Boron Market is anticipated to reach US$ 2.89 Bn. by 2030 from US$ 2.15 Bn. in 2023 at a CAGR of 4.3 % during a forecast period.Market Overview:
Boron is a chemical element with the atomic number 5 and the symbol B. Boron is formed as a result of cosmic ray spallation and supernovae. Boron is a rare element found in the solar system and the earth's crust. Boron accounts for about 0.001% of total earth weight. Boron is a naturally occurring chemical that is concentrated on the planet due to its water solubility. Boron is mined industrially in the form of evaporates such as borax and kernite. The greatest known boron is discovered in Turkey, which also happens to be the top producer of boron in the world.To know about the Research Methodology :- Request Free Sample Report
Boron Market Dynamics
Boron's market growth is being driven by demand in the building and infrastructure industries. Expanding populations and rising desire for contemporary conveniences are propelling the boron market in a positive direction. Simultaneously increasing individual discretionary income and providing a significant advantage to the boron market. The fiberglass industry is the most important sector for the use of boron in production. Boron market growth is expected to be driven by rising demand for electrical devices and increased penetration of fiberglass in areas formerly dominated by concrete and steel. Fiberglass penetration in wind turbine blades is also expected to have a beneficial impact on boron market growth. A rise in construction investment, which is expected to increase demand for fiberglass for community structures such as bridges and roads, is expected to present a new opportunity for the global market. Boron shortage, highly concentrated deposits, and a complicated production process may provide a challenge to global market participants. Restraints: There has been an increase in concerns about the compound's scarcity due to its rapid usage in a variety of applications and restricted supply. There is a lot of ambiguity about how long the mineral is expected to be available in the future. As a result, to ensure the compound's availability for future generations, consumption is expected to be reduced in the forecast period, which might influence market growth.Boron Market Segmentation Analysis
By Source, The mining sector dominates the boron source segment. The majority of borate deposits are mined open-pit across the world using backhoe equipment or a truck and shovel. Death Valley is the sole underground mining firm in the United States. Boron Mining Segment is expected to reach roughly 1.89 billion in the forecast period. By Application, The market is divided into Glass, Ceramic, fertilizers, Detergent, and Others. Because of the vast use of glass, the glass market dominates the boron market. Boron is responsible for the mechanical strength of glass fiber as well as heat resistance, insulation, chemical resistance, and water resistance. Due to the high consumption and widespread use of electronics and insulation, glass accounts for about half of the boron market.Fertilizers are the market's second most important boron application. Fertilizers are a vital requirement of the agricultural industry, accounting for 17% of total world use. Boron is required for plant reproduction. Flowering, pollen generation, germination, and fruit development drive the process. Boron is a non-substitution micronutrient that serves as a source of energy for plants and aids in the mobilization of sugar leaves to the root system. Boron Market Regional Insight Due to enormous reserves in Turkey, which together account for more than one-third of the entire resource throughout the globe, Europe was the leading regional boron market in terms of supply. Latin America and North America came in second and third, respectively. Due to the increased demand for fiberglass in numerous industries such as electrical devices and automobiles, Asia Pacific is the largest boron-consuming region. The Asia Pacific region dominates the market, accounting for 56% of the worldwide boron market. The Eti Maden Company of Turkey controls more than half of the global market. Because of the area's booming building site, vehicle, and electronic sectors, Asia Pacific is the region with the highest consumption. In terms of consumption, China is the world's largest market for boron. Turkey is the world leader in the production of boron and its derivatives. Because China is the epicentre of building activity and the world's largest manufacturer of textile grade material, boron-concentrated markets in the United States and Turkey are concentrating their attention on China to accelerate their growth. Due to high production costs, Europe, on the other hand, is expected to grow slowly. North America is the market's second most important region for boron. Rio Borates is a US-based corporation that controls around 30% of the global market. Report Objectives: Landscape analysis of the Boron Market competitive benchmarking Past and current status of the industry with the forecasted market size and trends Evaluation of potential key players that include market leaders, followers, and new entrants Technology trends Potential impact of micro-economic factors of the market External and Internal factors affecting market have been analyzed The report also helps in understanding the Boron Market dynamics, structure by analysing the market segments and project the Boron Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Boron Market make the report investor’s guide.
