Boron Market Trends, Size, Analysis, Top Players 2021-2031
The boron market size is projected to reach US$ 7.65 billion by 2031 from US$ 5.64 billion in 2023. The market is expected to register a CAGR of 3.9% during 2023–2031. Expansion of boron applications across glass & ceramics and agrochemicals industries is likely to remain one of the key trends in the market.
Boron Market Analysis
Boron oxide is used in the glass industry for the manufacturing of borosilicate glass, known for its low thermal expansion. Boron nitride is an advanced ceramic material, synthetically produced and available in powder form. It offers thermal conductivity and thermal shock resistance. Boron is a key micronutrient with a wide scope of applications in the agrochemical industry, as it promotes the growth and health of plants. In 2023, Markab Capital invested US$ 180 million to build a civil aircraft manufacturing facility in the UAE by signing an agreement with Super Jet International. The first production phase included an annual production capacity of 10–15 aircraft. Such investments in the development of lightweight aircraft structures are likely to create numerous opportunities for the market players in the coming years.
Boron Market Overview
Borates are naturally occurring minerals containing boron and have several important characteristics such as metabolizing, bleaching, buffering, dispersing, and vitrifying properties. Boron mining involves a series of steps for the extraction of low-cost and high-grade minerals. Boron derivatives such as borax, boric acid, boron carbide, and boron oxide are used across several end-use industries. Boric acid or hydrogen borate is used in antiseptics, insecticides, flame retardants, glass, and ceramics. Its properties enhance the durability, heat resistance, and clarity of glass and ceramics. Fertilizer manufacturers incorporate boron into products to improve crop yields. Boron compounds are used in the production of household and industrial cleaning products due to their whitening and stain-removing properties. Borax naturally occurs in evaporite deposits extracted through surface as well as underground mining.
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Boron Market: Strategic Insights
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Boron Market: Strategic Insights
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Boron Market Drivers and Opportunities
Rapid Growth of Glass & Ceramics Industry
Borates are used in the insulation of fiberglass, whereas glass wool contains 4–7% borates. In addition, boric oxide is used to manufacture high-quality handmade decorative ware. A cesium borosilicate glass is used to protect solar cells on satellites from the harmful radiation encountered in space. The rapid development of thin film transistor liquid crystal displays (TFT LCD) has been enhanced by the use of specialized borosilicate glasses. Borates are used in the production of sealed headlights, lamp covers, halogen bulbs and fluorescent tubes, designed for high electrical resistance, strength, chemical durability, and thermal shock resistance. Thus, the growth of the glass & ceramics industry is one of the major drivers of the boron market
Growing Investments in Aerospace & Defense Industry
Boron fibers and boron carbide are high-strength and low-weight materials used in aerospace structures. The growing use of lightweight materials in the aerospace & defense industries is driving the demand for boron. Boron compounds such as boron nitride can withstand high temperatures, thereby having applications in heat shields, thermal protection systems, and other high-temperature applications. Boron is used as a dopant in semiconductors to improve the properties of advanced electronics utilized in the aerospace & defense industry. The aerospace manufacturing industry in Canada significantly produces aircraft components for commercial use, supported by funding from the government. According to the report by the International Trade Association, the government of Canada provided support of US$ 1.36 billion to the aerospace sector during 2021–2022 through the Federal Strategic Innovation Fund. Thus, the rising investments in the aerospace & defense industry are expected to create lucrative opportunities for the boron market growth during the forecast period.
Boron Market Report Segmentation Analysis
Key segments that contributed to the derivation of the boron market analysis are derivatives and end-use industry.
- Based on derivatives, the boron market is segmented into borax, boric acid, boron nitride, boron carbide, boron oxide, and others. The boron nitride segment held the largest market share in 2023.
- In terms of end-use industry, the market is categorized into agrochemicals, glass, ceramics, detergents, pharmaceuticals, electrical & electronics, and others. The glass segment held a significant share of the market in 2023.
