Global Borax Market to Reach USD 3.8 Billion by 2033, Driven by Growing Use in Agriculture and Cleaning Products

The global borax market is set to grow from USD 2.9 billion in 2024 to USD 3.8 billion by 2033, expanding at a steady compound annual growth rate (CAGR) of 3.1% during the forecast period, according to recent market analysis.

The main driver behind this growth is the rising demand for borax in the agriculture sector. Borax, a key source of boron, is increasingly used as a micronutrient in fertilizers. Boron plays a vital role in plant health by supporting cell wall structure, nutrient transport, and reproductive development. Its application in boron-deficient soils helps improve crop quality and yield, especially for fruits, vegetables, grains, and oilseeds. With global food demand growing due to population increases, the need for effective micronutrient fertilizers is on the rise.

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Government support has also played a role in boosting borax demand. Under India's National Mission on Oilseeds and Oil Palm (NMOOP), farmers are being offered financial aid, including a 50% subsidy for micronutrient-rich products such as Rhizobium culture and vermicompost, encouraging the use of borax in farming practices.

Apart from agriculture, borax is gaining popularity in household and industrial cleaning products due to its multiple uses. It enhances the cleaning power of detergents by breaking down tough stains and grease. Borax is also widely used to soften hard water by binding with calcium and magnesium ions, improving the performance of cleaning agents. These qualities make borax a preferred ingredient in many cleaning product formulations.

New regulatory efforts are also influencing the market. The Bureau of Indian Standards (BIS) launched a public consultation in October 2023 on draft safety standards for face washes and scrubs, which would impact how ingredients like borax are used in personal care items.

However, the market faces challenges from fluctuating raw material prices. Borax is mainly produced from borate ores found in limited regions like Turkey and the United States. Supply disruptions due to weather or geopolitical issues can drive prices up. In 2024, sodium tetraborate prices in the U.S. rose from USD 850 per metric ton in Q2 to USD 1,335 per metric ton in Q3 due to poor weather and plant shutdowns. Meanwhile, in China, prices fell to USD 665 per metric ton due to low demand and high inventory levels.

In terms of product types, anhydrous borax led the market in 2024. This form of borax is widely used in making borosilicate glass for laboratory and kitchen equipment due to its heat and chemical resistance. It also plays a key role in metallurgy by cleaning metal surfaces during welding and soldering.

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Looking ahead, boric acid is expected to be the fastest-growing product category. It is widely used in agriculture, pharmaceuticals, and the manufacture of glass and ceramics. Boric acid is easily produced from borax and is valued for its purity, making it suitable for use in insecticides and antiseptics. In January 2024, the European Commission extended the approval period for using boric acid in certain biocidal products, further supporting its market growth.

In a notable industry development, Indo Borax & Chemicals Limited began production of a new boric acid derivative, Disodium Octaborate Tetrahydrate (DOT), in February 2024. DOT is gaining attention for its role in agriculture and various industrial uses.

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Major Players/Manufacturers profiled in the report are:

ETI Mine

Rio Tinto Borates

Borax Argentina S.A.

Tata Chemicals

Searles Valley Minerals

FMC Corporation

Orocobre Limited

S. Borax

Yunnan Tin Company Limited

Gandhar Oil Refinery India Ltd.

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Borax Market Segmentation Analysis

By Type Outlook (Revenue, USD Billion; 2020-2033)

Anhydrous borax

Boric acid

Others

By Application Outlook (Revenue, USD Billion; 2020-2033)

Glass & ceramics

Enamel glazing

Detergents

Fireproofing materials

Agriculture

Others

By End-Use Outlook (Revenue, USD Billion; 2020-2033)

Residential

Commercial

Industrial

Key Geographies Profiled in the Report:

North America(the U.S., Mexico, and Canada)

Asia Pacific(China, Japan, India, and Rest of Asia Pacific)

Europe(the U.K., France, Germany, and Rest of Europe)

Latin America(Brazil and Rest of Latin America)

Middle East & Africa(GCC Countries and Rest of Middle East & Africa)

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