Hexagonal boron nitride is a multifunctional platy powder: it delivers lubricity, press strength, lustre and thermal conductivity at the same time, which is hard to replicate with a single alternative.
The platelet structure gives a low friction coefficient, so it feels silky rather than greasy. The platelets interlock during pressing and provide compact strength. Its refractive index and platy habit produce a soft satin lustre rather than the sparkle of mica. Thermal conductivity adds a slight cooling sensation on skin and helps the bulk dissipate heat.
Typical levels: 3-8% in pressed and loose powders, 5-10% in lipstick, 2-5% in liquid foundation. Above about 10% the lustre becomes pronounced, so use it sparingly in matte formulas.