Boron Carbide Market
Boron Carbide Market Size, Share & Trends Analysis Report by Grade (Abrasive Grade and Nuclear Grade), by Type (Powder, Grains and Paste), and by Application (Armors & Ballistic Protection, Industrial Abrasives, Nuclear and Others), Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Boron carbide market is anticipated to grow at a CAGR of 4.8% during the forecast period (2023-2030). This steady growth is owing to the factors such as technological development in the manufacturing industries, increasing number of nuclear reactors built across the globe, and growing aerospace and defense sector in developing nations. According to the World Nuclear Association 2022 edition, the IEA's 'Stated Policies Scenario' sees installed nuclear capacity growth of over 43% from 2020 to 2050 (reaching about 590 GWe). The scenario envisages a total generating capacity of 19,792 GWe by 2050, with the increase concentrated heavily in Asia, and in particular India and China.
Segmental Outlook
The global boron carbide market is segmented by the grade, application, and type. Based on the grade, the market is sub-segmented into abrasive grade and nuclear grade. Based on the type, the market is sub-segmented into powder, grains, and paste. Further, based on application, the market is sub-segmented into armors and ballistic protection, industrial abrasives, nuclear and others. Among the grade, the abrasive grade sub-segment is anticipated to hold a considerable share of the market owing to increasing usage of abrasive-grade boron powders in ultrasonic drilling of glass and semi-precious stones. An abrasive boron carbide produces sharp angles at all corners, has superior dimensional stability, and has contour fidelity. The increasing use of abrasive grade in grinding, lapping, and polishing applications, together with increased demand from the defense sector, will raise the boron carbide market share even more.
The Nuclear Sub-Segment is Anticipated to Hold a Considerable Share of the Global Boron carbide Market
Among the application, the nuclear sub-segment is expected to hold a considerable share of the global boron carbide market. Nuclear technology uses the energy released by splitting the atoms of certain elements. Boron carbide is essential to atomic reactors owing to its unique properties. Currently nuclear power plants are operational in 32 countries globally. In fact, through regional transmission grids, many more countries depend in part on nuclear-generated power, Italy, and Denmark, get almost 10% of their electricity from imported nuclear power. Boron carbide serve as shielding material, control rods, and neutron sensors makes it highly sought-after in this sector. For instance, the UAE 5.6 GW commercial nuclear power facility in Barakah uses boron carbide to shield the reactor core. It is also used to perform several non-core and in-core tasks. According to the World Nuclear Association, 48 new nuclear reactors are going to be built between 2020 to 2026. Nuclear energy provides about 10% of the world's electricity from about 440 power reactors. Nuclear is the world's second largest source of low-carbon power (26.0% of the total in 2020).
Global Nuclear Power Status, 2023
Source- World Nuclear Association
Regional Outlook
The global boron carbide market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to provide several growth opportunities to the market players across the globe, owing to the rising security concerns and the need for advanced protective solutions in the region are projected to push the defense industry toward boron carbide-based materials. The chemical compound enhances the safety and effectiveness of military personnel & equipment. The product's lightweight design reduces soldiers' weight while offering greater defense against ballistic attacks.
Global Boron carbide Market Growth, by Region 2023-2030
The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Boron carbide Market
Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. The increasing product demand can be attributed to the rapid industrialization and growing end-use industries, such as nuclear power plants, increasing defense spending, and grading application in countries such as China and India. The nuclear power industry is one of the verticals considerably contributing to the regional growth. For instance, in October 2019, Chinese Machinery Engineering Corporation started the construction of a new boron carbide plant in Turkey. The plant will produce around 1,000-1,500 tons of boron carbide annually, worth some $25 to $30 million. Turkey is home to 73.0% of the world’s boron reserves, and is now planning to refine and process this natural resource to develop boron carbide with a view to strengthen its defense industry. China currently leads the global production of boron carbide, with Germany, India, Japan, the US, Ukraine, and South Korea also on the list. With this new facility, Turkey will also join this list.
Market Players Outlook
The major companies serving the global boron carbide market include The Daavlin Co., Aeroflow, Inc., Philips Lighting Holding B.V., Signify Holding, Atom Medical Corporation, Herbert Waldmann GmbH & Co. KG, Hill-Rom Holdings, Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In April 2023, Nanovia, launched boron carbide enriched filament called Flex B4C. It can be utilized for neuron shielding in the nuclear energy industry. Identical in principle to Nanovia's PLA XRS, which uses barium sulfate to filter X-rays. The company has been employing B4C on the Cr range ceramic filament that is specified for sintering.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global boron carbide market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. 3M
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Henan E-Grind Abrasives Co., Ltd.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Feldco International
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Boron Carbide Market by Grade