Boron Market Share Analysis by Geography
The geographic scope of the boron market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In 2023, Europe dominated the market for boron. The glass industry is one of the largest manufacturing industries in Europe. According to data published by the European Commission, Europe is the world's largest glass producer, with a market share of approximately one-third of total world production. Europe is a diverse market with several developed and developing economies, such as Germany, France, Italy, the UK, Spain, and Russia. The region has several major glass manufacturers, such as Saint-Gobain, Schott, and AGC Inc. The manufacturers are involved in the strategic expansion and product development to meet the rising demand for glass from end-use industries. For instance, in February 2022, AGC Inc. invested ~US$ 10.57 million in its laminating line to be installed in its Osterweddingen Plant (Germany).
Europe is recognized for its pharmaceutical manufacturing, with Germany, France, Switzerland, and Italy being the major producers in the region. In the pharmaceutical industry, boron is used in eye care products, as boron retains moisture, controls pH, and relieves irritants. Therefore, increasing consumption of boron across several industries, such as renewable energy, glass & ceramics, and pharmaceuticals, boosts the boron market growth in Europe.
Boron Market Report Scope
Boron Market News and Recent Developments
The boron market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the boron market are listed below:
- 5E Advanced Materials, Inc, announced the launch of commercial production of boric acid at the 5E Boron America’s Complex. (Source: 5E Advanced Materials/Press Release/April 2024)
- Compagnie de Saint Gobain SA announced a new line of pigmented boron nitride coatings, CeraGlide Azure. (Source: Compagnie de Saint Gobain SA/Press Release/November 2023)
- Compagnie de Saint Gobain SA in collaboration with Haydale Group entered into a collaboration agreement to develop advanced surface chemistries for boron nitride powders. (Source: Compagnie de Saint Gobain SA/Press Release/September 2023)
Boron Market Report Coverage and Deliverables
The “Boron Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Boron market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Boron market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter’s Five Forces analysis and SWOT analysis
- Boron market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the boron market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Europe dominated the boron market in 2023.
Growth in the glass & ceramics industry and surging demand from the agrochemicals industry are a few driving factors of the boron market.
The future trends of the boron market include increasing utilization of boron nanoparticles across several end-use industries.
Nippon Denko Co Ltd, Hoganas AB, Compagnie de Saint Gobain SA, Rio Tinto Ltd, and Arkema SA are the leading players operating in the boron market.
The boron market value is estimated to be US$ 7.65 billion by 2031.
The boron market is expected to register a CAGR of 3.9% during 2023–2031.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Boron Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Boron Manufacturers
4.3.3 Distributors
4.3.4 End-Use Industry
4.3.5 List of Vendors in the Value Chain
5. Boron Market – Key Market Dynamics
5.1 Boron Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growth of Glass & Ceramics Industry
5.2.2 Surge in Demand from Agrochemicals Industry
5.3 Market Restraints
5.3.1 Fluctuations in Boron Prices
5.4 Market Opportunities
5.4.1 Growing Investments in Aerospace & Defense Industry
5.5 Future Trends
5.5.1 Surging Utilization of Boron Nanoparticles in Several Industries
5.6 Impact of Drivers and Restraints:
6. Boron Market – Global Market Analysis
6.1 Boron Market Volume (Kilo Tons), 2021–2031
6.2 Boron Market Volume Forecast and Analysis (Kilo Tons)
6.3 Boron Market Revenue (US$ Million), 2021–2031
6.4 Boron Market Revenue Forecast and Analysis (US$ Million)
7. Boron Market Volume and Revenue Analysis – by Derivatives
7.1 Borax
7.1.1 Overview
7.1.2 Borax: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
7.1.3 Borax: Boron Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Boric Acid
7.2.1 Overview
7.2.2 Boric Acid: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
7.2.3 Boric Acid: Boron Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Boron Nitride
7.3.1 Overview
7.3.2 Boron Nitride: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
7.3.3 Boron Nitride: Boron Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Boron Carbide
7.4.1 Overview
7.4.2 Boron Carbide: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
7.4.3 Boron Carbide: Boron Market – Revenue and Forecast to 2031 (US$ Million)
7.5 Boron Oxide
7.5.1 Overview
7.5.2 Boron Oxide: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
7.5.3 Boron Oxide: Boron Market – Revenue and Forecast to 2031 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
7.6.3 Others: Boron Market – Revenue and Forecast to 2031 (US$ Million)
8. Boron Market Revenue Analysis – by End-use Industry
8.1 Agrochemicals
8.1.1 Overview
8.1.2 Agrochemicals: Boron Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Glass
8.2.1 Overview
8.2.2 Glass: Boron Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Ceramics
8.3.1 Overview
8.3.2 Ceramics: Boron Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Detergents
8.4.1 Overview
8.4.2 Detergents: Boron Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Pharmaceuticals
8.5.1 Overview
