Market Overview
With the research on the market of the boric acid that has been made so far, it is estimated that the demand for it has increased considerable post covid 19 and is likely to show a potential growth of a certain percentage of CAGR within the forecast timeline which is till 2030.
Even if the borosilicate glass over quite some time has been showing a good demand, there is no doubt that in covid times due to pandemic crises, the market got hit very badly. As the other industries got paused be it construction or manufacturing, the market was hit in all countries and considering the market for boric acid there was no exemption. However, as the ban is getting uplifted and many countries are not in the pandemic crises anymore, it is expected that the demand for the Boric Acid Market is likely to upscale again in full swing. You may see some better outcomes for the same in the coming years.
Boric acid is one weak yet odourless acid that occurs naturally. This compound consists of an element called boron. You can find it in powder form and also in the form of colourless crystals and white powder that is said to be water-soluble. It is rich in antibiotic properties that are against both fungal and bacterial infections. Considering the demand in the growing construction industries, there is no doubt that boric acid maker is also getting a huge demand. It can be used in household and industrial applications and also in creating soldering operations, textile fibreglass and lubricants to be made. It is useful for insecticides and antibacterial compounds as well. Considering the rise in the per capita income and urbanization, the market for boric acid is growing at a faster pace. There are also construction activities emerging in developing countries like China and India where fibreglass is being boosted in terms of construction. That is why the demand for boric acid has increased considerably.
Market Segmentation
The market of Global boric acid is categorized per application, end-use and region.
l As per the end-user, the market of Global boric acid is categorized into ceramics, tiles, flame and fibreglass
l As per the application, the market for Global boric acid is categorized into household and industrial.
Regional Classification
If the regional analysis is to be considered, the market for boric acid is growing in regions like North America, Asia Pacific, Europe, The Middle East And Africa and Latin America. Out of which, Asia Pacific is showing a good share of the market in the boric acid which of course is soon going to grow in coming years. Further, the agriculture industry is growing too which is why the demand in this region is quite high.
