The report of Boric Acid market, By End-user (Tiles, Ceramics, Fiberglass, Flame Retardants, Agriculture, Wood Preservation, Pharmaceuticals, Cosmetics, and Others) By Applications (Industrial and Household) and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ X.44 Bn by 2027, at a CAGR of X.4 % during a forecast period.
Application segment is expected to grow at the highest CAGR of XX% during the forecast period.
Booming in the growth in the electrical and electronics industries sector is expected to drive the industrial sub-segment growth. The same targeted material used in the manufacture of textile fibre glasses, soldering operations, and a huge amount of lubricant production is boosting the demand of the product by the industrial sector, simultaneously boosting the global boric acid market in terms of value and volume. On the other hand, the collective use of boric acid in pharmaceuticals, cosmetics, fiberglass, insecticides, and power generation is contributing to the growth of industrial sector boric acid.
The Asia Pacific region dominated the Boric Acid Market in 2019.
The Asia Pacific remains the fastest-growing region in the market during the forecasted period, owing to a rise in the individual disposable income mainly in developing countries including India and China. China is expected to face a major economical drop in the coming years as China is the centerhub for the COVID-19 outbreak and fluctuation the market size in terms of value and volume can be expected.
Major Key players executing in the Global Boric Acid Market are 3M Company, Avantor Performance Materials, LLC, Eti Maden, Gujarat Boron Derivatives, Minera Santa Rita S.R.L., Organic Industries Pvt. Ltd, QUIBORAX S.A, Russian Bor Concern OJSC, TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD, U.S. Borax, Minera Santa Rita, Indo Borax & Chemicals Limited
and AMERICAN BORATE COMPANY.
Maximize Market Research, a global market research with a dedicated team of specialists and, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Boric Acid Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Boric Acid Market positioning of competitors.
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