Boric Acid Market Analysis, Share, Industry & Revenue [2031]
Boric Acid Market Analysis, Share, Industry & Revenue [2031]
Segments - Boric Acid Market by Applications (Industry & Commercial and Household), Distribution Channels (Wholesale, E-Commerce, and Retail Shops), End-users (Ceramics, Tiles, Fiberglass, Agriculture, Wood Preservation, Pharmaceuticals, and Cosmetics), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :MC-4384
| 4.3 Rating
| 72 Reviews
| 178 Pages
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Report Description
The Global Boric Acid Market size was valued at USD 840.7 Million in 2022 and is expected to surpass USD 1.33 Billion by 2031, expanding at a CAGR of 5.3% during the forecast period, 2023 – 2031. Boric acid is a weak acid that is used as an antiseptic and flame retardant. It is in colorless form or powder form and it is odorless and soluble in water. Boric acid is used to bind steel-smelting furnaces for manufacturing magnesia refractory bricks.
The COVID-19 pandemic affected the business across the globe. Governments of numerous countries across the world took lockdown measures to control the spread of the disease. This has resulted in the halt of manufacturing operations, restrictions on supply and transport, and infrastructure.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand for boric acid in ceramics, wood preservatives, fiberglass, nutritional supplements, and pest control applications is driving the boric acid market.
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Usage of boric acid is restricted in personal care applications can hamper the growth of the market.
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Growing adoption of boric acid for making glass designs to decrease melting temperatures, increase thermal resistance & mechanical strength, and improve aqueous and chemical durability is projected to boost the boric acid market during the forecast period.
Scope of Boric Acid Market Report
The report of boric acid market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes |
Details |
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Report Title |
Boric Acid Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016 - 2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Applications (Industry & Commercial and Household), Distribution Channels (Wholesale, E-Commerce, and Retail Shops), End-users (Ceramics, Tiles, Fiberglass, Agriculture, Wood Preservation, Pharmaceuticals, and Cosmetics) |
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Regional Scope |
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
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Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
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Key Players Covered |
3M Company, Avantor Performance Materials, LLC, Eti Maden, Gujarat Boron Derivatives, Minera Santa Rita S.R.L., Organic Industries Pvt. Ltd. and QUIBORAX S.A |
Boric Acid Market Segment Insights
Industry & commercial segment to exhibit a high CAGR during the forecast period
On the basis of applications, the market can be segmented into industry & commercial and household. The industry & commercial segment is estimated to exhibit a high CAGR during the forecast period. Boric acid is used as an energy-saving tool and also as an insulation for commercial and residential buildings. Boric acid is also used for generation of energy from oil extracts and the wind.
Wholesale segment is anticipated to grow at a sustainable rate during the forecast period
On the basis of distribution channels, the market can be divided into wholesale, e-commerce, and retail shops. The wholesale segment is anticipated to grow at a sustainable rate during the forecast period. The wholesale segment provides a large amount of boric acid at a cheap price as compared to other distribution channels. Industries require a large amount of boric acid for the formation of fiberglass and ceramics and the wholesale distribution channel provides them considerable discount as the quantity required by them is huge.
Fiberglass segment is estimated to grow at a robust rate
Based on the end-users the market is segregated into ceramics, tiles, fiberglass, agriculture, wood preservation, pharmaceuticals, and cosmetics. The fiberglass segment is anticipated to grow at a robust rate during the forecast period. High demand for the fiberglass and glass in the market is propelling the segment growth. It helps in reducing the melting temperature and provides mechanical strength. However, the ceramics and tiles segments are also anticipated to have a significant market share during the forecast period due to increasing construction activities in emerging economies.
Asia pacific is projected to hold a large share in the market
In terms of regions the market can be divided into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific accounted for a large share of the market in 2020, and is anticipated to grow at a rapid pace during the forecast period. The huge availability of glass and ceramic manufacturers in the region is propelling the market growth.
Moreover, rapid industrialization and growing construction industry in countries such as China and India are major factors that are spurring the regional market growth. However, the market in North America is projected to hold a significant market share, and is expected to register a substantial CAGR during the forecast period.
Segments
By Applications
- Industry & Commercial
- Household
By Distribution Channels
- Wholesale
- E-commerce
- Retail Shops
By End-users
- Ceramics
- Tiles
- Fiberglass
- Agriculture
- Wood Preservation
- Pharmaceuticals
- Cosmetics
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
- 3M Company
- Avantor Performance Materials, LLC
- Eti Maden
- Gujarat Boron Derivatives
- Minera Santa Rita S.R.L.
- Organic Industries Pvt. Ltd.
- QUIBORAX S.A
Competitive Landscape
The key players in the market are 3M Company, Avantor Performance Materials, LLC, Eti Maden, Gujarat Boron Derivatives, Minera Santa Rita S.R.L., Organic Industries Pvt. Ltd. and QUIBORAX S.A. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Boric Acid Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Boric Acid Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Boric Acid Market - Supply Chain
4.5. Global Boric Acid Market Forecast
4.5.1. Boric Acid Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Boric Acid Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Boric Acid Market Absolute $ Opportunity
5. Global Boric Acid Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Boric Acid Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Boric Acid Demand Share Forecast, 2019-2026
6. North America Boric Acid Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Boric Acid Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Boric Acid Demand Share Forecast, 2019-2026
7. Latin America Boric Acid Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Boric Acid Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Boric Acid Demand Share Forecast, 2019-2026
8. Europe Boric Acid Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Boric Acid Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Boric Acid Demand Share Forecast, 2019-2026
9. Asia Pacific Boric Acid Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Boric Acid Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Boric Acid Demand Share Forecast, 2019-2026
10. Middle East & Africa Boric Acid Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Boric Acid Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Boric Acid Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Boric Acid Market: Market Share Analysis
11.2. Boric Acid Distributors and Customers
11.3. Boric Acid Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. 3M Company
11.4.2. Avantor Performance Materials, LLC
11.4.3. Eti Maden
11.4.4. Gujarat Boron Derivatives
11.4.5. Minera Santa Rita S.R.L.
11.4.6. Organic Industries Pvt. Ltd.
11.4.7. QUIBORAX S.A
Methodology
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