Global boron nitride and boron carbide market has been growing at a healthy pace over the years. However, during recent years, the market registered moderate growth rates, primarily due to the impact of global economic recession. Demand for boron nitride as well as boron carbide in all the matured regions including the US, Japan and Europe increased, albeit at a slower rate.
The US represented the leading global manufacturer of refined boron compounds in the year 2009. Domestic production as well as consumption of refined boron compounds increased moderately during the 2008-2009 period, as the end-uses drifted slightly towards ceramics and glass from detergents and soaps. Demand for glass in the construction sector declined drastically during 2008, due to the slump in the housing sector. However, slump in the sales of glass was offset by the increased demand for fiberglass during the same period.
Demand for borate in regions such as China would be largely driven by the region's glass and ceramic industries. As a result, exports of borates from the US, Chile, Turkey and Russia to China are expected to rise significantly in the coming few years. The increasing higher building standards are likely to fuel the borates market in Europe as well as in other developing regions in the next few years.
United States represents the largest market for both boron nitride and boron carbide worldwide, as stated by the new market research report on Boron Nitride and Boron Carbide. Europe constitutes the fastest growing market for boron nitride and boron carbide. The European boron nitride and boron carbide market is projected to grow at a compounded annual rate of more than 4.0% over the analysis period. In terms of product segments, Boron Nitride constitutes the largest as well as fastest growing product segment worldwide.
Boron nitride is known for its unique features such as thermal conductivity, high-temperature lubricity and electrical insulation. The material, both in the form of powder and hot-pressed, has found its application in varied industries ranging from aerospace to steel castings. Boron nitride is widely used as high-temperature mold releasing agent due to its high-temperature stability and lubricity. Newer production processes and methods in varied industries including metal, glass, composites, ceramics, and plastics have fueled the demand for high performance materials such as boron nitride. Another major trend includes the usage of latest tools and technologies in the engineering sector for cutting and machining applications. Several tools, which were earlier making use of hard materials such as diamond, are now using substitute materials such as cubic boron nitride (CBN) and polycrystalline boron nitride (PCBN). Industries such as automotive, heavy industry, and aerospace are the largest consumers of CBN and PCBN inserts. These materials, which are better suited than diamond in applications involving very high temperatures, deliver better results at lower costs.
Major players profiled in the report include Ceradyne Inc., ESK Ceramics GmbH & Co. KG, Denki Kagaku Kogyo Kabushiki Kaisha, Electro Abrasives Corporation, H.C. Starck Gmbh & Co KG, Momentive Performance Materials Inc., Mudanjiang Jingangzuan Boron Carbide Co. Ltd, Saint-Gobain Advanced Ceramics Corp, Shin-Etsu Chemical Co Ltd, Showa Denko KK, Sumitomo Electric Hard Metal Corp., and Washington Mills Electro Minerals Company.
The research report titled "Boron Nitride and Boron Carbide: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the boron nitride and boron carbide markets, impact of recession on the markets, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Boron Nitride and Boron Carbide market for the years 2007 through 2015 for the following geographic markets - US, Japan, Europe, and Rest of World. Key segments analyzed include Boron Nitride, and Boron Carbide. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.