PUNE, India, November 22, 2016 /PRNewswire/ --
2016 boric acid market research says one of latest trends in the market is high demand for boric acid in energy saving appliances. The demand for boric acid used in energy-saving applications such as the insulation for commercial and residential buildings is on the rise. The compound is also used for energy generation from oil extraction and wind. In North America, especially in the US, the reduction in unemployment rates and stable income levels has increased construction activities. This factor along with an increase in consumer spending will foster the demand for boric acid, thereby driving the market growth during the forecast period.
Complete report on boric acid market spread across 55 pages, analysing 6 major companies and providing 33 data exhibits now available at http://www.reportsnreports.com/reports/749321-global-boric-acid-market-2016-2020.html.
This analyst forecast the global boric acid market to grow at a CAGR of 7.44% during the period 2016-2020. According to the report, one of the primary drivers in the market is rapid urbanization. Urbanization, energy needs, and the demand for food products globally are fostering the global boric acid market. Urbanization and rising disposable incomes, especially in developing economies, have elevated the demand for glazed ceramics, electronic devices, and LCD televisions. These appliances contain borosilicate glass and textile fiberglass.
Glass and fiberglass segment led the boric acid market and will continue to dominate the market during the forecast period. The fiberglass segment includes borosilicate glass, fiberglass, and insulation fiberglass. Some of the factors that will propel the boric acid market segment's growth are an increase in the global construction industry and rising demand for higher thermal efficiency, lightweight, strength, durability, and eco-friendly insulation products. Moreover, with the rising awareness of energy conservation methods, the demand for fiberglass is estimated to increase over the next few years.
APAC accounted for the maximum market share and will continue to dominate the boric acid market during the forecast period. This increase corresponds to the rising demand for glass and fiberglass from construction and automotive industries in the region. Other aspects that propel market growth include the growing demand for boric acid in household insecticide products and industrial applications and their benefits as an antiseptic and wood preservative.
The following companies are the key players in the global boric acid market: 3M, Avantor Performance Materials, BASF, Borax, Eti Maden, and Gujarat Boron Derivatives. Other prominent vendors in the market are: Minera Santa Rita (MSR), Quiborax, Russian Bor, Searles Valley Reserves, Sociedad Industrial Tierra, Societa Chimica Larderello (SCL), and Tomiyama Pure Chemical Industries. Order a copy of Global Boric Acid Market 2016-2020 report @ http://www.reportsnreports.com/purchase.aspx?name=749321.
Global Boric Acid Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. To calculate the market size, the boric acid market report considers the revenue generated from the sale of boric acid in several industries including glass and fiberglass, pharmaceuticals and personal care products, flame retardants, wood preservatives and pest control, nutritional supplements, and other segments by considering 2015 as the base year.
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