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 2. > Pharmaceutical Market Trends


BORIC ACID MARKET BY PURITY, APPLICATION, DISTRIBUTION CHANNEL, END USER, AND
REGION 2023-2028

 * March 2023
 * 145 pages
 * ID: 6425226
 * Format: PDF
 * IMARC Group



Summary

Table of Contents



Market Overview:

The global boric acid market size reached US$ 845 Million in 2022. Looking
forward, IMARC Group expects the market to reach US$ 1,178 Million by 2028,
exhibiting a growth rate (CAGR) of 5.5% during 2023-2028. The increasing product
utilization in the pharmaceutical industry, the widespread product adoption for
manufacturing fiberglass, and extensive research and development (R&D)
activities represent some of the key factors driving the market.

Boric acid B(OH)3 is a colorless or white crystalline compound that occurs
naturally or is produced artificially from borax. It is also known as acidum
boricum, hydrogen borate, boracic acid, and orthoboric acid. It is soluble in
water and does not have any characteristic odor. Boric acid yields various
borate anions and salts and can react with alcohols to form borate esters. It is
widely used in many chemical products as an antiseptic, insecticide, flame
retardant, neutron absorber, or precursor. It is also used to manufacture
cosmetics, cement, pottery, enamels, glazes, and artificial gems and in tanning,
printing, dyeing, painting, and photography. It is a weak acid that exhibits
antiviral, antifungal, and antiseptic properties. As a result, boric acid finds
extensive applications across the pharmaceuticals, agricultural, chemical
processing, building and construction industries.

Boric Acid Market Trends:

The increasing product demand in the pharmaceutical industry across the globe is
one of the key factors driving the market growth. Boric acid is used in treating
vaginal yeast infections and ear infections in animals and humans due to its
antibacterial and antifungal properties. In line with this, the widespread
product utilization for external applications, including eye disinfectants,
contact lens solutions, anti-aging preparations, and baby powders, is acting as
another growth-inducing factor. Moreover, the increasing application of boric
acid in agricultural chemicals as well as in coal-fired power plants, as it is
an essential ingredient in pesticides used against spiders, mites, and algae, is
favoring the market growth. Apart from this, the introduction of new advanced
methods that helps in producing boric acid without any harmful waste material
and offers an alternative process to commercial production methods is providing
an impetus to the market growth. Additionally, the increasing product
utilization in manufacturing fiberglass and specialty glass, as it offers
chemical and heat resistance, transparency, and brightness to glass and assists
in reducing melting point, viscosity, and increasing breakage index, is
facilitating the market growth. Furthermore, the widespread product adoption as
a nutritional supplement and fortifying agent in processed food is positively
influencing the market growth. Other factors, including significant growth in
the construction industry, increasing agricultural activities and extensive
research and development (R&D) activities, are anticipated to drive the market
growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global
boric acid market, along with forecasts at the global, regional, and country
level from 2023-2028. Our report has categorized the market based on purity,
application, distribution channel, and end user.

Purity Insights:

<99%
?99%

The report has provided a detailed breakup and analysis of the boric acid market
based on purity. This includes <99% and ?99%. According to the report, ?99%
represented the largest segment.

Application Insights:

Flame Retardants
Ceramics & Fiberglass
Wood Preservatives
Nutritional Supplements
Pest Control
Others

The report has provided a detailed breakup and analysis of the boric acid market
based on the application. This includes flame retardants, ceramics and
fiberglass, wood preservatives, nutritional supplements, pest control, and
others. According to the report, ceramics and fiberglass represented the largest
segment.

Distribution Channel Insights:

Wholesale
E-Commerce
Retail Stores
Supermarkets and Hypermarkets
Independent Stores
Others

The report has provided a detailed breakup and analysis of the boric acid market
based on the distribution channel. This includes wholesale, e-commerce, retail
stores, supermarkets and hypermarkets, independent stores, and others. According
to the report, wholesale represented the largest segment.

End User Insights:

Pharmaceuticals
Agricultural
Chemical Processing
Building & Construction
Nuclear
Others

The report has provided a detailed breakup and analysis of the boric acid market
based on the end user. This includes pharmaceuticals, agricultural, chemical
processing, building and construction, nuclear, and others. According to the
report, pharmaceuticals represented the largest segment.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional
markets that include North America (the United States and Canada); Asia Pacific
(China, Japan, India, South Korea, Australia, Indonesia, and others); Europe
(Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin
America (Brazil, Mexico, and others); and the Middle East and Africa. According
to the report, Asia Pacific was the largest market for boric acid. Some of the
factors driving the Asia Pacific boric acid market included significant growth
in the construction industry, rising applications of fiberglass, and extensive
research and development (R&D) activities.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive
landscape in the global boric acid market. Detailed profiles of all major
companies have also been provided. Some of the companies covered include 3M
Company, Avantor Inc., Eti Maden, Gujarat Boron Derivatives Pvt. Ltd., Indo
Borax & Chemicals Limited, Minera Santa Rita S.R.L., Organic Industries Pvt.
Ltd., Quiborax SA, SCL Italia S.p.A., Singhania International Limited, Sociedad
Industrial Tierra S.A., The Chemical Company, Tomiyama Pure Chemical Industries
Ltd., U.S. Borax Inc. (Rio Tinto plc), etc. Kindly note that this only
represents a partial list of companies, and the complete list has been provided
in the report.

Key Questions Answered in This Report:

How has the global boric acid market performed so far and how will it perform in
the coming years?
What are the drivers, restraints, and opportunities in the global boric acid
market?
What are the key regional markets?
Which countries represent the most attractive boric acid markets?
What is the breakup of the market based on purity?
What is the breakup of the market based on the application?
What is the breakup of the market based on distribution channel?
What is the breakup of the market based on the end user?
What is the competitive structure of the global boric acid market?
Who are the key players/companies in the global boric acid market?


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