Boron Nitride and Boron Carbide Global Strategic Industry Report 2024: Market to Reach $981.3 Million by 2030 - Increasing Use as Diamond Substitute & Growing Demand for Super Abrasives - ResearchAndMarkets.com
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Global Boron Nitride and Boron Carbide Market to Reach $981.3 Million by 2030
The global market for Boron Nitride and Boron Carbide estimated at US$738.1 Million in the year 2023, is projected to reach a revised size of US$981.3 Million by 2030, growing at a CAGR of 4.2% over the analysis period 2023-2030.
Boron nitride and boron carbide play vital roles across various end-use markets, with applications ranging from industrial to technological sectors. The global reserves, production, and demand for boron are overviewed, providing insights into market dynamics. Cubic boron nitride (CBN) films are gaining prominence, driven by recent market activity and developments.
Abrasive Grade Boron Nitride and Boron Carbide, one of the segments analyzed in the report, is expected to record 5% CAGR and reach US$597.3 Million by the end of the analysis period. Growth in the Nuclear & Defense Grade Boron Nitride and Boron Carbide segment is estimated at 3% CAGR for the next 7-year period.
The nano boron carbide market outlook is optimistic, reflecting expanding industrial applications. Hexagonal boron nitride (hBN) demonstrates growth potential, particularly in industrial applications. The improving economy contributes to general market optimism, with expectations of drawing growth from the manufacturing industry. In 2024, the global market for boron nitride and boron carbide is competitive, with key competitors vying for market share.
The U.S. Market is Estimated at $217.6 Million, While China is Forecast to Grow at 3.9% CAGR
The Boron Nitride and Boron Carbide market in the U.S. is estimated at US$217.6 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$174 Million by the year 2030 trailing a CAGR of 3.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 3.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 183 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $738.1 Million |
| Forecasted Market Value (USD) by 2030 | $981.3 Million |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Boron Nitride and Boron Carbide: End-Use Market
- Global Boron Reserves, Production & Demand - An Overview
- CBN Films Market Overview
- Recent Market Activity
- Nano Boron Carbide Market Outlook
- Hexagonal Boron Nitride Market: Expanding Industrial Applications to Favor Growth
- Improving Economy Buoys General Market Optimism
- Market to Draw Growth from Improving Prospects in Manufacturing Industry
- Boron Nitride and Boron Carbide - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- CBN: Increasing Use as Diamond Substitute
- Growing Demand for Super Abrasives Fuelling CBN Market
- Innumerable Material Attributes Foster CBN & PCBN Applications
- Comparative Analysis of Filler Properties (BN, Al2O3, AlN, Fused SiO2)
- CBN Abrasives to Climb Growth Ladder as Grinding Usage Soars
- Developments in CBN Grinding
- CBN and Diamond Replace Aluminum Oxide Tools
- Metal Cutting Tools: A Key End-Use Market
- Automotive Industry - A Key Growth Area
- Boron Nitride Nanotubes Vs Carbon Nanotubes
- Opportunities for Boron Nitride in Electronic Components Market
- Boron Nitride in Cosmetic Products
- Boron Nitride Nanotubes (BNNTs): A Super-Light, Heat-Resistant Material Emerges as the Next Big Thing
- Boron Nitride Injects Fresh Optimism into Cancer Treatment
- Boron Nitride Nanocage - A High Performance Filter
- Q-BN, a New Phase of Boron Nitride: Potential Applications in Cutting Tools & Displays
- Boron Carbide Dazzles on the Pyrotechnics Landscape
- Pyrolytic Boron Nitride Replacing Quartz Crystal
- Recent Advancements - Synthesis of 2D Hexagonal Boron Nitride
- Hexagonal Boron Nitride - Potential Substrate for Graphene Devices with High Heat Dissipation
- Boron Nitride to Make Zigzag-Edged Graphene Nanoribbons
- Researchers Develop a New Method to Produce C-BN
- New Boron Carbide Production Method Aims to Lower Production Costs
- Simplified Process Developed for h-BN Production
- New Process Improves Relative Density & Ballistic Performance of Boron Carbide Armor
- CBN Films for Advanced Machining
- Mass Selected Ion Beam Deposition
- New Technique Increases Yield of Nanotubes
- BN Films Over Carbon Fibers
- Spherical Boron Nitride - Better Composite Materials
- New Boron Nitride Processing Technique
- BN Nanotubes Strengthen Coatings
- New Process Optimizes CBN Film Synthesis
- New Compound to Replace CBN
FOCUS ON SELECT PLAYERS (Total 21 Featured)
- 3M Company
- Denka Co. Ltd.
- Element Six
- ILJIN Diamond Co. Ltd
- Momentive
- Mudanjiang Jingangzuan Boron Carbide Co. Ltd
- Sandvik Hyperion
- Shin-Etsu Chemical Co. Ltd.
- Showa Denko KK
- Tomei Diamond Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/52d7kk
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