8.5.2 Pharmaceuticals: Boron Market – Revenue and Forecast to 2031 (US$ Million)
8.6 Electrical and Electronics
8.6.1 Overview
8.6.2 Electrical and Electronics: Boron Market – Revenue and Forecast to 2031 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Boron Market – Revenue and Forecast to 2031 (US$ Million)
9. Boron Market – Geographical Analysis
9.1 Overview
9.2 North America
9.2.1 North America Boron Market Overview
9.2.2 North America Boron Market – Volume and Forecast to 2031 (Kilo Tons)
9.2.3 North America Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.2.4 North America Boron Market Breakdown by Derivatives
9.2.4.1 North America Boron Market Volume and Forecast and Analysis – by Derivatives
9.2.4.2 North America Boron Market Revenue and Forecast and Analysis – by Derivatives
9.2.5 North America Boron Market Breakdown by End-use Industry
9.2.5.1 North America Boron Market Revenue and Forecast and Analysis – by End-use Industry
9.2.6 North America Boron Market Revenue and Forecast and Analysis – by Country
9.2.6.1 North America Boron Market Volume and Forecast and Analysis – by Country
9.2.6.2 North America Boron Market Revenue and Forecast and Analysis – by Country
9.2.6.3 United States Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.3.1 United States Boron Market Breakdown by Derivatives
9.2.6.3.2 United States Boron Market Breakdown by End-use Industry
9.2.6.4 Canada Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.4.1 Canada Boron Market Breakdown by Derivatives
9.2.6.4.2 Canada Boron Market Breakdown by End-use Industry
9.2.6.5 Mexico Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.5.1 Mexico Boron Market Breakdown by Derivatives
9.2.6.5.2 Mexico Boron Market Breakdown by End-use Industry
9.3 Europe
9.3.1 Europe Boron Market Overview
9.3.2 Europe Boron Market – Volume and Forecast to 2031 (Kilo Tons)
9.3.3 Europe Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.3.4 Europe Boron Market Breakdown by Derivatives
9.3.4.1 Europe Boron Market Volume and Forecast and Analysis – by Derivatives
9.3.4.2 Europe Boron Market Revenue and Forecast and Analysis – by Derivatives
9.3.5 Europe Boron Market Breakdown by End-use Industry
9.3.5.1 Europe Boron Market Revenue and Forecast and Analysis – by End-use Industry
9.3.6 Europe Boron Market Revenue and Forecast and Analysis – by Country
9.3.6.1 Europe Boron Market Volume and Forecast and Analysis – by Country
9.3.6.2 Europe Boron Market Revenue and Forecast and Analysis – by Country
9.3.6.3 Germany Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.3.1 Germany Boron Market Breakdown by Derivatives
9.3.6.3.2 Germany Boron Market Breakdown by End-use Industry
9.3.6.4 France Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.4.1 France Boron Market Breakdown by Derivatives
9.3.6.4.2 France Boron Market Breakdown by End-use Industry
9.3.6.5 Italy Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.5.1 Italy Boron Market Breakdown by Derivatives
9.3.6.5.2 Italy Boron Market Breakdown by End-use Industry
9.3.6.6 United Kingdom Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.6.1 United Kingdom Boron Market Breakdown by Derivatives
9.3.6.6.2 United Kingdom Boron Market Breakdown by End-use Industry
9.3.6.7 Russia Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.7.1 Russia Boron Market Breakdown by Derivatives
9.3.6.7.2 Russia Boron Market Breakdown by End-use Industry
9.3.6.8 Rest of Europe Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.8.1 Rest of Europe Boron Market Breakdown by Derivatives
9.3.6.8.2 Rest of Europe Boron Market Breakdown by End-use Industry
9.4 Asia Pacific
9.4.1 Asia Pacific Boron Market Overview
9.4.2 Asia Pacific Boron Market – Volume and Forecast to 2031 (Kilo Tons)
9.4.3 Asia Pacific Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.4.4 Asia Pacific Boron Market Breakdown by Derivatives
9.4.4.1 Asia Pacific Boron Market Volume and Forecast and Analysis – by Derivatives
9.4.4.2 Asia Pacific Boron Market Revenue and Forecast and Analysis – by Derivatives
9.4.5 Asia Pacific Boron Market Breakdown by End-use Industry
9.4.5.1 Asia Pacific Boron Market Revenue and Forecast and Analysis – by End-use Industry
9.4.6 Asia Pacific Boron Market Revenue and Forecast and Analysis – by Country
9.4.6.1 Asia Pacific Boron Market Volume and Forecast and Analysis – by Country
9.4.6.2 Asia Pacific Boron Market Revenue and Forecast and Analysis – by Country
9.4.6.3 Australia Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.3.1 Australia Boron Market Breakdown by Derivatives
9.4.6.3.2 Australia Boron Market Breakdown by End-use Industry
9.4.6.4 China Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.4.1 China Boron Market Breakdown by Derivatives
9.4.6.4.2 China Boron Market Breakdown by End-use Industry
9.4.6.5 India Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.5.1 India Boron Market Breakdown by Derivatives
9.4.6.5.2 India Boron Market Breakdown by End-use Industry
9.4.6.6 Japan Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.6.1 Japan Boron Market Breakdown by Derivatives
9.4.6.6.2 Japan Boron Market Breakdown by End-use Industry
9.4.6.7 South Korea Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.7.1 South Korea Boron Market Breakdown by Derivatives
9.4.6.7.2 South Korea Boron Market Breakdown by End-use Industry
9.4.6.8 Rest of APAC Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.8.1 Rest of APAC Boron Market Breakdown by Derivatives
9.4.6.8.2 Rest of APAC Boron Market Breakdown by End-use Industry
9.5 Middle East and Africa
9.5.1 Middle East and Africa Boron Market Overview
9.5.2 Middle East and Africa Boron Market – Volume and Forecast to 2031 (Kilo Tons)
