Product Code: SR1423A295_Report
Market Overview:
- The global boric acid market size reached US$ 845 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,178 Million by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028. The increasing product utilization in the pharmaceutical industry, the widespread product adoption for manufacturing fiberglass, and extensive research and development (R&D) activities represent some of the key factors driving the market.
- Boric acid B(OH)3 is a colorless or white crystalline compound that occurs naturally or is produced artificially from borax. It is also known as acidum boricum, hydrogen borate, boracic acid, and orthoboric acid. It is soluble in water and does not have any characteristic odor. Boric acid yields various borate anions and salts and can react with alcohols to form borate esters. It is widely used in many chemical products as an antiseptic, insecticide, flame retardant, neutron absorber, or precursor. It is also used to manufacture cosmetics, cement, pottery, enamels, glazes, and artificial gems and in tanning, printing, dyeing, painting, and photography. It is a weak acid that exhibits antiviral, antifungal, and antiseptic properties. As a result, boric acid finds extensive applications across the pharmaceuticals, agricultural, chemical processing, building and construction industries.
Boric Acid Market Trends:
- The increasing product demand in the pharmaceutical industry across the globe is one of the key factors driving the market growth. Boric acid is used in treating vaginal yeast infections and ear infections in animals and humans due to its antibacterial and antifungal properties. In line with this, the widespread product utilization for external applications, including eye disinfectants, contact lens solutions, anti-aging preparations, and baby powders, is acting as another growth-inducing factor. Moreover, the increasing application of boric acid in agricultural chemicals as well as in coal-fired power plants, as it is an essential ingredient in pesticides used against spiders, mites, and algae, is favoring the market growth. Apart from this, the introduction of new advanced methods that helps in producing boric acid without any harmful waste material and offers an alternative process to commercial production methods is providing an impetus to the market growth. Additionally, the increasing product utilization in manufacturing fiberglass and specialty glass, as it offers chemical and heat resistance, transparency, and brightness to glass and assists in reducing melting point, viscosity, and increasing breakage index, is facilitating the market growth. Furthermore, the widespread product adoption as a nutritional supplement and fortifying agent in processed food is positively influencing the market growth. Other factors, including significant growth in the construction industry, increasing agricultural activities and extensive research and development (R&D) activities, are anticipated to drive the market growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each segment of the global boric acid market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on purity, application, distribution channel, and end user.
Purity Insights:
- <99%
- ≥99%
- The report has provided a detailed breakup and analysis of the boric acid market based on purity. This includes <99% and ≥99%. According to the report, ≥99% represented the largest segment.
Application Insights:
- Flame Retardants
- Ceramics & Fiberglass
- Wood Preservatives
- Nutritional Supplements
- Pest Control
- Others
- The report has provided a detailed breakup and analysis of the boric acid market based on the application. This includes flame retardants, ceramics and fiberglass, wood preservatives, nutritional supplements, pest control, and others. According to the report, ceramics and fiberglass represented the largest segment.
Distribution Channel Insights:
- Wholesale
- E-Commerce
- Retail Stores
- Supermarkets and Hypermarkets
- Independent Stores
- Others
- The report has provided a detailed breakup and analysis of the boric acid market based on the distribution channel. This includes wholesale, e-commerce, retail stores, supermarkets and hypermarkets, independent stores, and others. According to the report, wholesale represented the largest segment.
End User Insights:
- Pharmaceuticals
- Agricultural
- Chemical Processing
- Building & Construction
- Nuclear
- Others
- The report has provided a detailed breakup and analysis of the boric acid market based on the end user. This includes pharmaceuticals, agricultural, chemical processing, building and construction, nuclear, and others. According to the report, pharmaceuticals represented the largest segment.
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
- The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for boric acid. Some of the factors driving the Asia Pacific boric acid market included significant growth in the construction industry, rising applications of fiberglass, and extensive research and development (R&D) activities.
Competitive Landscape:
- The report has also provided a comprehensive analysis of the competitive landscape in the global boric acid market. Detailed profiles of all major companies have also been provided. Some of the companies covered include 3M Company, Avantor Inc., Eti Maden, Gujarat Boron Derivatives Pvt. Ltd., Indo Borax & Chemicals Limited, Minera Santa Rita S.R.L., Organic Industries Pvt. Ltd., Quiborax SA, SCL Italia S.p.A., Singhania International Limited, Sociedad Industrial Tierra S.A., The Chemical Company, Tomiyama Pure Chemical Industries Ltd., U.S. Borax Inc. (Rio Tinto plc), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global boric acid market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global boric acid market?
- What are the key regional markets?
- Which countries represent the most attractive boric acid markets?
- What is the breakup of the market based on purity?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on distribution channel?
- What is the breakup of the market based on the end user?
- What is the competitive structure of the global boric acid market?
- Who are the key players/companies in the global boric acid market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Boric Acid Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Purity
- 6.1 <99%
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 ≥99%
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Application
- 7.1 Flame Retardants
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Ceramics & Fiberglas
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Wood Preservatives
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Nutritional Supplements
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Pest Control
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Others
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
8 Market Breakup by Distribution Channel
- 8.1 Wholesale
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 E-Commerce
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Retail Stores
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Supermarkets and Hypermarkets
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Independent Stores
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by End User
- 9.1 Pharmaceuticals
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Agricultural
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Chemical Processing
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Building & Construction
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Nuclear
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Others
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 Drivers, Restraints, and Opportunities
- 11.1 Overview
- 11.2 Drivers
- 11.3 Restraints
- 11.4 Opportunities
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 3M Company
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 Avantor Inc.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.3 Eti Maden
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Gujarat Boron Derivatives Pvt. Ltd.
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 Indo Borax & Chemicals Limited
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.6 Minera Santa Rita S.R.L.
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Organic Industries Pvt. Ltd.
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.8 Quiborax SA
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 SCL Italia S.p.A.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 Singhania International Limited
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 Sociedad Industrial Tierra S.A.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.12 The Chemical Company
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.13 Tomiyama Pure Chemical Industries Ltd.
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio
- 15.3.15 U.S. Borax Inc. (Rio Tinto plc)
- 15.3.15.1 Company Overview
- 15.3.15.2 Product Portfolio
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.