Boric acid market 2023-2027. A descriptive analysis of parent market, five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Dec. 19, 2022 /PRNewswire/ -- According to Technavio, the global boric acid market size is estimated to grow by USD 242.34 million from 2023 to 2027. The market is estimated to grow at a CAGR of  5.78% during the forecast period. APAC will account for 52% of the market's growth during the forecast period.

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Global boric acid market - Five forces
The global boric acid market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global boric acid market - Parent Market analysis

Technavio categorizes the global boric acid market as a part of the global specialty chemicals market. The global specialty chemicals market covers products and companies engaged in high-value-added chemicals used in the manufacturing of a wide variety of products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings.

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Global boric acid market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global boric acid market - Segmentation assessment

Segment overview
Technavio has segmented the market based on type, Application (Glass and ceramics, Agriculture, Detergents, and Others), End-user (Industrial and Household), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The glass and ceramic segment will grow at the highest rate during the forecast period. The market is anticipated to grow due to the increasing use of boric acid in borosilicate glass, textile fiberglass, and insulation fiberglass (IFG). The use of boric acid increases the batch's fiberizing effectiveness and fluxing capabilities in reinforcement fiberglass (RFG) and IFG. The increase in the need for energy-efficient buildings is expected to boost the demand for boric acid. Additionally, tiles, sanitary ware, and dinnerware are all made using boric acid. During the anticipated period, the demand for boric acid in tile glazes such as the floor, wall, and clay roof tiles is anticipated to rise.

Geography overview
By geography, the global boric acid market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global boric acid market.

• APAC will account for 52% of the market's growth during the forecast period. The expansion of the regional market is expected to be driven by the rising demand for boric acid from the glass & ceramics, agricultural, cosmetics, and personal care industries. Since it regulates pH, boric acid is used in the formulation of a wide variety of cosmetic and personal care items, including lotions, creams, and products for the skin, hair, and nails. The demand for boric acid is also expected to rise due to the expansion of infrastructure projects and construction activities in nations like India, China, Japan, Singapore, Thailand, Indonesia, and the Philippines, primarily because of the use of boric acid in the manufacture of glass and ceramics.

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Global boric acid market – Market dynamics

key factor driving market growth

• The increase in demand from developing countries is notably driving the market growth. 
• Due to factors like low transportation costs, easy land availability, inexpensive labor, simple access to raw materials, and less demanding government laws and policies, vendors of boric acid are moving their manufacturing facilities to China, India, Brazil, Mexico, the Philippines, and Indonesia.
• Higher investments in the construction, glass manufacturing, and cosmetics industries are being driven by the growing populations, high disposable incomes, and rising purchasing power in developing APAC and Latin American nations.
• The market is anticipated to rise due to the expanding usage of boric acid in the production of glass and ceramics during the forecast period.

Leading trends influencing the market 

• The development of boron-based nano-lubrication additives is the primary trend in the market.
• Lubricants help to boost machine performance by reducing wear and tear. To achieve performance and meet environmental safety requirements, the global lubricant industry needs additives with high performance and low cost.
• The demand for boron-based nano-lubrication additives is predicted to increase for a wide range of customers in the industrial, transportation, and power generation sectors during the course of the forecast period.
• The market will expand due to the rising innovation and product development for the commercialization of boron-based nano-lubrication additives.

Major challenges hindering the market growth

• Stringent regulations and policies are the major challenge impeding the market growth.
• Boric acid cannot be used in goods intended for children under the age of three. Boric acid is also forbidden in cosmetics sector skin peeling applications if the borate content reaches 1.5%.
• The strict regulations imposed by regulatory agencies such as the Environmental Protection Agency (EPA) and the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) on the use of boric acid in various industrial applications such as agriculture, pharmaceutical, and cosmetics will hinder the market growth.

Driver, Trend & Challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this boric acid market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the boric acid market between 2023 and 2027
• Precise estimation of the size of the boric acid market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the boric acid market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of boric acid market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global boric acid market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global boric acid market 2017 - 2021 ($ million)

• 4.2 Geography Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Application Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Glass and ceramics - Market size and forecast 2022-2027
• Exhibit 34: Chart on Glass and ceramics - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Glass and ceramics - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Glass and ceramics - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Glass and ceramics - Year-over-year growth 2022-2027 (%)

• 6.4 Agriculture - Market size and forecast 2022-2027
• Exhibit 38: Chart on Agriculture - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Agriculture - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Agriculture - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Agriculture - Year-over-year growth 2022-2027 (%)

• 6.5 Detergents - Market size and forecast 2022-2027
• Exhibit 42: Chart on Detergents - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Detergents - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Detergents - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Detergents - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 51: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 52: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 53: Chart on Comparison by End-user
• Exhibit 54: Data Table on Comparison by End-user

