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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 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 17, 2023 /EINPresswire.com/ -- 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.

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Key takeaways:

This IndustryARC report on the Boron Nitride & Hot Pressed Shapes market highlights the following areas -

1. 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.

2. 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.

3. 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.

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Segmental Analysis:

1. 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.

2. 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.

3. 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.

Competitive landscape:

The top 5 players in the Boron Nitride & Hot Pressed Shapes industry are:

1. 3M Technical Ceramics
2. Accuratus Corporation
3. American Elements
4. Aremco Products
5. Atlantic Equipment Engineers.

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Related Reports:

A. Hexagonal Boron Nitride Market
https://www.industryarc.com/Research/Hexagonal-Boron-Nitride-Market-Research-503312

B. Hexagonal-Boron Nitride Powder (h-BN) Market
https://www.industryarc.com/Report/16484/hexagonal-boron-nitride-powder-h-bn-market.html

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