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Global Boron Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 2.15 Bn. Forecast Period 2024 to 2030 CAGR: 4.3% Market Size in 2030: US $ 2.89 Bn. Segments Covered: by Source Mining Salt Lake Source& Others by Application Glass Ceramic Fertilizer Detergent Others by End-user Industry Agriculture Transportation Building and Construction Detergents Healthcare Electronics Other End-use Industries 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)Boron Market, Key Players
1. 3M Technical Ceramics 2. Borax Argentina S.A. 3. Boron Molecular 4. Dalian Jinma Boron Technology Group Co. Ltd. 5. Eti Maden 6. Manufacturas Los and es 7. Minera Santa Rita 8. Quiborax 9. Rio Tinto 10. Searles Valley Minerals 11. Dalian Jinma Boron Technology Group Co. Ltd. 12. SB Boron 13. Ceradyne, Inc. 14. Boron Specialities LLC. 15. Mudanjiang Jingangzuan Boron Carbide 16. Manufacturas Los Andes Frequently Asked Questions 1. What is the projected market size & growth rate of Market? Ans- Boron Market was valued at USD 2.15 billion in 2023 and is projected to reach USD 2.89 billion by 2030, growing at a CAGR of 4.3 % during the forecast period. 2. What are the key driving factor for the growth of Market? Ans- Boron's market growth is being driven by demand in the building and infrastructure industries. 3. Which Region accounted for the largest Market share? Ans- the Asia Pacific region dominates the market, accounting for 56% of the worldwide boron market. 4. What makes Asia Pacific a Lucrative Market for Market? Ans- Because of the area's booming building site, vehicle, and electronic sectors, Asia Pacific is the region with the highest consumption. 5. What are the top players operating in Market? Ans- 3M Technical Ceramics, Borax Argentina S.A., Boron Molecular, Dalian Jinma Boron Technology Group Co. Ltd., and Eti Maden.
1. Boron Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Boron Market: Dynamics 2.1. Boron Market Trends by Region 2.1.1. North America Boron Market Trends 2.1.2. Europe Boron Market Trends 2.1.3. Asia Pacific Boron Market Trends 2.1.4. Middle East and Africa Boron Market Trends 2.1.5. South America Boron Market Trends 2.2. Boron Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Boron Market Drivers 2.2.1.2. North America Boron Market Restraints 2.2.1.3. North America Boron Market Opportunities 2.2.1.4. North America Boron Market Challenges 2.2.2. Europe 2.2.2.1. Europe Boron Market Drivers 2.2.2.2. Europe Boron Market Restraints 2.2.2.3. Europe Boron Market Opportunities 2.2.2.4. Europe Boron Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Boron Market Drivers 2.2.3.2. Asia Pacific Boron Market Restraints 2.2.3.3. Asia Pacific Boron Market Opportunities 2.2.3.4. Asia Pacific Boron Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Boron Market Drivers 2.2.4.2. Middle East and Africa Boron Market Restraints 2.2.4.3. Middle East and Africa Boron Market Opportunities 2.2.4.4. Middle East and Africa Boron Market Challenges 2.2.5. South America 2.2.5.1. South America Boron Market Drivers 2.2.5.2. South America Boron Market Restraints 2.2.5.3. South America Boron Market Opportunities 2.2.5.4. South America Boron Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Boron Industry 2.8. Analysis of Government Schemes and Initiatives For Boron Industry 2.9. Boron Market price trend Analysis (2023-2030) 2.10. Boron Market Trade Analysis 2.10.1. Global Import Analysis 2.10.1.1. Top Importer of Boron 2.10.2. Global Export Analysis 2.10.2.1. Top Exporter of Boron 2.11. Boron Production Analysis 2.12. The Global Pandemic Impact on Boron Market 3. Boron Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value and Volume) 2023-2030 3.1. Boron Market Size and Forecast, by Source (2023-2030) 3.1.1. Mining 3.1.2. Salt Lake Source& Others 3.2. Boron Market Size and Forecast, by Application (2023-2030) 3.2.1. Glass 3.2.2. Ceramic 3.2.3. Fertilizer 3.2.4. Detergent 3.2.5. Others 3.3. Boron Market Size and Forecast, by End-user Industry (2023-2030) 3.3.1. Agriculture 3.3.2. Transportation 3.3.3. Building and Construction 3.3.4. Detergents 3.3.5. Healthcare 3.3.6. Electronics 3.3.7. Other End-use Industries 3.4. Boron Market Size and Forecast, by Region (2023-2030) 3.4.1. North America 3.4.2. Europe 3.4.3. Asia Pacific 3.4.4. Middle East and Africa 3.4.5. South America 4. North America Boron Market Size and Forecast by Segmentation (by Value and Volume) 2023-2030 4.1. North America Boron Market Size and Forecast, by Source (2023-2030) 4.1.1. Mining 4.1.2. Salt Lake Source& Others 4.2. North America Boron Market Size and Forecast, by Application (2023-2030) 4.2.1. Glass 4.2.2. Ceramic 4.2.3. Fertilizer 4.2.4. Detergent 4.2.5. Others 4.3. North America Boron Market Size and Forecast, by End-user Industry (2023-2030) 4.3.1. Agriculture 4.3.2. Transportation 4.3.3. Building and Construction 4.3.4. Detergents 4.3.5. Healthcare 4.3.6. Electronics 4.3.7. Other End-use Industries 4.4. North America Boron Market Size and Forecast, by Country (2023-2030) 4.4.1. United States 4.4.1.1. United States Boron Market Size and Forecast, by Source (2023-2030) 4.4.1.1.1. Mining 4.4.1.1.2. Salt Lake Source& Others 4.4.1.2. United States Boron Market Size and Forecast, by Application (2023-2030) 4.4.1.2.1. Glass 4.4.1.2.2. Ceramic 4.4.1.2.3. Fertilizer 4.4.1.2.4. Detergent 4.4.1.2.5. Others 4.4.1.3. United States Boron Market Size and Forecast, by End-user Industry (2023-2030) 4.4.1.3.1. Agriculture 4.4.1.3.2. Transportation 4.4.1.3.3. Building and Construction 4.4.1.3.4. Detergents 4.4.1.3.5. Healthcare 4.4.1.3.6. Electronics 4.4.1.3.7. Other End-use Industries 4.4.2. Canada 4.4.2.1. Canada Boron Market Size and Forecast, by Source (2023-2030) 4.4.2.1.1. Mining 4.4.2.1.2. Salt Lake Source& Others 4.4.2.2. Canada Boron Market Size and Forecast, by Application (2023-2030) 4.4.2.2.1. Glass 4.4.2.2.2. Ceramic 4.4.2.2.3. Fertilizer 4.4.2.2.4. Detergent 4.4.2.2.5. Others 4.4.2.3. Canada Boron Market Size and Forecast, by End-user Industry (2023-2030) 4.4.2.3.1. Agriculture 4.4.2.3.2. Transportation 4.4.2.3.3. Building and Construction 4.4.2.3.4. Detergents 4.4.2.3.5. Healthcare 4.4.2.3.6. Electronics 4.4.2.3.7. Other End-use Industries 4.4.3. Mexico 4.4.3.1. Mexico Boron Market Size and Forecast, by Source (2023-2030) 4.4.3.1.1. Mining 4.4.3.1.2. Salt Lake Source& Others 4.4.3.2. Mexico Boron Market Size and Forecast, by Application (2023-2030) 4.4.3.2.1. Glass 4.4.3.2.2. Ceramic 4.4.3.2.3. Fertilizer 4.4.3.2.4. Detergent 4.4.3.2.5. Others 4.4.3.3. Mexico Boron Market Size and Forecast, by End-user Industry (2023-2030) 4.4.3.3.1. Agriculture 4.4.3.3.2. Transportation 4.4.3.3.3. Building and Construction 4.4.3.3.4. Detergents 4.4.3.3.5. Healthcare 4.4.3.3.6. Electronics 4.4.3.3.7. Other End-use Industries 5. Europe Boron Market Size and Forecast by Segmentation (by Value and Volume) 2023-2030 5.1. Europe Boron Market Size and Forecast, by Source (2023-2030) 5.2. Europe Boron Market Size and Forecast, by Application (2023-2030) 5.3. Europe Boron Market Size and Forecast, by End-user Industry (2023-2030) 5.4. Europe Boron Market Size and Forecast, by Country (2023-2030) 5.4.1. United Kingdom 5.4.1.1. United Kingdom Boron Market Size and Forecast, by Source (2023-2030) 5.4.1.2. United Kingdom Boron Market Size and Forecast, by Application (2023-2030) 5.4.1.3. United Kingdom Boron Market Size and Forecast, by End-user Industry(2023-2030) 5.4.2. France 5.4.2.1. France Boron Market Size and Forecast, by Source (2023-2030) 5.4.2.2. France Boron Market Size and Forecast, by Application (2023-2030) 5.4.2.3. France Boron Market Size and Forecast, by End-user Industry(2023-2030) 5.4.3. Germany 5.4.3.1. Germany Boron Market Size and Forecast, by Source (2023-2030) 5.4.3.2. Germany Boron Market Size and Forecast, by Application (2023-2030) 5.4.3.3. Germany Boron Market Size and Forecast, by End-user Industry (2023-2030) 5.4.4. Italy 5.4.4.1. Italy Boron Market Size and Forecast, by Source (2023-2030) 5.4.4.2. Italy Boron Market Size and Forecast, by Application (2023-2030) 5.4.4.3. Italy Boron Market Size and Forecast, by End-user Industry(2023-2030) 5.4.5. Spain 5.4.5.1. Spain Boron Market Size and Forecast, by Source (2023-2030) 5.4.5.2. Spain Boron Market Size and Forecast, by Application (2023-2030) 5.4.5.3. Spain Boron Market Size and Forecast, by End-user Industry (2023-2030) 5.4.6. Sweden 5.4.6.1. Sweden Boron Market Size and Forecast, by Source (2023-2030) 5.4.6.2. Sweden Boron Market Size and Forecast, by Application (2023-2030) 5.4.6.3. Sweden Boron Market Size and Forecast, by End-user Industry (2023-2030) 5.4.7. Austria 5.4.7.1. Austria Boron Market Size and Forecast, by Source (2023-2030) 5.4.7.2. Austria Boron Market Size and Forecast, by Application (2023-2030) 5.4.7.3. Austria Boron Market Size and Forecast, by End-user Industry (2023-2030) 5.4.8. Rest of Europe 5.4.8.1. Rest of Europe Boron Market Size and Forecast, by Source (2023-2030) 5.4.8.2. Rest of Europe Boron Market Size and Forecast, by Application (2023-2030) 5.4.8.3. Rest of Europe Boron Market Size and Forecast, by End-user Industry (2023-2030) 6. Asia Pacific Boron Market Size and Forecast by Segmentation (by Value and Volume) 2023-2030 6.1. Asia Pacific Boron Market Size and Forecast, by Source (2023-2030) 6.2. Asia Pacific Boron Market Size and Forecast, by Application (2023-2030) 6.3. Asia Pacific Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4. Asia Pacific Boron Market Size and Forecast, by Country (2023-2030) 6.4.1. China 6.4.1.1. China Boron Market Size and Forecast, by Source (2023-2030) 6.4.1.2. China Boron Market Size and Forecast, by Application (2023-2030) 6.4.1.3. China Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4.2. S Korea 6.4.2.1. S Korea Boron Market Size and Forecast, by Source (2023-2030) 6.4.2.2. S Korea Boron Market Size and Forecast, by Application (2023-2030) 6.4.2.3. S Korea Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4.3. Japan 6.4.3.1. Japan Boron Market Size and Forecast, by Source (2023-2030) 6.4.3.2. Japan Boron Market Size and Forecast, by Application (2023-2030) 6.4.3.3. Japan Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4.4. India 6.4.4.1. India Boron Market Size and Forecast, by Source (2023-2030) 6.4.4.2. India Boron Market Size and Forecast, by Application (2023-2030) 6.4.4.3. India Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4.5. Australia 6.4.5.1. Australia Boron Market Size and Forecast, by Source (2023-2030) 6.4.5.2. Australia Boron Market Size and Forecast, by Application (2023-2030) 6.4.5.3. Australia Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4.6. Indonesia 6.4.6.1. Indonesia Boron Market Size and Forecast, by Source (2023-2030) 6.4.6.2. Indonesia Boron Market Size and Forecast, by Application (2023-2030) 6.4.6.3. Indonesia Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4.7. Malaysia 6.4.7.1. Malaysia Boron Market Size and Forecast, by Source (2023-2030) 6.4.7.2. Malaysia Boron Market Size and Forecast, by Application (2023-2030) 6.4.7.3. Malaysia Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4.8. Vietnam 6.4.8.1. Vietnam Boron Market Size and Forecast, by Source (2023-2030) 6.4.8.2. Vietnam Boron Market Size and Forecast, by Application (2023-2030) 6.4.8.3. Vietnam Boron Market Size and Forecast, by End-user Industry(2023-2030) 6.4.9. Taiwan 6.4.9.1. Taiwan Boron Market Size and Forecast, by Source (2023-2030) 6.4.9.2. Taiwan Boron Market Size and Forecast, by Application (2023-2030) 6.4.9.3. Taiwan Boron Market Size and Forecast, by End-user Industry (2023-2030) 6.4.10. Rest of Asia Pacific 6.4.10.1. Rest