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Boric Acid Market Demand, Price Analysis, Forecast 2023-2028

Di Dhamashalu

The latest research study by IMARC Group, “Boric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on global boric acid market price. The 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. Boric acid B(OH)3 represents a colorless or white crystalline compound that occurs naturally or is produced artificially from borax. It is also called acidum boricum, hydrogen borate, boracic acid, and orthoboric acid. Boric acid yields various borate anions as well as salts and can react with alcohols to form borate esters. Request a Free PDF Sample for more detailed market insights: https://www.imarcgroup.com/boric-acid-market/requestsample Boric Acid Market Trends and Drivers: The widespread adoption of this compound in several chemical products as an antiseptic, insecticide, flame retardant, neutron absorber, or precursor is primarily augmenting the boric acid market. Furthermore, it is used to manufacture cosmetics, cement, pottery, enamels, glazes, artificial gems, etc., which is positively influencing the global market. Apart from this, the escalating demand for boric acid in the pharmaceuticals sector is acting as another significant growth-inducing factor. Moreover, the increasing utilization of hydrogen borate to treat vaginal yeast infections and ear infections in animals and humans, owing to its antibacterial and antifungal properties, is bolstering the market growth. Besides this, the inflating popularity of boracic acid for external applications, including eye disinfectants, contact lens solutions, anti-aging preparations, baby powders, etc., is further catalyzing the global market. Additionally, the growing usage of boric acid in agricultural chemicals and coal-fired power plants, as it is an essential ingredient in pesticides used against spiders, mites, algae, etc., is also stimulating the market growth. In line with this, the introduction of new advanced methods that aid in producing variants without any harmful waste material and offer an alternative process to commercial production methods is expected to fuel the boric acid market in the coming years.
Boric Acid Market Report Scope
Report Coverage Details
Market size value in 2022 US$ 845 Million
Market forecast in 2028  US$ 1,178 Million 
Growth Rate CAGR of from 5.5% 2023 to 2028
Base year for estimation 2021
Historical data 2017-2022
Forecast period 2023-2028
Boric Acid Market 2023-2028 Analysis and Segmentation: Competitive Landscape: The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Who are the key players in the Boric Acid Market? Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/boric-acid-market The report has segmented the market on the basis of Purity Insights: 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: 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: 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: 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. Breakup by Region: Key highlights of the report: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization. Contact Us: IMARC Services Private Limited. 30 N Gould St Ste R Sheridan, WY 82801 USA - Wyoming Email: Sales@imarcgroup.com Tel No:(D) +91 120 433 0800 Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800 About Us: IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.