China to Lead the Global Boron Carbide Market with a Robust CAGR of 5.1% During 2017-2027
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Global Boron Carbide Market: Key Takeaways
Boron carbide finds opportunity in increasing requirement of specialized low medium high tools and machinery
The growth in automotive industry is expected to have significant impact over the forecast period
Increasing annual defence spending by various countries to acquire high tech safety weapons is spurring the demand for boron carbide
The growing interest of governments as well as scientific communities in non-conventional energy resources to facilitate the market growth
Growth in urbanization, especially in the developing countries of Asia Pacific and Middle East & Africa is expected to create demand for boron carbide
Overall GDP growth is expected to positively impact the market through 2027
Global Boron Carbide Market: Forecast by Grade Type
Grade type segment include abrasive grade segment and nuclear grade segment.
Abrasive Grade Estimated to Generate US$ 72.9 Mn in 2017
In terms of market value share, the abrasive grade segment is pegged to hold 66.8% of the overall global boron carbide market and is expected to reach at US$ 75.9 Mn in 2017. Increasing demand from end use industries is expected to fuel the growth of boron carbide market in the grade segment. In terms of value, the nuclear grade segment is projected to witness steady growth during the forecast period. Attributing to characteristics, such as faster performance and versatility, demand for nuclear grade is rapidly increasing in North America and Western Europe.
Global Boron Carbide Market: Forecast by Application
This segment consists of abrasives, nozzles, armour/nuclear and Others.
Nozzles and Armour Application Segments to Capture 40.5% Revenue Share Collectively
Nozzles and armour application segments are estimated to grow at slower growth rates and are anticipated to account for a collective share of 40.5% in 2017. Abrasives is expected to show good signs of growth over the forecast period. Abrasive are highly used in industrial equipment manufacturing and automotive sectors for fine gridding, effective lapping, nonferrous metals, titanium, hard metals and ceramic glasses.
Global Boron Carbide Market: Forecast by Product Type
On the basis of product type, global boron carbide market is segmented into powder, grains and paste.
Powder Segment Generated US$ 57.0 Mn in Sales in 2016
In terms of value and volume, powder and grain segments together are expected to hold the majority share in the global boron carbide market throughout the forecast period. Powder segment was accounted for US$ 57.0 Mn in 2016 which was the largest than grains and paste segment in terms of value.
Global Boron Carbide Market: Forecast by Region
The seven regions of North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan, and MEA are covered in this report.
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APEJ, Latin America, and MEA to Witness Strong Growth during the Forecast Period
In terms of innovation, China is estimated to remain the centre of the world for production of boron carbide. The market is largely influenced by investments in the Asia Pacific region. New establishments in APEJ, impact the growth of the boron carbide market. The Latin America boron carbide market is estimated to be valued at US$ 36.2 Mn by 2017 end, increasing at a CAGR of 4.7% between years 2017 and 2027
Global Boron Carbide Market: Competitive Landscape
3M Company, ABSCO Limited, Advanced Abrasives Corporation, American Elements, Bhukhanvala Industries Pvt. Ltd., China Mudanjiang Chenxi Boron Carbide Co. Ltd, Dalian Jinma Boron Technology Group Co. Ltd (Dalian Jinma Group), Dalian Zhengxing Abrasive Co. Ltd., Dunhua Zhengxing Abrasive Co. Ltd., Dynamic-Ceramic Limited (CoorsTek), Feldco International, Electro Abrasives LLC, H.C. Starck GmbH, Saint-Gobain S.A, Sigma-Aldrich Co. LLC. (Merck Group), Songshan Specialty Materials Incorporated, UK Abrasives, Inc, and Washington Mills North Grafton, Inc. are some of the key manufactures that are included in this report.
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