Boron is basically a mineral that is found in food and the environment. Boron compounds include all chemical compounds including the element boron. The market of boron compounds is growing due to the factors like its end use in the industry like ceramic and fiberglass. While some of the factors like availability of substitutes is hindering the market along with limited availability of boron ore which is too putting the market in backward direction.This growth is primarily driven by Growth in the application like fiberglass Industry is set to drive the market of boron compounds, along with this there is increasing demand for boric acid from ceramic tile industry which is also helping in market growth.
Globally, a noticeable market trend is evident Potential applications in medical and thermoplastic industry. Major Vendors, such as BASF (Germany), Boron Compounds, Ltd (Israel), Rio Tinto Group (United States), Borax Morarji (India), Tomiyama Pure Chemical Industries (Japan), Russian Bor (Russia), Eti Maden (Turkey), ESK Ceramics GmbH & Co. KG (Germany), Gujarat Boron Derivatives (India) and Mizushima Ferroalloy (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Growth in the application like fiberglass Industry is set to drive the market of boron compounds, along with this there is increasing demand for boric acid from ceramic tile industry which is also helping in market growth
- Potential applications in medical and thermoplastic industry
- Abundant availability of close substitutes
Easy availability of products
Limited availability of boron ore, concentrated only in a few regions around the world
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