U.S. Boron Carbide Market Size, Share, Analysis, Trends, Growth, 2032

U.S. Boron Carbide Industry Prospective:

The U.S. boron carbide market size was evaluated at $2,000 million in 2023 and is slated to hit $4,000 million by the end of 2032 with a CAGR of nearly 3% between 2024 and 2032

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U.S. Boron Carbide Market: Overview

Boron carbide is an extremely hard ceramic, a covalent composite utilized in engine sabotage powders, tank armor, and bulletproof vests. Moreover, it is made of ceramic material with a Vickers hardness of more than 30 GPa, thereby making it the third hardest material after diamond and cubic boron nitride. Reportedly, it has a density of about 2.52 g/cm3 and a melting point of about 2445 degrees. Reportedly, it possesses a complicated rhombohedral crystal structure having B12 icosahedra that forms a lattice unit.

Key Insights

• As per the analysis shared by our research analyst, the U.S. boron carbide market is projected to expand annually at the annual growth rate of around 3% over the forecast timespan (2024-2032)
• In terms of revenue, the U.S. boron carbide market size was evaluated at nearly $2,000 million in 2023 and is expected to reach $4,000 million by 2032.
• The global U.S. boron carbide market is anticipated to grow rapidly over the forecast timeline owing to an increase in the product penetration in defense sector owing to its exceptional features including chemical resistance and high hardness.
• In terms of grade, the abrasive grade segment is slated to register the highest CAGR over the forecast period.
• Based on application, the defense segment is predicted to dominate the segmental growth in the upcoming years.
• Region-wise, the Northeast boron carbide industry in the U.S. is projected to register the fastest CAGR during the projected timespan.

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U.S. Boron Carbide Market: Growth Factors

Surging product penetration in military activities to prop up the expansion of the U.S. market by 2032

An increase in product penetration in the defense sector owing to its exceptional features including chemical resistance and high hardness is anticipated to propel the U.S. boron carbide market. Furthermore, an increase in nuclear power generation coupled with technological innovations will proliferate the size of the market in the country. In addition, favorable government policies and a growing focus on research activities will drive the expansion of the market in the country. Humungous demand for the product in industrial manufacturing activities due to its refractory & abrasive nature is likely to pave the way for humungous growth of the market in the country.

U.S. Boron Carbide Market: Restraints

Fluctuating prices of raw materials can obstruct the expansion of the industry in the U.S.

Oscillating costs of raw components and tough competition from product alternatives can put brakes on the growth of the U.S. boron carbide industry. A rise in the level of toxicity caused by the product has diminished its demand in the country.

U.S. Boron Carbide Market: Opportunities

Supportive government initiatives can open new panoramas of growth for the market in the U.S.

Favorable government schemes along with a strong focus on research activities can open new growth avenues for the U.S. boron carbide market. Furthermore, the growing use of lightweight substances in the automotive and advanced ceramics sectors will spur the growth of the market in the country. Rising focus on the use of lightweight materials in vehicle production for enhancing fuel efficacy & vehicle performance will steer the expansion of the market space in the U.S.

U.S. Boron Carbide Market: Challenges

Surging health issues can challenge the expansion of the industry in the U.S. over 2024-2032

An increase in health concerns and technological innovations in substitute products can challenge the growth of the U.S. boron carbide industry. Furthermore, trade barriers and a rise in customs duties on the import of the product along with challenges experienced in the processing of boron carbide can impact the growth of the industry in the country.

U.S. Boron Carbide Market: Segmentation

The U.S. boron carbide market is divided into grade, form, application, and region.                                          

In terms of grade, the U.S. boron carbide market is bifurcated into abrasive grade and nuclear grade segments. Additionally, the abrasive grade segment, which gained approximately half of the market revenue share in 2023, is anticipated to register the fastest rate of growth yearly during the time interval from 2024 to 2032. The main factor fostering the segmental expansion can be due to an increase in the application of abrasive grade boron carbide in precision machining, manufacturing activities, and various other end-use sectors.

On the basis of application, the U.S. boron carbide industry is sectored into defense, nuclear, and industrial segments. In addition, the defense segment, which accrued about 45% of the industry share in 2023, is set to lead the segmental expansion in the U.S. in the ensuing years. The segmental expansion can be due to the large-scale use of boron carbide in ballistic armor systems, armor plates in defense vehicles, weapon systems, explosive devices, and shields.

Based on the form, the U.S. boron carbide market is divided into paste, grains, and powder segments.

U.S. Boron Carbide Market: Report Scope

U.S. Boron Carbide Market: Regional Insights

Southern region of the U.S. is expected to lead the market surge over 2024-2032

Southern region, which accrued 31% of the U.S. boron carbide market share in 2023, is set to retain its position in the U.S. market in the ensuing years. In addition to this, the regional market surge in the forecast timeline can be attributed to surging production activities and the flourishing automotive sector. An increase in the presence of defense & aerospace firms in the region will prompt the growth of the market in the region. Apart from this, strong supply chain management activities in the region will drive the regional market growth. An immense penetration of product in the energy sector will proliferate the size of the market in the U.S.

The Northeast boron carbide industry in the U.S. is predicted to record the highest rate of expansion annually within the next few years. The growth of the industry in the Northeastern part of the U.S. can be due to an increase in advanced manufacturing activities, economic growth, and favorable laws implemented by state authorities in the Northern part of the U.S.

U.S. Boron Carbide (TIC) Market: Competitive Space

The U.S. boron carbide market profiles key players such as:

• CoorsTek Technical Ceramics
• The 3M Company
• Schunk Technical Ceramics
• American Elements
• Washington Mills
• Stanford Advanced Materials
• San Jose Delta.

The U.S. boron carbide market is segmented as follows:

By Grade

• Abrasive Grade
• Nuclear Grade

By Form

• Paste
• Grains
•  Powder

By Application

• Defense
• Nuclear
• Industrial

By Region

U.S.

• Northeast
• Midwest
• South
• West