Boron carbide has broad application prospects and strong market demand

Boron carbide is one of the hardest materials known in the world, its hardness is second only to cubic boron nitride and diamond. Boron carbide has the characteristics of low density, high strength, high temperature stability and good chemical stability. Boron carbide powder form is mainly produced through the reaction of boron oxide and carbon in an electric arc furnace, gas phase reaction or carbothermal reduction.

From the perspective of the downstream applications of boron carbide, the demand for boron carbide in the abrasive, military and nuclear industry markets continues to increase, while the refractory antioxidant market, which developed earlier, is becoming saturated. In terms of application in the abrasive market, boron carbide is a necessity in the sapphire processing process; in terms of application in the military industry market, boron carbide is mainly used to produce bullet-proof products, such as boron carbide bullet-proof inserts; in terms of application in the nuclear industry, boron carbide relies on 10B Isotopes are considered one of the best choices for neutron absorbing materials due to their good neutron absorption capabilities and excellent mechanical properties. In addition, new progress has been made in the application research of boron carbide in the electronic industry and high temperature fields. As the scope of applications gradually expands, the market demand for boron carbide will continue to grow.

According to the “2022-2026 China Boron Carbide Industry Market Survey Research Report released by the Industrial Research Center, my country is the world’s largest is a boron carbide producing country and is also the world’s largest boron carbide consumer market. Boron carbide consumption accounts for nearly 50% of the world’s total production. The global boron carbide market size was USD 347.21 million in 2020 and is expected to grow at a compound annual growth rate of 5% from 2022 to 2026.

The boron carbide market is highly concentrated, with the top ten industry players dominating the market. Boron carbide industry participants have improved their market competitiveness through strategic measures such as optimizing boron carbide production processes, acquiring and merging enterprises. For example, 3M has developed boron carbide containing a precise ratio of 4:3 boron to carbon. This product is suitable for wire saws of non-oxidized ceramics and oxidized ceramics, especially for sapphire cutting. In addition, some boron carbide industry players have also stimulated their business growth by increasing production capacity. For example, in 2019, Turkey built a new boron carbide production facility with an annual production capacity of approximately 1,000-1,500 tons of boron carbide. Major players in the global boron carbide industry include Henan Ruiheng New Materials Co., Ltd., Mudanjiang Jinjin Boron Carbide Co., Ltd., Kemet International Limited, Saint-Gobain, WASHINGTON MILLS, 3M, Absco Limited and Precision Ceramics USA.

Industry analysts said that in the main downstream markets of boron carbide, the refractory antioxidant market has become saturated, and it is expected that the market will be saturated in the future. The market demand for boron carbide is difficult to increase. Relatively speaking, in the three markets of abrasives, military industry and nuclear industry, the market demand for boron carbide is expected to usher in new growth in the future. Therefore, the competitiveness of some domestic boron carbide suppliers that are difficult to meet the needs of high value-added markets such as the nuclear industry and military industry may gradually decrease.