Zinc borate is an environmentally friendly non halogen flame retardant, characterized by non-toxicity, low water solubility, high thermal stability, small particle size, low specific gravity, and good dispersibility. Zinc borate not only has flame retardant properties, but also has various effects such as smoke suppression, carbonization, afterglow suppression, and prevention of melting and dripping, making it widely used in industry. Meanwhile, zinc borate is non-toxic to the human body and is a safe and environmentally friendly flame retardant.
Overview of Market Development
Zinc borate, as an environmentally friendly non halogen flame retardant, is widely used in plastics, rubber, coatings and other fields, and the market demand is constantly increasing. In recent years, the global zinc borate market has shown a slow but steady growth trend. According to our research data, the estimated revenue of the global zinc borate market in 2024 is $248 million, an increase of 7.84% compared to 2023. This growth is mainly due to the strengthening of fire safety regulations, the promotion of environmental regulations, as well as technological innovation and product upgrades.
In the future, with the continuous improvement of global requirements for fire safety and environmental protection, the zinc borate market will usher in more development opportunities, and its market is expected to further expand. It is expected that by 2029, the global zinc borate market revenue will increase to $360 million. The CAGR for 2024-2029 is estimated to be 7.74%. However, challenges such as fluctuations in raw material prices and supply chain disruptions also require companies to closely monitor and respond. Overall, the global zinc borate market has promising prospects.
Analysis of Market Competition Pattern
From the perspective of market competition, the concentration of the global zinc borate market is moderate. Data shows that in 2023, the top 3 companies had a total revenue of $103 million in the zinc borate market, with a total revenue share of 44.86%. The top 3 companies were U S. Borax, Lanxess, and Shandong Wuwei Flame Retainer. In 2023, these three enterprises had a market share of 19.95%, 14.10%, and 10.81% in terms of revenue from the zinc borate market, respectively.
Global Zinc Borate Market Revenue Forecast and Competition Pattern Analysis
Source: www.globalmarketmonitor.com
Segmented Market Analysis
From an application perspective, zinc borate is mainly used in fields such as flame retardant and composite formulation. The flame retardant field dominates the downstream application market, with an expected application share of 89.35% by 2024.
From a regional perspective, the global zinc borate market is mainly concentrated in North America, Europe, and the Asia Pacific region. Among them, the Asia Pacific region is the largest revenue market. Data shows that the estimated revenue of the zinc borate market in the Asia Pacific region in 2024 is $117.88 million, and the market share is expected to reach 47.52%; The European and North American markets are expected to rank second and third with shares of 20.59% and 17.44%, respectively.
Global Zinc Borate Segment Market Revenue and Market Share Forecast in 2024
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Market Revenue (Million USD)
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Market Share
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Segmented by Application
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Flame Retardant
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221.5
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89.35%
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Composite Formulation
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18.4
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7.60%
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Others
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7.7
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3.05%
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Segmented by Region
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North America
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43.6
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17.44%
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Europe
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51.7
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20.59%
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Asia Pacific
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117.8
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47.52%
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South America
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15.3
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3.53%
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Middle East & Africa
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20.4
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4.85%
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Source: www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Zinc Borate Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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