Lucintel Forecasts Boron Market to Reach $2.4 Billion by 2027

According to the recent study the Boron Market is projected to reach an estimated $2.4 billion by 2027 from $1.6 billion in 2021, at a CAGR of 4.9% from 2021 to 2027. Growth in this market is primarily driven by 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.

Browse 144 figures / charts and 129 tables in this 200 -page report to understand trends, opportunities and forecast in 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 products, agriculture, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Glass market is expected to remain the largest segment during the forecast period.”

Based on application, the boron market is segmented into glass, ceramic, fertilizer, detergent, and others. Lucintel forecasts that the glass market is expected to remain the largest segment due to stringent government regulations for energy efficiency and reduction in carbon emission is driving the demand for glass wool and E-glass (fiberglass) in various end use industries.

“Within the boron market, the building and construction segment is expected to remain the largest end use industry.”

Based on end use industry the building and construction segment is expected to witness the highest growth over the forecast period due to increasing demand for glass wool insulation and ceramic tiles in residential and commercial buildings.

“Asia pacific will dominate the boron market in near future.”

APAC is projected to 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.

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Major players of boron market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Eti Maden, Rio Tinto, Rose Mill Co., Searles Valley Minerals, Minera Santa Rita, Borax Argentina, QUIBORAX, Russian Bor are among the major boron providers.

This unique 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 click on this link https://www.lucintel.com/boron-market.aspx or helpdesk@lucintel.com.

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Contact:
Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
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