Global Boron Carbide Market Size To Worth $ 6.39 Billion By 2030 | CAGR 3.0 %Category: Advanced Materials
Global Boron Carbide Market worth $6.39 billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Boron Carbide Market Size to grow from USD 4.9 billion in 2021 to USD 6.39 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 3.0% during the forecast period.
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One of the key drivers of Boron Carbide market expansion is driven by an increase in the use of boron compounds in a variety of products, including glass and ceramics, detergents, alloys and metals, and agrochemicals, as well as by supportive government regulations that promote the use of semiconductor and glass fibre products that consume less energy.
Browse 49 market data Tables and 59 Figures spread through 279 Pages and in-depth TOC on "Global Boron Carbide Market Size, Share, and COVID-19 Impact Analysis By Product (Boron minerals and Boron chemicals), By Application (Glass and Ceramics, Alloys and Metals, Detergents and Bleaches, Agrochemical, Adhesives and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030." View a detailed Table of Content here– https://www.sphericalinsights.com/reports/boron-carbide-market
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The Boron minerals segment to account for the largest market size during the forecast period
Based on the Product, the global Boron Carbide Market is categorized into Boron minerals and Boron chemicals. The Boron minerals segment to account for the largest market size during the forecast period. The Boron minerals segment is anticipated to be the leading category during the anticipated years because Boron minerals are being used more frequently as it is being used more and more in the creation of heat-resistant glass as well as a variety of industrial, medicinal, and cosmetic uses. Due to their excellent characteristics, colemanite, tincal, and ulexite are of interest in various application fields. Individually, Colemanite and Ulexite were used as fillers to create epoxy composites.
The Glass and Ceramics segment to hold a higher CAGR during the forecast period.
Based on the Application, the Boron Carbide Market is categorized into Glass and Ceramics, Alloys and Metals, Detergents and Bleaches, Agrochemical, Adhesives and Others. The Glass and Ceramics segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Glass and Ceramics segment is anticipated to maintain its leading position while expanding at the fastest CAGR. The glass and ceramics industries are the main users of borax and boric acid. Glass fibres, boron-silicate glass that can withstand heat, industrial glass, and optical glass are all made with boric acid. Because of the close ties between the glass and ceramics industries and the building sector, both regions have experienced high profit in construction sector and the market has grown at a healthy rate, mostly as a result of the rising demand in Asia, which is followed by Central and South America, Africa, and the Middle East.
North America to hold a higher CAGR during the forecast period.
The Global Boron Carbide Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia-Pacific is estimated to account for the highest market share in 2022. The demand for Boron Carbide is being driven by the rising acceptance by the market. Asia is expected to have substantial growth in the building and construction sector, with countries like Japan, South Korea, Australia, China, and India leading the way. As per capita income and population increase, there will likely be a large demand for residential buildings and residences. High government investment on highways, roads, bridges, dams, and other public facilities is anticipated to promote regional boron minerals and chemicals market expansion. The demand for glass and ceramics goods is anticipated to increase due to the rapidly expanding population and rise in consumer disposable income, encouraging corporate growth. High government spending on the construction of roads, bridges, dams, and other public infrastructure might drive the market for regional goods. In addition, it is predicted that increasing domestic demand for agrochemicals would help to strengthen the local economy.
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Global Boron Carbide Market - Key Market Players
Major vendors in the Global Boron Carbide Market include Absco Limited, CoorsTek, Inc.,Electro Abrasives LLC, Feldco International, Höganäs AB, Kyocera Corporation, Mudanjiang Jingangzuan Boron Carbide Co., Ltd, Precision Ceramics Usa Inc, U.K. Abrasives, Inc., Washington Mills Electro Minerals Limited, Saint-Gobain S.A., H.C. Starck GmbH, Washington Mills, Kyocera Corporation, Dynamic-Ceramic Limited, and U.K. Abrasives Inc.
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Frequently Asked Questions (FAQ)
What is the market size of the Boron Carbide market?As per Spherical Insights, the size of the Boron Carbide market was valued at USD 4.9 billion in 2022 to USD 6.39 billion by 2030.
What is the market growth rate of the Boron Carbide market?The Boron Carbide market is growing at a CAGR of 3.0% from 2022 to 2030.
Which country dominates the Boron Carbide market?Asia Pacific emerged as the largest market for Boron Carbide.
Who are the key players in the Boron Carbide market?Key players in the Boron Carbide market are Absco Limited, CoorsTek, Inc., Electro Abrasives LLC, Feldco International, Höganäs AB, Kyocera Corporation, Mudanjiang Jingangzuan Boron Carbide Co., Ltd, Precision Ceramics Usa Inc, U.K. Abrasives, Inc., Washington Mills Electro Minerals Limited, Saint-Gobain S.A., H.C. Starck GmbH, Washington Mills, Kyocera Corporation, Dynamic-Ceramic Limited, and U.K. Abrasives Inc
Which factor drives the growth of the Boron Carbide market?Rising uses of boron compounds is expected to drives the market's growth over the forecast period.
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