The boron carbide market is set to grow due to defense sector R&D, with significant opportunities in Asia Pacific. Abrasive applications lead the market.
The global market for boron carbide is estimated to be valued at ~US$ 118 Mn in 2018, which is expected to expand at a CAGR of ~4% throughout the forecast period of 2019 – 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.
For more insights into the market, request a sample of this report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-3945
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 body and armour.
The increasing prominence of nuclear technology for energy generation has also been considered to contribute towards the long-term growth of the boron carbide market. Considering the population growth as well as the urbanization rate of countries in the region, demand for power and energy is expected to increase with time, causing an inclination towards nuclear technology, further giving a significant push to the boron carbide demand in the coming years.
Applications in Abrasives Account for a Significant Market Share
The global boron carbide market has been classified on the basis of grade, product type, and application.
For More Information or Query or Customization Before Buying, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-3945
Boron Carbide Market: Vendor Insights
The global boron carbide market report offers key insights about few of the 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.
Several manufacturers are noted to enhance their boron carbide product lines by focusing on investments in research & development activities as well as broadening the scope of applications of boron carbide. 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 a relatively better efficiency. Hence, research & development is expected to generate lucrative growth for manufacturers in the marketplace.
For additional insights on the boron carbide market landscape, write to the analyst at press@futuremarketinsights.com.
For Information On The Research Approach Used In The Report, Request TOC@ https://www.futuremarketinsights.com/toc/rep-gb-3945
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Explore FMI’s Extensive Coverage on Chemicals & Materials Domain
Sulphur Bentonite Market Demand in the sulphur bentonite market is projected to grow at a CAGR of 5.0% between 2022 and 2029. Future Market Insights (FMI) forecasts the market value to top US$ 197.3 Mn in 2022
3D Printing Materials Market The global 3D printing materials market reached US$ 1.3 Bn in 2021. Sales are anticipated to be driven by the expansion of the automotive, medical, aerospace, electronics, and industrial sectors.
Boron Trifluoride & Complexes Market Future Market Insights (FMI) has forecasted the Boron Trifluoride & Complexes market to grow with a year on year growth of 5.3% in 2022 reaching a value of about US$ 270.7 Mn by 2022 end.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/boron-carbide-market
Press Release Source https://www.futuremarketinsights.com/press-release/boron-carbide-market
The article discusses the growth of the boron carbide market driven by R&D in the defense sector.
How is Asia Pacific contributing to the boron carbide market growth?
What are the main applications of boron carbide?
Explore more articles in the Research Reports category
