About Boric Acid
Boric acid is a crystalline compound derived from borax. It is used as mild antiseptic and in the manufacture of heat resistant glass. Boric acid market has high growth prospects owing to increasing demand from the tiles, ceramic and fiberglass, agriculture, wood preservation, pharmaceuticals, and cosmetics industry. Further, increasing demand from the developing economies expected to drive the demand for boric acid over the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Boric Acid market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M (United States), Avantor Performance Materials (United States), BASF SE (Germany), Eti Maden (Turkey), Gujarat Boron Derivatives (India), Minera Santa Rita (Argentina), Borax (United States) and Quiborax (Chile) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Tomiyama Pure Chemical Industries, Ltd (Japan) and Cargille-Sacher Laboratories Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Boric Acid market by Type (Medical Grade, Industrial Grade and Others), Application (Industrial, Commercial and Household) and Region.
On the basis of geography, the market of Boric Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Wholesale will boost the Boric Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Tiles will boost the Boric Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand of Borosilicate Glass and Growing Laboratory Applications of Boric Acid
Market Growth Drivers:
Rising Demand for Glass and Fiberglass in Construction and Increasing Demand Ceramic and Fiberglass Industry
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
Stringent Government Regulations Regarding Boric Acid
Opportunities:
Rising Demand of Boric Acid for Manufacturing Automotive Glass and Fiberglass and Increasing Demand from the Developing Economies
“According to the Environmental Protection Agency (EPA), three phytotoxicity studies to further assess the risks of boric acid and its sodium salts to non-target plants and endangered plant species are required. However, these studies are not part of the target database and do not affect the reregistration eligibility of boric acid and related active ingredients. The Agency also is requiring product-specific data including product chemistry, acute toxicity, and efficacy studies, revised Confidential Statements of Formula, and revised product labeling for reregistration.”
Key Target Audience
Boric Acid Manufacturer, Boric Acid Distributors, Research and Development Institutes, Potential Investors, Raw Material Suppliers, Nationalized Laboratory and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.