And Hot Pressed Shapes Market Revenue, 2023-2030 ($M)
21.North America Boron Nitride And Hot Pressed Shapes By Application
22.South America Boron Nitride And Hot Pressed Shapes By Application
23.Europe Boron Nitride And Hot Pressed Shapes By Application
24.APAC Boron Nitride And Hot Pressed Shapes By Application
25.MENA Boron Nitride And Hot Pressed Shapes By Application