Nano Boron Carbide Market size is mainly driven by increasing application outlook in metal, biological and chemical industry.
It is a fine black powder consists of boron carbide particles sizing approximately over 40 nm in diameter. Nano boron carbide is used in various industries attributing to its hardness, unique neutron interaction, high temperature resistant and self-lubrication characteristics. Nano boron carbide is manufactured in heat furnace at by using petroleum coke and boric acid as key raw materials. The process can convert only 15% charge into boron carbide.
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Nano boron carbide has strong application in hard metal industry tools & machine components production owing to its attributes such as extreme hardness and chemical resistance. Global metal industry is expected to size over USD 2,500 billion during forecast timeframe with gains at over 5%. Its extensive used as abrasive in cutting tools and dies is likely to propel industry growth.
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Nano boron carbide is used as a degrader in conventional brain cancer radiotherapy. It can curb protons energy released during process without scattering. Graphite being its substitute is not efficient in screening the energy. Global cancer therapy market may grow at over 20% reaching USD 55 billion by 2024 which might drive product demand owing to rising prevailing brain tumors incidences.
Nano boron carbide has major significance in nuclear application due to its high neutron absorption quality used in nuclear shielding It is used as an additive to concrete for constructing nuclear plants and as protective coating over nuclear shielding panels & reaction control rods. Global nuclear energy demand exceeded 2500 TW-h in 2016 and might grow at a rate of over 5% driving product demand during forecast period.
Increasing Nano boron carbide application scope in military owing to its growing use in ceramic body armor manufacturing. These armors are light in weight, withstand extreme temperature, wear, corrosion and possess special electrical properties. Growing political instability and increased defense spending will propel industry growth. It is also used in manufacturing heavy armored protection systems of aircraft, ships and vehicles.
According to analysis, recent innovation provides microparticulate carbide reinforced in carbon nanotubes which consists of carbon Nano lumps formed on the tube surface. This method enables carbide particles use as composite fillers in manufacturing high strength composite materials with improved load transfer characters.
Asia Pacific Nano boron carbide market size led by China, India and Japan. China being the largest exporter and producer, drives the regional product demand. It caters to ceramic, refractory and abrasive industry in Asia Pacific regions. Increased in boron carbide use as substitute to diamonds drives regional industry growth.
Nano Boron Carbide Market Report Consists of:
1. Methodology and Scope
2. Executive Summary
3. Nano Boron Carbide Industry Insights
4. Industry segmentation
5. Industry size, forecast and growth expectations, 2017 - 2024
6. Industry ecosystem analysis Raw material insights
7. Technology insights
8. Regulatory framework
9. Industry dynamics
10. Key growth opportunities
11. Porter's analysis
12. Company market share, 2017
13. Competitor Profiles
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