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Global Cubic Boron Nitrates Market – Industry Trends and Forecast to 2031

Chemical and Materials

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Global Cubic Boron Nitrates Market – Industry Trends and Forecast to 2031

  • Chemical and Materials
  • Upcoming Report
  • May 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Cubic Boron Nitrates Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 649.40 USD Million
Diagram Market Size (Forecast Year) USD 685.77 USD Million
Diagram CAGR %

Major Markets Players

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Global Cubic Boron Nitrates Market, By Type (CBN, Monocrystalline, and CBN Micro Mist), Product (Inserts, Wheels, Mesh, and Powder), Application (Raw Abrasives, Coatings, Cutting and Grinding, and Lapping and Polishing) - Industry Trends and Forecast to 2031.

Cubic Boron Nitrates Market

Cubic Boron Nitrates Market Analysis and Size

The essential factors contributing to the growth of the market in the forecast period of 2024 to 2031 include the increasing demand for high-performance materials in industries such as automotive, aerospace, and manufacturing. Technological advancements in ways of making things, especially in cutting stuff very precisely, make more people use CBN (Cubic Boron Nitride). Additionally, the growing emphasis on efficiency, quality, and productivity in machining operations fuels the demand for CBN due to its exceptional hardness, thermal conductivity, and chemical stability.

Data Bridge Market Research analyses that the global cubic boron nitrates market which was USD 649.40 million in 2023, is expected to reach USD 685.77 million by 2031, growing at a CAGR of 5.6% during the forecast period of 2024 to 2031. In 2024, the CBN micro mist segment will dominate the market due to its widespread application in precision machining operations, offering enhanced cutting performance, surface finish quality, and tool life in industries. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2015-2021)

Quantitative Units

Revenue in USD Million, Pricing in USD, Volume in Units

Segments Covered

Type (CBN, Monocrystalline, and CBN Micro Mist), Product (Inserts, Wheels, Mesh, and Powder), Application (Raw Abrasives, Coatings, Cutting and Grinding, and Lapping and Polishing)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa

Market Players Covered

3M (U.S.), Saint-Gobain (France), Sandvik AB (Sweden), Element Six (Ireland), SHOWA DENKO (Japan), Advanced Abrasives (U.S.), NanoDiamond Products (U.S.), and Baltic Abrasive Technologies (Latvia)

Market Opportunities

  • Advancements in Manufacturing Technologies
  • Continuous Innovations in Material Science

Market Definition

The cubic boron nitride (CBN) is a synthetic crystalline material formed by combining boron and nitrogen atoms in a cubic lattice structure. It is renowned for its exceptional hardness, second only to diamond, making it a valuable abrasive material. CBN is extensively used in grinding and cutting applications, particularly for hard and abrasive materials such as hardened steels, super alloys, and ceramics. It has high thermal conductivity and chemical stability which makes it suitable for demanding machining operations. These include precision grinding of automotive components, bearings, and cutting tools, where superior performance and durability are essential.

Cubic Boron Nitrates Market Dynamics

Drivers

  • Increasing Demand for High-Performance Materials

The increasing demand for high-performance materials in industries such as automotive, aerospace, and manufacturing is driving the growth of the global cubic boron nitrate market. People like to use CBN a lot for cutting and grinding because it's super hard, conducts heat well, and stays strong even in tough conditions.

  • Growing Demand from Emerging Economies

The expanding manufacturing sectors in emerging economies such as China, India, and Brazil present significant opportunities for the cubic boron nitrate market. Rapid industrialization, infrastructure development, and investments in automotive and aerospace industries in these regions are driving the demand for high-performance materials such as CBN for machining applications.

Opportunities

  • Advancements in Manufacturing Technologies

Technological advancements in manufacturing, particularly through computer-controlled machining and additive manufacturing, are driving the increased use of cubic boron nitride (CBN). These methods enable the creation of intricate and highly accurate components, where CBN's exceptional resistance to wear and ability to dissipate heat provide substantial benefits in terms of both efficiency and quality. By incorporating CBN into manufacturing processes, industries can achieve faster production rates and superior performance in producing complex parts with high precision.

