The key driving factor for the Global High-purity Amorphous Boron Market is the in solid-fuel rocket propellant & explosives. The global government expenditure on government expenditures in space programs is projected to grow at an average annual growth rate of around 2% in the short term forecast. This growing expenditures where the U.S. accounts for a major share followed by China, Russia, Japan and emerging India, will further push the demand growth for High-purity Amorphous Boron.
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As mentioned earlier, High-purity Amorphous Boron powder is a much preferred additive for fuel-rich rocket propellants and explosives. Other key applications of High-purity Amorphous Boron includes its use in automotive and pyrotechnic mixtures. The global automotive industry is on a rise since its major downfall during the global economic recession in 2008-2009. Since then the automotive industry has experienced newer technologies, safety standards and government regulations. According to the World Health Organization (WHO), around 1.35 million people die in road crashes, with major deaths seen in low- and middle-income economies. Owing to this countries are adopting safety norms, which requires manufacturers to confirm airbags and seat-belts are fitted in all vehicles. These safety norms will further drive demand growth for High-purity Amorphous Boron which is used as an igniter in airbags and belt pre-tensioners.
Boron, with an atomic number 5 and denoted by the symbol B, it is a metalloid element, which is not only hard but highly resistant to heat. Boron has two allotropes in the form of amorphous and crystalline. High-purity Amorphous Boron powder is a brown colored powder and is highly reactive when compared to its crystalline counter-parts. Owing to its high reactivity and high heat of combustion, High-purity Amorphous Boron powder is used in fuel-rich propellants for rockets ramjets and igniter formulations. High-purity Amorphous Boron has an advantage over conventional rocket fuels, including aluminum and magnesium and are more preferred as a fuel. Other key application areas for High-purity Amorphous Boron are automotive, pyrotechnic mixtures, manufacture of high-purity metal borides and as an additive is high performance ceramics.
The application of High-purity Amorphous Boron in Propellant fuels & explosives, automotive and ceramics is estimated to account for over 60% of the global High-purity Amorphous Boron market over the forecast period owing to its versatility and wide scale applications.
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High-purity Amorphous Boron Market: Regional Outlook
Based on geographies, the global High-purity Amorphous Boron market is segmented into seven regions including North America, Latin America, Europe, CIS & Russia, Japan, APEJ (the Asia Pacific excluding Japan) and MEA. Among the above-mentioned regions, North America and Europe are estimated to account for more than 35% of global High-purity Amorphous Boron consumption with major producers having their High-purity Amorphous Boron manufacturing facilities in the regions. Asia-Pacific excluding Japan on the back of China and other emerging economies is anticipated to witness a medium to high growth in the global High-purity Amorphous Boron market during the long term forecast. Moreover, North America followed by Europe are projected to showcase moderate growth in the global High-purity Amorphous Boron market with Japan following a trend similar to these regions. Middle East & Africa and Latin America account for a mere single digit market share in terms of High-purity Amorphous Boron demand.
High-purity Amorphous Boron Market: Prominent players
Prominent players for the global High-purity Amorphous Boron market are Höganäs AB, Reade, H.C. Starck, S B Boron Corporation, SkySpring Nanomaterials, Inc., NewMet Ltd. are some of the key stakeholders in the High-purity Amorphous Boron market. The High-purity Amorphous Boron market consists of well-diversified global and regional players with the global vendors are ruling the market.
The research report presents a comprehensive assessment of the High-purity Amorphous Boron market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The High-purity Amorphous Boron market report provides analysis and information, according to market segments such as geographies, application and industry.
The High-purity Amorphous Boron report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The High-purity Amorphous Boron report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The High-purity Amorphous Boron report also maps the qualitative impact of various market factors on market segments and geographies.
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