Global Boric Acid Market-Industry Analysis and forecast 2027
Global Boric Acid Market size was valued at US$ X.97 Bn in 2019 and the total revenue is expected to grow at X.4% through 2020 to 2027, reaching US$ X.44 Bn. The report has covered region-wise market trends with a competitive landscape. The report study has analyzed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Boric Acid Market Dynamics:
The global boric acid market is driven by the rising awareness of energy conservation methods, rapid urbanization, and the growth in the energy-saving appliances market. An increase in demand for boric acid in various applications such as wood preservatives, nutritional supplements, ceramics, fiberglass, and pest control are likely to impel the market growth in the coming years. However, boric acid is toxic if it contacts the skin and consumed may hamper the market growth at a global level. The increase in the adoption of boric acid in the oil & gas industry as a viscosity and pH modifier is projected to create beneficial opportunities for key players in the market.
Global Boric Acid Market Segment Analysis
The glass and fiberglass held a significant market share of xx% in 2019 Based on application, the glass and fiberglass held a significant market share of xx% in 2019 and is expected to grow at a CAGR of xx% during the forecast period. Globally, the rapid growth in the construction, automotive, and electronics industries are increasing segment demand. Boric acid is primarily utilized in the manufacturing of monofilament fiberglass. As per the MMR report, the global fiberglass market size was over US$ 15.23 Bn in 2019, and it is expected to increase to US$ X2 Bn by 2027.
Global Boric Acid Market Regional Analysis
Asia Pacific held the largest market share of xx% in 2019 The Asia Pacific held the largest market share of xx% in 2019 and is expected to grow at a CAGR of xx% during the forecast period. The rapid industrialization and growth in the construction industry in emerging economies such as China and India are driving the market growth in the coming years. The rising demand for boric acid in the building & construction industry is projected to impel regional market growth. Emerging economies like China and India are the leading contributors to the regional market growth owing to the increasing medicinal use of boric acid as an antiseptic. Among these, China held the largest regional market share of xx% in 2020. China is the second-largest pharmaceutical market worldwide, and it was valued at US$ xx Bn in 2020, with a CAGR of 9.1%. Also, China's total private and public healthcare expenditure was valued at US$ xx Bn by 2020. North America accounted for the second-largest market share of xx% in 2019 and is expected to reach US$ xx Mn by the end of 2027, with a CAGR of xx%. The well-established infrastructure of the pharmaceutical and cosmetic industries in North America is increasing the demand for boric acid. Developed countries such as the U.S and Canada are the leading contributor to the regional market growth owing to the rising disposable income and increase in the standard of living in these economies. The objective of the report is to present a comprehensive analysis of the Global Boric Acid Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Boric Acid Market dynamics, structure by analyzing the market segments and project the Global Boric Acid Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Boric Acid Market make the report investor’s guide.Global Boric Acid Market Scope
Global Boric Acid Market, by Application
• Medical • Flame Retardants • Glass and Fiberglass • Wood Preservatives • Pest Control (Household) • Personal Care • OthersGlobal Boric Acid Market, by Distribution Channel
• Wholesale • E-Commerce • Retail shopGlobal Boric Acid Market, by End use Industry
• Building and Construction • Ceramics • Pharmaceuticals • Agriculture • Oil & Gas • OthersGlobal Boric Acid Market, by Region
• Asia Pacific • North America • Europe • Latin America • Middle East AfricaGlobal Boric Acid Market Major Players
• 3M Company • Avantor Performance Materials, LLC • Eti Maden • BASF SE • Gujarat Boron Derivatives • Minera Santa Rita S.R.L. • Organic Industries Pvt. Ltd. • QUIBORAX S.A. • Russian Bor Concern OJSC • TOMIYAMA PURE CHEMICAL INDUSTRIES, LTD. • U.S. Borax. • Minera Santa Rita (MSR) • Indo Borax & Chemicals Limited • AMERICAN BORATE COMPANY • Sociedad Industrial Tierra S.A • SCL Italia S.p.A. • MCC Russian Bor • Searles Valley Minerals • Indo Borax & Chemicals LimitedFor More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-boric-acid-market/66557/
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