At 4.1% CAGR, Global Boron Carbide Market Size to Hit USD 260 Million by 2028 - Comprehensive Report by Facts & Factors

Facts & Factors
Facts & Factors

According to Facts and Factors, the Global Boron Carbide Market size worth at around USD 215.1 million in 2021 and is estimated to reach USD 260 million by 2028, at a CAGR of approximately 4.1% between 2022 and 2028. The key players are covered in the report are 3M Company, ABSCO Limited, American Elements, Advanced Abrasives Corporation, Bhukhanvala Industries Pvt. Ltd., China Mudanjiang Chenxi Boron Carbide Co., Ltd., UK Abrasives, Inc., DunhuaZhengxing Abrasive Co., Ltd., Dynamic-Ceramic Limited (CoorsTek), Feldco International, Electro Abrasives LLC., and others.

DUBLIN, Ireland, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Boron Carbide Market Size, Share, Growth Analysis Report By Application (Abrasive, Nozzles, Armor), By Grade (Abrasive, Nuclear), By Type (Powder, Grain, Paste), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.

The report analyses the Boron Carbide market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Boron Carbide market.

Boron Carbide Market Overview:

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 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. 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. Boron carbide, owing to its properties like high melting point and thermal stability, is used majorly in refractory applications, and it is also a determinant driving market across the globe.

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  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.

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  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022

  • Includes Tables and figures have been updated

  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter's 5 Forces Analysis

  • Facts and Factors research methodology

Key Insights from Primary Research

  • As per the analysis, the Boron Carbide market is likely to grow above a CAGR of around 4.1% over the forecast period (2022-2028).

  • The Boron Carbide market size was worth around US$ 215.1 Million in 2021 and is estimated to hit approximately US$ 260 Million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

  • Based on type segmentation, powder segment was predicted to show maximum market share in the year 2021

  • Based on application segmentation, armor segment was the leading revenue-generating segment in 2021.

  • On the basis of region, Asia Pacific was the leading revenue generator in 2021..

Competitive Players

The report contains qualitative and quantitative research on the global Boron Carbide Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Some of the main players in the global Boron Carbide market include:

  • 3M Company

  • ABSCO Limited

  • American Elements

  • Advanced Abrasives Corporation

  • Bhukhanvala Industries Pvt. Ltd.

  • China Mudanjiang Chenxi Boron Carbide Co. Ltd.

  • UK Abrasives Inc.

  • DunhuaZhengxing Abrasive Co. Ltd.

  • Dynamic-Ceramic Limited (CoorsTek)

  • Feldco International

  • Electro Abrasives LLC

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Market Growth Drivers

  • Increasing demand from nuclear energy industry to drive market growth

The cutting tools industry is likely to grow substantially owing to the increasing demand from the industrial market in the coming years and the rising usage of cutting tools in activities related to manufacturing. The development in the industrial sector is likely to drive the cutting tools industry. The need for cutting tools is expected to rise with the increasing demand from the metal market. The prime factor responsible for driving the market growth is the rising demand for these tools in the construction, aerospace & defense, and automotive industries.

As one of the hardest known materials, boron carbide is likely to be produced by a range of manufacturers refining their processes in order to achieve high boron concentration and purity. Sales are likely to grow in the upcoming years by increasing demand for abrasives for lapping & polishing, water jet cutting, grit blasting, and slurry pumping nozzles.

However, there are some obstacles being witnessed in the industry, such as interference in the supply chain, logistical issues, government obligations & regulations, border problems, export restrictions that have a direct impact on commodity supply and prices, and others.

Boron Carbide Market: Segmentation Analysis

The global boron carbide market is segmented based on type, application, grade, and region.

Based on type, the global market segments are powder, grain, and paste. The powder segment is likely to hold a significant market share, owing to the rising use of boron carbide in wear-resistant and blasting nozzles production. Furthermore, owing to its large neutron-absorbing characteristic, boron carbide is used in both powdered and solid forms as shield & control rods in nuclear reactors. This factor is likely to augment the growth of the boron carbide market in the nuclear segment. Additionally, boron carbide also has high hardness owing to which it is an extensively used material in making sandblasting nozzle systems.

Based on application, the global market segments are abrasive, nozzles, and armor. Abrasive held a significant share of revenue, owing to the rising abrasive-grade boron powder usage in ultrasonic drilling of semi-precious stones, glass, and ceramics plate production. It provides sharp angles at all corners, which offers contour fidelity, with higher dimensional stability. The growth of abrasive grade is also supported by rising use in lapping, polishing, and grinding applications combined with huge demand from the defense, which will drive further the share of the boron carbide market.

Browse the full “Boron Carbide Market Size, Share, Growth Analysis Report By Application (Abrasive, Nozzles, Armor), By Grade (Abrasive, Nuclear), By Type (Powder, Grain, Paste), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/boron-carbide-market

Regional Analysis:

Asia Pacific is likely to dominate the global boron carbide market globally during the coming years. The robust demand can be attributed to the rising end-use sectors, such as increasing defense spending; nuclear power plants; and grading applications. Nuclear segment is one of the verticals contributing considerably to the regional growth.

Producers of boron carbide are implementing an inclusive variety of advanced technologies in boron carbide production to optimize the boron content and purity, driving the market in the coming years.

Recent Industry Developments:

  • In July 2021, SINTX Technologies, Inc. entered into an asset purchase agreement with B4C, LLC to acquire the technical processes and equipment needed to manufacture ballistic armor plates.

Report Scope:

Report Attribute

Details

Market Size in 2021

USD 215.1 Million

Projected Market Size in 2028

USD 260 Million

CAGR Growth Rate

4.1% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

3M Company, ABSCO Limited, American Elements, Advanced Abrasives Corporation, Bhukhanvala Industries Pvt. Ltd., China Mudanjiang Chenxi Boron Carbide Co. Ltd., UK Abrasives Inc., DunhuaZhengxing Abrasive Co. Ltd., Dynamic-Ceramic Limited (CoorsTek), Feldco International, Electro Abrasives LLC, and Others

Key Segment

By Application, Grade, Type, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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The global Boron Carbide market is segmented as follows:

By Application

  • Abrasive

  • Nozzles

  • Armor

By Grade

  • Abrasive

  • Nuclear

By Type

  • Powder

  • Grain

  • Paste

By Region

  • North America

  • Europe

  • Asia Pacific

  • The Middle East & Africa

  • Latin America

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