The global hexagonal-boron nitride (h-BN) powder market is estimated to reach USD 821.0 Million by 2021, at a CAGR of 5.1% from 2016 to 2021. H-BN powder has high thermal stability and excellent electrical insulation properties, and H-BN powder products offer high performance and durability. These factors drive the market for the h-BN powder globally.
Companies are carrying out intense research & development activities to innovate and develop new products which can open new avenues of applications. Saint-Gobain has introduced its CarboTherm h-BN products to enhance thermal conductivity and provide electrical insulation to thermoplastic compounds. The performance chemicals division of EMD chemicals has announced the launch of RonaFlair Boroneige, the functional filler line, specifically used for applications in the cosmetics industry.
Growth in the coatings & mold release and electrical insulation applications has increased the demand for h-BN powder. The Asia-Pacific region accounts for the largest share of the global h-BN powder market and is also the fastest-growing market. China is expected to account for the largest share in the Asia-Pacific region till 2021 with India registering the fastest growth rate for the forecast period. Japan has prominent h-BN powder companies such as Denka Company ltd., Showa Denko K.K., and Mizushima Ferroalloy Co. Ltd. The U.S. is the largest market for the h-BN powder in North America.
The price of h-BN powder is high as compared to the available alternative substitutes. This is a major restraint in the global h-BN powder market. However, the h-BN powder is preferred over the others due to its superior performance at high temperatures.