Hexagonal Boron Nitride Market - By Grade, By Application, By End Use Industry and Forecast, 2025 - 2034

Hexagonal Boron Nitride Market Size

The global hexagonal boron nitride market was valued at USD 954.1 million in 2024 and is estimated to grow at a CAGR of over 5.5% from 2025 to 2034.
 

The global hexagonal boron nitride (hBN) market is witnessing steady growth, fueled by its diverse applications across industries like electronics, cosmetics, coatings, and metallurgy. Recent trends spotlight its role in high-performance lubricants, advanced thermal management systems, and electrical insulation, thanks to its unique attributes: high thermal conductivity, electrical insulation, and remarkable chemical stability.
 

A key trend is the incorporation of hBN in thermal management solutions for electronics. With devices shrinking and gaining power, efficient heat dissipation becomes paramount, positioning hBN as a prime candidate due to its thermal conductivity. The surge in nanotechnology has also heightened the demand for hBN nanomaterials in coatings, ceramics, and composites. Moreover, hBN is increasingly favored in personal care products, serving as a safe, non-toxic substitute for talc in items like foundation powders and skincare.
 

Hexagonal Boron Nitride Market Trends

In the past decade, the hBN market has transitioned from specialized industrial uses to a broader presence in high-tech and consumer sectors. A heightened emphasis on sustainability has spurred research into hBN's potential roles in renewable energy, notably in solid-state batteries and hydrogen storage. Additionally, breakthroughs in synthesis methods, including chemical vapor deposition (CVD) and scalable powder production, have enhanced hBN's availability and affordability, paving the way for its expanded adoption.
 

According to the U.S. Geological Survey, the global production of boron minerals, which include boron nitride, reached approximately 4 million metric tons in 2023. The U.S. Department of Energy has identified boron nitride as a critical material for advanced energy applications, highlighting its importance in thermal management and electrical insulation. Furthermore, the European Union's Horizon 2020 program has funded several projects focusing on the development of hBN-based materials, underscoring its strategic significance in various high-tech industries.
 

Hexagonal Boron Nitride Market Analysis

As electronic devices continue to shrink in size and boost performance, the need for effective thermal management solutions has surged. Hexagonal boron nitride, celebrated for its superior thermal conductivity and electrical insulation properties, is witnessing a growing adoption in thermal interface materials (TIMs) and substrates for cutting-edge electronic components.
 

Premium grade segment was valued at USD 517.3 million in 2024, and it is anticipated to expand to 6% of CAGR during 2025-2034. Industries such as electronics, aerospace, and semiconductors are increasingly demanding premium-grade hBN, known for its high purity and performance. This grade boasts exceptional thermal conductivity, electrical insulation, and chemical inertness, making it perfect for cutting-edge applications, including thermal interface materials and substrates for high-frequency devices. The burgeoning markets for 5G infrastructure and electric vehicles (EVs) have propelled the demand for premium grade hBN. Furthermore, its application in aerospace, particularly for thermal shielding and lightweight composite materials, is gaining momentum, bolstered by manufacturing process advancements that guarantee consistent quality.
 

The hexagonal boron nitride market from thermal management segment was valued at USD 319 million in 2024 and gained 6.2% CAGR from 2025 to 2034. Due to its unmatched thermal conductivity, hBN has emerged as a pivotal material in thermal management systems, particularly within the electronics and automotive sectors. Its usage is on the rise in thermal interface materials, catering to microprocessors, power modules, and LED lighting. With the trend of devices shrinking in size yet gaining power, hBN's capability in effective heat dissipation is proving to be increasingly vital. Furthermore, hBN's integration into EV batteries and charging systems is expanding, fueled by the imperative to boost safety and efficiency.
 

The electronics & semiconductor segment was valued at USD 433.3 million in 2024 and gained an 6.1% CAGR from 2025 to 2034. The electronics and semiconductor industry stands as the predominant consumer of hBN, primarily due to its essential functions in thermal management and electrical insulation. As 5G networks, IoT devices, and electric vehicles (EVs) expand, the demand for hBN in substrates, thermal interface materials (TIMs), and dielectric layers is on the rise. Furthermore, the growing trend of utilizing hBN nanosheets in advanced semiconductor applications underscores its significance in the realm of nanotechnology.
 

U.S. hexagonal boron nitride market was valued at USD 307 million in 2024 and expected to grow at a 6.4% CAGR till 2034. The U.S. dominates the global hBN market, fueled by its strong electronics, aerospace, and automotive sectors. The nation's commitment to technological innovation has heightened the demand for hBN in areas like thermal management systems and electrical insulation for semiconductors. As the electric vehicle (EV) market rapidly expands, hBN's role in battery systems and lightweight composites has surged. Additionally, investments by the U.S. Department of Defense in advanced materials for aerospace and defense—such as thermal shields and high-temperature-resistant coatings—further propel this growth.
 

Hexagonal Boron Nitride Market Share

Innovation, strategic partnerships, and advanced manufacturing processes drive the competitive landscape of the hBN market. Leading companies are not only producing high purity hBN materials but are also broadening their application portfolios to tap into emerging industries.
 

Key players such as 3M, Saint-Gobain, and Momentive Technologies lead the market, bolstered by their established presence and significant R&D investments. Their emphasis lies in upholding product quality and crafting new hBN grades tailored for specific applications. Meanwhile, companies like American Elements and Precision Ceramics stand out by providing customizable solutions for niche markets. Grolltex is making strides with its innovations in hBN films for electronics. On the other hand, smaller entities like Henze Boron Nitride Products and Panadyne carve their niche through specialized products and adaptable customer support.
 

Hexagonal Boron Nitride Market Companies

Major players operating in the hexagonal boron nitride industry are:

• 3M
• American Elements
• Denka Company
• Grolltex
• Henze Boron Nitride Products
• Momentive Technologies
• Panadyne 
• Precision Ceramics
• Resonac Holdings Corporation
• Saint-Gobain 
   

Hexagonal Boron Nitride Industry News

• In September 2023, 3M reaffirmed its leadership in the HBN market by launching new boron nitride cooling fillers. These fillers boost thermal conductivity in electronic and automotive applications. Offered in various forms, including platelets, flakes, and agglomerates, enhance heat management while minimally impacting other properties. This development underscores 3M's strategy of embedding high-performance materials into the surging demand for thermal management solutions.
   
• In October 2023, Momentive Technologies, a frontrunner in advanced materials, broadened its range of high-performance boron nitride solutions, catering primarily to the aerospace and defense sectors. The company underscored its commitment to addressing the rising demand for materials essential for thermal management, electrical insulation, and lubrication under extreme conditions. With its persistent innovations in HBN technology, Momentive solidifies its stature as a key contender in these high demand sectors??.
   

This hexagonal boron nitride market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) & volume (Tons) from 2021 to 2034, for the following segments:

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Market, By Grade

• Premium grade
• Standard grade
• Custom grade

Market, By Application

• Thermal management
• Electrical insulation
• Lubrication
• Coatings
• Personal care products
• Composites
• Others

Market, By End Use Industry

• Electronics & semiconductor
• Aerospace & defense
• Automotive
• Healthcare
• Personal care & cosmetics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa