Boric Acid Market, by Application (Medical, Flame Retardants, Glass & Fiberglass, Wood Preservatives, Pest Control, Nutritional Supplements, and Others), by End-use Industry (Building and Construction, Ceramics, Pharmaceuticals, Agriculture, Oil & Gas, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Mar 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Boric acid, also known as hydrogen borate, boracic acid, or acidum boricum, is a white, odorless, weak monobasic acid commonly available in the form of mineral called sassolite and in powder form. Commercially, it can be prepared by reaction of borax with mineral acids such as hydrochloric acid. It has wide range of applications such as antiseptic in medical industry and as pH buffer and sanitizer for swimming pools. It is also used in the production of lubricant with oils for ceramic and metal surfaces.

Market Dynamics

  • Major driver for growth of the global boric acid market is increasing application of boron in fiberglass and specialty glass (carbon fiber). Boric acid offers specific benefits to glass such as chemical and heat resistance, can reduce melting point, viscosity and increase breakage index, and offers transparency and brightness to glass. According to American Composites Manufacturers Association, the global fiberglass market size was over US$ 13 billion in 2016, and it is expected to increase to US$ 20 billion by 2024. Moreover, the demand for aerospace carbon fiber is expected to reach 22,100 tons by 2020.

Market Outlook

  • Asia Pacific is expected to witness significant growth in the market, with China and India poised as the growth engine. This is owing to increasing medicinal use of boric acid as antiseptic. For instance, according to International Trade Association, China is the second largest pharmaceutical market worldwide and the pharmaceutical market of China was valued at US$ 108 billion in 2015, and is expected to reach US$ 167 billion by 2020, witnessing a CAGR of 9.1%. Moreover, China's total public and private healthcare expenditure was valued at US$ 640 billion in 2015, and expected to reach US$ 1.1 trillion by 2020.

Key Players

  • Key players operating in the global boric acid market include, 3M, Avantor Performance Materials, BASF SE, U.S. Borax, Eti Maden, Gujarat Boron Derivatives, Minera Santa Rita (MSR), Quiborax, Russian Bor, and Tomiyama Pure Chemicals Industries, Babcock International Group, and others.

Market Taxonomy

On the basis of application, the global boric acid market is segmented into:

  • Medical
  • Flame Retardants
  • Glass and Fiberglass
  • Wood Preservatives
  • Pest Control (Household)
  • Others (Nutritional Supplements etc.)

On the basis of end-use industry, the global boric acid market is segmented into:

  • Building and Construction
  • Ceramics
  • Pharmaceuticals
  • Agriculture
  • Oil & Gas
  • Others

On the basis of region, the global boric acid market is segmented into:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Russia
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • Northern Africa
    • Central Africa
    • South Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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