Borates Market: Global Industry Analysis and Forecast (2024-2030) by Product Type, Application, and Region

Borates Market size was valued at US$ 1.18 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 4.68% from 2024 to 2030, reaching nearly US$ 1.62 Bn.
Borates Market Overview:
Borates Market is expected to reach US$ 1.55 Bn. by 2030. Borates are minerals that naturally contain boron, which is the fifth element on the Periodic Table. The segments of the Borates market are examined in this report (Product Type, Application, and Region). This report provides in-depth analysis of the leading market players and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It offers a comprehensive examination of today's rapid advancements in all industry sectors. The major data analysis for the historical period from 2018 to 2023 is shown using facts and numbers, visuals, and presentations. This report looks at the market drivers, restraints, opportunities, and challenges for Borates. The investment recommendations in this MMR report are based on a careful assessment of the current competitive landscape in the Borates market.To know about the Research Methodology :- Request Free Sample Report
Borates Market Dynamics:
Boron deficiency in the soil limits crop output and food quality all around the world. Raising food production is crucial in light of an increasing population and shrinking arable land. Government programmes and incentives in India encourage farmers to use micronutrients like boron to increase productivity. South America is likewise becoming a major producer location in the world (soybeans, corn, and oil palm).

With prospects in the architecture and construction, electrical and electronics, pharmaceutical, consumer, and agriculture industries, the future of the boron market is bright. The growing demand for glass and ceramics in the building and construction industry, development in the pharmaceutical packaging business, and rising consumption of micronutrient fertilisers are all driving the borates market.

The use of boron for nuclear applications and lubricating additives are two emerging developments that have a direct impact on the dynamics of the Borates market. These are the key factors that are expected to drive the growth of the global Borates market during the forecast period.

Boron has the ability to increase testosterone levels in males, which is a quality that male bodybuilders and athletes are increasingly utilising. Although some weight lifters prefer to take its supplements to boost their testosterone levels, no clear evidence or explanation of the mechanism by which it makes them more successful has been found.
Borates Market Segment Analysis:
Based on the Product Type, the market is segmented into Boric Acid, and Borax. Boric Acidsegment is expected to hold the largest market share of xx% by 2030. Boric Acid aids in maintaining a healthy acid balance in the vaginal area. It's used to treat vaginal yeast infections and reduce symptoms including itching and burning.

Boric acid is a good cleaner for all kinds of mould and insects like ants, cockroaches, silverfish, fleas, and other pests. Boric acid is also utilised in the leather business, and it is used with denatured alcohol in the jewellery sector.

Borax segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Borax is an effective therapy for arthritis. Traditional medicine, such as Ayurveda, has long recognised its anti-inflammatory properties, and experts are now investigating its potential for treating inflammatory diseases like rheumatoid arthritis (RA). Arthritis patients had reduced boron amounts in their bones, synovial fluid, and femur heads. As a result, Borax can be used to combat this. Borax ensures that calcium levels are optimally maintained and utilised, preventing arthritis.

The laundry booster '20 Mule Team Borax,' powdered hand soap 'Boraxo,' and several tooth bleaching solutions all contain borax. Borate ions (usually supplied as boric acid) are used in biochemical and chemical laboratories to generate buffers, such as TBE buffer or the newer SB buffer or BBS buffer in coating operations, for example for DNA and RNA gel electrophoresis.

Aside from the lungs, Borax affects the urinary bladder, uterus, and stomach. As a result, its antibacterial properties can be used to treat urinary infections. Urinary dysfunction, which involves the development of stones in the urine and is often painful, is treated with Chinese herbal therapy in a similar way. Borax is recommended by homoeopathy for cystitis, a disorder that causes a strong pain in the urinary entrance and a general aching in the bladder, giving the impression that urine is being retained.

Based on the Application, the market is segmented into Glass, Ceramics, Detergents, Agriculture, and Others. Glass segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Thermal shock resistance, chemical resistance, aqueous endurance, and physical strength are just a few of the characteristics that borosilicate glass has. Examples of applications include oven-to-table cookware, laboratory equipment, medicinal containers, lighting lenses, and tubing.

To considerably lower melting temperature and viscosity, prohibit crystallisation of the glass, control temperature increases, and inhibit devitrification, glass producers now add 5-20 percent boric oxide to the silica basis.
Borates Market Regional Insights:
Asia Pacific region is expected to dominate the Borates Market during the forecast period 2024-2030. The Asia Pacific region is expected to hold the largest market share of xx% by 2030. Asia Pacific was the world's largest user of borate. Due to the presence of various electric and electronic firms, as well as agricultural products, Asia Pacific is expected to have a strong demand for borate. China had the highest demand for borate in Asia Pacific, followed by India, Japan, and Indonesia. The demand for borate and related products is increasing, particularly in Asia Pacific countries like China and India. The demand for borate is expected to rise during the forecast period as these regions' economies develop and the electronics sector grows.

The objective of the report is to present a comprehensive analysis of the Global Borates Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Borates Market dynamic, and structure by analyzing the market segments and projecting the Global Borates Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Borates Market make the report investor’s guide.
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Borates Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 1.18 Bn.


Forecast Period 2024 to 2030 CAGR:
4.68%
Market Size in 2030:
US $ 1.62 Bn.


 Segments Covered:
by Product Type
Boric Acid
Borax


by Application
Glass
Ceramics
Detergents
Agriculture
Others



Borates Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Borates Market Key Players
1. Searles Valley Minerals
2. Sociedad Industrial Tierra
3. Etimine
4. Borax Argentina S.A
5. Rio Tinto
6. Minera Santa Rita SRL (MSR)
7. Inkabor
8. Jinma Boron
9. Liaoning Shougang
10. Quiborax
11. Ganesh Chem Tech Pvt Ltd
12. Transpek Silox Ind Limited
13. Nithyasri Chemicals
14. Parshwamani Metals
15. Global Pharma Chem
16. A. B. Enterprises

Frequently Asked Questions:

1. Which region has the largest share in Global Borates Market?
Ans: Asia Pacific region held the highest share in 2023.

2. What is the growth rate of Global Borates Market?
Ans: The Global Borates Market is growing at a CAGR of 4.68% during forecasting period 2024-2030

3. What is scope of the Global Borates Market report?
Ans: Global Borates Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Borates Market?
Ans: The important key players in the Global Borates Market are – Searles Valley Minerals, Sociedad Industrial Tierra, Etimine, Borax Argentina S.A, Rio Tinto, Minera Santa Rita SRL (MSR), Inkabor, Jinma Boron, Liaoning Shougang, Quiborax, Ganesh Chem Tech Pvt Ltd, Transpek Silox Ind Limited, Nithyasri Chemicals, Parshwamani Metals, Global Pharma Chem, A. B. Enterprises

5. What is the study period of this Market?
Ans: The Global Borates Market is studied from 2023 to 2030