4.1.1. Abrasive Grade
4.1.2. Nuclear Grade
4.2. Global Boron Carbide Market by Type
4.2.1. Powder
4.2.2. Grains
4.2.3. Paste
4.3. Global Boron Carbide Market by Application
4.3.1. Armors & Ballistic Protection
4.3.1.1. Body Armors
4.3.1.2. Vehicle Armors
4.3.2. Abrasives
4.3.2.1. Grinding and Polishing
4.3.2.2. Cutting Tool
4.3.3. Nuclear
4.3.4. Other (Shields & Panels, Refractory Materials)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Absco Limited
6.2. Advanced Abrasives Corp.
6.3. Bhukhanvala Industries Pvt. Ltd.
6.4. CoorsTek Inc.
6.5. Dalian Zhengxing Abrasive Co.
6.6. Feldco International
6.7. Höganäs AB
6.8. Mudanjiang Jingangzuan Boron Carbide Co., Ltd.
6.9. Precision Ceramics USA
6.10. Saint-Gobain S.A.
6.11. Schunk Ingenieurkeramik GmbH
6.12. TRBOR
6.13. U.S. Electrofused Minerals, Inc.
6.14. UK Abrasives, Inc.
6.15. Ultrananotech Private Ltd.
6.16. Universal Hard Metal Co.
6.17. Washington Mills Electro Minerals Ltd.
1. GLOBAL BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY GRADE, 2022-2030 ($ MILLION)
2. GLOBAL ABRASIVE GRADE BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL NUCLEAR GRADE BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
5. GLOBAL BORON CARBIDE AS POWDER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL BORON CARBIDE AS GRAINS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL BORON CARBIDE AS PASTE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
9. GLOBAL BORON CARBIDE FOR ARMORS & BALLISTIC PROTECTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL BORON CARBIDE FOR BODY ARMORS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL BORON CARBIDE FOR VEHICLE ARMORS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL BORON CARBIDE FOR INDUSTRIAL ABRASIVES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL BORON CARBIDE FOR GRINDING AND POLISHING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL BORON CARBIDE FOR CUTTING TOOL MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL BORON CARBIDE FOR NUCLEAR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. GLOBAL BORON CARBIDE FOR OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
17. GLOBAL BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
18. NORTH AMERICAN BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. NORTH AMERICAN BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY GRADE, 2022-2030 ($ MILLION)
20. NORTH AMERICAN BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
21. NORTH AMERICAN BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY APPLICATION INDUSTRY, 2022-2030 ($ MILLION)
22. EUROPEAN BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
23. EUROPEAN BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY GRADE, 2022-2030 ($ MILLION)
24. EUROPEAN BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
25. EUROPEAN BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
26. ASIA-PACIFIC BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
27. ASIA-PACIFIC BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY GRADE, 2022-2030 ($ MILLION)
28. ASIA-PACIFIC BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
29. ASIA-PACIFIC BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
30. REST OF THE WORLD BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY GRADE, 2022-2030 ($ MILLION)
31. REST OF THE WORLD BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD BORON CARBIDE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
1. GLOBAL BORON CARBIDE MARKET SHARE BY GRADE, 2022 VS 2030 (%)
2. GLOBAL ABRASIVE GRADE BORON CARBIDE MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL NUCLEAR GRADE BORON CARBIDE MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL BORON CARBIDE MARKET SHARE BY TYPE, 2022 VS 2030 (%)
5. GLOBAL BORON CARBIDE AS POWDER MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL BORON CARBIDE AS GRAINS MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL BORON CARBIDE AS PASTE MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL BORON CARBIDE MARKET SHARE BY APPLICATION, 2022 VS 2030 (%)
9. GLOBAL BORON CARBIDE FOR ARMORS & BALLISTIC PROTECTION MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL BORON CARBIDE FOR BODY ARMORS MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL BORON CARBIDE FOR VEHICLE ARMORS MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL BORON CARBIDE FOR INDUSTRIAL ABRASIVES MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL BORON CARBIDE FOR GRINDING AND POLISHING MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL BORON CARBIDE FOR CUTTING TOOL MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL BORON CARBIDE FOR NUCLEAR MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. GLOBAL BORON CARBIDE FOR OTHER APPLICATIONS MARKET SHARE BY REGION, 2022 VS 2030 (%)
17. GLOBAL BORON CARBIDE MARKET SHARE BY REGION, 2022 VS 2030 (%)
18. US BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
19. CANADA BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
20. UK BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
21. FRANCE BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
22. GERMANY BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
23. ITALY BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
24. SPAIN BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
25. REST OF EUROPE BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
26. INDIA BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
27. CHINA BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
28. JAPAN BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
29. SOUTH KOREA BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
30. REST OF ASIA-PACIFIC BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
31. REST OF THE WORLD BORON CARBIDE MARKET SIZE, 2022-2030 ($ MILLION)
