A high-yield production of high-quality boron-nitride nanotubes (BNNTs) was reported recently in several publications. A boron-rich material is evaporated by a laser or plasma in a nitrogen-rich atmosphere to supply precursor gaseous species for nucleation and growth of BNNTs. Either hydrogen was added or pressure was increased in the system to achieve high yield and high purity of the synthesized nanotubes. According to the widely-accepted "root grow" mechanism, upon the gas cooling, boron droplets form first, then they adsorb nitrogen from surrounding gas species, and BNNTs grow on their surfaces. However, what are these precursor species that provide nitrogen for the growth is still an open question. To answer this question, we performed thermodynamic calculations of B-N mixture composition considering broad set of gas species. In enhancement of previous studies, the condensation of boron is now taken into account and is shown to have drastic effect on the gas chemical composition. B 2 N molecules were identified to be a major source of nitrogen for growth of BNNTs. Presence of B 2 N molecules in a B-N gas mixture was verified by our spectroscopic measurements during a laser ablation of boron-rich targets in nitrogen. It was shown that the increase of pressure has a quantitative effect on the mixture composition yielding increase of the precursor density. The hydrogen addition might open an additional channel of nitrogen supply to support growth of BNNTs. Nitrogen atoms react with abundant H 2 molecules to form NH 2 and then NH 3 precursor species, instead of just recombining back to inert N 2 molecules, as in the no-hydrogen case. In addition, thermodynamics was applied in conjunction with agglomeration theory to predict the size of boron droplets upon growth of BNNTs. Analytical relations for identification of crucial species densities were derived.