Boron Carbide Market Poised to Attain Worth US$ 174.5 Mn by 2027 end

“Boron Carbide Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027),” is the recent report of Future Market Insights that throws light on the overall market scenario during the period of 10-years, i.e. 2017-2027. According to this report, the global boron carbide market is estimated to be valued at US$ 113.7 Mn in terms of value and 8,394 Tons in terms of volume by 2017 end. The global boron carbide market is expected to expand at a CAGR of 4.4% over the forecast period (2017–2027) to reach a value of US$ 174.5 Mn by 2027 end. The market is expected to grow at a CAGR of 3.9% in terms of volume, over the forecast period and reach a volume of 12,342 Tons by 2027 end. Market players are targeting APEJ as their key sales region. China is expected to remain a highly opportunistic market over the forecast period in terms of the overall demand for boron carbide.

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

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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.

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

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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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This release was published on openPR.