H1 2023: Sodium Tetraborate prices exhibited fluctuating patterns in Asia Pacific region in H1 2023. During the first three months of 2023, the Asia-Pacific area experienced a continuous decline in the prices of Sodium Tetraborate. The softening of Sodium Tetraborate prices in the Asian market can be attributed to the hazy state of the downstream detergent sector and the subdued procurement behaviour of end-users. The market saw a robust supply due to heightened refinery operations and decreasing costs of upstream boric acid in Asia. Consequently, the imbalance between demand and supply contributed to a significant drop in Sodium Tetraborate prices till March 2023. In April, the Sodium Tetraborate 's price experienced a increase, followed by a decline in May and June in the Chinese market. The heightened prices in April were influenced by the high costs of upstream Boric Acid, reflecting a constrained supply in the market. The upturn in demand from downstream construction industries, driven by the recovery of the Chinese economy, contributed to the April price surge. However, the subsequent decrease in May and June was attributed to lacklustre demand from various end-user sectors, including cosmetics, agriculture, and detergent industries. The market faced bearish demand and limited trading activities amid a gloomy global economic outlook. Diminished inquiries from the domestic market resulted in product stockpiling, further depreciating costs. A parallel market trend was observed in India, where prices consistently declined till June 2023.
The global Sodium Tetraborate market stood at approximately 1580 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.85% during the forecast period until 2032.
Sodium tetraborate, commonly known as borax, boasts a diverse range of applications across industries owing to its distinctive chemical composition Na₂[B₄O₅(OH)₄]·8H₂O. Found as a fundamental ingredient in household cleaning products like laundry detergents, its efficacy as a stain remover and cleaning agent is well recognized. In pest control, sodium tetraborate acts as an insecticide, disrupting the digestive systems of ants and cockroaches. Its utility extends to metallurgy, where it serves as a flux in welding processes, enhancing metal flow and weld quality. In the production of textiles, wood, and cellulose-based materials, sodium tetraborate plays a crucial role as a flame retardant, elevating fire resistance. Moreover, it finds application in gold extraction, lowering metal melting points and facilitating impurity separation. Functioning as a wood preservative, sodium tetraborate safeguards against decay and insect infestation. Laboratories utilize it in crafting buffer solutions to maintain stable pH levels in various chemical and biochemical applications. Contributing to the thermal and chemical resistance of glass and ceramics, sodium tetraborate is pivotal in their production. While less common, its medical exploration includes potential applications in eye treatments and arthritis therapy, underscoring its multifaceted significance across diverse sectors.
Borax, or sodium tetraborate, emerges as a significant market driver in the laundry industry. Its efficacy in stain removal, laundry boosting, and deodorizing positions it as a sought-after component, enhancing the overall performance of laundry detergents. As a fabric softener, borax addresses consumer preferences for softened water, thereby influencing market demand. Its role in preserving colors and preventing mildew aligns with growing concerns for garment longevity and freshness. The versatile applications and consumer appeal of borax in laundry underscore its pivotal role as a driving force in the laundry chemical market. The demand for sodium tetraborate (borax) is driven by its widespread use in personal care products, including cosmetics, skincare, bath products, shampoos, deodorants, and mouthwash. Its water-softening and emulsifying properties make it a key ingredient contributing to formulation stability, texture improvement, and enhanced cleansing properties in these products. Adherence to regulated concentrations is crucial to ensuring product safety and compliance, making sodium tetraborate a significant factor influencing the personal care market. These diverse drivers underscore sodium tetraborate's versatile significance across industries, propelling its continued market growth. The global Sodium Tetraborate market size is anticipated to reach nearly 2500 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Sodium Tetraborate. The Asia Pacific region is strategically positioned for Sodium Tetraborate market dominance, driven by key determinants. Abundant borate reserves ensure a stable and cost-effective raw material supply, aligning with the region's rapid industrialization and economic growth. Increased demand in manufacturing, construction, and agriculture sectors further strengthens the market's foundation. The flourishing personal care and cosmetics industry benefits from a growing population and rising disposable income, contributing to heightened Sodium Tetraborate demand. In agriculture, Sodium Tetraborate's role as a micronutrient in fertilizers aligns with the region's significant agricultural activities. Geographically, the Asia Pacific's strategic location facilitates efficient distribution to emerging markets and manufacturing hubs. Government support, technological advancements, and the compound's diverse applications amplify the region's competitive edge in the Sodium Tetraborate market, positioning it as a focal point for industry leadership.
Based on the end-user industry, the global Sodium Tetraborate market is divided into Detergent, Personal Care & Cosmetic, Agrochemical, Pharmaceutical, and Others. However, Detergent industry dominates the global Sodium Tetraborate market followed by Personal Care & Cosmetic industry.
Major players in the Global Sodium Tetraborate market are Orocobre, Eti Maden, US Borax, and FMC Corporation. Borax Europe Limited, Rio Tinto Borates, Liaoning Pengda Technology Co., Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Sodium Tetraborate which covers production, demand and supply of Sodium Tetraborate market in the globe.
• To analyse and forecast the market size of Sodium Tetraborate
• To classify and forecast Global Sodium Tetraborate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Sodium Tetraborate market in the globe.
To extract data for Global Sodium Tetraborate market, primary research surveys were conducted with Sodium Tetraborate 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 Sodium Tetraborate market over the coming years.
ChemAnalyst calculated Sodium Tetraborate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Sodium Tetraborate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Sodium Tetraborate manufacturers and other stakeholders
• Organizations, forums and alliances related to Sodium Tetraborate 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 Sodium Tetraborate 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 Sodium Tetraborate 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 2022
1580 thousand tonnes
Market size Volume in 2032
2500 thousand tonnes
Growth Rate
CAGR of 4.85% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
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.
Segments covered
By End-Use: (Detergent, Personal Care & Cosmetic, Agrochemical, Pharmaceutical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Sodium Tetraborate in terms of volume in 2022?
Ans:
The global market size of Sodium Tetraborate had reached approximately 990 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Sodium Tetraborate?
Ans:
Asia Pacific region is the leading consumer of Sodium Tetraborate globally.
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