Boron Carbide Market to Reach USD 457.84 Million by 2032

November 24, 2025 12:00　　　　　　　　Astute

The global boron carbide market, valued at USD 314.11 million in 2023, is poised for significant growth with forecasts indicating a market valuation of USD 457.84 million by 2032. This expansion represents a CAGR of 4.49% during the forecast period from 2024 to 2032.

Known for its exceptional hardness and lightweight properties, boron carbide has become a key material in various industries, including defense, nuclear, and industrial manufacturing. Applications in armor systems, neutron absorption in nuclear reactors, and abrasive applications are expected to drive market demand.

Key Market Drivers

Increasing Defense Applications: Increased investment in advanced armor technology and protective equipment is driving the adoption of boron carbide.

Expanding nuclear sector: Boron carbide's role as a neutron absorber in nuclear reactors is expected to boost demand as countries pursue clean energy.

Industry Growth: The increasing reliance on high performance abrasives in machining and grinding processes further highlights the versatility of this material.

Market Segment Overview

By grade

* Abrasive material

* Nuclear power

* Refractories

By end use

* Armor and bulletproof

* Industrial abrasives

* Neutron shielding (nuclear reactor)

* Shields and panels

* Refractories

* others

By shape

* powder

* Granular

* Paste

By region

* North America

* US

* Canada

* Mexico

* Europe

* Western Europe

* UK

* Germany

* France

* Italy

* Spain

* Other Western Europe

* Eastern Europe

* Poland

* Russia

*Other Eastern European countries

* Asia Pacific

*China

* India

* Japan

* Australia and New Zealand

* South Korea

*ASEAN

*Other Asia Pacific regions

* Middle East and Africa (MEA)

*UAE

* Saudi Arabia

* South Africa

*Other MEAs

* South America

* Argentina

* Brazil

*Other in South America