Hexagonal Boron Nitride Market Market Analysis

Application (Refractory Applications, Insulators, Microwaves, Furnace, Thermal Spray)

The insulators segment is expected to hold 40% share of the global hexagonal boron nitride market by 2037 because of increasing technological use in the insulators. In line with the U.S. Department of Energy, residential buildings contribute to about 20% of the country's total energy expenditure. This overwhelming statistic demonstrates the enormous possibilities for homeowners to make a substantial influence by utilizing energy-saving solutions in their homes. The demand for energy-efficient homes is rapidly increasing, pushing the development of new and innovative insulation technologies. The international market for insulation components is anticipated to touch USD 93.02 billion by 2023. This enormous growth is a testament to the increasing interest in energy-effective solutions as homeowners attempt to lower utility bills and develop more renewable living spaces.

End-User (Aerospace, Automotive, Semiconductors, Electronics)

The automotive segment in the hexagonal boron nitride market is projected to account for 42% of the revenue share by 2037 owing to the increasing use of hexagonal boron nitride and expansion of the automotive industry. Again dependent on mileage – that by 2030 this may even. A factor here is the rise in mileage because of empty journeys made by self-governing vehicles. PwC Autofacts thus predicts that individual mileage in Europe could increase by 23% by 2030 to 5.88 trillion kilometers. Predictions assume a rise of 24% in the US and 183% in China. High inflation rates and raw material price increases recorded throughout 2022 and 2023 have challenged the industry, impacting consumers’ purchasing power and manufacturers’ production costs and profits.

Our in-depth analysis of the global hexagonal boron nitride market includes the following segments: