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Boric Acid Industry - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2027

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Sneha Jamadade

Boric Acid Industry Overview:

The global Boric Acid Industry has been segmented based on end-use, application, and region.

Based on end-use, the fiberglass segment accounted for the largest share in the global Boric Acid Industry in 2017. Fiber glass is used in building and construction activities, and is also used in automotives, With the growing population, the construction and automotive industries are also growing, due to the surge in demand and rapid urbanization. Especially in developing countries such as China, India, Korea, and Taiwan, fibre glass segment is witnessing higher growth. The segment is expected to continue its dominance over the forecast period.

By application, industrial segment held the largest share in the global Boric Acid Industry in 2017. The increasing use of boric acid in pharmaceuticals, cosmetics, fiberglass, insecticides, and power generation are contributing to the growth. In addition, boric acid is also used in electronics industry and borate and boron products are used in the oil & gas industry. Furthermore, growth of the healthcare, power & energy, automotive, and construction are fueling the growth of boric acid. Industrial segment is thus projected to grow at a higher CAGR during the forecast period.

 

Top Boric Acid Industry Key Players:

Some of the key players in the global Boric Acid Industry are 3M (US), Avantor, Inc (US), BASF SE (Germany), Borax (US), Eti Maden (US), Gujarat Boron Derivatives (India), Minera Santa Rita (Argentina), Russian Bor Concern OJSC (Russia), and Borax Morarji Ltd (India), and Tomiyama Pure Chemical Industries, Ltd (Japan)

 

Get Free Sample Copy of “Boric Acid Market” @ https://www.marketresearchfuture.com/sample_request/7294

 

Regional Analysis:

Global Boric Acid Industry has been analyzed across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among them, Asia-Pacific held the largest and fastest growing market in 2017, owing to the growth of construction and agriculture industries in this region. North American market accounted for the second largest share in the global Boric Acid Industry, due to the increased use of boric acid in cosmetics and pharmaceuticals, besides construction. Furthermore, Europe is expected to show considerable growth in the product market during the review period. However, the Latin America and the Middle East & Africa markets are projected to show moderate and steady growth respectively during the forecast years.

 

Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/boric-acid-market-7294

 

 

NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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