The
global boron compounds market was valued at US$ 1.98 Bn in 2013 and
is anticipated to reach US$ 3.15 Bn by 2020, expanding at a CAGR of
6.9% between 2014 and 2020. In terms of volume, the global boron
compounds market stood at 1,759 kilo tons in 2013.
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Boron
compounds are majorly used in fiberglass. Increasing demand for
fiberglass in the building and construction industry is expected to
drive the growth of the boron compounds market. Additionally, demand
for boron compounds is estimated to rise significantly in the
insulation fiberglass application, especially in Europe, due to
implementation of stringent building standards with respect to heat
conservation. Companies are focusing on the development of boron
compounds, specifically for the fiberglass and borosilicate glass
industries, due to high demand. However, availability of substitutes
and highly concentrated boron reserves could hamper market growth in
the next few years.
Based
on product types, boron compounds are divided into three segments:
borax, boric acid and others (including sodium metaborate, sodium
perborate, boron oxide and boron trifluoride). Boric acid is expected
to be the fastest growing segment during the forecast period, due to
its fluxing properties and applications in fiberglass and
borosilicate glass. The others segment accounted for 19.1% of the
global boron compounds market in 2013.
Application
segments include borosilicate glass, fiberglass, agriculture,
ceramics, detergents & soaps, and others. Among these, fiberglass
is primarily expected to boost demand for boron compounds in the
market. The fiberglass segment accounted for more than 31% of the
global boron compounds market in 2013. Borosilicate glass was the
second-largest application segment in 2013. Boron compounds have been
experiencing high demand from borosilicate glass, as it exhibits
exceptional performance at high temperatures. This is one of the
major factors driving the borosilicate glass application segment. The
others segment includes cellulose insulation and tanning
applications.
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Asia
Pacific is anticipated to be the highest revenue generator and
fastest growing market during the forecast period between 2014 and
2020 and accounted for over 54% of the share in 2013. Increasing
demand for ceramics and glass applications in end-user industries is
expected to boost demand for boron compounds in the region. Asia
Pacific accounted for more than half of the global volume for boron
compounds in 2013. The market for boron compounds in the region is
likely to expand at a CAGR of approximately 6% between 2014 and 2020.
Furthermore, demand for boron compounds in conventional crops has
been increasing significantly, due to rising agricultural activities
globally. Europe and North America are anticipated to experience
moderate growth compared to Asia Pacific.
The
market for boron compounds is highly consolidated, with the top three
players accounting for more than 75% market share. Key manufacturers
of boron compounds include Rio Tinto Group, Eti Maden, Searles Valley
Minerals, Boron Compounds, Ltd, Tomiyama Pure Chemical Industries,
Mizushima Ferroalloy Co., Ltd and Russian Bor.
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the full Boron Compounds (Borax, Boric Acid and Others) Market for
Borosilicate Glass, Fiberglass, Agriculture, Ceramics, Detergents &
Soaps and Other Applications - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2014 - 2020 report at
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The
report segments the global boron compounds market as:
Boron
Compounds Market - Product Segment Analysis
- Borax
- Boric Acid
- Others (Including boron oxide, sodium perborate, etc.)
Boron
Compounds Market - Application Analysis
- Borosilicate Glass
- Fiberglass
- Agriculture
- Ceramics
- Detergents & Soaps
- Others (Including fire retardant, cellulosic insulation, etc.)
Boron
Compounds Market - Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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Article Of Boron Compounds Market
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