The global boric acid market to grow at a CAGR of 7.44% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global boric acid market for 2016-2020. To calculate the market size, the 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. The report also includes a discussion of the key vendors operating in this market.
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 have 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.
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.
Further, the report states that one major challenge in the market is ban on cosmetic products containing boric acid by EU. Cosmetic products containing boric acid are banned in EU legislation, and no exception to the ban has been granted. The compound has been classified as carcinogenic, mutagenic, or toxic for reproduction (CMR), by the grouping 1B of Regulation (EC) 790/2009 adjusting Regulation 1272/2008 on the classification, labeling, and packaging of substances and mixtures (CLP Regulation). This was as a result of being included in Part 3 of Annex VI of the CLP Regulation.
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Avantor Performance Materials
- Eti Maden
- Gujarat Boron Derivatives
Other prominent vendors
- Minera Santa Rita (MSR)
- Russian Bor
- Searles Valley Reserves
- Sociedad Industrial Tierra
- Societa Chimica Larderello (SCL)
- Tomiyama Pure Chemical Industries
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by application
Part 07: Market segmentation by geography
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/nvj8zk/global_boric_acid
Laura Wood, Senior Manager
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SOURCE Research and Markets