• 7.3 Industrial - Market size and forecast 2022-2027
• Exhibit 55: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Industrial - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

• 7.4 Household - Market size and forecast 2022-2027
• Exhibit 59: Chart on Household - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Household - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Household - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Household - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 63: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 105: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 3M Co. 
• Exhibit 116: 3M Co. - Overview
• Exhibit 117: 3M Co. - Business segments
• Exhibit 118: 3M Co. - Key news
• Exhibit 119: 3M Co. - Key offerings
• Exhibit 120: 3M Co. - Segment focus

• 12.4 American Borate Co. 
• Exhibit 121: American Borate Co. - Overview
• Exhibit 122: American Borate Co. - Product / Service
• Exhibit 123: American Borate Co. - Key offerings

• 12.5 Avantor Inc. 
• Exhibit 124: Avantor Inc. - Overview
• Exhibit 125: Avantor Inc. - Business segments
• Exhibit 126: Avantor Inc. - Key offerings
• Exhibit 127: Avantor Inc. - Segment focus

• 12.6 Eti Maden isletmeleri Genel Mudurlugu 
• Exhibit 128: Eti Maden isletmeleri Genel Mudurlugu - Overview
• Exhibit 129: Eti Maden isletmeleri Genel Mudurlugu - Product / Service
• Exhibit 130: Eti Maden isletmeleri Genel Mudurlugu - Key offerings

• 12.7 Gujarat Boron Derivatives Pvt. Ltd. 
• Exhibit 131: Gujarat Boron Derivatives Pvt. Ltd. - Overview
• Exhibit 132: Gujarat Boron Derivatives Pvt. Ltd. - Product / Service
• Exhibit 133: Gujarat Boron Derivatives Pvt. Ltd. - Key offerings

• 12.8 Hemadri Chemicals 
• Exhibit 134: Hemadri Chemicals - Overview
• Exhibit 135: Hemadri Chemicals - Product / Service
• Exhibit 136: Hemadri Chemicals - Key offerings

• 12.9 Indo Borax and Chemicals Ltd. 
• Exhibit 137: Indo Borax and Chemicals Ltd. - Overview
• Exhibit 138: Indo Borax and Chemicals Ltd. - Product / Service
• Exhibit 139: Indo Borax and Chemicals Ltd. - Key offerings

• 12.10 Innova Corporate India 
• Exhibit 140: Innova Corporate India - Overview
• Exhibit 141: Innova Corporate India - Product / Service
• Exhibit 142: Innova Corporate India - Key offerings

• 12.11 Minera Santa Rita Srl 
• Exhibit 143: Minera Santa Rita Srl - Overview
• Exhibit 144: Minera Santa Rita Srl - Product / Service
• Exhibit 145: Minera Santa Rita Srl - Key offerings

• 12.12 Organic Industries Pvt. Ltd. 
• Exhibit 146: Organic Industries Pvt. Ltd. - Overview
• Exhibit 147: Organic Industries Pvt. Ltd. - Product / Service
• Exhibit 148: Organic Industries Pvt. Ltd. - Key offerings

• 12.13 Orocobre Ltd. 
• Exhibit 149: Orocobre Ltd. - Overview
• Exhibit 150: Orocobre Ltd. - Business segments
• Exhibit 151: Orocobre Ltd. - Key offerings
• Exhibit 152: Orocobre Ltd. - Segment focus

• 12.14 Rio Tinto Ltd. 
• Exhibit 153: Rio Tinto Ltd. - Overview
• Exhibit 154: Rio Tinto Ltd. - Business segments
• Exhibit 155: Rio Tinto Ltd. - Key news
• Exhibit 156: Rio Tinto Ltd. - Key offerings
• Exhibit 157: Rio Tinto Ltd. - Segment focus

• 12.15 SCL Italia Spa 
• Exhibit 158: SCL Italia Spa - Overview
• Exhibit 159: SCL Italia Spa - Product / Service
• Exhibit 160: SCL Italia Spa - Key offerings

• 12.16 Sociedad Quimica y Minera de Chile SA
• Exhibit 161: Sociedad Quimica y Minera de Chile SA - Overview
• Exhibit 162: Sociedad Quimica y Minera de Chile SA - Business segments
• Exhibit 163: Sociedad Quimica y Minera de Chile SA - Key offerings
• Exhibit 164: Sociedad Quimica y Minera de Chile SA - Segment focus

• 12.17 The Chemical Co. 
• Exhibit 165: The Chemical Co. - Overview
• Exhibit 166: The Chemical Co. - Product / Service
• Exhibit 167: The Chemical Co. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 168: Inclusions checklist
• Exhibit 169: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 170: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 171: Research methodology
• Exhibit 172: Validation techniques employed for market sizing
• Exhibit 173: Information sources

• 13.5 List of abbreviations 
• Exhibit 174: List of abbreviations

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