Boron Minerals and Chemicals Market Size

Boron Minerals and Chemicals Market Size

Global Boron Minerals and Chemicals Market size exceeded USD 3.3 Billion in 2020 and is estimated to grow at over 4% CAGR from 2021 and 2027 driven by a rising usage of boron compounds in wide-ranging applications that include, glass and ceramics, detergents, alloys and metals, agrochemicals supported by favourable government laws that encourage the use of energy-efficient semiconductor and glass fibre products.

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Boron is a non-phosphate, ecologically safe, borate-based used in household cleaning agent that poses no health risks. Boron minerals are natural compounds that contain boron oxide in varying concentrations. Chemical residues from petrochemical detergents remain on the laundry, limiting its usable life.  In terms of commercial relevance, colemanite and ulexite are the most important boron minerals. Textile glass fibre, insulating glass fibre, enamels and glazes, and agriculture are few of the major consuming industries for boron compounds.

The market for detergents and bleaches is expected to grow significantly owing to the eco–friendly property of borate–based compounds used in detergents. However, the cleaning product leaves no residues when used. Also, colemanite, ulexite, and tourmaline are all its important minerals. Colemanite is in great demand due to its growing usage in the creation of heat-resistant glass, as well as a variety of industrial, medicinal, and cosmetic uses.

The market for glass and ceramics is expected to hold a considerable share in the overall boron minerals and chemicals market, owing to its greater durability and applications. With these excellent chemical properties boron glass is more preferred over other raw material chemicals for glass manufacturing. The growing application scope of glass and ceramics in a number of building and construction activities is expected to boost the market in the upcoming years.

Boric acid and borate salts act as pesticides, herbicides, algaecides, and fungicide. They are preferred above other pesticides for its efficacy in agrochemicals. Moreover, boric acid and sodium borate salt compounds limit pest invasion by blocking pest metabolism at the cellular level. Another popular boron chemical is borate, which absorbs infrared radiation and aids in the reduction of heat loss by infrared transmission in building materials like glass wool and other insulation materials. However, increasing constraints on its in personal care products may curtail its related compounds.