The global boron carbide market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period (2024-2031). Boron carbide can be used for developing military tanks as well as enhancing bullet-resistance properties of body armour, ongoing advancements in the defence sector will augment consumption across geographies. The boron carbide demand is expected to rise significantly across the globe due to many reasons, such as a significant number of developments relating to protection technology. The first reason is an increasing amount of investment going into researching new ways to protect people from bullets, including creating better protective gear like ballistic helmets and armoured vehicles made out of different materials. For instance, in May 2020, Craig International Ballistics obtained the contract to deliver Australian-manufactured soft body armour to the Australian Defence Force (ADF). Under the initial $1.0 million contract, delivery was 750 soft armour inserts to the Australian Defence Force (ADF). The Australian-made armours replaced the old armour used in service. The company has also previously provided protection element for the Australian army’s soldier combat ensemble, which consists of hard ballistic plates, soft armour inserts and additional extremity protection
Many countries across the globe are very concerned about national security. To purchase upgraded safety weaponry and accessories, governments are also increasing their defence budget. Products made of boron carbide are commonplace in the aerospace and defence sectors, where they are used to create nuclear components, armoured vehicles, weapon bodies, and defence materials. The US spent $766 billion on national defence during fiscal year (FY) 2022, which amounted to 12 percent of federal spending. Such spending indicates that US have prioritized national defence as a key part of budget, indeed they spends more on defence, relative to the size of its economy, than any other member of the G7. Boron makes defence and aerospace applications so advantageous is its ability to withstand extreme temperatures without melting or becoming brittle and being an excellent conductor of electricity at low cost. Due to these special properties, it is usually used in designing parts for aircraft because it outperforms most metals in terms of performance over time and causes less interference in electrical systems.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Grade
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- includes 3M, Henan E-Grind Abrasives Co., Ltd., Feldco International, and others.
Boron Carbide Market Report Segment
By Grade
- Abrasive Grade
- Nuclear Grade
By Type
- Powder
- Grains
- Paste
By Application
- Armors & Ballistic Protection
- Body Armors
- Vehicle Armors
- Industrial Abrasives
- Grinding and Polishing
- Cutting Tool
- Nuclear
- Others (Shields & Panels, Refractory Materials)
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Company Profiles
- Absco Limited
- Advanced Abrasives Corp.
- Bhukhanvala Industries Pvt. Ltd.
- CoorsTek Inc.
- Dalian Zhengxing Abrasive Co.
- Feldco International
- Höganäs AB
- Mudanjiang Jingangzuan Boron Carbide Co., Ltd.
- Precision Ceramics USA
- Saint-Gobain S.A.
- Schunk Ingenieurkeramik GmbH
- TRBOR
- S. Electrofused Minerals, Inc.
- UK Abrasives, Inc.
- Ultrananotech Private Ltd.
- Universal Hard Metal Co.
- Washington Mills Electro Minerals Ltd.
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