The market for cubic boron nitrates is expected to grow at a CAGR of 7.7% from 2023 to 2033, reaching a valuation of US$ 2 billion. The market is currently valued at US$ 950 million in 2023. (2023–2033). CBNs, or cubic boron nitrates, are frequently used as abrasives. Cubic boron nitrates are the second-hardest substance after diamonds and have excellent thermal, hardness, and chemical stability characteristics. The most notable quality of CBN is its mechanical strength. They are frequently utilised in cutting tool tool bits. They also have applications in mechanical and electronic fields.
During the forecast period, a rise in the demand for cutting operations is anticipated to fuel the global cubic boron nitrates market. A solid bonding structure can be found in cubic boron nitrates. They have temperature and pressure, which are both frequently used in cutting processes. During the forecast period, it is predicted that these advantages will fuel market expansion.
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Key Takeaways from Market Study
- The global cubic boron nitrates market is valued at US$ 950 million in 2023.
- Worldwide demand for cubic boron nitrates is likely to expand at a CAGR of 7.7% from 2023 to 2033.
- The global market is expected to reach US$ 2 billion by 2033.
- Asia Pacific captured 38% of the worldwide cubic boron nitrates market share in 2022.
- The inserts segment is projected to develop at a CAGR of 6.2% during the study period.
Competitive Landscape
Key players in the cubic boron nitrates market continue pursuing marketing methods such as investments, collaborations, technological innovations, R&D activities, and acquisitions to expand and maintain their overseas footprint.
- In December 2021, AIXTRON designed, constructed, and put into operation a new, intricate graphene and cubic boron nitride reactor that can produce 200 mm epi-wafers. The ground-breaking CVD tool was created as a result of the GIMMIK study. The goal of the GIMMIK project is to assess how graphene layers are made in industrial settings, pinpoint any flaws, and suggest solutions for eliminating error-causing factors. A material setup and the transfer of graphene features to electrical mechanisms are both tested. Novel approaches for the contact-free, large-area description of graphene will be developed concurrently.
- In September 2021, WIKUS-Sägenfabrik added CUBOGRIT® band saw blades with cubic boron nitride coating to its line of products. (CBN). Users will be able to affordably saw 3D hard alloys and toughened ferrous materials up to 70 HRC thanks to CUBOGRIT®’s CBN-coated band saw blade technology. The most important trade show for metalworking in the world, EMO Hanover, saw the debut of WIKUS’ newest band saw blades.
- In August 2021, Cornell scientists developed a tiny magnetic field sensor that can function over a wider temperature range than earlier sensors. The sensor detects minute changes in magnetic fields that would otherwise be lost in a larger magnetic setting. Scanning probes are a specialty of Nowack’s lab when it comes to monitoring magnetic imaging. One of their go-to probes is the superconducting quantum interference device (SQUID), which performs well at low temperatures and in weak magnetic fields.
Key Companies Profiled
- 3M Company
- Funik Ultrahard Material Co., Ltd
- Advanced Abrasives Corporation
- Reishauer AG
- Asahi Diamond Industrial Co., Ltd
- Saint-Gobain Surface Conditioning
- Baltic Abrasive Technologies
- Element Six (UK) Ltd
- Showa Denko K.K
- ILJIN Diamond Co., Ltd
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NanoDiamond Products DAC
