One of the major factors driving the boron market growth is increasing demand for electronic products and rising penetration of fiberglass in markets predictably held by steel and concrete. Moreover, penetration of fiberglass in turbine blades for wind power generation is also anticipated to positively impact development of market. Besides, growth of construction industry, is also leading to higher fiberglass demand for communal construction for instance bridges and roads is estimated to provide the market with new opportunities. On the other hand, low availability of boron, complex process of manufacturing and enormously concentrated reserves are major restraints towards the growth of market.
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Boron has been named for the mineral borax, derived from the Persian name burah for that mineral. It is a chemical element that is produced with the process known as cosmic ray spallation. Boron finds its usage in several products that are used in day to day activities for instance composites used in car body panels, LCD screens, glass wool for loft insulation and others in the form of ferro boron, borosilicate glass, insulation-grade materials as well as fiberglass. Furthermore, major end-use industries, using boron as their raw material include agriculture, glass, ceramics, pharmaceuticals, detergents and others.
Geographical segmentation of global boron market is led by Europe acquiring largest share in terms of supply. This is because of the substantial reserves in Turkey that accounts for more than one third of the total reserve across the world. Further, Europe was trailed by Latin America as well as North America respectively. Additionally, Asia Pacific is the largest consumer of market, on account of rising demand for fiberglass in several industries including electronic products & automotive.
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Key players operating in the boron market across the globe include Boron Specialities LLC., Boron Molecular, 3M, Eti Maden, SB Boron, Ceradyne Inc., Rio Tinto, Quiborax, Dalian Jinma Boron Technology Group Co. Ltd., Borax Argentina, Manufacturas Los Andes, Searles Valley Minerals, Mudanjiang Jingangzuan Boron Carbide and ETI mines.
Key segments of the global boron market include:
- Geographical Segmentation
- Europe (France, Germany, UK, Russia & Italy)
- North America (Canada, United States & Mexico)
- Asia-Pacific (Japan, China, India, Korea & Southeast Asia)
- South America (Argentina, Brazil, Colombia, etc.)
- Middle East and Africa (UAE, Saudi Arabia, Egypt, Nigeria & South Africa)
- Type Segmentation
- Salt Lake Source
- Mine Source
- End-user Segmentation
What to expect from the upcoming report on ‘Global Boron market’:
– Global Boron market analysis about future prospects as well as trends market over the forecast period (2018-2025)
– Information regarding technological progressions as well as innovations taking place in developing as well as developed economies.
– Supportive initiatives by government likely to influence the market dynamics.
– Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
– In-depth analysis of different market segmentations including regional segmentations, applications and end-users.
– Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.
– The report over Boron Market Outlook also offers boron market price 2017 for the readers.
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