The global cubic boron nitride films market is expected to grow at a significant rate over the forecast period on account of increasing demand as an abrasive in several applications. Its usefulness as an abrasive is attributed to its insolubility in various alloys such as iron and nickel at high temperatures. C-NB(cubic boron nitride) is produced from hexagonal boron nitride treated at high temperature and pressure. Potential c-BN films properties such as high thermal conductivity, low thermal expansion, and high electrical resistance are also anticipated to have a positive impact on global product demand. C-BN (cubic boron nitride) is increasingly being preferred over diamonds owing to properties such as superior thermal, hardness, and chemical stability. C-BN films potential to substitute diamonds is projected to be a key factor driving cubic boron nitride films market growth over the forecast horizon. Increasing c-BN films utility as an abrasive in machining is expected to complement the global market. Advantageous characteristics such as easy binding with metals as a result of interlayer nitrides or metal borides formation are also anticipated to augment overall market demand. Growing c-BN films demand in X-ray membranes for reducing absorption as a result of robust chemical and mechanical properties is anticipated to complement c-BN films market growth. Moreover, its growing utility in tool bits of cutting tools is further predicted to drive c-BN films market growth in the upcoming years.
On the basis of end-use industries, c-BN films can be broadly segmented into automotive, heavy industry, chemical, and aerospace. Increasing c-BN films utility in the automotive sector on account of excellent thermal and chemical stability is expected to drive c-BN film market. The aerospace industry is expected to grow at a rapid rate owing to c-BN films high hardness property, which is relatively higher than graphite. Increasing c-BN films utility in the chemical industry to etch boron nitride on account of solubility in alkaline nitrates and molten salts such as LiOH, KOH, and NaOH among others is projected to have a notable impact on its global demand. New manufacturing processes development in various other end-use industries such as metal, commercial products, and glass is expected to further augment c-BN films market over the forecast period. Commercial c-BN films products such as Borazon and Cubonite or Elbor are renowned across the global market. Major c-BN films applications include hard discs coatings, razor blades, and water resistant pipes. However, limited raw material availability coupled with a time-consuming complex production process can be a factor restraining c-BN market growth over the forecast period.
North America is expected to dominate the regional market over the forecast period with majority c-BN films demand driven by the U.S. Growing automotive and construction industries in the region is a key factor driving North America cubic boron nitride films market. Asia Pacific c-BN films market is anticipated to witness substantial growth on account of increasing demand in razor blades and water-resistant pipes, particularly in Japan and China. Moreover, diamond-like properties associated with c-BN films along with low-cost production in emerging economies such as India and China are further expected to drive Asia Pacific c-BN films market over the forecast period. Europe c-BN films market is also growing at a rapid rate as a result of increasing R&D to develop new applications. Global c-BN films market is moderately fragmented with major players striving for leadership positions through efficient strategies such as distribution agreements, R&D, and integration through effective supply chain management. Key players operating in c-BN films market includes Saint Gobain Advanced Ceramics Corp., ESK Ceramics GmbH & Co., Electro Abrasive Corporation, Mudanjiang Jingangzuan Boron Carbide Co. Ltd., Shin-Etsu Chemicals Co., Showa Denko KK and Ceradyne Inc.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.