Boron Carbide Market - Forecast(2023 - 2028)

Report Code: CMR 84693 Report Format: PDF + Excel

Overview

Boron Carbide Market is forecast to reach $143.2 million by 2025, after growing at a CAGR of 3.6% during 2020-2025. Increasing consumer demand in abrasives for slurry pumping nozzles, water jet cutting, grit blasting, and polishing & lapping applications are key factors driving the growth of the global boron carbide market. Another factor that supports the growth of the boron carbide market in the coming years is growing annual defense spending by various countries to acquire high-tech anti-ballistic weapons that can withstand the impact of bullets (bulletproof vests), shrapnel, and missiles. The widespread use of high-precision cutting tools and the resulting rise in super abrasive demand would promote the use of cubic boron nitride as a substitute for industrial diamonds.The report covers Boron Carbide Market size by type and Applications, Boron Carbide Market share by top 5 companies and also the market share by start-ups during the forecast period.

Report Coverage

The report: “Boron Carbide Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Boron Carbide Market.


Key Takeaways

·         Many companies are currently focusing on R&D and developing products for specific applications in order to gain an advantage over competitors

·         Increasing demand for boron carbide nanoparticles in hard metal industry equipment and increasing demand for more active composite materials for defense applications are one of the key factors driving the global boron carbide market.

·         It is also anticipated that the industry will benefit from increased use of boron carbide in a variety of biomedical devices and brain cancer treatment. This trend is expected to have huge positive impacts over the forecast period on the overall market growth.

Product Type - Segment Analysis

The powder segment is expected to hold the largest share of the market due to increased applications in various end-user industries. The powder products are commonly used in the sintering, gridding of hard metals and polishing industries, while the paste type is used for lapping and gridding in the automotive industry.

Grade - Segment Analysis

The nuclear grade segment holds the largest share in the market for boron carbide in 2019 and is expected to show significant growth in the future due to the high demand for enhanced energy sources and the need for clean energy sources.

Application Type - Segment Analysis

Boron carbide is mainly used as an abrasive in a variety of applications across both industrial and commercial sectors. The material has wide applications in the manufacturing sector due to properties such as high shock resistance, high abrasion resistance, excellent hardness, low thermal conductivity, and high wear and tear resistance. It is also used as neutron absorbent and as an antioxidant in the refractory industry in nuclear reactors.

Geography - Segment Analysis

North America's segment holds up to 27 percent of the largest share of the boron carbide market in 2019, due to factors such as the steady expansion of the nuclear power sector, high investment in industrial research and development activities, a strong technological base, and easy availability of innovative products.

It is also anticipated that the Asia Pacific market will experience a healthy CAGR over the forecast period due to the region's booming metal manufacturing sector. The burgeoning metal manufacturing industry in China and Japan's steadily expanding nuclear power industry are expected to help the regional market remain in a variety of forms a key consumer of boron carbide.

Drivers – Boron Carbide Market

·         Increasing Defense Expenditure and Rise in Production of Armours

The demand for boron carbide in the defense sector is significantly increasing due to its application in the production of body and vehicle armour. Countries such as India, China, the US, and others have significantly increased their defense budgets over the past several years and there has also been significant growth in armor procurement. This is noted to spur growth in the consumption of boron carbide.

 

Challenges – Boron Carbide Market

·         Complexities in the Manufacturing Process Lead to High Manufacturing Cost

Manufacturing of boron carbide involves a process that requires a temperature of over 2000 Celsius. Moreover, since boron carbide is initially produced in ingots, it is again a complex process leading to an increase in its price. Boron carbide is reported to be nearly ten times more expensive than its alternatives, resulting in end users preferring the cheap options available on the market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Boron Carbide Market. In 2019, the market of Boron Carbide has been consolidated by the top five players accounting for xx% of the share. Major players in the Boron Carbide Market are 3M Company, Saint-Gobain S.A., Washington Mills, H.C. Starck GmbH., Dynamic-Ceramic Limited, Kyocera Corporation, UK Abrasives Inc., Bhukhanvala Industries, Shanghai Vital Industry Co. Ltd., and Dalian Jinma Boron Technology Group Co. Ltd., among others.

1. Boron Carbide Market - Overview
        1.1 Definitions and Scope
2. Boron Carbide Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Boron Carbide Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Boron Carbide Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Boron Carbide Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Boron Carbide Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Boron Carbide Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Boron Carbide Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Powder
        8.2 Grains
        8.3 Paste
9. Boron Carbide Market - By Grade (Market Size -$Million / $Billion)
        9.1 Abrasive Grade
        9.2 Nuclear Grade
10. Boron Carbide - By Application Type (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
            10.3.1 Abrasives
            10.3.2 Nozzles
            10.3.3 Armour/Nuclear
11. Boron Carbide- By Geography (Market Size -$Million / $Billion)
        11.1 Boron Carbide Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Boron Carbide- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Boron Carbide- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Boron Carbide - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Boron Carbide - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Boron Carbide Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Boron Carbide Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Boron Carbide Market - Key Company List by Country Premium
15. Boron Carbide Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 ABSCO Limited
15.3 Advanced Abrasives Corporation
15.4 American Elements
15.5 Bhukhanvala Industries Pvt. Ltd.
15.6 China Mudanjiang Chenxi Boron Carbide Co.,Ltd
15.7 Dalian Jinma Boron Technology Group Co. ,Ltd (Dalian Jinma Group)
15.8 Dalian Zhengxing Abrasive Co., Ltd.
15.9 Dunhua Zhengxing Abrasive Co., Ltd.
15.10 Dynamic-Ceramic Limited (CoorsTek)
15.11 Feldco International
15.12 Electro Abrasives LLC
15.13 H.C. Starck GmbH
15.14 Saint-Gobain S.A
15.15 Sigma-Aldrich Co. LLC. (Merck Group)
15.16 Songshan Specialty Materials Incorporated
15.17 UK Abrasives, Inc
15.18 Washington Mills North Grafton, Inc.
15.19 3M Company
15.20 Company 20
15.21 Company 21 & More
*Financials would be provided on a best efforts basis for private companies
16. Boron Carbide Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Boron Carbide Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends