Boron Minerals and Chemicals Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, Italy, France, Russia, Spain, China, India, Japan, South Korea, Thailand, Malaysia, Australia, Brazil, South Africa, Saudi Arabia, UAE), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI4144
Boron Minerals and Chemicals Market size is likely to observe a significant upsurge from 2019 to 2025 due to its substantial use in manufacturing glass and ceramics. It is widely utilized in variety of glass production including insulation fiberglass, borosilicate glass, textile fiberglass, glazes and enamels, which is anticipated to drive its market demand over the projected period.
Boron is an essential element, mainly found in water, soil and rocks around the globe. The average soil boron concentration ranges from 10 to 20 ppm whereas average sea water has boron concentration in the range 0.5 to 0.9 ppm. These minerals and chemicals are economically produced and consumed across the globe. Open-cast mining technique is mostly utilized to mine huge high-grade crude borax deposits mainly in the U.S. and Turkey.
Boric acid market size is anticipated to register substantial gains over the forecast period due to increasing product demand from energy saving appliances sector. It is extensively utilized in fiberglass production for insulating residential and commercial buildings. Increase in awareness regarding different energy conservation methods and materials is anticipated to trigger boric acid demand, thus driving the boron chemicals market growth.
Glass and ceramics market size is predicted to rise significantly in projected timeframe owing to increasing usage in glass and ceramics in construction industry. Upsurge in construction activities mainly in China and India due to increasing private-public partnership for infrastructure development along with high government construction spending for large scale projects including highways and railways will drive construction industry growth, thereby fuelling demand for boron compounds in glass ceramics.
Additionally, manufacturing flat display panel glass for television is another significant boron consuming application. Shift in consumer preference from cathode-ray tube (CRT) TV’s to flat screen TV’s may boost flat panel glass panel demand. Approximately 11-13% boron oxide is utilized for producing flat panel glass, thereby driving boron minerals and chemicals market growth.
Detergents and bleaches market is likely to grow significantly over the estimated timeframe. Boron compounds including borax, anhydrous borax and boric acid are widely used in chemical industry to produce detergents and laundry bleaches. Increasing demand for safe and reliable laundry detergent from various industries including hospital, restaurants, hotel and textile industry is anticipated to boost industry growth, thereby driving boron minerals & chemicals demand.
Boron chemicals & minerals market size from agrochemicals is projected to witness steady growth. Boron compounds is widely used in manufacturing agrochemicals and plant supplements. It is a vital element for plants that helps in relocating sugar from leaves to reproductive system, thus allowing pollination followed with seed development. Decrease in fertile land and water due to urbanization has shifted focus on adoption of innovative technologies to boost crops yield. Agrochemicals helps in achieving high quality nutritive crops with maximum yield, which is anticipated to propel product demand, thereby propelling boron compounds market growth.
Global insulation market was predicted at approximately USD 50 billion in 2018 with gains at over 5.5% in the estimated timeframe. Fiberglass was accounted for second largest product segment in 2018 with gains over 5%. Insulating and acoustic properties including high tensile strength and low weight along with low cost and maintenance is driving the demand for fiberglass in insulation market, which is likely to fuel boron mineral and chemicals market growth.
North America, led by Mexico, Canada and the U.S. boron minerals and chemicals market size, is anticipated to rise significantly in the projected time period. Increasing demand for product in metals and alloy industry on account of significant growth in automotive sector in this region is likely to drive regional industry growth.
Europe, driven by UK, Spain, Italy, France and Germany market may observe steady gains due recovering construction sector especially in western Europe. Rising demand for reinforced building materials along with growth in glass and ceramic market is anticipated to bolster industry growth in this region.
Asia pacific, led by Japan, South Korea, Australia, China and India boron minerals and chemicals market is anticipated to experience significant growth in building and construction industry. Increase in population along with growing per capita income is likely to register significant demand for residential buildings and houses. High government construction spending for public infrastructure development including bridges, dams, roads, and highways may propel regional product demand.
Global boron minerals and chemicals market share is moderately fragmented. Major players include Eti Maden, American Borate Company, Rio Tinto Group, Boron Specialist LLC, Searles Valley Minerals Inc., Gremont Chemicals Co. Ltd., Rose Mill Co. Orocobre Limited, Mitsui Chemicals, Inc., The Chemical Company.
Companies are majorly focusing on innovation and increasing production capacities to cater worldwide product demand. Manufacturers are extensively investing technological innovations pertaining to extraction and manufacturing. Initiatives along with competitive pricing may support increase in market share over projected time frame.
Boron Minerals and Chemicals Market, By Product, 2014-2025 (Tons) (USD Million)
- Boron Minerals
- Boron Chemicals
- Boric Acid
- Anhydrous Borates
- Anhydrous Borax
- Boron Halides
- Boric Acid Esters
- Boron Hydrides
By Application, 2014-2025 (Tons) (USD Million)
- Glass and Ceramics
- Alloys and Metals
- Detergents and Bleaches
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Allergan, Inc.
- Salix Pharmaceuticals
- Sanofi (Genzyme)
- Seikagaku Corporation
- Zimmer Holdings, Inc.
- Galderma S.A.
- Smith & Nephew Plc.
- Anika Therapeutics, Inc.
- Ferring Pharmaceuticals
- F. Hoffman-La Roche Ltd.
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