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.
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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.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Boron Carbide Market Report Segment
By Grade
- Abrasive Grade
- Nuclear Grade
By Type
- Powder
- Grains
- Paste
By Application
- Armors & Ballistic Protection
o Body Armors
o Vehicle Armors
- Industrial Abrasives
o Grinding and Polishing
o Cutting Tool
- Nuclear
- Others (Shields & Panels, Refractory Materials)
Global Boron Carbide Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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.
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