The global Boron market stood at approximately 3.4 million tonnes in 2023 and is anticipated to grow at a CAGR of 3.1% during the forecast period until 2034. Boron, a highly prized mineral, finds application across a diverse range of products spanning cookware, medicine, nuclear waste containment, and space exploration. Its compounds, predominantly utilized in borosilicate glass items, also serve roles in agriculture, fire retardants, and the formulation of soaps and detergents.
Boron minerals are integral to a multitude of industrial applications, each leveraging the unique properties of boron compounds for various purposes. In the realm of glass and ceramics production, boron compounds serve as crucial additives, facilitating lower melting points and enhancing thermal and chemical resistance in the final products. In agriculture, boron emerges as a vital micronutrient essential for optimal plant growth, with its application as a fertilizer correcting boron-deficient soils, thereby boosting both crop yield and quality. Furthermore, boron compounds find utility as flame retardants, where they are employed in plastics, textiles, and other materials to mitigate flammability risks and bolster fire safety measures. Borax, a ubiquitous boron mineral, assumes a pivotal role in household cleaning products and laundry detergents, owing to its efficacy as a cleaning agent. Metallurgical applications also benefit from boron's presence, as it acts as an alloying agent, enhancing the mechanical properties of steels and other metals. Additionally, in the realm of nuclear energy, boron compounds play a critical role as neutron absorbers within nuclear reactors, ensuring safety and control mechanisms vital for efficient operations. Additionally, boron plays key roles in specialized alloys, aiding in the cementation of iron, acting as an oxygen scavenger for various metals like copper, and being incorporated into fibers and filaments for composites with metals or ceramics.
The boron market is shaped by a number of factors, including industrial demand. Key drivers within this dynamic landscape include the burgeoning demand across various sectors such as glass manufacturing, agriculture, ceramics, and electronics, particularly in emerging economies. Boron's pivotal role in the production of borosilicate glass, vital for laboratory and kitchenware as well as industries requiring high-temperature resistance, propels its market growth alongside the expansion of construction and automotive sectors. Furthermore, the indispensable nature of boron as a micronutrient for plant growth underscores its significance in agriculture, where increasing global population pressures and the quest for heightened productivity fuel the demand for boron-containing fertilizers, especially in regions afflicted by soil boron deficiencies. These trends collectively underscore the multifaceted nature of boron's market dynamics, highlighting its indispensability across diverse industries and its pivotal role in addressing contemporary challenges in agriculture and infrastructure development. The global Boron market is likely to reach approximately 4.8 million tonnes in 2034.
Geographically, Asia Pacific is likely to dominate the global Boron market. Rapid industrialization and urbanization in the region fuel significant demand across diverse sectors such as glass manufacturing, agriculture, and electronics. The burgeoning construction and automotive industries further amplify this demand for boron-containing materials like borosilicate glass, fiberglass, and ceramics. Additionally, the region's large and growing population necessitates enhanced agricultural productivity, with boron playing a crucial role in soil fertility and plant growth. Technological advancements, particularly in electronics and renewable energy sectors, further bolster Asia Pacific's position, fostering the development of innovative applications for boron compounds. Moreover, governments' substantial investments in infrastructure development, coupled with the proximity to abundant boron reserves in countries like China and Turkey, provide a strategic advantage, ensuring a steady supply and reinforcing Asia Pacific's dominant presence in the global boron market.
Based on the end-user applications, the global Boron market is divided into Glass, Ceramics, Agriculture, Detergent, and Others. Among these, Glass is the major segment and held about 52% of the global Boron market in 2023. Also, Fertilizers is the second biggest application of Boron.
Significant players in the Global Boron market are 3M, Allkem Limited, Boron Molecular, ETI Maden, Gujarat Boron Derivatives Pvt. Ltd, Minera Santa Rita SRL (MSR), Qinghai Zhongtian Boron Lithium Mining Co. Ltd, Quiborax, Rio Tinto, SB Boron Corporation, Searles Valley Minerals, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Boron which covers production, demand and supply of Boron market in the globe.
• To analyse and forecast the market size of Boron
• To classify and forecast Global Boron market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Boron market in the globe.
To extract data for Global Boron market, primary research surveys were conducted with Boron manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Boron market over the coming years.
ChemAnalyst calculated Boron demand across the globe by analyzing the volume of Boron consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Boron manufacturers and other stakeholders
• Organizations, forums and alliances related to Boron distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Boron manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Boron market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
3.4 million tonnes
Market size Volume in 2034
4.8 million tonnes
Growth Rate
CAGR of 3.1% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Glass, Ceramics, Agriculture, Detergent, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Boron in terms of volume in 2023?
Ans:
The global market size of Boron has reached approximately 3.4 million tonnes in 2023.
Q2.
Which region is the leading consumer of Boron?
Ans:
The Asia Pacific region is the leading consumer of Boron globally.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database) Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.