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Boron Carbide Market Trends

Report ID: GMI2632
Published Date: Oct 2024
Report Format: PDF

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Boron Carbide Market Trends

The boron carbide industry is witnessing notable trends, particularly in the defense and nuclear sectors. In defense, the demand for lightweight, high-performance materials for armor and protective applications is on the rise, driving innovation in manufacturing processes to enhance efficiency and reduce costs. In the nuclear sector, boron carbide's critical role in neutron absorption is fostering advancements in production techniques, ensuring high purity and consistency. Manufacturers are increasingly adopting streamlined processes and automation to improve output while meeting stringent regulatory standards, positioning boron carbide as a vital material in both industries and contributing to overall market growth.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for boron carbide was valued at USD 394.1 million in 2023 and is expected to reach USD 600.9 million by 2032, driven by a CAGR of over 4.9% from 2024 to 2032.

The boron carbide industry from abrasive grade segment captured USD 344.1 million and is projected to grow at a 4.8% CAGR by 2032, due to its increasing use in ultrasonic drilling and ceramics production.

U.S. market is projected to achieve USD 144.3 million by 2032, driven by increasing demand in defense, aerospace, and nuclear sectors.

Major players in the industry include 3M, Absco Limited, CoorsTek Inc., Henan Ruiheng New Material Co., Limited, Höganäs AB, Kemet International Limited, Mudanjiang Qianjin Boron Carbide Co., Ltd., and Precision Ceramics USA.