Boron Carbide Market : Key Players, Applications, Outlook, SWOT Analysis And Forecasts By 2029

 The global Boron Carbide Market is estimated to be valued at US$ 141.2 Million in 2022, which is expected to expand at a CAGR of ~4.2% throughout the forecast period of 2022 – 2029, opines a recent market research report by Future Market Insights.

As per the insights of the report, the global boron carbide market is estimated to witness substantial growth over the forecast period owing to numerous factors, which include research and development activities in the defense sector. As boron carbide is commonly used for developing bulletproof vests as well as in military tanks, ongoing advancements in the defense sector will bolster the consumption of boron carbide across geographies, opines the FMI study.

Increasing Growth Opportunities in Asia Pacific excl. Japan Dictate Market Players’ Strategies

Asia Pacific excl. Japan is expected to account for a prominent proportion of the global boron carbide market in terms of value and volume, according to the FMI study. The region is also estimated to witness relatively stronger growth over the forecast period.

This can be attributed to the widespread application of boron carbide in developing products for the defense sector. Furthermore, increased defense budgets in countries in this region are expected to further spur growth in the boron carbide market, as boron carbide is largely used in the production of vehicle bodies and armor.

For Details on Vendors and their Offerings – Request a Sample Report at https://www.futuremarketinsights.com/reports/sample/rep-gb-3945

Boron Carbide Market by Category

Grade:

  • Abrasive
  • Nuclear

Product Type:

  • Powder
  • Grain
  • Paste

Application:

  • Abrasive
  • Nozzles
  • Armor
  • Others

Boron Carbide Market: Vendor Insights

The global boron carbide market report offers key insights about a few prominent market players that have established their foothold in the global boron carbide market. Some of the key players in the global boron carbide market are the 3M Company, Saint-Gobain S.A., UK Abrasives, Inc., H.C. Starck GmbH, Songshan Specialty Materials, Inc., Washington Mills North Grafton, Inc. and American Elements, among others.

End-use sectors such as automotive, aerospace, and defense, among others, are compelling the manufacturers to develop products based on boron carbide as these have a longer service life and are noted to operate with relatively better efficiency. Hence, research & development is expected to generate lucrative growth for manufacturers in the marketplace.

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