Nano Boron Carbide Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1825
Nano Boron Carbide Market size is mainly driven by increasing application outlook in metal, biological and chemical industry.
It is a fine black powder consists of boron carbide particles sizing approximately over 40 nm in diameter. Nano boron carbide is used in various industries attributing to its hardness, unique neutron interaction, high temperature resistant and self-lubrication characteristics. Nano boron carbide is manufactured in heat furnace at by using petroleum coke and boric acid as key raw materials. The process can convert only 15% charge into boron carbide.
Nano boron carbide has strong application in hard metal industry tools & machine components production owing to its attributes such as extreme hardness and chemical resistance. Global metal industry is expected to size over USD 2,500 billion during forecast timeframe with gains at over 5%. Its extensive used as abrasive in cutting tools and dies is likely to propel industry growth.
Nano boron carbide is used as a degrader in conventional brain cancer radiotherapy. It can curb protons energy released during process without scattering. Graphite being its substitute is not efficient in screening the energy. Global cancer therapy market may grow at over 20% reaching USD 55 billion by 2024 which might drive product demand owing to rising prevailing brain tumors incidences.
Nano boron carbide has major significance in nuclear application due to its high neutron absorption quality used in nuclear shielding It is used as an additive to concrete for constructing nuclear plants and as protective coating over nuclear shielding panels & reaction control rods. Global nuclear energy demand exceeded 2500 TW-h in 2016 and might grow at a rate of over 5% driving product demand during forecast period.
Increasing Nano boron carbide application scope in military owing to its growing use in ceramic body armor manufacturing. These armors are light in weight, withstand extreme temperature, wear, corrosion and possess special electrical properties. Growing political instability and increased defense spending will propel industry growth. It is also used in manufacturing heavy armored protection systems of aircraft, ships and vehicles.
According to analysis, recent innovation provides microparticulate carbide reinforced in carbon nanotubes which consists of carbon Nano lumps formed on the tube surface. This method enables carbide particles use as composite fillers in manufacturing high strength composite materials with improved load transfer characters.
Asia Pacific Nano boron carbide market size led by China, India and Japan. China being the largest exporter and producer, drives the regional product demand. It caters to ceramic, refractory and abrasive industry in Asia Pacific regions. Increased in boron carbide use as substitute to diamonds drives regional industry growth.
North America driven by Canada and the U.S. Nano boron carbide market size may grow significantly. Increased spending in defense for growing security concern and global terrorism along with revamped medical industry supported by cancer treatment technology innovations propel regional industry growth.
Europe Nano boron carbide market led by France, UK and Germany may witness strong gains. Supporting regulatory norms by EU Commission pertaining to boron carbide uses in defense along with technological advancements in nanotechnology may have positive influence on regional industry growth.
Nano boron carbide powder should be handled and stored with extreme care, when in contact with damp conditions it lowers dispersion performance making it inept to use. The product should be sealed in vacuum, stored in cool & dry room and should not be exposed to air which may increases its handling and storage cost thereby challenging industry profitability.
Global Nano boron carbide market is moderately fragmented. Some key players include Element Six, 3M Company, Saint-Gobain, Momentive, Starck, Dalian Zhengxing Abrasive Co., Beijing ZhengdaHuayi Boron Carbide Products Co., and hengzhou Zhendong Technology.
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