Hexagonal boron nitride is a form of boron nitride, composed of boron and nitrogen by reaction of boron trioxide with ammonia or urea in presence of nitrogen.
Rising demand for hexagonal boron nitride in various applications such as coating and mold release, electrical insulation, etc. is a major factor driving growth of the global hexagonal boron nitride market. A major factor hampering growth of the global market is high price of hexagonal boron nitride.
The global hexagonal boron nitride market is segmented on the basis of application and region. On the basis of application, the global market is segmented into coatings & mold release, electrical insulation, lubrication-industrial, composites, personal care, paints, lubricants-food, thermal spray, and others. The other segment includes dental cements, pencil leads and synthesizing of cubic boron nitride. The coatings & mold release segment is expected to register major share in terms of revenue in the global market over the forecast period.
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On the basis of region, the global hexagonal boron nitride market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market accounts for highest share in terms of revenue and is expected to dominate the global market over the next 10 years, owing to presence of key players and increasing demand for hexagonal boron nitride from coating and electrical insulation industry in countries in the region. The market in North America is expected to witness significant growth in terms of revenue in the global market during the forecast period.
Key players operating in the global market include Momentive Performance Materials Inc., Saint-Gobain, 3M Company, Denka Company Limited, Kennametal, SHOWA DENKO K.K., Henze Boron Nitride Products AG, ZYP Coatings, Inc., H.C. Stark GmbH, and Mizushima Ferroalloy Co., Ltd.