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Boron Carbide Market Intelligence Report Offers Growth Prospects

Abrasives are the class of materials used primarily in metal working. Boron carbide is one such ceramic material widely used as an abrasive for the variety of industrial as well as commercial applications. The boron carbide is commercially manufactured in an electric arc furnace by reacting carbon and boric oxide. Boron carbide has an outstanding hardness property and hence offer high wear resistance. Some of the important mechanical properties include industrial shock resistance, moderate to low thermal conductivity, and impact resistance.

Boron carbide is extensively used in tools and machine components manufacturing industries. The high abrasion resistance of boron carbide offers its wide usage in manufacturing blasting nozzles thereby provides long service life in the industrial environment. Owing to the outstanding wear resistance and high mechanical strength, boron carbide is one of the preferred material for ballistic applications. In nuclear reactors, boron carbide acts for absorption of neutron and in refractory industry boron carbide acts as an antioxidant. Other applications includes lapping and polishing, armour tiles, powdered metal & ceramic forming dies etc. The global boron carbide market is expected to grow at significant CAGR owing to the increasing demand for technically advanced materials for various industrial applications.

The technological development in the manufacturing industries requires raw materials to form innovative products. As the technologies are emerging, raw materials of advance grades form the essential and irreplaceable feedstock for manufacturing industries. The growing demand for premium high-quality grade & high strength mechanical materials for metal working industries is one of the prime factor driving the global boron carbide market. Furthermore, the nuclear industries across the world demand protective ceramic materials to manufacture high quality components and equipment’ for various applications and thus impetus the global boron carbide market. Abrasive grade boron carbide has extensively used in polishing, wood working applications. Industries such as automotive and aerospace require fine polishing on the various parts wherein abrasive grades play a critical factor in obtaining required specifications. The requisite demand from these end-use industries drives the global boron carbide market.

The global boron carbide market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). The North America and Western Europe are the prominent regions in the global boron carbide market and account major share in terms of consumption. The factors such as strong technological base, vigorous research & development of innovative products and growth of nuclear industry play an important role in driving the boron carbide market in the region.

In APEJ region, boron carbide market is primarily driven by the growing metal fabrication industries. The manufacturers are targeting the countries such as China, India, Indonesia, Vietnam and Taiwan to gain a competitive edge and increase their market share. The Japan boron carbide market is influenced by the demand for advanced materials from the nuclear industry. The nuclear industry in Japan is quite strong with strong developments to produce innovative products. The growing demand for advanced material for protective applications in nuclear industry boosts the boron carbide market in the Japan. The boron carbide market in Latin America and Western Europe is expected to register a sluggish growth during the forecast period owing to the low macro-economic factors.

Saint-Gobain S.A., 3M, H.C. Starck GmbH, Washington Mills, KYOCERA Corporation, Dynamic-Ceramic Limited, Bhukhanvala Industries, UK Abrasives, Inc., Dalian Jinma Boron Technology Group Co., Ltd, Shanghai Vital Industry Co. Ltd.

Source: http://www.iabrasive.com/articles/boron-carbide-market-intelligence-report-offers-growth-prospects

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