Press release
Soaring Global Boron Market Predicted to Hit $11.82 Billion by 2029: Key Drivers and Trends
Boron Market Size
What Is The Projected Market Size Of The Global Boron Market And Its Growth Rate?
The global Boron market has demonstrated remarkably profitable growth in recent years, and it's predicted to soar further:
• The Boron market, valued at $7.46 billion in 2024, is projected to increase to approximately $8 billion in 2025, marking a compound annual growth rate (CAGR) of 7.3%.
• By 2029, the Boron market is forecasted to amplify further to approximately $11.82 billion, recording a CAGR of 10.3%.
Factors inciting this market expansion encompass the rising demand across agricultural, electronics & semiconductors, consumer products, and healthcare sectors.
What Is Driving The Growth In The Boron Market?
The considerable expansion in global agriculture is largely driving the growth of the boron market. As a vital micronutrient, boron bolsters processes like cell development, pollination, and fruit formation in plants and is typically administered through boron-containing fertilizers to mitigate soil deficiencies. As per the Organization for Economic Co-operation and Development, global agricultural productivity must increase by 28% in the forthcoming decade to accomplish the zero-hunger target. Furthermore, worldwide crop production is anticipated to rise by 87% by 2030. Given these scenarios, the ever-expanding agriculture sector is primarily boosting the boron market's growth.
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Who Are the Key Players Driving Boron Market Growth?
The Boron market's key contributors encompass:
• Rio Tinto Group
• 3M Company
• Borusan Holding A.S.
• 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 Isletmeleri Genel Müdürlügü
• 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.
What Are The Key Trends In The Boron Market?
Principal trends steering the Boron market include:
• Increasing focus on Boron Neutron Capture Therapy (BNCT)
• Utilization of boron in the aerospace industry
• Boron-based flame retardants
• Application of boron in nuclear power activities
• Adoption of sustainable mining practices.
What Are The Segments Of The Global Boron Market?
There are substantial segments in the global Boron market:
1) By Type: Aerospace Composite Materials, Boronated Glasses, And Other Types of Boron
2) By Mining Type: Underground Mining, Surface Mining.
Which Region Leads The Boron Market?
The Middle East was the leading region in the Boron market in 2024. Nevertheless, the report also covers other crucial regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Africa.
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What Is Covered In The Boron Market Global Market Report?
- Market Size Analysis: Analyze the Boron Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Boron Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Boron Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Boron Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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