Calcium Hexaboride: Introduction
- Calcium hexaboride is an excellent deoxidizing agent used for copper refining. Calcium hexaboride is the only material that does not reduce the electrical conductivity of the copper metal. Refining and deoxidizing of copper can affect key properties during the metal refining process. This component is vital for the copper industry. Oxygen is a major disruptive factor that can affect the copper production process by hampering the key properties of metal. Oxygen can enter the metal and form copper oxide. Copper oxide formation can be a key challenge for manufacturers. Calcium hexaboride helps remove copper oxide by resisting its formation.
- Copper hexaboride has excellent properties that can prevent the lessening of electrical properties. Calcium hexaboride is widely used in the copper recycling industry, owing to its de-oxidant properties. These key properties are projected to boost the demand for calcium hexaboride during the forecast period.
Key Drivers and Restraints of Calcium Hexaboride Market
- Rise in demand for superior refining materials, such as calcium hexaboride, across the globe is projected to drive the global calcium hexaboride market in the near future. Calcium hexaboride is used in the copper industry, as it is a strong deoxidizing agent for copper refining.
- Calcium hexaboride is also used in the steel industry, especially in boron alloy steel making. It is also used in cathode material manufacturing. It is a potential element for n-type thermoelectric material, which has the ability to generate electricity from large amounts of heat.
- Calcium hexaboride is toxic in nature. It is harmful for humans if inhaled in large amounts. Calcium hexaboride can cause eye irritation and skin rashes. It can also cause respiratory system issues. This is anticipated to hamper the market for calcium hexaboride in the near future.
COVID-19 Impact Analysis on Price of Steel
- Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, have come to a halt because of lockdowns. Calcium hexaboride is utilized in the production of boron-alloyed steel. The pandemic has led to temporary closure of construction and infrastructure projects, which has affected the demand for steel across the globe. Decrease in demand for steel and oversupply of it is resulting in suppression of steel prices; as a result, many steel making players are halting the production of steel. This is hampering the global calcium hexaboride market.
Calcium Hexaboride Market Segmentation
- Based on application, the global calcium hexaboride market can be segmented into copper manufacturing, steel manufacturing, cathode manufacturing, and thermoelectric material manufacturing. The copper manufacturing segment is projected to hold key share of the global calcium hexaboride market during the forecast period. Calcium hexaboride is extensively used by copper refining companies as a superior deoxidizing agent. Rise in number of copper refineries due to high demand for copper metal in several industries is likely to fuel the demand for calcium hexaboride during the forecast period.
Calcium Hexaboride Market: Regional Segmentation
- In terms of region, the global calcium hexaboride market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The calcium hexaboride market in Latin America and Middle East & Africa is expected to expand at a rapid pace due to the presence of large copper mining companies operating in these regions
- Asia Pacific is expected to hold key share of the global calcium hexaboride market in the near future. China, Indonesia, and Australia are major copper producers in the region. Increase in copper and steel mining is projected to fuel the calcium hexaboride market during the forecast period.
- The calcium hexaboride market in North America and Europe is projected to expand at a moderate pace during the forecast period. Growth of automotive industry and steel extraction activities in these regions is anticipated to fuel the demand for calcium hexaboride in the near future.
Key Players Operating in Global Market
- Bayville Chemical
- ESPI Corp. Inc.
- 3M Company
- Alfa Aesar
- Triveni Chemicals
- ABSCO Limited
- Hubei Minmetals
Global Calcium Hexaboride Market: Research Scope
Global Calcium Hexaboride Market, by Application
- Copper Manufacturing
- Steel Manufacturing
- Cathode Manufacturing
- Thermoelectric Material Manufacturing
Global Calcium Hexaboride Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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