Global Boric Acid Market Size is Expected to Grow to $1637.21 Million by 2028

Global Boric Acid Market Overview

According to Global Market Monitor, the global boric acid market size was $1259.08 million in 2023 and is expected to grow to $1637.21 million by 2028.Boric acid is a weak and monobasic form of boron, majorly used as a flame retardant in antiseptic and pest control applications. It consists of a colorless form of crystals or white powder, which dissolves easily in water.

Asia Pacific is the Main Consumption Market.

The Asia Pacific is the main consumption market of boric acid, occupying a considerable share. Developing economies such as China, India, South America, and Southeast Asia are pushing for demand for boric acid. Factors such as raw material supply, land and cheap labor, low transportation costs, and less stringent government regulations and policies have led several players in the market to transfer their manufacturing centers to these countries. The increase in 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. In addition, the boric acid market in North America and Europe is also growing. In general, the boric acid market has broad development prospects, with the continuous development of various application fields and the increase in demand, the boric acid market will continue to maintain stable growth.

Boric acid companies are mainly from Europe, South America, United States and China. The industry concentrate rate is relatively high. The top three companies are Borax, Etimaden, Mining Chemical Company Russian Bor.Borax is one of the major players operating in the boric acid market, holding a share of 24.79% in 2023.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.

Company Name	U.S. Borax
Website	www.borax.com
Established Time	1875
Plants Distribution	US
Sales Region	Worldwide
Product Introduction	Optibor prevents the oxidation of metal surfaces in welding, brazing, or soldering. Optibor greatly improves the tack and green strength of the adhesive by cross-linking conjugated hydroxyl groups. Optibor can be incorporated in aqueous and non-aqueous systems for corrosion inhibition, lubrication, or thermal oxidative stabilization. It is also used in the manufacture of lubricants, brake fluids, metalworking fluids, water-treatment chemicals, and fuel additives.