Global Boric Acid Market By Type (Medical Grade, and Industrial Grade), By Application (Glass, Ceramics, Pharmaceutical, Pesticide, Fertilizer, Textile Industry, and Textile Industry), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019-2029

Market.us announces publication of its most recently generated research report titled, “Global Boric Acid Market by Grade (Industrial Grade And Pharmaceutical Grade), By End-Use (Glass, Ceramic, Agriculture, Medical, and Other End-Uses), and by Region – Global Forecast to 2029”, which offers a holistic view of the global boric acid market through systematic segmentation that covers every aspect of the target market.

The Global Boric Acid Market is projected to be US$ 654.4 Mn in 2019 to reach US$ 1,092.6 Mn by 2029 at a CAGR of 5.3%.

Boric acid (H₃BO₃) is a boron compound which is a colorless, water-soluble, salt-like white powder. It is also known as boracic acid, hydrogen borate, and orthoboric acid. Boric acid is a low-toxic, non-volatile mineral with insecticidal, fungicidal, and herbicidal properties. It is widely used as an antiseptic, flame retardant, insecticide, lubricant, neutron absorber, or precursor to other chemical compounds. It is used as a liquid (applied as a spray or aerosol), wettable powder, emulsifiable concentrate, granule, powders, dust, pellets, tablets, paste, bait, or crystalline rod depending upon the circumstances and target pest.

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Increasing demand for boric acid in glass and ceramics is a key factor driving growth of the global boric acid market, owing to its usage in various end-use industries. Boric acid is widely used in the manufacturing of monofilament fiberglass, usually known as textile fiberglass to reinforce plastics in various applications such as boats, industrial piping, computer circuit boards, etc. It is also used in the production of the glass made for LCD flat panel displays. Boric acid is used in medicine as an antiseptic for minor cuts or burns and is sometimes used in dressings and salves, such as boracic lint. It is also used as an eyewash in a very dilute solution. Additionally, it can be used as an antibacterial compound for acne treatment and prevention of athlete's foot. This is another factor expected to augment growth of the target market in the near future.

Boric acid acts as a “stomach poison” for certain pests such as cockroaches, ants, and termites. As an insecticide, it usually applied in bait form or used as a dry powder in which containing a feeding attractant and then added into crevices and creaks so that it forms a layer of dust. So boric acid adheres to their legs when the insects move across the powder. In addition, boric acid is used as food preservatives in some foods and food products to preserve meats, meat products, caviar, and dairy products. This is because boric acid can inhibit the growth of microorganism, which helps to preserve the food. These are some of the other factors proliferating growth of the target market.

Global Boric Acid Market Revenue (US$ Mn), 2019–2029

An increase in the demand for boric acid due to a rise in the use of insulation materials in residential and commercial sectors drives the boric acid market owing to the growing demand for the construction industry is expected to expand the market. An increase in demand of sub-products from boric acid such as borosilicate is increasing due to the need for laboratory applications and glass in cookware. It is likely to produce potential growth for the boric acid market.

The rise in the industrial applications is resulting in market growth owing to finishing properties of boric acid used for manufacturing products without deglazing, firmness, gloss, and cracks. Such manufacturing industries are expected to drive the market continuously. Plastics and textile industries are demanding for the boric acid owing to its flame retardant material properties that helps to manufacture the product with anti-flaming property and better strength. It results in the growth of the boric acid market in these industries.

Regulations regarding the use of boric acid are relatively stringent and are expected to hamper the growth of the global boric acid market. The chronic use of boric acid in vaginal deodorants and rectal suppositories carries the risk of intoxication. Borax and boric acid used in powders and ointments have resulted in severe poisonings and death. Patients using boric acid ophthalmic solutions are advised to consult a physician if visual changes or ocular pain occur because it may worsen the condition.

In addition, continuous contact with boric acid avoided as it may irritate the gastrointestinal tract and affect the central nervous system. It is irritant to the eyes, skin, and the respiratory tract.

The global boric acid market is segmented on the basis of grade, end-use, and region. Based on the grade, the market is segmented into industrial grade and pharmaceutical grade. Among the grade segment, the industrial-grade is expected to account for the highest revenue share and is projected to grow at a rapid rate over the forecast period. Based on end-use, the market is segmented into glass, ceramic, agriculture, medical, and other end-uses. Among the end-use segments, the glass segment is expected to hold a significant share in terms of revenue in the target market. Based on the region, the market is segmented into North America, Europe, Asia Pacific, South America, and MEA. Asia Pacific market is projected to register the highest growth rate over the forecast period owing to increasing demand for the product in various end-use industries.

Global Boric Acid Market Attractiveness Analysis by Grade, 2013-2019

The research report on the global boric acid market includes profiles of some of the major companies such as Rio Tinto (U.S. Borax Inc.), 3M, EtiMaden, Nirma Limited (Searles Valley Minerals Inc.), NIPPON DENKO CO., LTD, Promega Corporation, Southern Agricultural Insecticides, Inc, Quiborax, American Borate Company, Minera Santa Rita S.R.L. (MSR), etc.

Key Market Segments

Type

• Medical Grade
• Industrial Grade

Application

• Glass
• Ceramics
• Pharmaceutical
• Pesticide
• Fertilizer
• Textile Industry
• Textile Industry

Key Market Players included in the report:

• Rio Tinto (U.S. Borax Inc.)
• 3M
• EtiMaden
• Nirma Limited (Searles Valley Minerals Inc.)
• NIPPON DENKO CO.LTD
• Promega Corporation
• Southern Agricultural Insecticides Inc
• Quiborax
• American Borate Company
• Minera Santa Rita S.R.L. (MSR)

For the Boric Acid Market research study, the following years have been considered to estimate the market size: