Boron Oxide Market Professional Survey Report 2023
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The global market for boron oxide is multi dimensional and depends upon the demand from several end use industries. The largest application of boron oxide is in the manufacturing of borosilicate glass. Application of boron oxide in the manufacturing of E- class glass fibers is another large-scale application of the chemical. E- class glass fiber accounts for about 90% of the global glass fiber market and is extensively used in building & construction, transportation and industrial applications. Application of boron oxide in specialty ceramics manufacturing process is another major growth driver of the market. Use of boron oxide in manufacturing of bricks for refractory application has also witnessed steady growth in the recent past. Most of the end use industries of boron oxide have exhibited medium to strong growth and is estimated to propel the market in the foreseeable future.
In spite of a large array of applications, the market is slightly restrained by the gradual popularity of boron free glass fibers and flat glass. The rate of substitution is gradual and is a long term threat to the boron oxide market. However, opportunity exists in the surging electronics application. Use of boron oxide as soldering flux is a potentially large application and the growth in electronic goods and white goods provides attractive growth opportunity for the chemical.
Turkey is the worlds the largest supplier of boron oxide accounting for about 40% of the world supply. U.S. is the second largest supplier of boron oxide in the world followed by China. China accounts for the largest demand for boron oxide in the world. China is the largest producer of glass fiber, electronic devices and ancillary parts in the world. The export oriented manufacturing services in China is the main reason behind the surging demand in the region.. Asia Pacific accounts for over 50% of the global demand, lead by China, Japan, Korea and India. Demand for boron oxide from North America and Europe follow that from Asia Pacific. US accounts for the second largest demand after China.
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Some of the companies operating in the solder paste market are GFS Chemicals, Inc., The Chemical Company, HDG Chemicals Ltd., Acemler Chemco San A.S and Okandan Cam Sanayi Chemical Co. among many others.
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