Increasing Demand for Boric Acid Likely to Drive the Boron Compounds Market in Next Few Years

Transparency Market Research Boron Compounds (Borax, Boric Acid and Others) Market for Borosilicate Glass, Fiberglass, Agriculture, Ceramics, Detergents & Soaps and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 Published Date 2014-11-26

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Increasing Demand for Boric Acid Likely to Drive the Boron Compounds Market in Next Few Years Transparency Market Research State Tower, 90, State Street, Suite 700.

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Boron Compounds Market

REPORT DESCRIPTION

Boron is a one chemical element on earth that is always found in combined states in the forms of boron compounds. These compounds are versatile in nature that makes them valuable. Fiberglass is one of the major components of the boron compound market. The expansion in the fiberglass industry is likely push the boron compound market ahead. Additionally, the development in ceramic tile industry has increased the demand for boric acid, which eventually converts into the rise in the boron compound market.

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Analyzing Boron Compound Market Boron compounds market is evaluated through three different methods: Product wise, application wise, and region wise.

The markets for boron compound are North America, Europe, Asia Pacific, and Rest of the World. Borax and boric acid as well as some others including boron oxide, sodium perborate are the main product of boron compounds.

According to applicability, boron compound market is divided into Borosilicate Glass, fiberglass, agriculture, ceramics, and detergents and soaps. Cellulose insulation, tanning, and cementation of iron are some other application of it.

Boron Compound Market - Drivers and Restraints Borax held more than 44% market share of the global boron compounds market in 2013, in terms of volume.

This segment is estimated to experience high growth in the next few years due to increase in demand from several growing end-use industries in developing economies in regions such as Asia Pacific and Latin America.

Another widely used industrial boron compound is boric acid. Heightened demand for borosilicate glass and fiberglass is expected to lead to high consumption of boric acid in the next few years. Other boron compounds such as sodium metaborate, sodium perborate, boron trifluoride, and boric oxide are used for specialty ceramics, tanning, and cellulose insulation applications.

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Boron Compounds Market

Fiberglass is the largest application, which drives the global boron compounds market. This application segment held more than 31% of the total demand for boron compounds in 2013. Fiberglass is used in the building and construction industry to construct manholes, swimming pools, utility poles, duct systems, and split control cabinets. Boron compounds are also used in the agriculture and borosilicate industries. The ceramic tile industry is likely to increase the demand for boron compounds due to their application as superior inorganic binder and flux in ceramic tile bodies.

The market for boron compounds is expected to grow considerably in the near future. However, highly concentrated boron ore reserves and presence of substitutes in high quantity could create hindrances in the development of this market. Chemical compounds such as lithium and chlorine can be employed as alternatives of boron compounds for specific applications.

Volume wise, Asia Pacific accounted for over 54% share in 2013. This region was the biggest market for boron compounds in the world, followed by Europe and North America. Fiberglass was the highest demanded product in Asia Pacific due to the development in the building and construction industry. North America and Europe are expected to experience moderate growth in terms of volume in the next six years.

The thermoplastic and medical industries are estimated to cater for significant opportunity for the development of the boron compounds market.

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Major Players of the Market

The Boron compound market is largely concentrated. The main companies of the market are AkzoNobel N.V., Rose Mill Company, Gujarat Boron Derivatives Private Limited, Boron Compounds, Ltd., ESK Ceramics GmbH & Co. KG, Borax Morarji, Ltd., BASF SE, Tomiyama Pure Chemical Industries, Ltd., Russian Bor, Searles Valley Minerals, Inc., Mizushima Ferroalloy Co., Ltd., Eti Maden, and Rio Tinto Group.

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Boron Compounds Market

The demand for fiberglass and borosilicate glass are high in the market, which is drawing focus of major companies on the development of boron compounds.

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