SAN FRANCISCO, March 27, 2019
SAN FRANCISCO, March 27, 2019 /PRNewswire/ --The global boron carbide market is expected to display higher growth rate over the next seven years. Rapid surge in market is credited to the increase in the demand of boron carbide from the automobile, manufacturing industry, and aerospace industries. The rising use of boron carbide in military and defense sector is significantly propelling the growth of the market over the overcast period. Globally, market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for industry participants to invest in research and development of boron carbide market. Favorable laws and regulations by governmental agencies is boosting demand of the boron carbide in the military applications as well. Vast set of application of boron carbide in the automotive sector such as adoption of carbon fiber plated carbide in disc-brakes, is further escalating growth of the silicon carbide market in the recent years. Increasing use of the boron carbide in manufacturing industry is one of key driving factors for the rapid expansion of boron carbide market over the coming years. Boron carbide is commonly used as a base ingredient for refractories on the basis of high temperature resistance. Applications of the refractory materials ranges from heaters, ovens, large furnaces, and containers, such applications are vital in the manufacturing segment such as aluminum, steel alloys, and metal. Sustained growth of the metal and cement manufacturing sectors is major factor fueling expansion of the boron carbide market. Increasing use of boron carbide in nozzle manufacturing is considered as the key market trend associated with boron carbide industry.
Boron carbide is produced in an electric arc furnace by boding boric oxide and carbon. Major advantages of boron carbide include higher abrasion, superior hardness and higher resistance to wear & shockwaves. Boron carbide also exhibits properties such as higher impact resistance and low thermal conductivity. The boron carbide market is broadly categorized into three major segments based on the application type such as boron carbide powder, boron carbide grains and boron carbide paste. Boron carbide powder segment is growing rapidly in the market with substantial revenue generation in the last few years. The boron carbide market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in manufacturing sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth. Asia-Pacific region is estimated to hold a major share in the boron carbide market with massive growth in forecast period.
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Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rapid industrialization, rising demand from manufacturing sector, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the boron carbide market are The 3M Company, Saint-Gobain S.A., Washington Mills North Grafton, Inc., H.C. Starck GmbH., Dynamic-Ceramic Ltd., Kyocera Corp., UK Abrasives Inc., Bhukhanvala Industries Pvt., Ltd., Shanghai Vital Industry Co., Ltd., and Dalian Jinma Boron Technology Group Co., Ltd. Global Market for boron carbide to 2023 offers detailed coverage of boron carbide industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading boron carbide producers to provide exhaustive coverage of the boron carbide.
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