Boron Minerals and Chemicals Market size worth above US$ 4.5 billion by 2027

According to a new research report by Global Market Insights Inc., the Boron Minerals and Chemicals Market size is estimated to exceed USD 4.5 billion by 2027.
 

Wide application scope of boron minerals and compounds across glass and ceramics, alloys and metals, detergents and bleaches, agrochemicals, adhesives products owing to their excellent chemical properties will drive market growth. Diverse functional application advantages such as its usage in eye drops, mild antiseptics, washing powders, and tile glazes is anticipated to fuel product demand. Besides, surging demand for borax in household cleaning products along with rising construction activities globally will boost industry size.
 

Boron chemicals include boric acid, borates, anhydrous borates, borax, anhydrous borax, boron halides, boric acid esters, boric acid esters. Borax is made by mixing sodium carbonate with colemanite. Key industry participants are investing in R&D to develop more durable and energy-efficient products for glass & ceramics sector. Given the vast market size of adhesives and their relevance in practically all material and application industries, boron is anticipated to play a minor but significant role in the adhesives industry. However, boron usage in adhesives is under threat due to the current outrage over unproven toxicological concerns.
 

Increase in demand for boric acid in ceramics and fiberglass, wood preservatives, nutritional supplements, and pest control applications to attract more consumers

Boric acid product type segment shows a significant share in the global boron minerals and chemicals market in 2020 with market size of over USD 950 Million and will witness gains over 4.5% by the end of 2027 owing to strong demand for ceramic glazes, wood preservatives and agrochemicals. Boric acid is an important component in agrochemicals, and these compounds are often utilized in agriculture to improve crop quality and output. They are also be included in the formulations of certain pesticide and fungicide formulations. Besides, key benefits in lowering the melting temperatures, increasing thermal resistance, mechanical strength, and improvement in aqueous and chemical durability have augmented its usage in manufacturing of glass, ceramics, and frits.

Boric acid is commonly used as a preservative for wood products to protect them from fungus and insect attacks. Moreover, strong product outlook in processed foods as a nutritional supplement and strengthening agent will stimulate the industry demand. Besides, increasing usage of boric acid for manufacturing of industrial and domestic cleaners, laundry detergents, and personal care products will further strengthen the segment growth.

Browse key industry insights spread across 300 pages with 245 market data tables & 27 figures & charts from the report, “Boron Minerals and Chemicals Market By Product Type (Boron Minerals [Colemanite, Ulexite, Tourmaline], Boron Chemicals [Boric Acid, Anhydrous Borates, Borax, Anhydrous Borax, Boron Halides {Boron trichloride, Boron trifluoride, Boron tribromide}, Boric Acid Esters, Boron Hydrides {Closo borane, Nido Borane, Arachno Borane}, Boron Carbide, Boron Nitride {Hexagonal Boron Nitride, Cubic Boron Nitride, Wurtzite Boron Nitride}]), By Application (Glass and Ceramics, Alloys and Metals, Detergents and Bleaches, Agrochemicals, Adhesives), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/boron-minerals-and-chemicals-market
 

Key benefits in enhancing plant development, growth, crop yields, and seed formation should augment demand for boron products in agrochemicals application.

Agrochemical’s product type segment to witness gains over 3.5% by the end of 2027 owing to strong demand for fertilizers and other agricultural applications. Boron aids the transport of water and nourishment in plants, which is important for plant development, growth, crop yields, and seed formation. It is necessary for the balance of sugar and starch, as well as the movement of sugar and carbs. With the increased usage of boron minerals and chemicals in fertilizers, the agrochemicals industry is predicted to rise consistently in the future years, resulting in seed development.
 

Despite of COVID-19-related challenges such as supply chain disruptions, changes in demand patterns, currency volatility, and restrictions on moving material in many geographies the agrochemical industry has been one of the few sectors that has been able to re-calibrate and restore normalcy across business operations owing to favorable agronomic conditions, positive weather patterns, and increasing sale of essential items. The demand for boron is positively driven in this application as it is primarily employed to promote a variety of plant functions, including cell wall development and stability, biological membrane structural and functional integrity, sugar, or energy transport into developing sections of plants, pollination, and seed set.
 

Ease in product availability along with rapid expansion in end-use markets is likely to fuel the North America boron minerals and chemicals market growth

North America boron minerals and chemicals market is anticipated to observe a considerable amount of growth rate during the forecasted time period owing to an increase in spending on construction activities which is supporting the demand. New product launches, joint ventures, and expansions are key growth strategies adopted by major players operating in the boron minerals and chemicals market in the region. Manufacturing companies and end-product manufacturers in North America are investing significantly in advancements and modifications in technology to meet the rising demand for boron minerals and chemicals in end-user industries in the region.
 

Major industry players include Eti Maden, Rio Tinto Group, American Borate Co., Orocobre Limited Pty Ltd., are the key industry participants. Most of these companies are well integrated across the value chain. Other industry participants include Inkabor, Searles Valley Minerals Inc, Boron Specialities LLC., Minera Santa Rita SRL, and others. The key strategies observed among the industry participants include, new product development pertaining to specific application, capacity expansion, and distribution network expansion.