According to a new market report published by Lucintel, the future of the boron market looks promising with opportunities in the building and construction, electrical and electronics, pharmaceutical, consumer, and agriculture industries. The boron market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $1.7 billion by 2025 with a CAGR of 2% to 4% from 2020 to 2025. The major drivers for this market are increasing demand for glass and ceramics in the building and construction industry, growth in the pharmaceutical packaging market, and the growing consumption of micronutrient fertilizers.
Browse 129 market data tables and 144 figures spread through 202 pages and in-depth TOC on “Boron Market"
To download report brochure, please go to https://www.lucintel.com/boron-market.aspx and click "report brochure" tab from the menu.
In this market, boron is used as fillers and performance additives in various applications, such as glass, ceramic, fertilizer, and detergent. Lucintel forecasts that glass will remain the largest segment and it is also expected to witness the highest growth over the forecast period. Stringent government regulation towards energy efficiency and carbon emission is driving the demand for glass wool and E-glass (fiberglass) in various end use industries.
Within the boron market, building and construction will remain the largest market by value and volume due to increasing demand for glass wool insulation and ceramic tile in residential and commercial buildings. Pharmaceutical is expected to witness the highest growth during the forecast period due to the growing preference for borosilicate glass in the pharmaceutical packaging industry.
APAC will remain the largest region and it is also expected to witness the highest growth over the forecast period due to growth in building and construction activities and increasing healthcare expenditure.
Emerging trends, which have a direct impact on the dynamics of the industry, include use of boron for nuclear applications and lubrication additives. Eti Maden, Rio Tinto, American Borate, Boron Specialist, Gremont Chemicals, and Searles Valley Minerals are some of the major boron manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the boron market by end use industry, application, source, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Boron Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the boron market by source, application, end use industry, and region as follows:
By Application [Kilotons and $M shipment analysis from 2014 to 2025]:
Glass
Borosilicate Glass
Fiberglass (E-Glass)
Glass wool
Ceramic
Fertilizer
Detergent
Others
By End Use Industry [Kilotons and $M shipment analysis from 2014 to 2025]:
Building and Construction
Electrical & Electronics
Pharmaceutical
Consumer
Agriculture
Others
By Source [Kilotons and $M shipment analysis from 2014 to 2025]:
Mining
Salt Lake Source and Others
By Region [Billion Units and $B shipment analysis for 2014 to 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
The Rest of the World
This 202-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/boron-market.aspx or helpdesk@lucintel.com.
About Lucintel
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