NEW YORK, June 17, 2022 /PRNewswire/ — The “Boric Acid Market by Application and Geography – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the boric acid market between 2020 and 2025 is 321.1 thousand MT, as per the latest market analysis report by Technavio. The report also predicts the market to record an accelerating growth momentum at a CAGR of 4.68% during the projected period . The increase in demand from developing countries and growing demand for energy-efficient buildings are some of the key market drivers. However, factors such as stringent regulations and policies will challenge market growth.
To get the exact yearly growth variance and the YOY growth rate, Read this Sample Report.
The boric acid market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market. To make the most of the opportunities and recover from post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. The boric acid market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies .
Some Companies Mentioned with their Offerings
- 3M Co.: The company offers 3M 10B enriched boric acid, which is used for neutron absorbing chemical shim in commercial nuclear power plants.
- Avantor Inc.: Tthe company offers granular boric acid and orthoboric acid under the brand vwr.
- Eti Maden isletmeleri Genel Mudurlugu: The company offers different types of boric acid, including normal-, low- and ultra-low sulfate granular boric acid, and powder boric acid.
- Orocobre Ltd. Co.: The company offers high-quality boric acid, which is derived from hydroboracite feedstock.
- Rio Tinto Ltd.: The company offers Optibor EP boric acid, which is used in binding agent, fertilizers, oxidizing agents, and other applications.
- SCL Italia Spa: The company offers a wide range of boric acid through its Larderel product segment.
- Sociedad Quimica y Minera de Chile SA: The company offers boric acid, which is used in the functioning of solar thermal power plants.
- The Chemical Co.: The company offers technical granular and powdered grades of boric acid.
- Tokyo Chemical Industry Co. Ltd.: The company offers a wide range of boric acid triesters, such as triisopropyl borate, tributyl borate, trimethyl borate, and others
- Tomiyama Pure Chemical Industries Ltd.: The company offers 99.5% pure boric acid of nuclear reactor grade, special quality grade, and reagent grade.
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Key Revenue-generating Segment Highlights
The boric acid market report is segmented by Application (glass and ceramics, agriculture, detergents, and others) and Geography (APAC, North America, Europe, South Americaand MEA).
- The glass and ceramics application segment held the largest boric acid market in 2020. The segment will continue to account for the highest revenue throughout the forecast period. The growth of this segment can be attributed to growing use of boric acid in borosilicate glass, textile fiberglass , and IFG is expected to drive the growth of the market. In reinforcement fiberglass (RFG) and IFG, the use of boric acid improves fiberizing efficiency and fluxing capabilities of the batch.
- APAC will be the leading region with 51% of the market’s growth during the forecast period. China and India are the key markets for boric acid market in APAC. Market growth in this region will be faster than the growth of the market in all other regions. The growing demand for boric acid from the glass and ceramics, agriculture, and cosmetics, and personal care industries will facilitate the boric…