Boron Carbide Market: Increasing Demand For Powdered Boron Carbide In Abrasives For Lapping And Polishing Applications

Boron Carbide Market Overview

According to a recent survey conducted by ChemView Consulting, the Global Boron Carbide Market grew at a CAGR of 4.5% between 2017-2021 and is estimated to be US$ 174.6 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.1% and is expected to reach a valuation of US$ 287.1 Mn by 2032 end.

Throughout the projected period, the market is anticipated to grow in response to rising demand for organic boron carbide is expected to soar in the coming years. In recent years, numerous beneficial properties of this type of material have been discovered, such as hardness and excellent absorption of neutrons in cross-section. Increased construction of nuclear reactors for producing sustainable energy, especially in emerging economies is set to propel market growth.

ChemView Consulting has analyzed that Boron carbide is one of the solid ceramic materials, and it is third in rank after diamond and boron nitride in the lineup of hardest materials. B4C or boron carbide can be produced by performing an oxidation-reduction method using B2O3 with C. Boron carbide is represented by a unique combination of features, which makes it suitable for various engineering end uses.

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Major determinant driving global boron carbide market growth includes increasing demand for powdered boron carbide in abrasives for lapping and polishing applications. Additionally, due to its extreme hardness B4C finds use in nozzles for water jet cutting, slurry pumping, and grit blasting, which is further anticipated to drive the growth of the boron carbide market.

Segments Covered in Report

Grade :

  • Abrasive
  • Nuclear

Product Type :

  • Powder
  • Grain
  • Paste

Application :

  • Abrasive
  • Nozzles
  • Armor
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways from the Boron Carbide Market

  • Based on the Application, In 2021, the Armor application market will rule. The segment is likely to dominate the global boron carbide market. Its demand from the defense sector has been on the rise due to its application in the production of body and vehicle armor as well as electric insulator materials due to its hardness and resistance to deformation.
  • Based on the Grade, The abrasive and abrasive material segment led the global boron carbide market in 2021. The abrasive and abrasive material segment is anticipated to remain a key revenue contributor to the boron carbide market over the assessment period. Boron carbide coating is extensively used in lapping and polishing applications as an abrasive backed by its high hardness.
  • Based on Region, North America is the largest market for boron carbide, accounting for up to 29.0 % of the global market in 2021. This is because the nuclear power sector has been expanding rapidly, and high investment in industrial research and development activities and a strong technological base are among the reasons for this growth..

Competition Summary

Key companies covered in the market study are are 3M Company, ABSCO Limited, Feldco International, H.C. Starck GmbH, Saint-Gobain S.A, Dalian Zhengxing Abrasive Co., Ltd., Dunhua Zhengxing Abrasive Co., Ltd., Dynamic-Ceramic Limited (CoorsTek), Sigma-Aldrich Co. LLC. (Merck Group), Songshan Specialty Materials Incorporated, UK Abrasives, Inc., Washington Mills North Grafton, Inc, American Elements, Advanced Abrasives Corporation, Bhukhanvala Industries Pvt. Ltd., China Mudanjiang Chenxi Boron Carbide Co., Ltd., Dalian Jinma Boron Technology Group Co., Ltd (Dalian Jinma Group), Electro Abrasives LLC.

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Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.

About ChemView Consulting

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