Boric Acid Market to reach USD 1248.87 Bn by 2029, emerging at a CAGR of 5.9 percent and forecast 2023-2029

Boric Acid Market Report Scope and Research Methodology

The global Boric Acid Market was valued at US$ 836.08 million in 2022 and is anticipated to reach US$ 1248.87 million by 2029. The market is projected to grow at a CAGR of 5.9% during the forecast period.

The report provides a comprehensive analysis of the Boric Acid Market, covering segments such as Purity, Application, End-User, and Region. It explores market dynamics, drivers, restraints, and regional insights. The research methodology involves data collected from market participants, and key regions analyzed include North America, Asia Pacific, Europe, Middle East & Africa, and South America.
The research methodology involves a thorough examination of historical data from 2017 to 2020. The report utilizes facts, figures, illustrations, and presentations to provide key data analysis. Investor recommendations are included based on a comprehensive assessment of the contemporary competitive scenario.

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Boric Acid Market Dynamics:


The expansion of various industries is contributing to the positive momentum in the Boric Acid Market. Boric acid finds extensive application across diverse sectors, both industrial and household. Its uses range from the production of textile fiber glasses, soldering operations, and lubricants to serving as an insecticide, antiseptic, antibacterial compound, and flame retardant. Additionally, it plays a crucial role in addressing boron deficiencies in plants. The market is experiencing accelerated growth, propelled by factors such as increasing urbanization and a rise in per capita income. Notably, the surge in construction activities in emerging economies like India and China is driving the demand for fiberglass in building and construction applications.

The adoption of boric acid as an energy-efficient compound and its utilization in laboratory applications are significant contributors to market expansion. Moreover, the oil and gas sector is witnessing an upswing in the use of boric acid as a pH modifier and viscosity modifier, further boosting market growth. The demand for boric acid is also on the rise in diverse industries, including cosmetics, pharmaceuticals, and agriculture. Its applications extend to treating boron deficiencies in plants and preserving wood against fungal attacks. This multi-faceted growth is indicative of the increasing versatility and importance of boric acid across various sectors.

Boric Acid Market Regional Insights:

In 2022, the Asia-Pacific region emerged as the dominant force in the Boric Acid Market, securing the largest market share at 32%. This regional stronghold is anticipated to persist, with the Asia-Pacific boric acid market poised for substantial growth at a noteworthy CAGR of 14.1% throughout the forecast period.

The Asia-Pacific boric acid market not only held the largest market share but also stood out as the fastest-growing market in 2022, exhibiting a remarkable 15% growth rate over the projected period. The region's dynamism is attributed to rapid urbanization and a burgeoning population, particularly in emerging economies like India and China. This demographic shift has spurred heightened construction activities, driving the demand for boric acid in the production of textile fiberglass. Furthermore, the flourishing agriculture industry contributes significantly to the regional boric acid market's growth trajectory, and this trend is expected to endure in the forecasted period.

Securing the second-largest share globally in 2022, the North American boric acid market demonstrated substantial presence. The region's market strength is underpinned by the increasing utilization of fiberglass in automotive, construction activities, and pharmaceuticals. Additionally, the burgeoning cosmetics industry has emerged as a key driver, further propelling the growth of the boric acid market in North America. Projections indicate a steady growth trajectory, with the North American boric acid market expected to grow at a CAGR of 5.2% during the forecast period.

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Boric Acid Market Segmentation:

by Purity

Less than 99%
More than equals 99%

by Application

Flame Retardants
Ceramics & Fiberglas
Wood Preservatives
Nutritional Supplements
Pest Control
Others

by End-Use

Pharmaceuticals
Agricultural
Chemical Processing
Building & Construction
Nuclear
Others

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Boric Acid Market Key Players:

1. 3M
2. Avantor
3. BASF SE
4. Borax
5. ETI Maden
6. Gujarat Boron Concern OJSC
7. Borax Moraji Ltd.
8. Toiyama Pure Chemical
9. Nippon Denko Co. Ltd.
10.Southern Agricultural Insecticides Inc,
11.Quiborax SA
12.American Borate Company
13.Tokyo Chemical Industries Ltd.
14.Italia SPA

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Table of content for the Boric Acid Market includes:

1. Global Boric Acid Market: Research Methodology

2. Global Boric Acid Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3.Global Boric Acid Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4 . Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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