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.
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.
1.1 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 / $Billion)
9.2 Nuclear Grade
10. Boron Carbide - By Application Type (Market Size -$Million / $Billion)
10.1 Segment type Size and Market Share Analysis
10.2 Application Revenue and Trends by type of Application
10.3 Application Segment Analysis by Type
11. Boron Carbide- By Geography (Market Size -$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
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