CBN's toughness against wear and its ability to handle heat really well make it great for this. When we use CBN in making these parts, it helps us work faster and results and better, giving a higher quality. Thus,  advancements in manufacturing technologies is expected to create opportunities for market growth.

  • Continuous Innovations in Material Science

Ongoing research and development in material science and engineering are creating opportunities for the advancement of cubic boron nitrate-based materials. Innovations in CBN formulations, coatings, and composite materials are expanding the potential applications of CBN in new and niche markets, including electronics, medical devices, and renewable energy technologies.

These advancements allow for the customization of CBN properties to meet specific requirements in various industries. This leads to enhanced performance and functionality in diverse applications beyond traditional uses in machining and abrasion-resistant tools. Hence creating multiple opportunities in the market.

Restraint/Challenge

  • High Cost of Production

The production of cubic boron nitrate involves complex and energy-intensive manufacturing processes, resulting in relatively high production costs. The price of CBN can stop it from being used a lot, especially in industries or situations where cheaper options exist, thus restraining market growth.

  • Limited Availability of Raw Materials

Boron and nitrogen, the primary raw materials used in the production of cubic boron nitrate, have limited natural sources. Their extraction and purification processes can be costly and environmentally challenging. In addition, geopolitical factors and supply chain disruptions may impact the availability and pricing of these raw materials, posing constraints on the scalability and stability of CBN production.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the surgical microscopes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

  • In August 2021, researchers from Cornell, a private research university, used ultrathin graphene and cubic boron nitride to create a tiny magnetic field sensor that can function over a greater range of temperatures than previous sensors sensing tiny changes in magnetic fields that would otherwise be lost in a larger magnetic setting
  • In December 2020, AIXTRON, a European multinational technology company, developed, built, and installed a new, detailed industrial-grade graphene and cubic boron nitride reactor capable of producing 200 mm epi-wafers. The innovative CVD tool was developed as part of the GIMMIK research project

Cubic Boron Nitrates Market Scope   

The market is segmented on the basis of type, product, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • CBN
  • Monocrystalline
  • CBN Micro Mist

Product

  • Inserts
  • Wheels
  • Mesh
  • Powder

Application

  • Raw Abrasives
  • Coatings
  • Cutting and Grinding
  • Lapping and Polishing

Cubic Boron Nitrates Market Regional Analysis/Insights

The global cubic boron nitrates market is analyzed and market size insights and trends are provided by country, type, product, and application as referenced above.

The countries covered in the global cubic boron nitrates market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa.

Asia Pacific is dominating the market due to its burgeoning manufacturing sectors, particularly in the automotive and aerospace industries. Countries such as China, Japan, and South Korea drive demand for high-performance materials, fuelling the adoption of cubic boron nitrate in machining applications.

Asia Pacific region is estimated to be the fastest growing region in the market. This growth is driven by rapid industrialization, infrastructure development, and increasing investments in the automotive and aerospace sectors, particularly in countries like China and India, boosting demand for high-performance machining materials.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cubic Boron Nitrates Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:

  • 3M (U.S.)
  • Saint-Gobain (France)
  • Sandvik AB (Sweden)
  • Element Six (Ireland)
  • SHOWA DENKO (Japan)
  • Advanced Abrasives (U.S.)
  • NanoDiamond Products (U.S.)
  • Baltic Abrasive Technologies (Latvia)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Cubic Boron Nitrates Market size will be worth USD 685.77 million by 2031.
The Cubic Boron Nitrates Market growth rate will be 5.6% by 2031.
Increasing Demand for High-Performance Materials and Growing Demand from Emerging Economies are the growth drivers of the Cubic Boron Nitrates Market.
The type, product, and application are the factors on which the Cubic Boron Nitrates Market research is based.
The major companies in the Cubic Boron Nitrates Market are 3M (U.S.), Saint-Gobain (France), Sandvik AB (Sweden), Element Six (Ireland), SHOWA DENKO (Japan), Advanced Abrasives (U.S.), NanoDiamond Products (U.S.), and Baltic Abrasive Technologies (Latvia).
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