9.5.3 Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.5.4 Middle East and Africa Boron Market Breakdown by Derivatives
9.5.4.1 Middle East and Africa Boron Market Volume and Forecast and Analysis – by Derivatives
9.5.4.2 Middle East and Africa Boron Market Revenue and Forecast and Analysis – by Derivatives
9.5.5 Middle East and Africa Boron Market Breakdown by End-use Industry
9.5.5.1 Middle East and Africa Boron Market Revenue and Forecast and Analysis – by End-use Industry
9.5.6 Middle East and Africa Boron Market Revenue and Forecast and Analysis – by Country
9.5.6.1 Middle East and Africa Boron Market Volume and Forecast and Analysis – by Country
9.5.6.2 Middle East and Africa Boron Market Revenue and Forecast and Analysis – by Country
9.5.6.3 South Africa Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.3.1 South Africa Boron Market Breakdown by Derivatives
9.5.6.3.2 South Africa Boron Market Breakdown by End-use Industry
9.5.6.4 Saudi Arabia Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.4.1 Saudi Arabia Boron Market Breakdown by Derivatives
9.5.6.4.2 Saudi Arabia Boron Market Breakdown by End-use Industry
9.5.6.5 United Arab Emirates Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.5.1 United Arab Emirates Boron Market Breakdown by Derivatives
9.5.6.5.2 United Arab Emirates Boron Market Breakdown by End-use Industry
9.5.6.6 Rest of Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.6.1 Rest of Middle East and Africa Boron Market Breakdown by Derivatives
9.5.6.6.2 Rest of Middle East and Africa Boron Market Breakdown by End-use Industry
9.6 South and Central America
9.6.1 South and Central America Boron Market Overview
9.6.2 South and Central America Boron Market – Volume and Forecast to 2031 (Kilo Tons)
9.6.3 South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.6.4 South and Central America Boron Market Breakdown by Derivatives
9.6.4.1 South and Central America Boron Market Volume and Forecast and Analysis – by Derivatives
9.6.4.2 South and Central America Boron Market Revenue and Forecast and Analysis – by Derivatives
9.6.5 South and Central America Boron Market Breakdown by End-use Industry
9.6.5.1 South and Central America Boron Market Revenue and Forecast and Analysis – by End-use Industry
9.6.6 South and Central America Boron Market Revenue and Forecast and Analysis – by Country
9.6.6.1 South and Central America Boron Market Volume and Forecast and Analysis – by Country
9.6.6.2 South and Central America Boron Market Revenue and Forecast and Analysis – by Country
9.6.6.3 Brazil Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.3.1 Brazil Boron Market Breakdown by Derivatives
9.6.6.3.2 Brazil Boron Market Breakdown by End-use Industry
9.6.6.4 Argentina Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.4.1 Argentina Boron Market Breakdown by Derivatives
9.6.6.4.2 Argentina Boron Market Breakdown by End-use Industry
9.6.6.5 Rest of South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.5.1 Rest of South and Central America Boron Market Breakdown by Derivatives
9.6.6.5.2 Rest of South and Central America Boron Market Breakdown by End-use Industry
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Collaboration
11.3 Market Initiative
12. Company Profiles
12.1 Nippon Denko Co., Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Hoganas AB
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 3M Co
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 UBE Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Arkema SA
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 JFE Mineral & Alloy Co Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Tokyo Chemical Industry Co Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Rio Tinto Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Compagnie de Saint Gobain SA
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Eti Maden
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Stella Chemifa Corporation
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 FREEMAN (JAPAN) CO., LTD.
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 KROSAKI HARIMA CORPORATION
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 Washington Mills Electro Minerals Limited
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
12.15 Boron Specialties, LLC
12.15.1 Key Facts
12.15.2 Business Description
12.15.3 Products and Services
12.15.4 Financial Overview
12.15.5 SWOT Analysis
12.15.6 Key Developments
13. Appendix
13.1 About The Insight Partners
List of Tables
Table 1. Boron Market Segmentation
Table 2. List of Vendors
Table 3. Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Table 4. Boron Market – Revenue and Forecast to 2031 (US$ Million)
Table 5. Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 6. Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 7. Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 8. North America Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 9. North America Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 10. North America Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 11. North America Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Country
Table 12. North America Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 13. United States Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 14. United States Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 15. United States Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 16. Canada Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 17. Canada Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 18. Canada Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 19. Mexico Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 20. Mexico Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 21. Mexico Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 22. Europe Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 23. Europe Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 24. Europe Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 25. Europe Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Country
