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Boron Market Research Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights
Boron Market Research
As per the report, the boron market size has grown exponentially in recent years. It will grow from $6.57 billion in 2023 to $7.99 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The boron market size is expected to see rapid growth in the next few years. It will grow to $12.68 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%.
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Rise Of Agriculture Industry Fuels Boron Market Growth
The increasing expansion of agriculture sector is expected to propel the growth of boron market going forward. The agriculture sector refers to the portion of the economy that is involved in the cultivation of land, raising crops, and rearing animals for various purposes. Boron is utilized in agriculture as a crucial micronutrient, supporting processes such as cell development, pollination, and fruit formation in plants. It is commonly administered through boron-containing fertilizers to address soil deficiencies, ensuring optimal crop growth, yield, and quality. For instance, in June 2022, according to Organization for Economic Co-operation and Development, a France-based intergovernmental organization, agricultural productivity would need to increase by 28% in the next decade to achieve the zero-hunger target. Further, global crop production is estimated to increase by 87% by 2030. Therefore, the increasing expansion of agriculture sector is driving the growth of boron market.
On-Demand 3D Printing Transforming The Boron Market
Modular components designed with 3D printing are being widely used in the mining industry. 3D printing technology enables companies in remote locations to manufacture critical parts onsite as per the requirement, thereby reducing delays due to unplanned maintenance and eliminating the need for holding inventories, which is the major trend in the Boron market.
The boron market covered in this report is segmented -
1) By Type: Aerospace Composite Materials, Boronated Glasses, and Other Types- Boron
2) By Mining Type: Underground Mining, Surface Mining
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Major companies operating in the boron market report are Rio Tinto Group, 3M Company, Borusan Holding A.Ş., Allkem Limited, Searles Valley Minerals Inc., Ceradyne Inc., Borax Inc., S B Boron Corporation, Boron Molecular PTY. Limited, Gujarat Boron Derivatives Pvt. Ltd., China National Bluestar Group Co. Ltd., Minera Santa Rita SRL (MSR), SB Boron Corporation, Qinghai Zhongtian Boron Lithium Mining Co. Ltd., Quiborax S.A., Boron Specialities LLC, Eti Maden İşletmeleri Genel Müdürlüğü, Qinghai Huaxia Boron Co. Ltd., Inner Mongolia Mengyuan Boron Co. Ltd., ABC Corporation, Sichuan Tianli Group Co. Ltd., Henan Sanxing Boron Co. Ltd., LMN Minerals, Jiangxi Lianyi New Materials Co. Ltd., PQR Chemicals, Xinjiang Yutai Boron Compounds Co. Ltd., Fujian Minnan Borate Co. Ltd., Shanxi Borui New Materials Co. Ltd., Hebei Xin'an Boron New Materials Co. Ltd., Hunan Bolin New Materials Co. Ltd.
Contents of the report:
1. Executive Summary
2. Boron Market Report Structure
3. Boron Market Trends And Strategies
4. Boron Market - Macro Economic Scenario
5. Boron Market Size And Growth
…..
27. Boron Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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