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Boron Carbide Market Size

  • Report ID: GMI2632
  • Published Date: May 2021
  • Report Format: PDF
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Boron Carbide Market Size

The global boron carbide market size was valued at USD 347.21 million in 2020 and is estimated to exhibit a CAGR of 4.9% from 2021 to 2027. Increasing construction of nuclear reactors for sustainable energy in emerging countries to drive the product demand during the forecast timeframe.

 

Boron carbide is one of the hardest materials known. It is third in ranking after cubic boron nitride and diamond. The powder form of boron carbide is majorly produced by the reaction of boron oxide with carbon reaction inside an electric arc furnace, by gas-phase reactions, or by carbothermal reduction. Some of the exclusive features of boron carbide are high absorption of neutrons in cross-section, chemical inertness, and high hardness.

 

Boron Carbide Market
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Several manufacturers are optimizing the production process of boron carbide to obtain high purity & boron content. For instance, 3M has developed boron carbide containing the exact ratio of 4:3 boron-to-carbon owing to which it is suitable for non-oxidic ceramics, wire sawing of oxidic and, and specifically for sapphire cutting.

 

Boron Carbide Market Report Attributes
Report Attribute Details
Base Year:2020
Boron Carbide Market Size in 2020:347.21 Million (USD)
Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:4.9%
2027 Value Projection:480.03 Million (USD)
Historical Data for:2017 to 2020
No. of Pages:220
Tables, Charts & Figures:245
Segments covered:Grade, Type , Application and Region
Growth Drivers:
  • Increasing nuclear projects in emerging nations
  • Rising boron carbide paste demand for mechanical engineering application
  • Growing defense spending across the globe
Pitfalls & Challenges:
  • Higher production cost as compared to alternate materials
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Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Boron carbide industry size was valued at around USD 347.21 million in 2020 and is expected to register a CAGR of over 4.9% through 2027.

The market for abrasive grade boron carbide could surpass USD 250 million in annual value by 2027 led by increased application in ultrasonic drilling and ceramics plate production.

Nuclear applications hold around 15% revenue share of boron carbide industry and will grow with increasing number of new nuclear power projects in emerging countries.

The demand for boron carbide in defense applications could increase at a 5% CAGR up to due to applications in production of vehicle armor systems and protective body jackets.

Asia Pacific holds around 50% share of boron carbide market in terms of volume and will grow owing to expansion of nuclear power projects and increasing defense spending.

Boron Carbide Market Scope

  • Boron Carbide Market Size
  • Boron Carbide Market Analysis
  • Boron Carbide Market Share

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    • Base Year: 2020
    • Companies covered: 12
    • Tables & Figures: 245
    • Countries covered: 19
    • Pages: 220
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