IndustryARC, in one of its latest reports, predicted that 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. 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. The Boron Nitride & Hot Pressed Shapes market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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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Segmental Analysis :
1. 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.
2. 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. 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.
3. 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.
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Market Drivers and Challenges:
1. 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. 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.
2. 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. 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.
3. Health risks associated with the use of boron nitride may cause an obstruction to the market growth.
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A. Hexagonal Boron Nitride Market
B. Hexagonal-Boron Nitride Powder (h-BN) Market
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