Boric acid is a monobasic and weak form of boron, widely used as a flame retardant, and in pest control and antiseptic applications. It comprises colorless form of white powder or crystals, which dissolves effortlessly in water. The increasing demand for fiberglass and glass in automotive and construction applications has resulted in the growth of the boric acid market in countries such as India and China. In addition, noteworthy demand for boric acid in non-residential and residential applications is driving the market in Europe and North America.
MARKET DYNAMICS
The rising demand for insulation materials boosts the boric acid market with upsurge in demand for commercial and residential applications. Furthermore, rise in construction and building due to increase in macro-economic factors such as, per capita income has prompted the growth of the boric acid market. Moreover, the increasing demand for boric acid in fiberglass insulation has majorly fueled the market growth, and the trend is anticipated to continue in the coming years. The rising demand for boron and borate products in the oil and gas sector as a Ph and viscosity modifier is likely to offer the boric acid market with growth opportunities.
MARKET SCOPE
The "Global Boric Acid Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the boric acid with detailed market segmentation by form, application, end use. The global boric acid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading boric acid market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global boric acid market is segmented on the basis of form into boric acid powder, borax powder, others. On the basis of application the boric acid market is segmented into glass and fiberglass, medical, personal care, flame retardants, wood preservatives, pest control, nutritional supplements, others. Moreover, on the basis of end use the market has been segmented into fiberglass industry, building and construction, ceramics, pharmaceuticals, others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global boric acid market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The boric acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the boric acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the boric acid market in these regions.
MARKET PLAYERS
The reports cover key developments in the boric acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from boric acid market are anticipated to lucrative growth opportunities in the future with the rising demand for boric acid in the global market. Below mentioned is the list of few companies engaged in the boric acid market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the boric acid market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- 3M
- Avantor Performance Materials
- BASF SE
- Borax
- Eti Maden
- Gujarat Boron Derivatives
- Minera Santa Rita (MSR)
- Quiborax
- Russian Bor
- Tomiyama Pure Chemicals Industries
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