Global Boric Acid Market Size is Expected to Grow to $1633.45 Million by 2028

Global Boric Acid Market Overview

According to Global Market Monitor, the global boric acid market size will reach $1261.3 million in 2023 and is expected to grow to $1633.45 million by 2028.

Boric Acid is Widely Used.

Boric acid is a tasteless white powder crystal or colorless scale-like crystal, which is soluble in water and the aqueous solution is weakly acidic but also soluble in ethanol, glycerin, ether, essential oils, and so on. Boric acid is widely used in various industries and applications due to its unique properties, including pharmaceuticals, personal care products, agriculture, industrial manufacturing, flame retardants, wood preservation, and nuclear power. Its versatility and diverse range of properties make it a valuable compound in various fields. The increasing demand for boric acid in fiberglass insulation has mainly contributed to market growth. As a viscosity and Ph modifier, the demand for borate and boron products in the oil and gas industry continues to grow.

Boric Acid Industry Market Dynamics

With the rising demand for organic and sustainable agriculture practices, boric acid can play a significant role as a micronutrient supplement and pest control agent. Sustainable agriculture aims to meet the current needs of food production while preserving and enhancing the natural resources and ecological balance for future generations. The growing interest in eco-friendly agricultural practices provides opportunities for the boric acid market.

Borax is one of the major players operating in the Boric Acid market, holding a market share of 24.90% in 2022. In March 2023, Borax introduced Optibor® BQ, a new battery-quality boric acid product designed to meet special purity and particle size needs.

Company Name	U.S. Borax
Website	www.borax.com
Established Time	1875
Plants Distribution	US
Sales Region	Worldwide
Market Position	American Borax is part of Rio Tinto and is a global leader in the supply and science of natural minerals for borate-boron and other elements. It provides 30% of the world\'s refined borate demand.
Recent Development	Borax introduced Optibor® BQ, a new battery-quality boric acid product designed to meet the special purity and particle size needs.