Boric Acid Market Size, Share, Growth and Trends, Forecast 2024-2031

Global Boric Acid Market is estimated to grow at a CAGR Of 9.6% during the forecast period 2024-2031.

Boric acid is an odorless, nearly tasteless, and non-flammable compound with various applications. It is primarily used as a minor antiseptic, anti-fungal agent, and insecticide for controlling pests such as cockroaches, termites, fire ants, and fleas. Additionally, boric acid is employed in the manufacture of glass and fiberglass, halogen light bulbs, laboratory glassware, and circuit boards. In nuclear power plants, it helps slow down the rate of fission reactions.

The primary raw materials for boric acid production are borax and sulfuric acid. Industrially, it is produced by reacting borax with mineral acids, such as hydrochloric acid. Boric acid can also be obtained as a by-product from the hydrolysis of diborane and boron trihalides. However, boric acid tends to bioaccumulate, which can have detrimental effects on the environment.

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Market Dynamics:

Increasing Construction Activities and Demand for Energy Efficiency

The market for fiberglass insulation is experiencing growth due to rising construction activities and the heightened focus on energy efficiency. The surge in housing demand, particularly in the US, is significantly contributing to this trend. Fiberglass insulation, the largest application segment of boric acid, is essential for improving thermal efficiency in both residential and commercial buildings, reducing energy use, and lowering carbon dioxide emissions. Its applications extend to duct and pipe wrap for HVAC systems. Additionally, the growing demand for borosilicate glass, known for its durability and heat resistance, further drives market expansion. Borosilicate glass is widely utilized in cookware and laboratory ware due to its superior thermal and chemical resistance.

Segment Covered in the Boric Acid Market:

By Application: Glass and Fiberglass, Flame Retardants, Nutritional Supplements, Wood Preservatives, Pharmaceuticals, and Personal Care Products, Others.

By End User: Building and Construction, Pharmaceuticals, Fiberglass Industry, Others.

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Key players involved in Boric Acid Market:

• 3M Company
• Avantor Performance Materials
• Eti Maden
• Borax
• BASF
• Gujarat Boron Derivatives
• MCC Russian Bor

Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

Regional Analysis:

The Boric Acid Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Boric Acid Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

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