Boron Carbide Market was valued at USD 1.20 Billion in 2022 and is projected to reach USD 2.00 Billion by 2030, growing at a CAGR of 7.10% from 2024 to 2030.
The global boron carbide market size was valued at approximately USD 166.2 million in 2022 and is expected to witness significant growth in the coming years. The market is projected to grow at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2027. This growth can be attributed to the rising demand for boron carbide in various applications such as abrasive powders, nozzles, and armoring materials due to its exceptional hardness, lightweight, and thermal stability. The increasing use of boron carbide in the defense and aerospace sectors for manufacturing bulletproof vests, tank armor, and aircraft components is also driving market expansion. Additionally, the growing adoption of boron carbide in the nuclear industry for neutron absorption and radiation shielding is further enhancing market demand.
Opportunities for the boron carbide market are expanding, particularly in emerging markets in the Asia-Pacific region, due to increased infrastructure development and defense spending. The rising focus on advanced materials in manufacturing, coupled with technological advancements, is expected to create new avenues for growth in the market. Additionally, the growing demand for lightweight and durable materials in automotive and aerospace industries is expected to bolster the market. The expanding application of boron carbide in 3D printing and its use in cutting-edge technologies such as space exploration and medical implants offer promising growth prospects. These trends suggest that the boron carbide market will continue to evolve and expand over the forecast period.
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3M
ABSCO Limited
Advanced Abrasives Corporation
American Elements
Bhukhanvala Industries Pvt.
China Mudanjiang Chenxi Boron Carbide
Ltd
Dalian Jinma Boron Technology Group
Ltd (Dalian Jinma Group)
Dalian Zhengxing Abrasive
Dunhua Zhengxing Abrasive
Dynamic-Ceramic Limited (CoorsTek)
Feldco International
Electro Abrasives
H.C. Starck
Saint-Gobain S.A
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Boron Carbide Market
Abrasives
Nozzles
Armour/Nuclear
Other
Based on Types the Market is categorized into Below types that held the largest Boron Carbide market share In 2023.
Powder
Grains
Paste
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Boron Carbide Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Boron Carbide Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Boron Carbide Market, By Type
6. Global Boron Carbide Market, By Application
7. Global Boron Carbide Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Boron Carbide Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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