Foreign media forecast: The boron carbide market will expand at a compound annual growth rate of 4.4% in the next 10 years.

Recently, foreign media released a report on “Bondon Boron Market: Global Industrial Analysis (2012-2016) and Opportunity Assessment (2017-2027)”.

According to the content, the global market value of boron carbide at the end of 2017 was 113.7 million US dollars, and the output was about 8394 tons. It is estimated that between 2017 and 2027 (the forecast period), the global boron carbide market will expand at a compound annual growth rate of 4.4%, and the market value will reach $174.5 million by the end of 2027; the product output will reach a compound annual growth rate of 3.9%. At the end of 2027, the total will reach 12,342 tons. According to market participants, the Asia Pacific region will be its key sales area. Among them, China is expected to remain a market full of opportunities in terms of overall demand for boron carbide.

Growth key

The current trend of upgrading low-end and high-end tools and machinery, and the growth of the automotive industry is expected to have a significant impact on the boron carbide market. At the same time, countries’ investment in high-tech weapons, government and scientific interest in non-traditional energy resources, and continued urbanization (especially in developing countries such as Asia Pacific, Middle East and Africa) have also stimulated demand for boron carbide and promoted the market. growth of.
The following is an excerpt from the report summarizing and prospecting the boron carbide market from different perspectives.

By level

The graded section of boron carbide can be classified into an abrasive grade and a nuclear grade. According to statistics, the abrasive-grade boron carbide market share in 2017 was about 72.9 million US dollars, accounting for 66.8% of the global global boron carbide market. It is expected to reach $75.9 million in 2027, driving the growth of the entire boron carbide market from end-use applications. Because of the versatility of nuclear grade boron carbide, demand in North America and Western Europe is increasing rapidly, so production will also grow steadily during the forecast period.

By application

The application of boron carbide can be roughly divided into abrasives, nozzles, armor/nuclear energy, and the like. Among them, the nozzle and armor sector accounted for 40.5% of the revenue share, but it is expected to slow down the growth rate in the future. Abrasives are widely used in fine-grained industrial equipment manufacturing and automotive applications, as well as fine grinding of non-ferrous metals, titanium, hard metals and ceramic glass, and are expected to show good growth.

According to different forms

Based on the product type, the global boron carbide market is divided into powders, granules and slurries. Regardless of market capitalization or quantity, it is expected that boron carbide powder and boron carbide particles will occupy a large share of the global market during the forecast period. In 2016, the market share of boron carbide powder was US$57 million, which is the largest market value compared to boron carbide particles and boron carbide paste.

By region

The report covers seven regions including North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan and MEA. According to the report, in the Asia-Pacific region, Latin America and MEA will witness strong growth in the region during the forecast period; in terms of innovation, China is still expected to be the world's boron carbide production center, and the market will be largely affected by investment in the Asia-Pacific region. . The 2017 Latin American boron carbide market is worth about $36.2 million and is expected to expand at a compound annual growth rate of 4.7% between 2017 and 2027.

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