The global market for boron carbide was valued at 4.9 billion U.S. dollars in 2021. This figure is forecast to grow over the next decade – based on a compound annual growth rate (CAGR) of 3.0 percent – to reach a market value of nearly 6.4 billion U.S. dollars in 2030. This would represent an increase of more than 30 percent when compared to 2021. Boron carbide is a crystalline compound of elemental boron and carbon. It's an extremely hard material commonly used in tank armor and bulletproof vests.
Market value of boron carbide worldwide in 2021, with a forecast until 2030
(in billion U.S. dollars)
*Values from 2022 to 2029 were estimated by Statista using data provided by the source. Projection based on a CAGR of 3.0 percent for the forecast period from 2022 to 2030.
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Spherical insights. (November 26, 2022). Market value of boron carbide worldwide in 2021, with a forecast until 2030 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1452870/global-boron-carbide-market-size/
Spherical insights. "Market value of boron carbide worldwide in 2021, with a forecast until 2030 (in billion U.S. dollars)." Chart. November 26, 2022. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1452870/global-boron-carbide-market-size/
Spherical insights. (2022). Market value of boron carbide worldwide in 2021, with a forecast until 2030 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1452870/global-boron-carbide-market-size/
Spherical insights. "Market Value of Boron Carbide Worldwide in 2021, with a Forecast until 2030 (in Billion U.S. Dollars)." Statista, Statista Inc., 26 Nov 2022, https://www.statista.com/statistics/1452870/global-boron-carbide-market-size/
Spherical insights, Market value of boron carbide worldwide in 2021, with a forecast until 2030 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1452870/global-boron-carbide-market-size/ (last visited November 22, 2024)
Market value of boron carbide worldwide in 2021, with a forecast until 2030 (in billion U.S. dollars) [Graph], Spherical insights, November 26, 2022. [Online]. Available: https://www.statista.com/statistics/1452870/global-boron-carbide-market-size/
