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 – 2030Industry: Advanced Materials
Global Boron Carbide Market Insights Forecasts to 2030
- The Global Boron Carbide Market was valued at USD 4.9 Billion in 2021.
- The Market is growing at a CAGR of 3.0% from 2022 to 2030
- The global Boron Carbide Market is expected to reach USD 6.39 Billion by 2030
- North America is expected to grow the fastest during the forecast period.
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The Global Boron Carbide Market is expected to reach USD 6.39 Billion by 2030, at a CAGR of 3.0% during the forecast period 2022 to 2030. 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.
A crystalline form of Boron and Carbon is called Boron Carbide. In terms of hardness, it is second only to cubic boron nitride and diamond. It is utilised in control rods for nuclear power production, lightweight composite materials, and abrasion- and wear-resistant goods. Its capacity to sustain an imposed force without failing or deforming plastically is what makes anything strong. Due to the compound's expanding use in the building and renewable energy industries, the world market for boron is anticipated to experience significant expansion over the next several years.
The construction industry in emerging nations is displaying a significant development potential due to increased disposable income, improving standards of living, and expanding government spending. Due to the compound's extensive range of uses, utilisation in other end-use sectors such as personal care, electronics, and healthcare is also anticipated to rise. The market is expected to grow as a result, internationally. Due to rising product demand from end-use sectors, mainly the construction industry, boron demand has expanded significantly in recent years, and this trend is projected to continue.
The number of years the mineral will be available is still very unpredictable. The use of the chemical is therefore expected to be reduced in the upcoming years in order to preserve the supply for future generations, which might have an influence on market expansion. The growth of the worldwide boron carbide market is being limited over the projected period, though, by a shortage of competent workers. The interface between logistics and supply chains, regulatory standards, and rules on export and import operations are further market restraints for boron carbide. In the next few years, it is anticipated that the increased demand from the resistive industry would support the expansion of the worldwide boron carbide market. Additionally, the nuclear, aerospace, and automobile industries are increasing their need for boron carbide on the market. In the nuclear industry, boron carbide is highly sought-after for use in protective ceramic materials. All of these elements might function as one of the major forces boosting the market's expansion and producing profitable chances.
Global Boron Carbide Market Report Coverage
|Market Size in 2021:||USD 4.9 Billion|
|Forecast Period 2022-2030 CAGR:||3.0 %|
|2030 Value Projection:||USD 6.39 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||279|
|Tables, Charts & Figures:||108|
|Segments covered:||By Product, By Application, By Region|
|Companies Covered:||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 U.K. Abrasives Inc.|
|Growth Drivers:||Rising uses of boron compounds is expected to drives the markets growth over the forecast period.|
|Pitfalls & Challenges:||Credit portfolios have been negatively impacted by the COVID-19 outbreak.|
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This research report categorizes the Market for global Boron Carbide based on various segments and regions, forecasts revenue growth, and analyses trends in each sub-market. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Boron Carbide Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Boron Carbide Market sub-segments.
Due to rising product demand from end-use sectors, mainly the construction industry, boron demand has expanded significantly in recent years, and this trend is projected to continue. Boron fibre is well recognised for increasing the rigidity of composite materials and is therefore well suited for applications in civil infrastructure. Additionally, as the advantages of the compound become more well known, the demand from the healthcare industry is growing. The substance is available in a form that may be used to treat muscle strengthening, vaginal yeast infections, menstrual cramps, and osteoarthritis. Therefore, it is anticipated that the increased use of the compound in a variety of end-use applications would boost the expansion of the boron market during the anticipated period. Restraint,
Concerns about the compound's shortage have grown as a result of its rapid usage in so many different applications and restricted supply. The number of years the mineral will be available is still very unpredictable. The use of the chemical is therefore expected to be reduced in the upcoming years in order to preserve the supply for future generations, which might have an influence on market expansion. The growth of the worldwide boron carbide market is being limited over the projected period, though, by a shortage of competent workers. The interface between logistics and supply chains, regulatory standards, and rules on export and import operations are further market restraints for boron carbide.
Opportunities: In the next few years, it is anticipated that the increased demand from the resistive industry would support the expansion of the worldwide boron carbide market. Additionally, the nuclear, aerospace, and automobile industries are increasing their need for boron carbide on the market. In the nuclear industry, boron carbide is highly sought-after for use in protective ceramic materials. All of these elements might function as one of the major forces boosting the market's expansion and producing profitable chances
- In 2021, the Boron minerals segment dominated the Market with the largest Market share of 60.1% and Market revenue of 2.94 Billion.
Based on the Product, the global Boron Carbide Market is categorized into Boron minerals and Boron chemicals. In 2021, the Boron minerals segment dominated the Market with the largest Market share of 60.1% and Market revenue of 2.94 Billion. 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.
- In 2021, the Glass and Ceramics segment accounted for the largest share of the Market, with 23.8% and a Market revenue of 1.16 Billion.
Based on the Application, the Boron Carbide Market is categorized into Glass and Ceramics, Alloys and Metals, Detergents and Bleaches, Agrochemical, Adhesives and Others. In 2021, the Glass and Ceramics segment accounted for the largest share of the Market, with 23.8% and a Market revenue of 1.16 Billion. 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.
Regional Segment Analysis of the Boron Carbide Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Asia-Pacific emerged as the largest Market for the global Boron Carbide Market, with a Market share of around 43.0% and 1.18 Billion of the Market revenue in 2021.
- Asia-Pacific emerged as the largest Market for the global Boron Carbide Market, with a Market share of around 43.0% and 1.18 Billion of the Market revenue in 2021. 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.
- North America Market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the increasing encouragement and benefits for foreign businesses to enter the region. With the expansion of these end-use industries, the demand for boron is anticipated to rise from the electronics, personal care, and healthcare sectors. In light of these reasons, it can be said that the North America area will likely experience a significant increase in boron demand in the near future.
The report offers the appropriate analysis of the key organizations/companies involved within the global Boron Carbide Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including Product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- 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
- U.K. Abrasives Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In January 2021, In response to consumer concerns about zinc and boron insufficiency, U.S. Borax has introduced two new fertilisers. ANHYBOR and ZINCUBOR are the brand names given to the goods, which are based on their formulations of boron and zinc, respectively.
- In April 2020, The 10%-owned Fort Cady Borate Mine in California began operations thanks to American Borate Co. The biggest conventionally contained borate occurrence in the world is at Fort Cady, which is also a vast and extremely uncommon source of colemanite deposits.
- In December 2020, In Turkey, a new liquid detergent based on borax as the primary ingredient has been introduced. The R&D division of Eti Maden created the product, which will be marketed under the brand name BORON.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Boron Carbide Market based on the below-mentioned segments:
Global Boron Carbide Market, By Product
- Boron minerals
- Boron chemicals
Global Boron Carbide Market, By Application
- Glass and Ceramics
- Alloys and Metals
- Detergents and Bleaches
Global Boron Carbide Market, Regional Analysis
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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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