Opportunities for the global boron market to reach $1.7 billion by 2024

According to a new market report published by Lucintel, the future of the global boron market looks promising with opportunities in the building and construction, electrical and electronics, pharmaceutical, consumer, and agriculture industries. The global boron market is expected to reach $1.7 billion by 2024 with a CAGR of 3.4% from 2019 to 2024. The major drivers for this market are increasing demand for glass and ceramics in the building and construction industry, growth in the pharmaceutical packaging market, and the growing consumption of micronutrient fertilizers.

In this market, boron is used as fillers and performance additives in various applications, such as glass, ceramic, fertilizer, and detergent. Lucintel forecasts that glass will remain the largest segment and it is also expected to witness the highest growth over the forecast period. Stringent government regulation towards energy efficiency and carbon emission is driving the demand for glass wool and E-glass (fiberglass) in various end use industries.

Within the boron market, building and construction will remain the largest market by value and volume due to increasing demand for glass wool insulation and ceramic tile in residential and commercial buildings. Pharmaceutical is expected to witness the highest growth during the forecast period due to the growing preference for borosilicate glass in the pharmaceutical packaging industry.

APAC will remain the largest region and it is also expected to witness the highest growth over the forecast period due to growth in building and construction activities and increasing healthcare expenditure.

Emerging trends, which have a direct impact on the dynamics of the industry, include use of boron for nuclear applications and lubrication additives. Eti Maden, Rio Tinto, American Borate, Boron Specialist, Gremont Chemicals, and Searles Valley Minerals are some of the major boron manufacturers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global boron market by end use industry, application, source, and region and has come up with a comprehensive research report entitled  “Growth Opportunities in the Global Boron Market 2019-2024: Trends, Forecast, and Opportunity Analysis”. The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global boron market by source, application, end use industry, and region as follows:

By Application [Kilotons and $M shipment analysis from 2013 to 2024]:

·           Glass

1.  Borosilicate Glass
2.  Fiberglass (E-Glass)
3.  Glass wool

·           Ceramic

·           Fertilizer

·           Detergent

·           Others

By End Use Industry [Kilotons and $M shipment analysis from 2013 to 2024]:

·           Building and Construction

·           Electrical & Electronics

·           Pharmaceutical

·           Consumer

·           Agriculture

·           Others

By Source [Kilotons and $M shipment analysis from 2013 to 2024]:

·         Mining

·         Salt Lake Source and Others

By Region [Billion Units and $B shipment analysis for 2013 to 2024]:

·         North America

1.          United States
2.         Canada
3.         Mexico

·         Europe

1.         Germany
2.         France
3.          United Kingdom

·         Asia Pacific

1.          China
2.          Japan
3.          India

·         The Rest of the World

This 200-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or   helpdesk@lucintel.com. Lucintel offerings include chemical market research reports, chemical industry analysis report, commercial due diligence report, business strategy consulting and market research reports online. 

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising, high-growth opportunities for the global boron market by source (mine source and salt lake source & others), application (glass, ceramic, fertilizer, detergent, and others), end use industry (building and construction, electronics, pharmaceutical, consumer, agriculture, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and reasons behind them?

Q.7 What are some changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?

Q.11 What M&A activity has occurred in the last 5 years?