A main factor in the global boric acid market is the increasing demand from the renewable energy sector. Renewable energy, such as solar energy, has risen quickly as a result of falling prices and a promise of a more carbon-controlled future for solar technology.
Dallas, United States - March 27, 2021 /MarketersMedia/ —
It exists in colorless crystals or a white powder that dissolves in water. Boracic acid is odorless. It has a crystalline structure usually available as a water-soluble powder form. The market is projected to reach USD 8.5 billion by the end of 2028.
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Boric acid has a broad range of different uses in the medical field as antiseptic and as a pH buffer for swimming pools. It is also used in producing lubricants for ceramic and metal surfaces with oils. The rising demand for boric acid is expected to drive the growth of the boric acid market in energy efficient devices such as residential and commercial buildings. Macroeconomic factors, such as growing income and jobs per capita, and rapid industrialization, are possibly contributing to business growth.
A significant growth rate is expected on the global boric acid market as a result of the rising demand in energy saving equipment. Boric acid is used as a commercial and residential building insulation in energy-efficient applications. Boric acid is also advantageous to the fact that it is used in the production of oil and wind energy. The decline in the unoccupied rate and stable employment has increased residential and commercial construction activity in the US.
In terms of region the global market is divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The increased demand in building and automotive applications for glass and fiberglass has led to the growth of the boric acid market in countries like China and India of the Asian-Pacific region. Asia Pacific is projected to account for more than 50% share over the foreseeable future.
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In terms of application the global market is segmented into Fiberglass Industry, Building and Construction, Ceramics, Pharmaceuticals, Others. Ceramics and fiber glass is projected to account for a major market revenue share over the foreseeable future.
Key players include Minera Santa Rita S.R.L., Gujarat Boron Derivatives, Organic Industries Pvt. Ltd., QUIBORAX S.A., Russian Bor Concern OJSC, TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD., U.S. Borax, Eti Maden, Avantor Performance Materials, LLC, 3M Company.
Key segments across Boric Acid market
Application Overview, 2019-2028, (USD Billion)
Fiberglass Industry
Building and Construction
Ceramics
Pharmaceuticals
Others
Regional Overview, 2019-2028, (USD Billion)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia-Pacific
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
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Table of Contents:
Chapter 1. Introduction
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Market Outlook
Chapter 5. Boric Acid Market by Application
Chapter 6. Boric Acid Market by Region
Chapter 7. Competitive Landscape
Chapter 8. Company Profiles
Chapter 9. Appendix
About Adroit Market Research
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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Organization: Adroit Market Research
Website: https://www.adroitmarketresearch.com/industry-reports/boric-acid-market
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