According to a report from GLOBE NEWSWIRE, the global boron nitride and boron carbide market was valued at $738.1 million in 2023, and it is expected to reach $981.3 million by 2030, growing at a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2023 to 2030.
Boron nitride and boron carbide play an important role across various end-use industries, ranging from industrial to technological applications. For instance, cubic boron nitride (CBN) thin films have gained significant attention in recent market activities and developments. Among the key segments, the abrasive grade boron nitride and boron carbide segment is expected to grow at a 5% CAGR and reach $597.3 million by the end of the analysis period. Meanwhile, the nuclear-grade and defense-grade boron nitride and boron carbide segments are projected to grow at a 3% CAGR over the next seven years.
The market for nano boron carbide appears promising, reflecting the growing adoption in industrial applications. Hexagonal boron nitride (hBN) also shows strong growth potential, particularly in industrial applications. With a positive economic outlook, the market is expected to benefit from expanding manufacturing sectors.
The U.S. market is estimated to be valued at $217.6 million in 2023, while China is expected to reach $174 million by 2030 with a CAGR of 3.9%. Other notable geographic markets include Japan and Canada, which are forecasted to grow at CAGRs of 3.9% and 3.4%, respectively. In Europe, the German market is expected to grow at a CAGR of approximately 3.9% during the forecast period.
According to PR Newswire, the global coated abrasives market is expected to grow by $4.04 billion from 2024 to 2028, with a CAGR of 5.29% during the forecast period. The rising demand for PSA coated abrasives is driving market growth, with China becoming a major consumer and producer.
China held a dominant position in the global coated abrasives market, accounting for over 20% of total consumption in 2023. This is driven by strong economic growth, increased industrial activity, rising per capita income, and expanding demand for consumer goods (particularly in the electronics industry). Moreover, the rapidly growing automotive sector and urbanization are further boosting market growth during the forecast period.
According to a report by Allied Market Research, the global metal abrasives market was valued at $6.2 billion in 2022 and is projected to grow to $9.6 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
The growth of the global metal abrasives market is driven by various factors, including the increasing demand for energy-efficient, lightweight materials across various industries. Metal abrasives play a critical role in sandblasting, grinding, polishing, and other industrial processes, further fueling market expansion. Additionally, advancements in technologies like 3D printing have created new opportunities for metal abrasives in the manufacturing sector.
However, the market also faces challenges such as health hazards associated with the use of metal abrasives and concerns over their environmental impact. Additionally, fluctuations in raw material prices continue to pose challenges to market stability and growth.
In 2022, steel dominated the market, accounting for over 80% of the market share. The segment labeled as "others," which includes materials like glass beads and garnet, is expected to grow at a faster rate due to its diversified applications in surface treatment and cutting technologies.
According to a report by Yahoo! Finance, the global superhard abrasives market is expected to grow from $48.89 billion in 2023 to $86.54 billion by 2033, growing at a CAGR of 5.88%.
Superhard abrasive tools, which use diamond or cubic boron nitride (CBN) as the abrasive material, are used for polishing, grinding, and shaping. These abrasives significantly expand the application range of abrasive tools in nearly all types of processing materials, including high-hardness, brittle, and high-toughness materials.
The superhard abrasives market is segmented by end-use industry, including automotive, machinery, aerospace, metalworking, and electrical and electronic equipment. Among these, the metalworking industry is expected to grow at the highest CAGR during the forecast period, driven by the need for cutting, bending, and assembling metal structures.
Asia Pacific is expected to hold the largest share of the superhard abrasives market, driven by the increasing demand for electronic products in countries like China, India, and Japan. The expanding infrastructure in the region is attracting more investment in manufacturing, which is expected to further drive the market for superhard abrasives.
The global boron nitride and boron carbide market is expected to grow from $738.1 million in 2023 to $981.3 million by 2030, with a CAGR of 4.2% during the forecast period.
The U.S. and China are major players in the market, with China having a CAGR of 3.9% and the U.S. holding a market value of $217.6 million in 2023. Other significant regions include Japan and Canada.
Boron nitride and boron carbide are widely used in abrasives, nuclear applications, ceramics, cutting tools, and refractory materials. Their excellent thermal conductivity and resistance to wear make them ideal for high-performance applications.
The growth of the coated abrasives market is driven by increasing demand for PSA coated abrasives, particularly in China, along with growing sectors like automotive, construction, and consumer electronics.
Metal abrasives are used in a variety of processes such as sandblasting, grinding, and polishing. These abrasives play a vital role in metalworking by improving the surface finish and performance of metal products.
Tags: Black Silicon Carbide, White Fused Alumina, Brown Fused Alumina, Pink Fused Alumina, Black Fused Alumina