of Asia Pacific Boron Market Size and Forecast, by Source (2023-2030) 6.4.10.2. Rest of Asia Pacific Boron Market Size and Forecast, by Application (2023-2030) 6.4.10.3. Rest of Asia Pacific Boron Market Size and Forecast, by End-user Industry (2023-2030) 7. Middle East and Africa Boron Market Size and Forecast by Segmentation (by Value and Volume) 2023-2030 7.1. Middle East and Africa Boron Market Size and Forecast, by Source (2023-2030) 7.2. Middle East and Africa Boron Market Size and Forecast, by Application (2023-2030) 7.3. Middle East and Africa Boron Market Size and Forecast, by End-user Industry (2023-2030) 7.4. Middle East and Africa Boron Market Size and Forecast, by Country (2023-2030) 7.4.1. South Africa 7.4.1.1. South Africa Boron Market Size and Forecast, by Source (2023-2030) 7.4.1.2. South Africa Boron Market Size and Forecast, by Application (2023-2030) 7.4.1.3. South Africa Boron Market Size and Forecast, by End-user Industry (2023-2030) 7.4.2. GCC 7.4.2.1. GCC Boron Market Size and Forecast, by Source (2023-2030) 7.4.2.2. GCC Boron Market Size and Forecast, by Application (2023-2030) 7.4.2.3. GCC Boron Market Size and Forecast, by End-user Industry (2023-2030) 7.4.3. Nigeria 7.4.3.1. Nigeria Boron Market Size and Forecast, by Source (2023-2030) 7.4.3.2. Nigeria Boron Market Size and Forecast, by Application (2023-2030) 7.4.3.3. Nigeria Boron Market Size and Forecast, by End-user Industry (2023-2030) 7.4.4. Rest of ME&A 7.4.4.1. Rest of ME&A Boron Market Size and Forecast, by Source (2023-2030) 7.4.4.2. Rest of ME&A Boron Market Size and Forecast, by Application (2023-2030) 7.4.4.3. Rest of ME&A Boron Market Size and Forecast, by End-user Industry (2023-2030) 8. South America Boron Market Size and Forecast by Segmentation (by Value and Volume) 2023-2030 8.1. South America Boron Market Size and Forecast, by Source (2023-2030) 8.2. South America Boron Market Size and Forecast, by Application (2023-2030) 8.3. South America Boron Market Size and Forecast, by End-user Industry(2023-2030) 8.4. South America Boron Market Size and Forecast, by Country (2023-2030) 8.4.1. Brazil 8.4.1.1. Brazil Boron Market Size and Forecast, by Source (2023-2030) 8.4.1.2. Brazil Boron Market Size and Forecast, by Application (2023-2030) 8.4.1.3. Brazil Boron Market Size and Forecast, by End-user Industry (2023-2030) 8.4.2. Argentina 8.4.2.1. Argentina Boron Market Size and Forecast, by Source (2023-2030) 8.4.2.2. Argentina Boron Market Size and Forecast, by Application (2023-2030) 8.4.2.3. Argentina Boron Market Size and Forecast, by End-user Industry (2023-2030) 8.4.3. Rest Of South America 8.4.3.1. Rest Of South America Boron Market Size and Forecast, by Source (2023-2030) 8.4.3.2. Rest Of South America Boron Market Size and Forecast, by Application (2023-2030) 8.4.3.3. Rest Of South America Boron Market Size and Forecast, by End-user Industry (2023-2030) 9. Global Boron Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Production of 2022 9.3.6. Company Locations 9.4. Leading Boron Market Companies, by market capitalization 9.5. Analysis of Organized and Unorganized Key Players in Boron Industry 9.6. Market Structure 9.6.1. Market Leaders 9.6.2. Market Followers 9.6.3. Emerging Players 9.7. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. 3M Technical Ceramics 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Borax Argentina S.A. 10.3. Boron Molecular 10.4. Dalian Jinma Boron Technology Group Co. Ltd. 10.5. Eti Maden 10.6. Manufacturas Los and es 10.7. Minera Santa Rita 10.8. Quiborax 10.9. Rio Tinto 10.10. Searles Valley Minerals 10.11. Dalian Jinma Boron Technology Group Co. Ltd. 10.12. SB Boron 10.13. Ceradyne, Inc. 10.14. Boron Specialities LLC. 10.15. Mudanjiang Jingangzuan Boron Carbide 10.16. Manufacturas Los Andes 11. Key Findings 12. Industry Recommendations 13. Boron Market: Research Methodology 14. Terms and Glossary