Table 26. Europe Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 27. Germany Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 28. Germany Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 29. Germany Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 30. France Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 31. France Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 32. France Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 33. Italy Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 34. Italy Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 35. Italy Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 36. United Kingdom Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 37. United Kingdom Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 38. United Kingdom Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 39. Russia Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 40. Russia Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 41. Russia Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 42. Rest of Europe Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 43. Rest of Europe Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 44. Rest of Europe Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 45. Asia Pacific Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 46. Asia Pacific Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 47. Asia Pacific Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 48. Asia Pacific Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Country
Table 49. Asia Pacific Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 50. Australia Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 51. Australia Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 52. Australia Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 53. China Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 54. China Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 55. China Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 56. India Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 57. India Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 58. India Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 59. Japan Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 60. Japan Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 61. Japan Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 62. South Korea Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 63. South Korea Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 64. South Korea Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 65. Rest of APAC Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 66. Rest of APAC Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 67. Rest of APAC Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 68. Middle East and Africa Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 69. Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 70. Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 71. Middle East and Africa Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Country
Table 72. Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 73. South Africa Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 74. South Africa Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 75. South Africa Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 76. Saudi Arabia Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 77. Saudi Arabia Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 78. Saudi Arabia Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 79. United Arab Emirates Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 80. United Arab Emirates Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 81. United Arab Emirates Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 82. Rest of Middle East and Africa Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 83. Rest of Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 84. Rest of Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 85. South and Central America Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 86. South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 87. South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 88. South and Central America Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Country
Table 89. South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 90. Brazil Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 91. Brazil Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 92. Brazil Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 93. Argentina Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 94. Argentina Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 95. Argentina Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
Table 96. Rest of South and Central America Boron Market – Volume and Forecast to 2031 (Kilo Tons) – by Derivatives
Table 97. Rest of South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million) – by Derivatives
Table 98. Rest of South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million) – by End-use Industry
List of Figures
Figure 1. Boron Market Segmentation, by Geography
