The Global Market for Boron Nitride and Boron Carbide is Projected to Reach 8.4 Thousand Metric Tons by 2022

Established Applications Sustain Growth in the Global Boron Nitride and Boron Carbide Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Boron Nitride and Boron Carbide market. The global market for Boron Nitride and Boron Carbide is projected to reach 8.4 thousand metric tons by 2022, driven by stable demand from well-established applications in ceramics, industrial tools and electronic devices, among others.

Boron nitride and boron carbide are the major compounds of boron that are used in diverse industries including automotive, machinery, metal working, electronics and medical, among several others. Boron carbide, one of the hardest materials in the world, finds use in a number of industrial applications, as well as in bulletproof vests, engine sabotage powders, and tank armor. Boron carbide also finds use in cutting tools and dies, metal matrix composites, brake lining of automotive, abrasives, scratch resistant coatings, neutron absorber in nuclear reactors, and high-pressure water jet cutter and grit blasting nozzles, among others. Boron nitride, available in hexagonal, cubic and amorphous forms, is widely used in various forms including as cutting tool material, ultra-hard abrasive, machinable ceramic for continuous casting, and in the form of intermetallics for vacuum metallizing. However, the primary use of boron nitride is in the form of pyrolytic crucibles used for growing gallium arsenide and other types of semiconductor single crystals.

The growth in the global market is influenced by investment trends and production capacity expansion plans in major end-use sectors. In the coming years, demand for boron carbide and boron nitride is expected to grow, bolstered by the recovering business growth in major end-use sectors including ceramics, refractory coatings and electronics. Demand is especially strong for cubic boron nitride (CBN), which has emerged as the mainstay material in industrial grinding tools. Properties such as electrical resistance, high thermal conductivity, and low thermal expansion are encouraging the use of CBN as an ideal alternative material to diamond and as an abrasive in machining and cutting applications.

As stated by the new market research report on Boron Nitride and Boron Carbide, the United States represents the largest market worldwide. Developing regions comprising Asia-Pacific, Latin America and the Middle East are forecast to witness strong growth at a projected combined CAGR of 5.1% over the analysis period, led by factors such as rapid industrialization and the ensuing increase in production output and expansion/upgrade of the manufacturing and industrial infrastructure, stable economic growth and increased consumer spending on goods and services.  

Major players in the market include 3M Company, Denka Co. Ltd., Element Six, ILJIN Diamond Co. Ltd, Momentive, Mudanjiang Jingangzuan Boron Carbide Co. Ltd, Saint-Gobain S.A., Sandvik Hyperion, Shin-Etsu Chemical Co. Ltd., Showa Denko KK, Tomei Diamond Co. Ltd., and Washington Mills Electro Minerals Company, among others.

The research report titled “Boron Nitride and Boron Carbide: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Japan, Europe and Rest of World. The market is analyzed by the product segments - Boron Nitride and Boron Carbide.

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