Global boron carbide market will witness significant growth with increasing industrial applications. It is widely used in grinding, lapping, and polishing metals & ceramics, which complements its applications in the manufacture of industrial tools, armored suits & vehicles, automotive components, and others.

The production of boron carbide by using carbothermic reduction method has a scientific and economic advantage over other methods used for its manufacture. Under this method, boric acid and petroleum coke are used as raw materials for endothermic reactions in a specially designed graphite resistance furnace to give high-quality boron carbide with increased yield.

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Driven by the aforementioned factors, global boron carbide market size is slated to exceed USD 480 million by 2027.

Boron carbide is considered the third hardest material and is broadly used for grinding steels. It offers less wear and extreme pressure tolerance, which increases its preference over traditional abrasives for precise grinding of hardened steel.

Owing to such exceptional properties, boron carbide finds numerous applications in sandblasting nozzles, polishing, production of protective bodysuits & vehicle armor, and others. Notably, the industrial grinding applications held around 30% share of global boron carbide market in 2020.

Boron carbide paste is witnessing significant demand in various industrial applications owing to its high shock removal rate, superior surface quality, low cost, and enhanced productivity. This leads to its growing usage across numerous applications, such as lapping, grinding, and polishing of non-ferrous and thermoplastic materials.

There has been surging demand for thermoplastics for making numerous automotive components, representing high consumption of boron carbide paste.

Boron carbide grains are suitable for applications, including lapping, sintering technology, metal matrix composites, and flux-cored wires for build-up welding, which plays a crucial role in the processing of materials used in manufacturing, construction, and other industries.

Significant growth in industrial manufacturing and construction sectors across Asia Pacific and Latin America owing to consistently rising demand from the escalating population would boost boron carbide grains demand to a large extent.

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North America boron carbide industry size is recorded around 25%. This is attributed to the growing production and sales of ceramic armor in the U.S. Ceramic armor offers compressive strength and is widely used in body armor and armored vehicles to resist projectile penetration. Rising government expenditure towards the strengthening of defense infrastructure would escalate product consumption in armored vehicles and personal safety equipment.

As per the Stockholm International Peace Research Institute (SIPRI), the U.S. military expenditure was valued at around USD 778 billion in 2020. Since boron carbide is considered one of the toughest materials, several ceramic armor makers prefer it over silicon carbide, alumina, and titanium diboride.

Leading companies functioning in global boron carbide market include Precision Ceramics USA, Saint-Gobain, Henan Ruiheng New Material Co., Limited, 3M, WASHINGTON MILLS, Absco Limited, and Höganäs AB, among others. These boron carbide manufacturers are emphasizing on strategic partnerships and new product launches to enhance their profit share in the global market.

The COVID-19 pandemic drastically impacted the industries at all verticals, including manufacturing, construction, and others. The transportation restrictions significantly hampered the demand for boron carbide from various industries, including nuclear, defense, and others, which impeded the market growth to the large extent. However, increasing government efforts to ease the restrictions and support industries to achieve rapid revival is likely to drive Boron Carbide Market growth in the coming years.

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