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem Analysis: Boron Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Boron Market Volume (Kilo Tons), 2021–2031
Figure 6. Boron Market Revenue (US$ Million), 2021–2031
Figure 7. Boron Market Share (%) – Derivatives, 2023 and 2031
Figure 8. Borax: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 9. Borax: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Boric Acid: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 11. Boric Acid: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Boron Nitride: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 13. Boron Nitride: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Boron Carbide: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 15. Boron Carbide: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Boron Oxide: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 17. Boron Oxide: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Others: Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 19. Others: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Boron Market Share (%) – End-use Industry, 2023 and 2031
Figure 21. Agrochemicals: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Glass: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Ceramics: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Detergents: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Pharmaceuticals: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Electrical and Electronics: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Others: Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 28. Boron Market Breakdown by Region, 2023 and 2031 (%)
Figure 29. North America Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 30. North America Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 31. North America Boron Market Breakdown by Derivatives (2023 and 2031)
Figure 32. North America Boron Market Breakdown by End-use Industry (2023 and 2031)
Figure 33. North America Boron Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 34. United States Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 35. Canada Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 36. Mexico Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 37. Europe Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 38. Europe Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 39. Europe Boron Market Breakdown by Derivatives (2023 and 2031)
Figure 40. Europe Boron Market Breakdown by End-use Industry (2023 and 2031)
Figure 41. Europe Boron Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 42. Germany Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 43. France Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 44. Italy Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 45. United Kingdom Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 46. Russia Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 47. Rest of Europe Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 48. Asia Pacific Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 49. Asia Pacific Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 50. Asia Pacific Boron Market Breakdown by Derivatives (2023 and 2031)
Figure 51. Asia Pacific Boron Market Breakdown by End-use Industry (2023 and 2031)
Figure 52. Asia Pacific Boron Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 53. Australia Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 54. China Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 55. India Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 56. Japan Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 57. South Korea Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 58. Rest of APAC Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 59. Middle East and Africa Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 60. Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 61. Middle East and Africa Boron Market Breakdown by Derivatives (2023 and 2031)
Figure 62. Middle East and Africa Boron Market Breakdown by End-use Industry (2023 and 2031)
Figure 63. Middle East and Africa Boron Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 64. South Africa Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 65. Saudi Arabia Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 66. United Arab Emirates Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 67. Rest of Middle East and Africa Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 68. South and Central America Boron Market – Volume and Forecast to 2031 (Kilo Tons)
Figure 69. South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 70. South and Central America Boron Market Breakdown by Derivatives (2023 and 2031)
Figure 71. South and Central America Boron Market Breakdown by End-use Industry (2023 and 2031)
Figure 72. South and Central America Boron Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 73. Brazil Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 74. Argentina Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 75. Rest of South and Central America Boron Market – Revenue and Forecast to 2031 (US$ Million)
Figure 76. Heat Map Analysis by Key Players
Figure 77. Company Positioning & Concentration
The List of Companies - Boron Market
- Rio Tinto Group
- AbEti Products Oy
- Hoganas AB
- Nippon Denko Co Ltd
- Compagnie de Saint Gobain SA
- 3M Co
- Stella Chemifa Corp
- UBE Corp
- Boron Specialties LLC
- JFE Mineral & Alloy Co Ltd
- Arkema SA
- Tokyo Chemical Industry Co Ltd
- FREEMAN (JAPAN) CO., LTD.
- KROSAKI HARIMA CORPORATION
- Washington Mills Electro Minerals Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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